Green Recovery and Green Jobs in Africa: The Case of Ghana
The Ghanaian economy experienced a positive growth trajectory over the past decade; however, the economic structure has not changed as the country continues to depend on natural resource extraction (gold and oil). This has had a significant negative environmental impact on Ghana. The COVID-19 pandemic has eroded the country’s economic gains. In spite of the government’s response to mitigate its negative socio-economic impact, the path to recovery is likely to be slow and long as the government expects to regain fiscal stability in 2024. The pandemic has also created significant job losses in both the formal and informal sector, where many Ghanaians are employed. The immediate recovery measures have largely created safety nets, providing financial support to vulnerable small and medium-sized enterprises (SMEs), subsidising electricity costs and providing free water, thereby ameliorating the impact of the pandemic on individuals, households and businesses. The government of Ghana has a good opportunity to implement a green recovery through its medium- and long-term economic revitalisation programme. Using the fiscal space created through debt reliefs and concessionary loans, it could invest in green programmes to foster green jobs.