Ghana ranks low as economic transformer with a score of 19.1% – African Transformation Index

The African Transformation Index (ATI) ranks Ghana as a low economic transformer, scoring only 19.1 out of 100, reflecting weak and unstable progress over the past two decades, according to the Africa Center for Economic Transformation (ACET).

Since 2000, Ghana’s performance has consistently trailed the African average, peaking at 20.6 in 2014.

ACET stresses that diversification of production and exports is critical for genuine economic transformation. Despite a shift from subsistence agriculture to services, Ghana's economy remains insufficiently diversified.

Agriculture, primarily driven by cocoa, still contributes nearly one-fifth of GDP, while the industrial sector accounts for about 29%.

Although exports have grown from $2.37 billion in 2000 to $20 billion in 2022, reliance on the top five products has increased from 70% to 89% by 2020, indicating limited global integration and export sophistication.