The Chief Executive Officer of PIWAK Group of Companies, Dr. Prince Nelson Mortoti, has called for the establishment of a dedicated Youth Bank to provide financial support for young entrepreneurs and skilled graduates seeking to create jobs and contribute to national development.
According to him, the growing number of graduates leaving tertiary institutions each year requires innovative interventions that will empower the youth to transform their knowledge, technical skills and talents into viable businesses.
Dr. Mortoti made the call when he addressed the grand durbar marking the 30th anniversary celebration of the Volta Region Students Association of the University of Cape Coast (VORSAG-UCC) at the Auditorium 900 of the University of Cape Coast.
The event, held on the theme: “Decades of VORSAG-UCC: Reflecting on Our Journey, Repositioning for Impact,” brought together university management, government officials, alumni, patrons, students and distinguished guests from across the country.
Dr. Mortoti expressed concern about the increasing challenge of graduate unemployment, noting that more than 100,000 students graduate from tertiary institutions in Ghana every year, placing enormous pressure on the labour market.
He observed that government alone could not absorb the growing number of job seekers and stressed the need for young people to embrace entrepreneurship as a practical pathway to economic independence.
“The truth is hard to say, but if the youth start channeling the knowledge gained from school into entrepreneurship, we will all be successful and not rely on governments for jobs,” he stated.
He explained that many young people possessed valuable technical and vocational skills but often lacked access to startup capital, business development support and mentorship opportunities needed to establish sustainable enterprises.
To address the challenge, Dr. Mortoti urged government, political leaders, traditional authorities, religious institutions and development partners to initiate discussions on establishing a Youth Bank dedicated to supporting young entrepreneurs.
He said such an institution could provide affordable financing, business advisory services and capacity-building programmes to help young people transform innovative ideas into successful enterprises.
According to him, investment in youth entrepreneurship would not only reduce unemployment but also stimulate economic growth, increase productivity and create additional employment opportunities for others.
“The future of our nation depends on how effectively we equip and empower our young people to become creators of opportunities rather than seekers of opportunities,” he added.
Entrepreneurship and skills development
Dr. Mortoti further encouraged young people to take advantage of technological advancements and emerging opportunities in vocational and technical sectors.
He noted that the world was rapidly changing and creating new avenues for innovation, making it necessary for graduates to acquire practical skills that would enable them to compete in the modern economy.
He urged students and graduates to focus on discovering their strengths and developing expertise in areas where they could create value for society.
Drawing from his entrepreneurial experience, he said success often begins with service, learning and perseverance rather than immediate financial rewards.
“The path to the top is through serving and starting from scratch. Sometimes service may not come in the form of wages or salary, but the knowledge and experience gained help build the foundation for future success,” he said.
Touching on citizenship and national development, Dr. Mortoti reminded Ghanaians of their obligations under Article 41 of the 1992 Constitution, which outlines the duties and responsibilities of every citizen.
He emphasized the importance of hard work, community service, environmental protection and responsible use of public resources as essential pillars for national progress.
He stressed that development required collective effort and urged citizens to contribute meaningfully to the advancement of their communities and the country at large.
Reflecting on the significance of VORSAG-UCC’s 30-year journey, Dr. Mortoti challenged members and alumni of the association to focus on creating lasting impact in society.
He noted that institutions are ultimately judged not by their longevity but by the difference they make in the lives of people.
“Impact is the only thing that outlives us. Not titles, not positions, not recognition, but impact,” he stated.
He therefore encouraged members to think beyond personal achievements and dedicate themselves to leadership, mentorship and service to future generations.
Dr. Mortoti congratulated the founders, leaders and members of VORSAG-UCC for sustaining the association over the past three decades and expressed optimism that its next chapter would be even more impactful and transformative.
He urged all stakeholders to embrace innovation, service and purposeful leadership in shaping a brighter future for the youth and the nation.
