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May 15, 2026
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Working Ghanaians show signs of financial recovery, but long-term vulnerability persists – Old Mutual Financial Wellness Monitor
Money
Policy
Opportunity
Growth
Key Points
- Working Ghanaians are showing increased optimism, improved financial discipline, and reduced stress levels, supported by a stabilising macroeconomic environment.
- Confidence in Ghana's economy has more than doubled (22% to 48%), with personal financial outlook also positive, and financial stress levels halved to a three-year low.
- Despite income growth (37% report higher income), significant financial vulnerability remains, with many fearing income loss and engaging in 'poly-jobbing' to diversify income.
- Savings behaviour is strengthening, with 24% of income saved, but savings are largely short-term, informal, and focused on immediate stability rather than long-term wealth creation.
- Retirement preparedness is low, with only one in three actively saving for retirement, and confidence in investment decisions declining due to limited access to advice and low risk appetite.
Why This Matters
This report is crucial for Ghana as it highlights a critical juncture where economic recovery is fostering optimism but underlying financial fragility remains. Understanding these trends can inform government policies on financial literacy, formal financial inclusion, and social safety nets, while also guiding financial institutions in developing products that address long-term savings and retirement planning for a more resilient Ghanaian populace.
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