Ghana's economy is growing, but it is not creating enough jobs for its people. A top financial expert flagged this problem. This means that even though the country's economic numbers look good, many people are not finding work. The growth is happening in areas that do not need many workers.
Yaw Appiah Lartey, a Partner at Deloitte Ghana, shared this concern. He explained that while Ghana has seen good news in things like lower inflation and a stronger currency, the real issue is where this growth is coming from. The sectors that are expanding, like technology and finance, are not hiring large numbers of people. This is called "jobless growth." Mr. Appiah Lartey spoke about this on JoyNews on April 30. He pointed out that this is a deeper problem than just the numbers. It affects whether normal families and businesses are actually doing better.
The government has worked hard to fix the economy. Since 2024, important economic signs have improved. GDP, which measures all the goods and services produced, grew from 5.7% to 6% by the end of 2025. Inflation, the rate at which prices rise, dropped from a high of 23.8% to just 3.2%. The amount of money Ghana has in foreign currency also went up from $9.1 billion to $14.5 billion. Ghana's debt, compared to its total economic output (debt-to-GDP ratio), fell from 61.8% to 45.3%. This is better than the target set by the International Monetary Fund (IMF), which is 55%. These improvements show that the country's economy is becoming more stable.
However, Mr. Appiah Lartey warned that looking good on paper is not enough. He stated, "So yes, the indicators are looking good… but have you built a robust and resilient economy?" He believes the quality of economic growth is more important than the size of the numbers. The growth Ghana has seen lately comes mainly from services. These include things like information technology, banks, transportation, schools, and hospitals. But important sectors that usually create many jobs are struggling. These are construction, factories (manufacturing), electricity, water, mining, oil, and gas. Some of these sectors have even shrunk. For example, oil and gas saw contractions of 22.5%, 18.2%, and 16.8% in different parts of 2025. Water, sewage, and construction also faced problems.
This situation means Ghana's economy might be stable financially. But it is not building a strong base for long-term success and development. The National Development Planning Commission has also found that manufacturing, construction, and utility sectors have contributed less to the economy's growth over the last 10 years. This trend helps explain why unemployment has not fallen much, even with stronger economic growth. Mr. Appiah Lartey said, "We are not having a significant reduction in unemployment." He stressed that economic growth that does not lead to more jobs in key industries limits prosperity for everyone in the country.