The Minority Leader and Member of Parliament for Effutu, Alexander Afenyo-Markin, has sharply criticized the administration of President John Dramani Mahama, accusing it of worsening Ghana’s unemployment crisis by abandoning key economic policies introduced under the previous Akufo-Addo government.
Speaking at the grand durbar, homecoming, and handing-over ceremony of the Asante Students Union at the University of Ghana on Sunday, August 17, Afenyo-Markin argued that the decision to discontinue programmes such as One District, One Factory (1D1F) and to suspend industry-supporting tax exemptions has significantly dampened investor confidence and job creation.
“More than one in every four Ghanaians wakes up each morning with no meaningful job to go to. Our overall unemployment rate is nearly 15%, according to official sources,” he noted.
“When young people can’t find jobs, it is not just an economic problem; it becomes a threat to our national security in a region experiencing various forms of armed conflict.”
The Effutu MP claimed that discontinuing the 1D1F initiative and eliminating key tax waivers has effectively “killed” opportunities for sustainable employment across many sectors.
“When the government fails to create the right economic environment to inspire the creation of new jobs, young people must innovate to create their own,” he said.
“The choice is simple: either we solve the unemployment crisis, or it will solve us in ways we won’t like.”
Afenyo-Markin also drew attention to growing concerns over loan recovery, particularly under the Microfinance and Small Loans Centre (MASLOC). He revealed that as of February last year, over GH¢291 million in MASLOC loans remained unpaid after more than a decade.
Additionally, he raised alarm over the financial health of the banking sector, citing GH¢654 million in bad debt losses over just five months this year, and pointed to rising default rates in the mobile money loan sector.
“In the momo sector, people borrow and simply disappear into the digital darkness. This culture is a cancer eating at our economic soul,” he said.
The Minority Leader urged the government to create a more business-friendly environment that fosters innovation, supports private investment, and prioritizes long-term job creation.
