Ghana’s economic structure hindering job creation – 24-Hour Economy Secretariat.

Abdul Nasser Alidu, Head of Strategy and Programmes at the 24-Hour Economy Secretariat, has raised concerns over the country’s current economic structure, which he says is failing to translate growth into meaningful job creation.

Speaking ahead of the official launch of the 24-Hour Economy policy on July 2, 2025, Mr. Alidu said that despite periods of strong economic performance, Ghana has struggled to create jobs at a rate that benefits its population.

“Ghana’s economy is not creating enough jobs with the growth we have. Because of the way we have structured the economy, we have hampered the ability of the economy to create jobs with the growth that it experiences,” he stated.

He explained that a 2023 analysis of Ghana’s employment elasticity of output—a measure of how growth impacts job creation—revealed a concerning trend.

“In the 1990s, this was around 0.7%. By 2023, it was about 0.2%. It means that in the 1990s, a 10% GDP growth improved the employment rate by about 7%. Today, it is improving by just about 2%,” Mr. Alidu noted.

He warned that such a trajectory is unsustainable, arguing that Ghana’s growth must directly benefit its citizens rather than being absorbed by external systems.

“You cannot build an economy where all your growth translates into job creation somewhere else, and not for your economy. This is why we need the 24-hour Economy,” he said.

According to Mr. Alidu, the upcoming policy is designed to restructure the economy to be more inclusive, resilient, and beneficial to Ghanaians.

“We need to change the structure of the economy so that we now have an economy that is institutionalized and self-reliant, resilient to economic shocks, and whose benefits will be experienced by its people. Where the economy is growing, you will see Ghanaians prospering—not an economy where it is growing, but Ghanaians are not,” he added.

The 24-Hour Economy initiative aims to drive productivity, reduce unemployment, and build a more dynamic economic framework that supports job creation across multiple sectors.

He added that the aim is to also build self-reliance.