The Chairman of the National Development Planning Commission, Dr. Nii Moi Thompson, has proposed a shift in Ghana’s economic measurement framework toward a “3D Growth” model that places equal emphasis on GDP growth, employment creation, and wage growth.
Speaking at the IYA Business Roundtable 2026 in Accra on Thursday, Dr. Thompson argued that Ghana’s long-standing reliance on Gross Domestic Product as the primary indicator of progress no longer reflects the realities of citizens, particularly the disconnect between output growth and improvements in jobs and incomes.
“Growth without jobs is meaningless. Growth without rising incomes is unsustainable,” he stressed.
Dr. Thompson said under the proposed “3D Growth” model, economic performance must be assessed not only by increases in output, but also by the economy’s ability to generate decent jobs and raise wages.
He warned that without this shift, economic growth risks becoming abstract and disconnected from the lived experiences of ordinary Ghanaians, especially young people entering the labour market each year.
He highlighted structural weaknesses that limit the impact of growth. About 92 percent of businesses in Ghana operate in the informal sector and account for roughly 80 percent of employment, yet they contribute only about 27 percent of GDP.
This imbalance, he said, points to low productivity, limited formalisation, and weak value addition across the economy.
“To achieve the objectives of 3D Growth, we must focus on productivity, formalisation, and moving up the value chain in all sectors,” he explained.
Dr. Thompson also called for a change in how infrastructure investment is evaluated. Under the 3D Growth framework, he said, projects should be assessed not only by physical delivery but by their impact on job creation, operational efficiency, and long-term productivity.
He identified electricity, water systems, transport and logistics, and digital infrastructure as critical drivers of transformation.
However, he stressed that these sectors require strong institutions and consistent implementation to deliver results.
Beyond measurement, he pointed to persistent gaps in policy execution as a key constraint on development. He noted that poor coordination between national planning and budget implementation has weakened Ghana’s development outcomes over the years.
“Ghana’s next phase of development must be guided by stronger alignment between national development plans and budgetary allocations, and by improved accountability across public institutions,” he said.
Delivering the welcome address, Chief Executive Officer of Ishmael Yamson and Associates, Mr. Ishmael Yamson, urged African economies to move beyond the “Africa Rising” narrative and focus on execution and wealth retention.
“Potential without aggressive execution is simply prolonged failure,” he stated. He criticized the continent’s continued reliance on GDP as a primary measure of progress, arguing that it often masks structural weaknesses.
“When foreign conglomerates extract lithium from our soil and repatriate the profits offshore, our GDP rises and we celebrate, yet little value remains within our economies,” he said.
Mr. Yamson called on African businesses to deepen cross-border collaboration under the African Continental Free Trade Area through joint ventures that can build competitive continental enterprises and retain more value on the continent.
Dr. Thompson concluded that Ghana’s development agenda must now be guided by the principles of 3D Growth, where economic progress is measured not just by GDP expansion, but by jobs created, wages improved, and living standards enhanced for citizens.
