Joseph Yoyowah

1077 Articles
SSNIT Board Inaugurated Amid Rising Public Scrutiny: Finance Minister Warns Against Politicized Asset Sales
News

Finance Minister Warns New SSNIT Board: “Don’t Sell State Assets to Politicians”

Finance Minister Dr. Ato Forson has inaugurated a new SSNIT Board, urging transparency and warning against political asset sales. He…

3 Min Read
Ghana Gold Board Commits to Full Gold Traceability by September 2025: CEO Announces at Mining in Motion Summit
News

GoldBod Commits to Full Gold Traceability by September 2025 – Says CEO

Ghana Gold Board will implement full gold traceability by September 2025 to combat illicit sourcing, according to CEO Sammy Gyamfi…

4 Min Read
Government
News

Gov’t in Advanced Talks with Strategic Investor for AT Revamp and Takeover

Government is negotiating with a strategic investor to revamp and potentially take over AirtelTigo (AT), with a 60-day timeline to…

3 Min Read
Ghana’s headline unemployment rate is expected to hold steady at 3.1% through 2025 and 2026, according to a new report by Fitch Solutions' Country Risk team. However, the seemingly low rate masks a deeper set of structural issues within the Ghanaian labour market issues that continue to weigh on the country’s economic resilience and social fabric. Fitch’s projection signals a continuation of the gradual upward trend observed since 2017, suggesting that while unemployment may appear stable, underlying vulnerabilities in labour quality and workforce sustainability remain unaddressed. “A significant constraint stems from the country’s low life expectancy estimated at just 64.3 years which dampens the productive capacity of the labour force,” the report stated. The short life expectancy, Fitch notes, is a result of chronic underinvestment in public healthcare and a persistent burden of waterborne diseases and illnesses such as HIV/AIDS. These health challenges erode long-term productivity and workforce stability. Compounding the issue is a widening skills gap. The report highlights a growing reliance on expatriate professionals across key sectors, as the local talent pool struggles to meet demand for highly skilled labour. This talent deficit limits Ghana’s ability to drive innovation and growth from within. Contradiction with Local Data Fitch’s unemployment forecast stands in stark contrast to data published by the Ghana Statistical Service (GSS). According to the GSS Q3 2023 Labour Statistics report, Ghana’s average unemployment rate for the first three quarters of 2023 stood at a significantly higher 14.7%. The report also underscored persistent gender and urban-rural disparities: Gender Gap: Female unemployment has consistently outpaced male rates, with the gap widening through 2023. Urban-Rural Divide: Urban unemployment was nearly double that of rural areas in Q2 and Q3 of 2023. These discrepancies raise questions about the methodology used in various labour statistics and highlight the complexity of capturing Ghana’s employment realities, particularly in an economy heavily marked by informality and underemployment. Ghana’s job market is a flashpoint for public discontent. A recent 2024 Afrobarometer survey identified unemployment as the top national concern—ranking higher than infrastructure deficits and healthcare gaps. This sentiment reflects deep frustration, particularly among the youth, who face limited prospects for formal employment despite high education levels. “While the unemployment rate may appear modest by international standards, the data masks underemployment and informality both of which are endemic in Ghana’s economy,” the Fitch report warns. Indeed, a vast portion of Ghana’s working population remains trapped in low-income, informal jobs with little social protection or upward mobility. Amid these structural imbalances, Fitch advocates for long-term reform to boost employment opportunities and create a more inclusive economy. Public sentiment remains cautiously optimistic, with support for government-led initiatives aimed at improving access to education, healthcare, and job opportunities. However, Fitch warns that without meaningful change, Ghana’s potential demographic dividend may become a demographic burden. The need for a coherent jobs strategy one that addresses both formal employment creation and the quality of work is more urgent than ever. Tackling informality, enhancing vocational training, and investing in public health could yield the workforce transformation Ghana requires for inclusive and sustainable growth. As Ghana holds steady on paper, the real labour market story lies beneath the surface demanding urgent attention from both policymakers and private sector stakeholders.
News

Ghana’s Unemployment Rate to Remain at 3.1% in 2025, But Underlying Challenges Persist – Fitch Solutions

Fitch Solutions projects Ghana’s unemployment rate will remain at 3.1% for two years, despite structural labour market issues.

4 Min Read
GRA Accelerates E-VAT Rollout with 3,000 Businesses Onboarded and 5,000 More in Pipeline
News

GRA Accelerates E-VAT Rollout with 3,000 Businesses On-boarded and 5,000 More in Pipeline

The Ghana Revenue Authority has on-boarded 3,000 businesses onto the E-VAT system, with 5,000 more set to join. Acting Commissioner-General…

4 Min Read
Competitiveness vs Revenue: How Ghana's Sliding Scale Royalty Regime Compares with African Peers
Business & Economy

Ghana’s Mineral Sector Set for Strong Growth in 2025- Chamber of Mines

Ghana's mineral output is set to rise in 2025, with gold production projected at up to 5.1 million ounces. Key…

3 Min Read
TUC Rejects Electricity Tariff Hike, Accuses PURC of Manipulating Adjustment Process
Business & EconomyNews

TUC Warns Against Exchange Rate Volatility, Urges Stability to Protect Businesses and Exports

The TUC warns that extreme exchange rate volatility threatens business stability, especially in export sectors. At an ILO forum, experts…

3 Min Read
Ghana’s Tax Dilemma: Bridging the Gap Between Ambition and Economic Reality- Seth Terkper Explains.
Business & Economy

Ghana’s Tax Dilemma: Bridging the Gap Between Ambition and Economic Reality- Seth Terkper Explains.

Former Finance Minister Seth Terkper urges a tax system overhaul, citing Ghana’s low tax-to-GDP ratio (13–14%) and overtaxed formal sector.…

6 Min Read
Telcos Face December Deadline or Heavy Fines as Minister Sam George Demands Better Service Quality
InnovationNews

Telcos Face December Deadline or Heavy Fines as Minister Sam George Demands Better Service Quality

Minister Sam George has given Ghana’s telecom operators until December 31, 2025, to improve service quality or face heavy fines…

5 Min Read
Dumelo Unveils $87M ‘Bridge in Agriculture’ to Catalyze Youth and Women-Led Agribusiness
Business & EconomyNews

‘Bridge in Agriculture’ program unveiled to Catalyze Youth, Women-Led Agribusinesses

Deputy Agriculture Minister John Dumelo has launched the $87 million Bridge in Agriculture Programme to support youth- and women-led agribusinesses.…

3 Min Read
Bulk Oil Distributors Unite in a Move to Support Gov’t to Shield Consumers from Fuel Price Shock
Business & EconomyMarkets

Fuel Prices Set to Drop Further as Cedi Strengthens- ASEC Forecasts Relief at the Pumps

Fuel prices in Ghana are expected to drop 5–9% in the next pricing window, driven by a stronger cedi and…

3 Min Read
Cedi Gains Fail to Ease Housing Costs as GREDA Flags Foreign Developer Snub
Business & EconomyMarkets

Cedi Gains Fail to Ease Housing Costs as GREDA Flags Foreign Developer Snub

Despite the cedi’s 2025 rebound, GREDA says housing prices remain high due to elevated construction costs. The association also warns…

3 Min Read
After Years of Decline, Has Ghana's Oil Industry Finally Turned the Corner?
Business & Economy

PIAC Raises Red Flags Over Investment Drought in Ghana’s Upstream Petroleum Sector

PIAC warns that Ghana's upstream petroleum sector faces economic risk due to a lack of new investments since 2018. It…

3 Min Read
Ghana and UAE have signed an MoU to launch the Ghana-UAE Innovation and Technology Hub, aiming to position Ghana as a digital leader, boost exports in advanced tech, and create thousands of jobs. The partnership marks a major step in Ghana’s economic diversification and tech-driven growth.
InnovationNews

Ghana and UAE Launch Landmark Innovation Hub to Drive Digital Economy and Tech Exports

Ghana and the UAE have signed an MoU to launch the Ghana-UAE Innovation and Technology Hub, aiming to position Ghana…

2 Min Read
Ghana Poised to Break Gold Production Record in 2025, Cementing Its Position as Africa’s Top Producer
Business & EconomyMarketsNews

Ghana Poised to Break Gold Production Record, Cementing Its Position as Africa’s Top Producer

Ghana is projected to produce over 5 million ounces of gold in 2025, solidifying its lead as Africa’s top gold…

3 Min Read