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26 March 2020 - Some economists are suggesting that the Ghana government should take drastic economic measures to stimulate the economy amid the COVID-19 (novel Coronavirus) situation. They are backing the government’s decision to approach the International Monetary Fund (IMF) for a Rapid Credit Facility to help fight the COVID-19 pandemic. The IMF is currently evaluating Ghana’s request.

Bank of Ghana is predicting that economic growth will slow down from the projected 6.8% in 2020 to 5.0% in the baseline scenario and 2.5% in the worst-case scenario. According to economist Courage Boti, the Rapid Credit Facility will increase the country’s debt portfolio. However, it is crucial to mitigate the impact of the COVID-19 (novel Coronavirus) outbreak. During this period, there is a need for extra fiscal stimulus to maintain growth against less aggregate demand. Take the Survey about Living and Working during COVID-19

1 March 2020 - The workforce in Ghana is currently facing employment challenges as the two major energy companies of the country, Tullow Ghana and Kosmos Energy, have been laying off workers. This is due to problems with oil production, among other issues. The General Transport, Petroleum and Chemical Workers’ Union of the Ghana Trades Union Congress (TUC) is putting pressure on the government, and urging them to disallow the firing of the employees. 

Currently, approximately 25% of Tullow workers in Ghana have lost their jobs. According to a statement signed by the National Chairman of the Union, Bernard Owusu, the causes of the company’s challenges are traceable to managerial weakness and not necessarily labor challenges. Learn more about Employment Security in Ghana

25 February 2020 - Ghana's debt per capita continues to rise despite several attempts by the government in improving economic fundamentals. According to the Bank of Ghana,  the country's public debt reached GH¢ 214.9 billion, which amounts to a GH¢7,163 debt per capita. This shows that there has been an increase from GH¢6,950 in September 2019. From 2012, this indicates a nearly 500 percent rise. Ghana's surging debt continues to be concerning as such a situation makes the economy susceptible to shocks such as commodity price changes on the international market due to dependence on primary commodity exports. There are fears that Ghana may soon face a debt crisis. Several factors are contributing to this, such as over-reliance on commodities, unfavorable conditions attached to loans, and inadequate revenue mobilization. Help us understand life in Ghana by taking our Cost of Living survey 

19 February 2020 - The Ghanian government has refused to grant the demand of the Civil and Local Government Staff Association of Ghana (CLOGSAG) for a 15% increment in premium. This has caused the CLOGSAG to threaten to protest. They brought this demand to the government after the Head of the Civil Service said in a statement that the 12% increment which began last month was a mistake. At a press conference, the Executive Secretary of the Association, Isaac Bampoe Addo said, “The Memorandum signed between the government of Ghana and the Civil and Local Government Staff Association Ghana (CLOGSAG) on the other hand, gave a 15 percent premium payable to CLOGSAG members with effect from 1st January 2017. However, today only ten percent interim premium has been paid”. The CLOGSAG had also threatened to strike last year over attempts to prevent the implementation of their three-tier pension scheme for its members. Find out more about Trade Unions in Ghana

5 February 2020 - The Ghanian Minister of Employment and Labour recently launched an apprenticeship and employable skills training project to help youth avail employment opportunities. The project aims to train people in tiling, masonry, plumbing, tailoring, dressmaking, hairdressing, and cosmetology, which will help reduce unemployment in the youth. The 48,000 Euro-project, is being funded by the German government through the German Development Cooperation (GIZ). It will provide direct jobs for 150 young men and women in five communities, the Odumase, Chiraa, Fiapre, and Nsoatre in Sunyani West and Kwasibourkrom in Jaman South. The two foremost members involved in the project are the Ghanaian-German Centre for Jobs, Migration, and Reintegration (GGC) and Top Vision, a non-governmental organization. The GGC is part of the global project "Programme Migration for Development," commissioned by the German Federal Ministry for Economic Cooperation and Development. Supporting Ghana's efforts at improving the living conditions of the people by providing the youth with better skills and job opportunities is its primary objective. Learn how training can help you get better job opportunities

30 January 2020 - Ghana's mango production has the potential to change the country's economy, more than cocoa and other export products, according to recent statistics. The northern regions of the country, with their abundant moisture and hot temperatures, such as Coastal Savannah, Northern Ashanti, and others, are particularly suitable for large-scale production of export-grade mangoes. However, the government has not paid adequate attention to this potential. Consequently, farmers are struggling to save their yields from the Black Bacteria Disease (BBS) that has plagued the sector. "This needs a national approach through mass spraying or an introduction of bactericides that can take care of the disease. Without that, the mango industry will collapse,” said Godfred Alimo, Secretary of Fair Trade group Blue Skies Mango Collectives. Last year, almost 70 percent of mango production was affected by BBS in the southern sector. These challenges faced by the fruit production sector are hindering the interest of farmers to further engage in it. Find out more about Minimum Wages in Ghana

19 January 2020 - The Finance Ministry of Ghana signed agreements worth  $570 million dollars, proposed to help in transforming the economy, boosting education, improve sanitation and fight flooding in Accra as well as reduce forest losses. This will support The Greater Accra Resilient and Integrated Development project, The Ghana Accountability for Learning Outcomes Project, and other such projects. The Ghanaian Finance Minister, Mr Ofori-Atta, said the projects would help further the government’s quest for inclusiveness and transformation and thanked the World Bank for its support. Some of the projects being supported include The Greater Accra Resilient and Integrated Development project, which is a $200 million transformative urban project to help Greater Accra become a cleaner, and more resilient city. The Ghana Accountability for Learning Outcomes Project is a six-year project to improve the quality of education and strengthen education sector equity and accountability in Ghana. This deal will also support several other programmes. Take our Cost of Living Survey

15 January 2020 - The Nation Builders Corps (NABCO) introduced by the government in 2018 is helping solve issues of graduate unemployment confronting Ghana, said Dr Ibrahim Anyars, the scheme’s CEO. The programme has gradually addressed many problems, and has helped over 11,000 graduates secure permanent employment. The NABCO scheme is one of many schemes implemented by the government to tackle the challenge of graduate unemployment. Despite the initial challenges faced by the scheme, the government worked to resolve the issues and has been running it smoothly. Since 2018, more than 100,000 graduates have been engaged in several sectors of the economy, from education to entrepreneurship. The programme is providing opportunities for graduates to be equipped with the required relevant skills to compete in the job market. The Upper East Regional Minister also noted that only 10 percent of graduates were employed earlier, which made this a national issue. Learn more about the importance of training and retraining

10 January 2020 - The  National Labour Commission (NLC) has instructed the Technical University Teachers Association of Ghana (TUTAG) to call off their four-day old strike and return to work with immediate effect. TUTAG had declared an indefinite strike, demanding the payment of the allowances owed to them and stating that the government refused to comply with the ruling of the NLC. A similar protest was held by the Technical University Senior Administrators Association of Ghana (TUSAAG). These strikes have hampered teaching and learning, and hence the Student Representative Council of the Accra Technical University (ATU) with support from the Ghana National Union of Technical Students (GNUTS) has threatened to start a country-wide demonstration if the government fails to address the issues raised by TUTAG. The Ministry of Finance, Ministry of Employment and Labour Relations, Ministry of Education and other stakeholders said payment of dues would be made soon. Find out more about Minimum Wages

16 December 2019 - Three teachers' unions, Ghana National Association of Teachers (GNAT), National Association of Graduate Teachers (NAGRAT) and Coalition of Concerned Teachers (CCT) have been on a nationwide strike, demanding immediate payment of their outstanding salaries and allowances. They have continued their strike despite the National Labour Commission’s (NLC) order to call it off. The National Chairman of the NLC, Mr.Andy Kwabena Asamoah, has described the strike of the unions as illegal after a meeting between the NLC, representatives of the Ghana Education Service (GES), Ministry of Education (MOE), the Fair Wages and Salary Commission (FWSC). He has demanded that the teachers go back to their classrooms immediately, but the teachers have refused to go to work until their dues are paid. However, some junior high school teachers were seen teaching their final year students, helping them prepare for their impending Basic School Certificate Examination (BECE). What kind of salaries do teachers earn?

11 December 2019 - According to the latest report by the World Bank, Ghana needs to diversify its economy to achieve a more balanced growth. Mr. Laporte, the World Bank Country Director for Ghana said, the need for economic diversification has become necessary to create more jobs given the drastic changes in the prices of essential commodities and the increasing population of the country. Ghana’s economy in the past has mainly depended on its natural resources, such as the export of gold, oil, and cocoa for employment and growth. However, 40 percent of the workforce works in non-wage agriculture, and urban workers are in informal jobs in the service sectors. Hence, the report has suggested agribusiness, chemicals as well as textiles and apparels sectors as good prospective sectors for the country to diversify its economy. The government’s strategy to achieve inclusive and sustainable growth with the private sector as its focus will require the diversification of the Ghanaian economy. Take our Salary Survey