AfDB Report Urges Strategic Investments in Value-Added Activities for Ghana’s Structural Transformation
Ghana’s structural transformation hinges on strategic investments in value-added activities and resilience-building measures, according to the Agricultural Development Bank’s 2024 African Economic Outlook Report.
The report stresses that to drive the desired economic transformation, Ghana must focus on enhancing macroeconomic management and boosting domestic resource mobilization.
This requires targeted reforms, including better coordination of public sector initiatives, fast-tracking debt restructuring, expanding concessional financing, and deepening financial markets to improve access to affordable credit.
The report paints a sobering picture of Ghana’s economic landscape, noting that while services have become the dominant employment sector, productivity in this area has stagnated.
Meanwhile, the agriculture sector’s share of employment has sharply declined from 53.9% in 2007 to 29.8% in 2019, with modest gains in industry.
To accelerate structural transformation, the report advocates for improving infrastructure, advancing agro-industrialization through enhanced skills and value addition, and fostering private sector development.
Furthermore, it calls for the establishment of a robust policy framework to facilitate technology adoption and innovation, positioning Ghana to better compete on the global stage.
