Ghana must urgently address persistent challenges in its energy and cocoa sectors to maintain economic stability and growth, according to the World Bank’s latest report.
The report warns that mismanagement of state-owned enterprises and falling export revenues could undermine recent economic progress.
In particular, it highlights the urgent need for reforms in the energy sector to boost efficiency, improve revenue collection, and encourage private sector participation.
“Energy sector reform, including through private sector participation, is urgent to improve management effectiveness and the collection of energy revenues,” the report noted.
Cocoa, a major foreign exchange earner for Ghana, faces mounting threats from volatile global prices, low farm productivity, and climate change.
The Bank cautions that without targeted interventions, these risks could weaken the broader economy.
While Ghana recorded economic growth of 5.7% in 2024 and 5.3% in early 2025, the World Bank projects a slowdown to 3.9% for the year, citing high interest rates, persistent inflation, and global economic uncertainties.
To safeguard long-term stability, the Bank recommends maintaining fiscal discipline, improving public spending efficiency, and creating more jobs, particularly for young people while boosting productivity in agriculture, manufacturing, and services.
Addressing the energy and cocoa sector weaknesses, the report added that , it is not only essential for protecting current gains but also for unlocking new opportunities for sustainable economic growth.
