Ghana's economic recovery, marked by improving inflation and a stable currency, is not yet translating into sufficient job creation, particularly for its youth.
Joe Jackson, CEO of Dalex Finance, told the JoyBusiness Roundtable on April 30 that while Ghana has made strides in stabilising key economic indicators, this stability must lead to real improvement in people's lives. He stressed that stabilisation itself is not the final goal.
These comments come as government officials point to falling inflation, easing lending rates, and a more stable currency as signs of a healing economy. However, many Ghanaians, especially young people, still face challenges in finding employment. Mr. Jackson noted that moving an economy from stabilisation to full growth takes time. He argued that clear policies are needed to drive this transition. Policymakers should focus on concrete actions to move beyond mere stabilisation.
Mr. Jackson identified job creation as the most significant weak point in Ghana's current economic rebound. He stated that the nation is not creating enough jobs for its young population. Without strong job growth, the broader economic gains might not benefit many households significantly. He praised the government for restoring a degree of economic stability. However, he emphasized that the critical question now is about future strategic direction. "The real question is what is being done on transformation, because stabilisation was never the end game," he added.
His remarks reflect a growing agreement among experts. Ghana's economic success will be measured not only by economic numbers but also by its ability to create jobs, increase incomes, and improve living standards. This requires sustained policy focus beyond macroeconomic adjustments.