Mr Niloy Banerjee, the Resident Representative of the United Nations Development Programme (UNDP) to Ghana, has underscored the vital role of the private sector in job creation and economic transformation.
Speaking at the Private Sector Investment Forum in Northern Ghana held in Bolgatanga, Mr Banerjee emphasized that job creation and economic growth were not driven by governments but by the private sector, particularly small and medium enterprises (SMEs).
Mr Banerjee stressed the critical need for strategic investments to unlock the potential of Ghana’s youth and women, particularly in the northern parts of the country, which he noted had numerous untapped economic opportunities.
“In most countries, 80 to 90 per cent of employment comes from SMEs. Africa will have way too many young people for everyone to get a job in an office, but everybody could be an entrepreneur, creating jobs not just for themselves but for others,” he said.
The regional forum, held on the theme: “Accelerating Local Development Through Private Sector Investment and Partnership,” was organised by the Upper East Regional Coordinating Council in collaboration with the National Development Planning Commission (NDPC), under the United Nations Peacebuilding Fund project, being implemented by the UNDP and the United Nations Population Fund (UNFPA).
The forum brought together government actors, private sector players, civil society, and development partners to showcase the potential of Northern Ghana, align efforts, share ideas, mobilise investment, and serve as a catalyst for inclusive and sustainable economic development in the region.
The forum recognised both the rich economic potential of Northern Ghana and the significant development challenges it continues to face, including high unemployment, limited investment, climate vulnerability, and multidimensional poverty.
According to the Ghana Statistical Service, poverty rates in parts of northern Ghana exceed 60 per cent with women and youth disproportionately affected.
The persistent north-south development gap has prompted renewed calls for innovative financing, stronger partnerships, and tailored investment strategies that respond directly to regional priorities.
The forum, which highlighted investment potential, fostered partnerships between District Assemblies and financial institutions, stressed the need for value-added production aligned with the African Continental Free Trade Area (AfCFTA).
Mr Banerjee emphasized the importance of creating the necessary infrastructure-such as cold storage, electricity, and market access-to support entrepreneurship, especially for women and youth.
“I really want and pray for Ghana to build the ecosystem that allows its entrepreneurs to flourish,” he stated.
Dr Audrey Amoah Smock, Director-General of the National Development Planning Commission (NDPC), reiterated the call for inclusive economic transformation and urged local government authorities to adopt a new mindset, one that views them not merely as administrators but as entrepreneurial development leaders who pitch investment opportunities for businesses.
Dr Smock revealed that, in collaboration with UNDP and the Peacebuilding Fund, the NDPC had developed and deployed an “investment toolkit” to empower district assemblies to assess investment readiness, prioritise sectors with comparative advantage, attract private investment, and serve as a blueprint for real transformation.
Mr Ibrahim Ahmed, the Minister for Local Government, Decentralisation and Rural Development, highlighted the urgent need for effective planning, strong local leadership, and inclusive economic models to drive regional development.
He outlined flagship initiatives, including the Adumawura Programme, which aims to support 10,000 youth-led enterprises annually through training, startup capital, mentorship, tax holidays, and market access, as well as the Feed Ghana programme and the 24-Hour Economy initiative, and urged SMEs to take advantage of these initiatives to unlock their potential.
Mr Roland Ayoo, the Bolgatanga Municipal Chief Executive, noted that the forum was a significant milestone in unlocking the abundant human and natural resources in the region through strengthened partnerships and investment.
Source: GNA
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