The Chairman of the National Development Planning Commission (NDPC), Dr Nii Moi Thompson, has proposed a major shift in Ghana’s economic measurement framework toward what he calls a “Three‑Dimensional (3D) Growth” model.
Speaking at the IYA Business Roundtable 2026 in Accra, Dr Thompson argued that Ghana’s long‑standing reliance on GDP as the primary indicator of progress is outdated, as it fails to capture job creation, wage growth and real improvements in citizens’ welfare.
Under the proposed 3D Growth model, economic performance would be assessed across three equal dimensions:
GDP Growth – measuring expansion in national output.
Employment Creation – assessing how growth generates decent, sustainable jobs.
Wage Growth – evaluating whether incomes and earnings are rising for workers.
“Growth without jobs is meaningless. Growth without rising incomes is unsustainable,” he stressed.
Why 3D Growth Matters
Dr Thompson warned that without adopting this approach, Ghana risks pursuing growth that is disconnected from the lived realities of ordinary citizens—especially the thousands of young people entering the labour market each year.
He highlighted structural weaknesses in the economy, noting that although 92% of businesses operate in the informal sector and account for 80% of employment, they contribute only 27% to GDP.
Achieving 3D Growth, he said, will require a strong focus on productivity, formalisation and value addition across all sectors.
He added that infrastructure investments must be evaluated not just by physical delivery, but by their impact on jobs, efficiency and long‑term productivity.
Institutional Weaknesses Still a Barrier
Beyond measurement, Dr Thompson pointed to persistent gaps in policy execution, warning that Ghana’s development has been undermined by poor coordination between planning and implementation.
He called for stronger alignment between national development plans and budget allocations, as well as improved accountability across public institutions.
“The country’s next phase of development must be guided by the principles of 3D Growth,” he said.
Yamson: Africa Must Stop Celebrating Potential
Also speaking at the event, Ishmael Yamson, CEO of Ishmael Yamson and Associates, urged Africa to move beyond the “Africa Rising” narrative and commit to aggressive execution and wealth retention.
“Potential without aggressive execution is simply prolonged failure,” he said, arguing that Africa’s growth model remains overly extractive.
He criticised the reliance on GDP as a measure of progress, noting that extractive activities often inflate GDP figures without retaining value on the continent.
“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 for deeper cross‑border collaboration under AfCFTA through joint ventures capable of building competitive African enterprises.
