Government has announced plans to make an additional GH¢1 billion available for youth employment and apprenticeship programmes through changes to the funding arrangements for earmarked funds.
The Finance Minister, Dr. Cassiel Ato Forson, announced the measure while presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12.
The policy will involve an amendment to the Earmarked Funds Capping and Realignment Act, 2017 (Act 947), to remove the cap on funding allocated to youth employment programmes.
Dr. Forson said the change would make more resources available to support young people seeking employment and skills training.
“Mr. Speaker, Government will amend the Earmarked Funds Capping and Realignment Act, 2017 (Act 947), to remove the cap on funding earmarked for youth employment programmes,” he told Parliament.
He explained that the amendment would release additional funds for employment and apprenticeship initiatives.
“This reform will free up additional GH¢1 billion for youth employment and apprenticeship programmes,” the Finance Minister said.
Under the new arrangement, revenue from the Communications Service Tax allocated to youth employment and apprenticeship programmes will no longer be subject to the existing funding cap.
“Going forward, Communications Service Tax revenue accruing to youth employment and apprenticeship programmes will no longer be capped,” Dr. Forson stated.
He said the move was expected to provide more resources to equip young Ghanaians with relevant skills and connect them to employment opportunities.
“This reform will provide more funding to empower young Ghanaians with skills and connect them to employment opportunities,” he added.
Government also intends to amend and modernise the Youth Employment Act to harmonise youth employment programmes and improve their coordination.
The additional funding forms part of the government’s broader expenditure measures outlined in the 2027 Budget.
