By Daniel ODONKOR
As Ghana approaches its general elections, it is time for us to revisit and rethink one of the most critical aspects of our future—education. While much attention is often paid to reforming existing structures, there is one overlooked subject that holds the key to transforming not just our economy, but also the mind-set of future generations: entrepreneurship education.
Entrepreneurship education, when incorporated at the basic and secondary school levels, can be the game-changer Africa needs. A subject does not merely train students to start businesses, but also equips them with the mind-set and skills necessary to navigate an increasingly uncertain world.
While our current education systems focus on rote learning and traditional career pathways, the world has changed; and the global economy demands new kinds of thinkers – entrepreneurial one.
The COVID-19 wake-up call
Until COVID-19 hit and many jobs were lost, we did not fully understand how quickly people would turn to entrepreneurship as a means of survival. A 2020 survey by the International Labour Organization (ILO) revealed that over 60 percent of job losses in sub-Saharan Africa were due to the pandemic, and many displaced workers turned to small business ventures as their only means of survival.
What if everyone had already received an entrepreneurial education from an early age? Wouldn’t that transition have been smoother? Entrepreneurship, in this case, would not have been a fall back option but a natural pathway, with individuals armed with the skills to identify opportunities and solve problems.
During my Master of Arts studies at Coventry University, I conducted a research on the possibility of incorporating entrepreneurship as a subject within the UK’s educational curriculum.
With the support of Ultra Education CIC, the UK’s leading organisation for entrepreneurial studies for kids aged 7-18, the research revealed significant interest from parents. Surprisingly, many parents expressed strong support for their children to be educated entrepreneurially. This feedback underscores the growing recognition that entrepreneurship education is not just a business strategy, but also an essential life skill.
Now, with the rapid advancement of AI and automation, many jobs are being replaced by technology. The World Economic Forum (WEF) estimates that by 2025, 85 million jobs could be displaced by AI globally; but at the same time, 97 million new roles requiring entrepreneurial and creative skills may emerge.
It’s clear that entrepreneurship education is not just desirable—it’s essential. Entrepreneurship hones traits like problem-solving, leadership, marketing and being results-oriented—all critical in today’s job market, even for those who do not start their own businesses.
Comparing the outcomes: Countries with entrepreneurship education vs. those without
Countries that have successfully incorporated entrepreneurship education into their curricula have seen significant economic and social benefits. Finland, for example, is a global leader in education reform. In 2009, Finland introduced entrepreneurship education across all levels of schooling, focusing on creativity, innovation and hands-on problem-solving.
According to the European Commission, since then, Finland has seen a 25 percent increase in youth entrepreneurship, contributing to its vibrant start-up ecosystem. The country’s capital, Helsinki, is now home to the annual ‘Slush Event’ – one of the world’s leading start-up conferences, further showcasing the country’s entrepreneurial success.
Similarly, the United States has made strides in incorporating entrepreneurship into its education system, particularly at the high school level. Programmes like the Network for Teaching Entrepreneurship (NFTE) have been pivotal in giving students real-world business experience.
NFTE reports that students who participate in its programmes are 30 percent more likely to start their own businesses and are more resilient in the face of economic challenges. Additionally, a study by the Kauffman Foundation revealed that entrepreneurial activity in the US contributed to nearly 50 percent of job growth in the past two decades.
In contrast, Ghana and many other African nations are lagging behind in this area. Without a structured approach to entrepreneurship education, many young people in Africa complete their studies without the critical skills needed to start businesses or create jobs. The African Development Bank (AfDB) reports that Africa has the youngest population in the world, with nearly 60 percent of its population under 25.
However, youth unemployment remains a significant issue, with the unemployment rate among young people in Ghana hovering around 12 percent. This is in stark contrast to countries like Finland, where youth unemployment is much lower, largely due to entrepreneurial initiatives.
Africa’s potential and the entrepreneurial mindset
For Africa to truly thrive, we must move from being consumers to becoming producers. We have the natural resources, the talent and the potential; but we lack the entrepreneurial mindset needed to fully harness these assets.
According to a report by the Global Entrepreneurship Monitor (GEM), African countries have some of the highest rates of entrepreneurial intent globally, with 76 percent of adults in sub-Saharan Africa stating they plan to start a business in the near future. However, these ambitions often fail to materialise due to a lack of structured support, education and mentorship.
Entrepreneurship education can change this narrative. An entrepreneurial mindset is not just about starting businesses; it is about identifying problems and finding solutions—a critical skill for every individual, whether they become entrepreneurs or not.
By equipping students with this mindset early, we can develop a generation of problem solvers and innovators, capable of driving economic growth and development across the continent.
Further case studies: Successful models of entrepreneurship education
In Denmark, entrepreneurship education has been a part of the national curriculum since 2010, with a focus on developing creativity and business acumen. A study by the Danish Foundation for Entrepreneurship showed that students who received entrepreneurial education had higher employability rates and greater innovation capacity compared to those who did not. This resulted in higher start-up rates, with nearly 19 percent of Danish students expressing the intent to start their own businesses after completing school – a number much higher than the European average.
Similarly, Israel has invested heavily in entrepreneurship education through programmes like the ‘Yozma’ initiative, which integrates business training into schools. As a result, Israel has become known as the ‘Start-ups Nation’, boasting more start-ups per capita than any other country globally. The success of Israel’s high-tech sector is a testament to how entrepreneurship education can transform a nation’s economy.
Policy recommendations for Ghana and Africa
To foster a culture of entrepreneurship in Ghana and across Africa, several steps must be taken:
- Integration of entrepreneurship education into curricula
Governments should mandate the inclusion of entrepreneurship education as part of basic and secondary school curricula. This should be done in partnership with business leaders and educators to ensure students gain both theoretical knowledge and practical skills.
- Training for teachers:
Teachers need to be equipped with the knowledge and tools to teach entrepreneurship. Continuous professional development and certification programmes should be instituted to ensure teachers can effectively impart entrepreneurial skills to their students.
- Partnerships with the private sector:
Collaboration between schools and the private sector can provide mentorship opportunities, internships and funding for student-led projects. This will expose students to real-world business challenges and solutions from an early age.
- Youth entrepreneurship hubs
Governments can establish entrepreneurship hubs within schools, offering students access to resources such as mentors, business incubators and seed funding to help them turn their ideas into viable businesses.
Conclusion
Entrepreneurship education is not just about starting businesses; it’s about cultivating a mindset that fosters creativity, innovation and problem-solving. Countries that have embraced this shift are reaping the rewards, from job creation to economic resilience. Ghana and Africa at large have an incredible opportunity to empower future generations by embedding entrepreneurship into the core of our education systems.
If we do not act now, we risk continuing on the path of dependency and underdevelopment. It is time to ignite a new future; one where our young people are not just job seekers, but job creators, leaders and innovators.
The writer is the CEO of Chaste Shoes Limited.
