BoG First Deputy Governor Flags Innovation Deficit Behind Ghana's Unbalanced Growth

First Deputy Governor Opoku-Afari has stated that Ghana's output expansion has been largely driven by labour and capital inputs rather than innovation, identifying a structural productivity gap. Separately, Opoku-Afari's analysis of Ghana's Eurobond borrowings between 2007 and 2021 found that US$15.59 billion was raised, with spending predominantly directed at budget financing rather than productive investment. The findings contextualise the macroeconomic environment shaping investor confidence and the operating conditions for Ghana's tech ecosystem.