Ghana ranks 18th among 25 African countries in revenue study

Ghana placed 18th out of 25 Sub-Saharan African countries in a study that compared how much governments collected in revenue and grants with the size of their economies in 2022.

The Institute for Fiscal Studies (IFS) found that Ghana collected GH¢15.70 for every GH¢100 the economy produced.

The average for the 25 countries was GH¢20.10.

“While the average total revenue and grants-to-GDP ratio of a sample of 25 Sub-Saharan African countries stands at 20.1%, Ghana’s total revenue and grants-to-GDP ratio stands at only 15.7%, ranking as low as 18th out of the 25 countries, and falling short of the average by 4.4 percentage points,” it stated.

Ghana’s figure was 15.7% of its economy, compared with the group average of 20.1%. Namibia recorded 31.3%, while Botswana recorded 29.5%.

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The government collected GH¢96.65 billion in revenue and grants in 2022. The IFS said Ghana could have collected GH¢123.48 billion if it had matched the group average.

That would have meant an extra GH¢26.83 billion in revenue and grants that year.

By 2025, the amount Ghana collected had risen to GH¢224.88 billion. Even with that increase, the amount still made up 15.7% of the economy, the same share as in 2022.

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The IFS said the figures show that Ghana could raise more revenue given the size of its economy.

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