Transforming Ghana in a Generation : 2025 Policy Notes

Overview & Synopsis

The 2024 elections arrived at a pivotal moment for Ghana. While the country witnessed substantial progress in economic growth, poverty reduction, and human development in the first decade of the twenty-first century, the following decade saw a decline in economic prospects and a stagnation in poverty alleviation, culminating in the 2022 macroeconomic crisis. The growing dependency on natural resources and the limited structural transformation brought only marginal productivity gains, with most new jobs emerging in low-productivity sectors such as informal services, mining, and agriculture. The next four years offer a unique opportunity to break from past practices and strengthen the social contract. Seizing this opportunity with an urgent reset. With a strong popular mandate and a significant parliamentary majority, the new government is uniquely positioned to lay the foundations to foster broader-based economic growth and structural transformation. Enforcing the rule of law and combating corruption are paramount for the success of the growth strategy, as both macroeconomic crises and the lack of inclusive and diversified growth in Ghana have been symptoms of governance and institutional weaknesses. These weaknesses have eroded the social contract between citizens and the state. Success will ultimately be measured by the ability of the government to regain the trust of its citizens.