Mr Robert Taliercio O’Brien, the World Bank Country Director, has said that Ghana’s 24-Hour Economy and Big Push policies, if effectively implemented, could significantly reduce poverty and transform the country’s economic landscape.
Speaking at the launch of the 2025 Policy Notes titled “Transforming Ghana in a Generation”, Mr O’Brien said the initiatives provide an opportunity to pursue ambitious reforms that promote resilient, broad-based growth and job creation.
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“Our research shows that with ambitious reforms, Ghana could more than triple per capita income by 2050 moving decisively toward upper-middle-income status,”
Robert Taliercio O’Brien, World Bank Country Director
He stressed, however, that achieving such transformation depends on strong governance and effective public institutions, adding that success requires collaboration among the government, private sector, civil society, and the international community.
Discussing the report, Mr Stefano Curto, Lead Country Economist at the World Bank Group, said poverty reduction in Ghana has stalled over the past decade. He attributed this to the nation’s heavy dependence on natural resources and limited structural transformation, which has confined job growth to low-productivity sectors like informal services, mining, and agriculture.
“Income per capita has stagnated at around US$2,200 over the past ten years, and poverty now affects more than one-quarter of the population,”
Stefano Curto, Lead Country Economist
Mr Curto noted that recent high inflation and slower growth, worsened by the COVID-19 pandemic and the Russia-Ukraine conflict, have eroded household purchasing power, especially among vulnerable groups.
The policy notes emphasise that the next four years represent a “unique opportunity” for Ghana to reset its development trajectory, strengthen the social contract, and lay foundations for sustained growth.
The Big Push Agenda, a US$10 billion national infrastructure programme, aims to accelerate investment in roads, railways, and critical infrastructure, while the 24-Hour Economy policy seeks to boost productivity and create 1.7 million jobs within four years.
Together, these initiatives could position Ghana for inclusive and transformative growth, propelling it toward upper-middle-income status within a generation.
