The Chairman of the National Development Planning Commission (NDPC), 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, Dr. Thompson said Ghana’s long-standing reliance on Gross Domestic Product (GDP) as the primary indicator of progress is no longer sufficient, as it often fails to reflect job creation, income levels, and real improvements in citizens’ welfare.

He explained that under the proposed “3D Growth” model, economic performance must be assessed not only by output growth, but also by how effectively the economy generates decent jobs and improves wages.

“Growth without jobs is meaningless. Growth without rising incomes is unsustainable,” he stressed.

Dr. Thompson warned that without adopting the 3D Growth approach, economic growth risks becoming disconnected from the realities of ordinary citizens, particularly young people entering the labour market each year.

He highlighted structural weaknesses in the economy, noting that although about 92 percent of businesses operate in the informal sector and account for roughly 80 percent of employment, they contribute only about 27 percent of GDP.

Dr. Thompson emphasised that achieving the objectives of the 3D Growth agenda would require a strong focus on productivity, formalisation, and value addition across all sectors of the economy.

He further noted that infrastructure investment under the 3D Growth framework must be assessed not only by physical delivery, but by its impact on jobs, efficiency, and long-term productivity growth.

According to him, key sectors such as electricity, water systems, transport and logistics, and digital infrastructure remain essential drivers of transformation, but must be supported by strong institutions and consistent implementation.

Beyond economic measurement, he pointed to persistent gaps in policy execution, warning that Ghana’s development has been weakened by poor coordination between planning and implementation.

He called for stronger alignment between national development plans and budgetary allocations, as well as improved accountability across public institutions.

Dr. Thompson concluded that Ghana’s next phase of development must be guided by the principles of 3D Growth, where economic progress is measured not only by GDP expansion, but also by jobs created, wages improved, and living standards enhanced.

Delivering the welcome address, Chief Executive Officer of Ishmael Yamson and Associates, Mr. Ishmael Yamson, urged Africa to move beyond narratives of potential and commit to aggressive execution and wealth retention.

He said the continent had become too comfortable with the “Africa Rising” narrative, despite its vast resources and economic potential. “Potential without aggressive execution is simply prolonged failure,” he stated, adding that Africa’s current growth model remains largely extractive.

Mr. Yamson criticized the continued reliance on GDP as a primary measure of progress, arguing that it often masks structural weaknesses in African economies. “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.

He called for African businesses to deepen cross-border collaboration under the African Continental Free Trade Area (AfCFTA) through joint ventures capable of building competitive continental enterprises.

END

NDPC PR-UNIT