Ghana To Set Up $5Mln Fund to Promote Technological Innovation

By : Adoni Conrad Quenum

Date : lundi, 14 octobre 2024 08:23

Like most African countries, Ghana is following its digital transformation roadmap. Various projects are supporting the achievement of this goal.

Ghanaian authorities plan to launch a $5 million fund to support technological innovation in the country. This was announced by Finance Minister Mohammed Amin Adam on Tuesday, October 8, during a visit to the site hosting the digital center at the University of Ghana.

We are also establishing a US$5million endowment fund to support the management of this hub. So, everything that’s required to make it a complete digital village in the provision of skills to the youth of Ghana will be done. […] We want to train a million youth in digital skills, and it is not a task that cannot be done,” he said.

This initiative comes as African countries increasingly require a skilled workforce to keep pace with the digital transformation that has been underway for several years. According to a study highlighted in the report "Digital Skills in Sub-Saharan Africa: Spotlight on Ghana," the International Finance Corporation estimates that around 20% of Ghanaian companies surveyed only recruit abroad for digital skills, mainly because they cannot find qualified local talent.

However, the same report estimates that $4 billion will be needed to train the local population in digital skills by 2030. In response, the government has set a goal to train 1 million young people in these skills. The construction of four digital centers is part of this effort. In addition to the University of Ghana, these centers will also be built at the Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi, the University of Cape Coast (UCC), and the University for Development Studies (UDS) in Tamale.

Adoni Conrad Quenum

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