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World Bank Highlights Ghana’s Economic Transformation Potential with 24-Hour Economy and Big Push Programme


Accra: The World Bank has highlighted the significant potential of Ghana’s 24-Hour Economy and Big Push programmes in reducing poverty if implemented effectively. Mr. Robert Taliercio O’Brien, the World Bank Country Director, emphasized the opportunity these programmes present for ambitious reforms aimed at promoting broad-based resilient economic growth and job creation.



According to Ghana News Agency, Mr. O’Brien shared insights at the launch of the 2025 Policy Notes titled “Transforming Ghana in a Generation.” He stressed that successful reforms could significantly boost Ghana’s per capita income by 2050, propelling the nation towards upper-middle-income status. However, he noted that achieving these reforms requires robust governance and purpose-driven public institutions.



Mr. O’Brien highlighted the collective effort needed for transformation, involving government commitment, private sector innovation, civil society participation, and international community partnership. Discussing the policy notes, Mr. Stefano Curto, Lead Country Economist of the World Bank Group, pointed out the stagnation of poverty reduction in Ghana over the past decade. He attributed this to reliance on natural resources and limited structural transformation, which resulted in only marginal productivity gains as new jobs primarily emerged in low-productivity sectors like informal services, mining, and agriculture.



Mr. Curto expressed concern about the recent reversal in poverty reduction progress due to high inflation and slower economic growth, exacerbated by the COVID-19 pandemic and the Russia-Ukraine war. The increase in food and fuel prices has significantly impacted household purchasing power, affecting the economically vulnerable and middle class.



He underscored the next four years as a critical period for breaking away from past practices and strengthening the social contract. The new government, he noted, has a unique opportunity to lay the groundwork for broader economic growth and structural transformation. The Big Push Agenda, a $10 billion national infrastructure development programme, aims to drive significant investment in roads, railways, and other critical infrastructure. The 24-Hour Economy policy is designed to increase productivity and create at least 1.7 million new jobs over four years.