The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has highlighted the importance of a stable economy and cheaper credit in creating jobs for Ghana's youth. He made this statement at the launch of the maiden edition of Ghana in Numbers 2025, a publication by the Ghana Statistical Service. Dr Asiama noted that recent macroeconomic management efforts have led to improved conditions for businesses to access financing and expand operations.
Dr Asiama announced that the average lending rate has declined from 30.25 per cent in December 2024 to 15.78 per cent in September 2026. Additionally, growth in real private sector credit has risen sharply from 0.20 per cent to 26.42 per cent over the same period. These figures reflect improvements in credit conditions, alongside a sustained decline in inflation, relative stability in the exchange rate, and greater resilience in the banking sector.
The Governor emphasized that maintaining a stable macroeconomic environment and a well-functioning financial system is crucial for expanding economic opportunities, particularly for young people seeking employment or looking to establish businesses. He noted that Ghana's large youth population offers considerable potential for innovation and entrepreneurship, but realizing that potential requires deliberate investment in skills and enterprise development.
Dr Asiama stressed that young people need relevant training, access to opportunities, and an environment that encourages investment and business growth. Achieving these objectives requires coordinated action informed by reliable data on the circumstances of young people, the gaps in opportunities available to them, and the policies needed to address those gaps. The Ghana in Numbers publication can support this process by bringing demographic, social, and economic information together to inform national debate and policy decisions.
The Governor also highlighted the importance of access to finance in helping young people turn business ideas into viable enterprises. He noted that the Bank of Ghana is pursuing complementary initiatives to improve financial inclusion and financial health while encouraging responsible innovation in the financial sector. These initiatives aim to make formal financial services more accessible, affordable, and convenient, particularly for young people, women, micro, small, and medium-sized enterprises, and underserved communities.
Dr Asiama urged stakeholders to view Ghana in Numbers 2025 as more than a statistical publication, describing it as a national resource for assessing the country's circumstances, measuring progress, and making informed decisions about the future. He congratulated the Ghana Statistical Service, its Governing Board and Management, as well as the institutions and individuals who contributed to the publication.
The Governor expressed hope that the report would become a trusted national reference for strengthening transparency, supporting evidence-based policymaking, and promoting a more productive and inclusive economy, particularly for young people. He emphasized that a stable economy and an effective financial system are essential for ensuring that more people and businesses can participate in productive economic activity.
Key points
- A stable economy and cheaper credit are crucial for creating jobs for Ghana's youth.
- The Bank of Ghana is pursuing initiatives to improve financial inclusion and financial health.
- Ghana's large youth population offers considerable potential for innovation and entrepreneurship.
