040
W estern
A frica :
G hana
G H A N A
Western Africa: Ghana Overview Ghana had a GDP of USD $65.6 billion in 2018 and has a population of 31.1 million in 2020.175,176 It has approximately 1.78 million small- and medium-sized enterprises (SMEs) and 7.5 million jobs. The International Monetary Fund’s (IMF) initial estimates (post-COVID-19) expect Ghana’s economy to grow at a rate of 5.9% in 2021, an adjustment of -0.4% from pre-COVID-19 estimates, after growth is expected to slow to 1.5% in 2020 (from a previous projection of 5.8% growth in December 2019).177,178 This study estimates that approximately 97,500 social enterprises are active in Ghana, directly employing around 413,300 people.179 The population is expected to grow by 2.2% annually,180 leading to a working age population (15-64) of 23.3 million people in 2030. This study estimates there will be approximately 508,800 direct jobs in social enterprises in Ghana by 2030, adding more than 95,500 from 2020. As discussed further below, government support and increased mobile money penetration are expected to drive this growth in jobs. In addition, social enterprises in the agricultural sector are projected to provide the most income-generated opportunities, driven by the government’s delivery of technical and operational support to smallholder farmers. Figure 16 shows the expected growth in direct jobs in social enterprises between 2020 and 2030.
0.6 M
508,821 0.5 M
413,340 0.4 M
0.3 M
0.2 M
0.1 M
0
Number of jobs 2020
Number of jobs 2030
Figure 16: Estimated direct jobs in social enterprises in Ghana 2020-2030
