On April 23, 2025, Ghana took a major step toward tackling youth unemployment as the World Bank pledged support for a new Growth and Jobs Strategy.
During a meeting at the Bank’s headquarters, Ghana’s Finance Minister, Dr. Cassiel Ato Forson, and Anna Bjerde, World Bank Managing Director for Operations, agreed to collaborate on creating 500,000 jobs annually for young Ghanaians entering the job market.
Dr. Forson shared the development on X, calling it a “bold initiative” to build an inclusive economy for Ghana’s youth. Bjerde emphasized the Bank’s commitment to job creation and economic resilience, leveraging her 30 years of development expertise to drive this partnership. The initiative aligns with the World Bank’s focus on inclusive growth, as outlined in its Country Growth and Jobs Reports.
Ghana’s youth unemployment crisis is a longstanding challenge. A 2022 World Bank report noted that 36% of the population is young, yet the economy has struggled to create sufficient quality jobs. The report recommended integrating digital and soft skills into education and improving job intermediation systems. The new strategy aims to address these gaps by fostering a diversified economy, building on initiatives like the Ghana Economic Transformation Project, which supports private sector growth.
Ghana’s economic context offers cautious optimism. The 2022 report projected 5.6% annual growth through 2024, driven by agriculture, services, and industry. Despite global challenges like trade disruptions, Ghana avoided a 2020 recession, achieving 5.4% growth in 2021.
However, domestic issues persist, with some Ghanaians on X criticizing new banking fees from institutions like GCB Bank PLC, which add financial burdens despite the government scrapping the E-levy.
Public reactions to Dr. Forson’s announcement were mixed. Many, like NuamahNhyira and Chrizpap, celebrated the move, while others, like MliwomorG, expressed skepticism about partnering with international institutions. Calls to revive local banks, such as GN Bank, also surfaced, reflecting a desire for localized solutions.
This partnership marks a pivotal moment for Ghana’s economic trajectory. The Growth and Jobs Strategy aligns with the World Bank’s Ghana Country Partnership Framework (FY22-26), which focuses on resilience and diversification.
For Dr. Forson, the challenge is turning this commitment into tangible results, addressing systemic barriers like financial burdens while creating opportunities for the youth. If successful, this initiative could set a model for international partnerships in driving inclusive growth, offering a brighter future for Ghana’s next generation.
Just had a productive meeting with Anna Bjerde, the World Bank MD for Operations, at the Bank’s HQ in Washington, D.C.
Pleased to share that the World Bank has agreed to support Ghana in the development and implementation of a Growth and Jobs Strategy.
This is a bold… pic.twitter.com/5q6F3PhcQw
— Cassiel Ato Forson(PhD) (@Cassielforson) April 23, 2025
