Former Trade and Industry Minister Alan Kwadwo Kyerematen delivered a speech at the British Council on the topic “Transformation of the Ghanaian Economy: From Stability to Prosperity,” urging the government to reduce its size and redirect public funds toward productive economic activity.
He argued that the current structure of ministries, departments and agencies consumes resources that could otherwise support businesses and create jobs. Kyerematen called for a consolidation of government bodies, a reduction in the number of public sector employees, and a limit on government expenditure for development purposes.
In addition to structural reforms, he proposed “golden handshakes” for certain public servants to incentivise them to leave the civil service and start their own enterprises. He added that an aggressive approach to privatisation of state‑owned enterprises would open more space for private‑sector participation.
Kyerematen warned that Ghana cannot achieve economic transformation while a large proportion of public resources continues to be spent on maintaining the public sector. He said the government must deploy public servants more effectively and provide appropriate incentives for entrepreneurship.
Observers note that the former minister’s proposals come amid growing calls for fiscal discipline and a more business‑friendly environment in Ghana. The government’s next steps on these recommendations will be closely watched by investors and policymakers alike.
