Ghana needs a structured partnership between government and business leaders to drive economic growth. The proposed "CEO-Government Compact" aims to leverage recent macroeconomic stability for a "Big Push" towards transformation.
This partnership is crucial because Ghana has achieved significant economic gains. Inflation has fallen to 3.3 percent. The Ghanaian Cedi saw substantial appreciation in 2025. GDP growth reached 6 percent in 2025. Gross international reserves climbed to GHS 13.8 billion.
These achievements equate to 5.7 months of import cover. The debt to GDP ratio declined to 45.3 percent. This progress reflects fiscal discipline and sound leadership. It also marks a transition to the IMF's Policy Coordination Instrument.
However, stability alone does not guarantee progress. Previous periods of stability, like after the IMF Structural Adjustment Programme in the mid-1990s, did not lead to sustained take-off. The call for a compact highlights the need to actively convert stability into jobs, investment, exports, and higher incomes.
A primary driver for the compact is the urgent issue of youth unemployment. Currently, 1.5 million young Ghanaians are not in employment, education, or training. An additional half a million young people enter the job market annually for the next decade. Under current conditions, only half of them will find work.
Without intervention, Ghana could face over 5 million unemployed youth in a few years. The compact must therefore prioritize job creation and skills development. This includes technical and vocational training, digital skills, and entrepreneurship. Strong industry and academia partnerships are also vital.
The regional economic landscape presents another compelling reason for the compact. Ghana is strategically located within West Africa. This region offers a consumer market of over 400 million people. The collective regional GDP stands at approximately GHS 650 billion.
Factors such as rising urbanization, increasing digital adoption, and a growing middle class are expanding consumer demand. The African Continental Free Trade Area further amplifies these opportunities. Ghana is well-positioned to lead in sectors like pharmaceuticals, financial services, education, healthcare, energy, logistics, consumer goods, and digital infrastructure within ECOWAS.
Capitalizing on these opportunities requires intentionality, coordination, and ambition within a shared transformation agenda. The next phase of Ghana's economic advancement will be heavily influenced by technology. Data, analytics, artificial intelligence, and digital platforms are key drivers.
Technology will shape competitiveness, productivity, and overall growth. President Akuffo-Addo's recent launch of Ghana's National AI Strategy is a significant step. It aims to position Ghana as a leading AI hub in West Africa. Other forward-looking legislative efforts include the proposed NITA Bill.
While the NITA Bill shows commitment to a modern regulatory environment, certain aspects may hinder private sector growth and innovation. Adjustments to the NITA Bill could be necessary to fully realize the vision of becoming an AI hub. This underscores the need for collaborative review of policies affecting the digital economy.
The proposed compact suggests a formal mechanism for dialogue and joint action. This collaboration can help address challenges and capitalize on emerging opportunities. It represents a strategic pivot towards proactive economic management.
The author emphasizes that this is not merely about stability but about an intentional, large-scale effort. The partnership between CEOs and government is presented as the essential framework for this ambitious undertaking. It seeks to translate the hard-won macroeconomic stability into tangible, widespread economic improvement for all Ghanaians.