The World Bank has warned that Ghana’s strong economic growth over the past decade has failed to translate into decent job creation, with youth unemployment, rural-urban migration, and wage stagnation posing serious challenges to inclusive development.
Launching its 9th Ghana Economic Update in Accra under the theme “Addressing labour market challenges and opportunities in Ghana’s economic landscape”, the Bank noted that while the economy has shifted from agriculture to services and industry, many workers remain trapped in low-productivity and insecure jobs. Between 2012 and 2022, real wages declined by 3 per cent, and an estimated one million Ghanaian youth are now living abroad in search of better opportunities.
Mr. Robert Taliercio, the World Bank’s Division Director for Ghana, Liberia, and Sierra Leone, stressed the need for sound macroeconomic policies, better accountability, and stronger coordination among ministries to drive sustainable job creation. “The government must design and implement a holistic economic approach targeted at improving key sectors, particularly the agro-processing value chain, and facilitate school-to-work transitions,” he said.
While acknowledging the challenges, Deputy Finance Minister Thomas Ampem Nyarko expressed optimism about Ghana’s economic future. He revealed that the 2026 budget would prioritize funding for job-creation programmes such as the National Apprenticeship Programme, One Million Coders, and the Edwumawura initiative. The government, he said, plans to commit GHS564 billion to these interventions in 2025, alongside GHS410 million through the National Entrepreneurship and Innovation Programme.
According to Mr. Ampem Nyarko, these initiatives, supported by a strong private sector, are expected to provide hands-on training, coding skills, and entrepreneurship opportunities for young Ghanaians, while broader strategies such as the Big Push for Infrastructure, Agriculture for Economic Transformation, and the 24-Hour Economy Initiative would stimulate indirect job growth.
He assured that the government would incorporate recommendations from the World Bank report and inputs from economic experts into the 2026 budget to address the unemployment challenge. “Since January 2025, government has focused on restoring macroeconomic stability while safeguarding sectors that create jobs, including financial services and energy,” he said.
The World Bank pledged its readiness to support Ghana in implementing these reforms, urging policymakers to strengthen accountability in energy and agriculture, expand the agro-processing sector, and ensure that the benefits of economic growth translate into meaningful employment for citizens.
