92% of Ghanaian businesses operate informally – GSS report

Ghana's economic landscape is dominated by informal businesses, with 92% of enterprises falling into this category, according to a new report by the Ghana Statistical Service. Despite a significant increase in business establishments over the past decade, the majority of these enterprises remain informal. Dr Alhassan Iddrisu, the Government Statistician, unveiled the findings of the Ghana in Numbers 2025 publication in Accra.

The report revealed that while the number of businesses nearly tripled from 2014 to 2024, employment within these establishments only doubled. This discrepancy raises concerns about job creation and the capacity of business expansion to generate sufficient employment opportunities. Unemployment rates have also fluctuated, declining from 14.6% in 2023 to 12.8% in 2025, yet a majority of the jobs remain informal.

Furthermore, a large proportion of Ghana's population falls within the critical age group of 15 to 35 years, yet over 30% of young jobseekers aged between 15 and 24 remain unemployed. Dr Iddrisu emphasized the urgency of addressing education, skills, and employment policies to capitalize on this youth demographic. The report also highlights disparities in economic trends, with inflation decreasing from 54.1% in 2022 to 5.4% in 2025, but food insecurity rising slightly from 37.7% in 2024 to 39.8% in 2025.

Informal cross-border trade with neighboring countries also presents a significant aspect of Ghana's economy, amounting to GH¢38.4 billion. Dr Iddrisu called for strategic support for small enterprises to formalize and expand, urging businesses and investors to utilize the report's findings for informed decision-making. He stressed the importance of turning economic growth into improved livelihoods through evidence-based planning and policymaking.