Ghana has climbed the economic rankings on the African continent, moving from the 10th to the 8th richest country in Africa, the Minister for Labour, Jobs and Employment, Dr. Abdul-Rashid Pelpuo, has announced.
Dr. Pelpuo attributed the significant improvement in the country’s economic standing to effective leadership and sound economic management under President John Dramani Mahama’s administration, marking what he described as measurable progress within just one year in office.
In an interview with Citi FM on Sunday, February 22, Dr. Pelpuo said Ghana’s Gross Domestic Product (GDP) has surpassed GH¢100 billion, underscoring the country’s strengthened economic position.
“This government is a committed government. The President has shown that leadership can make a big difference. With this past year, Ghana can be different altogether. We were in 10th place among rich countries. After one year of administration, good governance and committed leadership, we shot up to the 8th position, with a GDP that is above GH¢100 billion,” the Minister stated.
Consolidating Gains and Future Focus
Dr. Pelpuo emphasized that while the improved ranking marks a positive milestone, the government remains focused on consolidating economic gains and sustaining growth through targeted policies. A key priority, he highlighted, will be job creation and labour reforms aimed at raising living standards for Ghanaians.
The minister’s comments reflect a broader narrative from the current administration that underscores stability and renewed economic direction messages President Mahama has reiterated at business forums and international engagements in recent months.
Context and Outlook
Ghana’s rise in the continental wealth ranking comes as the nation continues its recovery from economic challenges experienced in recent years, including high inflation and currency pressures. Analysts point to diversified revenue streams, sustained growth in key sectors such as services and commodities exports, and stabilization policies as factors contributing to recent economic improvements.
However, experts also note that translating improved GDP figures into tangible benefits for households such as reduced cost of living and increased employment will be essential for long-term prosperity.