Ghana’s Economic Agenda Gains Urgency as PwC Urges Increased Spending and World Bank Targets Informal Sector

Introduction

Ghana’s economic landscape is facing a pivotal juncture as international financial institutions, policy advisors, and government officials converge on strategies to secure long-term stability and growth. Following recent high-level consultations—including the Finance Minister’s engagement with traditional authorities for the New Economy Agenda—new fiscal directives and structural recommendations have emerged to reshape the country’s financial future.

PwC Calls for Fiscal Expansion in 2027

Global audit and advisory firm PwC has advised the Ghanaian government to scale up public spending in 2027 to stimulate broader economic growth. The recommendation comes as policymakers navigate the balance between fiscal consolidation and the urgent need to unlock domestic productive capacity using the nation’s abundant natural resources.

Securing the Informal Workforce

In a parallel development, United Nations Special Advocate for Inclusive Finance for Development, Queen Máxima, alongside the World Bank, has intensified advocacy for robust pension schemes tailored to Ghana’s vast informal sector. Ensuring social security for informal workers is viewed as a critical step toward reducing systemic poverty and stabilizing domestic savings.

Regulatory Shifts in the Financial Sector

Meanwhile, the Bank of Ghana (BoG) has introduced a stringent regulatory directive prohibiting Payment Service Providers (PSPs) from holding merchant funds. The move is designed to enhance consumer protection, minimize systemic risk, and reinforce institutional trust within the rapidly digitizing financial ecosystem.

Key Takeaways

• PwC recommends increased government spending in 2027 to spur economic momentum.
• Queen Máxima and the World Bank champion pension inclusion for Ghana’s informal workforce.
• Bank of Ghana bars Payment Service Providers from holding merchant funds to safeguard the digital financial sector.
• Ongoing discussions focus on leveraging domestic resources to build a more self-sustaining economy.