Only 7.7% of Ghana’s 2.64m businesses operate formally – Government Statistician
Government Statistician Dr Alhassan Iddrisu says only 7.7% of Ghana’s 2.64 million businesses were operating formally in 2024, highlighting persistent challenges in business formalisation and job creation.
Government Statistician Dr Alhassan Iddrisu revealed in Accra that only 7.7% of Ghana's 2.64 million businesses were operating formally in 2024. He pointed out the disparity between the growth of businesses and the lack of corresponding job creation, emphasizing the challenges in formalizing businesses and generating employment opportunities.
Dr Iddrisu noted that micro enterprises accounted for 90% of all businesses, and the number of establishments nearly tripled from 2014 to 2024, while employment doubled. Despite Ghana's declining unemployment rate from 14.6% in 2023 to 12.8% in 2025, over 70% of jobs remained informal. The publication Ghana in Numbers 2025, which consolidates various statistics, aims to provide policymakers, businesses, and stakeholders with a shared evidence base for informed decision-making.
Dr Iddrisu stressed that reliable data must translate into practical actions and measurable development outcomes.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
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