Ghana's business sector has grown rapidly over the past decade, but the vast majority of businesses still operate informally. That is one of the key findings of the Ghana Statistical Service's (GSS) first edition of Ghana in Numbers 2025, launched in Accra, according to a report by Citi Newsroom.
Government Statistician Dr Alhassan Iddrisu said Ghana had 2.64 million businesses in 2024, Citi Newsroom reports. Only 7.7% of them were formal, meaning more than 90% operate outside the formal sector.
Micro enterprises make up about nine in every ten businesses in the country.
"Establishments nearly tripled between 2014 and 2024, while the people working in them doubled," Dr Iddrisu said.
The report shows unemployment falling from 14.6% in 2023 to 12.8% in 2025, according to Citi Newsroom. However, more than 70% of jobs remain informal.
Ghana's first survey of informal cross-border trade recorded GH¢38.4 billion worth of goods traded informally with Togo, Burkina Faso and Côte d'Ivoire. That is 1.4 times the trade flows previously recorded with those three countries, the report says, suggesting that a large share of regional trade has not been captured in official statistics.
Overall, Ghana recorded a goods trade surplus of GH¢148.3 billion in 2025, with exports exceeding imports.
Ghana in Numbers 2025 covers population, social development, governance, the environment, business, trade and the Sustainable Development Goals. It comes with a web portal offering district-level data, interactive maps and downloadable statistics.
Dr Iddrisu urged policymakers, businesses and the public to use the data. "A statistic changes nothing until someone acts on it," he said, according to Citi Newsroom.
Informal businesses are typically unregistered or operate without formal accounting, tax registration or social security contributions. They include market traders, roadside food sellers, artisans, small shops and many home-based businesses.
The informal sector is a lifeline for millions of Ghanaians, offering jobs and income where formal employment is scarce. But informality also brings challenges. Informal businesses often struggle to access bank loans, government contracts and insurance, and workers usually lack pensions, health cover and job security.
For the government, a large informal economy means a narrow tax base, which limits revenue for public services and infrastructure.
The figures are also relevant to Ghana's entertainment and creative industries, where many musicians, actors, designers, content creators and event organisers work informally. Industry groups have long argued that better data, registration and access to finance would help creative businesses grow.
The fall in unemployment from 14.6% to 12.8% over two years is a welcome sign for job seekers, especially young people, who have been hit hardest by the shortage of formal work. But with most jobs still informal, the quality and security of employment remain key concerns.
Successive governments have tried to encourage formalisation through business registration drives, digital tax systems and support for small enterprises. The challenge is to bring more businesses into the formal system without making it harder or more expensive for them to operate.
The new GSS data, especially the district-level portal, could help target such programmes more precisely, showing where informal businesses are concentrated and which sectors and districts might benefit most from support.
Analysts and policymakers are expected to draw on the report in upcoming budget and policy discussions. The informal cross-border trade figures in particular may feed into debates on regional trade under the African Continental Free Trade Area, which is headquartered in Accra.
