Flagbearer for the Convention People’s Party (CPP), Nana Frimpomaa Sarpong Kumankumah, has unveiled an ambitious plan aimed at empowering Ghana’s youth with financial resources if she wins the 2024 presidential election.
In a recent interview, she announced her intention to raise $20 billion within her first year in office, which would directly benefit young Ghanaians.
Her strategy, focused on youth development, promises each Ghanaian youth access to $1,000 to start businesses or improve their livelihoods. According to her, this financial injection will open up opportunities for job creation, small business expansion, and entrepreneurial innovation.
In her interview with Joy News on Friday, September 6, Nana Frimpomaa stressed the importance of addressing the challenges faced by Ghana’s youth, who she believes have been overlooked for too long. She envisions a future where young Ghanaians have the capital they need to succeed, without resorting to borrowing.
“I will raise $20 billion annually and make sure every Ghanaian youth has access to $1,000. The reason I am quoting this amount in dollars is that after my government is in place, there will be no more need for quoting in foreign currency, as the Ghanaian economy will stabilize, and prices will remain consistent,” she stated.
Nana Frimpomaa addressed the country’s heavy reliance on foreign currencies, particularly the US dollar, noting that this dependence is a major cause of economic instability. She highlighted the daily fluctuations in prices as a result of the current system, vowing to resolve the issue within two years.
“By the time I take over, if $20,000 is the equivalent in Ghanaian cedis, every young person will know they have 20,000 cedis. Within two years, however, we will resolve the dollar problem in this country,” she said.
Her approach emphasizes human capital development over large-scale infrastructure projects. She aims to invest the $20 billion in youth programs and businesses to foster long-term economic growth.
Nana Frimpomaa also provided practical examples of how her plan would work in practice, such as helping young entrepreneurs like those selling Iced Kenkey. She explained how they could access innovative systems and funding to scale their businesses, enhance product quality, and expand their reach.
“I plan to invest this $20 billion not into major infrastructure, but directly into the youth, empowering them with the resources they need to succeed in various sectors of the economy,” she explained.
One of her long-term goals includes phasing out street hawking, a common survival practice for many young Ghanaians, within the next decade. She envisions a future where no young person will be forced to carry goods on their heads just to make a living.
“I don’t want to see any young person having to carry goods on their head just to earn a living. It’s not a future I want for my children, grandchildren, or any Ghanaian,” she asserted.
Nana Frimpomaa made it clear that the $20 billion she plans to raise will not come from borrowing. Instead, she will rely on her entrepreneurial experience to generate revenue through innovative business strategies.
“I’ve been an entrepreneur all my life. I will not borrow this money. I know how to generate revenue through business, and that is what I plan to do for Ghana,” she concluded.