Innovative financing key to sustaining Ghana’s data ecosystem – Nyarko Ampem

Deputy Finance Minister, Thomas Nyarko Ampem is pushing for the adoption of innovative and sustainable financing mechanisms in Ghana to strengthen its national data ecosystem and drive inclusive development.

Delivering the keynote address at the 2025 Annual Forum for Data Producers, Users and Enhancers, he stressed that a resilient statistical system is essential for effective governance, economic transformation and social progress.

He cautioned that in an era of global economic volatility, climate pressures, demographic change and rising public demand for accountability, countries without credible data systems face the risk of poor planning, inefficient resource allocation and widening inequalities.

“In such an environment, credible data is not optional. It is indispensable. It is the foundation on which resilient nations are built,” he said.

Thomas Nyarko Ampem underscored the economic value of high-quality data, noting that it exposes disparities, enhances transparency and strengthens governance. Citing World Bank research, he said every dollar invested in data yields up to $32 in economic returns through better policy targeting, improved public-sector efficiency and heightened investor confidence.

He acknowledged Ghana’s major strides in modernising its statistical system — including West Africa’s first fully digital Population and Housing Census, the rollout of high-frequency surveys, expanded enterprise and agricultural data, and the integration of geospatial and data-science methods. Public access to official statistics has also improved through tools such as StatsBank and the Ghana Stats App.

Despite this progress, the Deputy Minister said the national statistical ecosystem continues to face structural constraints, particularly heavy dependence on donor funding, fragmented administrative databases across MDAs, and limited interoperability.

To address these bottlenecks, he pointed to the upcoming National Strategy for the Development of Statistics III (2026–2030) and the Power of Data Initiative, which together are expected to provide a coordinated framework for long-term investment, innovation and capacity building across the national statistical system.

Reaffirming the government’s commitment to reducing donor reliance and strengthening domestic financing, he revealed that the 2026 Budget allocates GH¢207 million to priority statistical operations, including GDP and CPI rebasing, completion of major national surveys, and improvements in economic and price-measurement systems.

Mr. Nyarko Ampem called on development partners to continue their support under stronger coordination and closer alignment with Ghana’s priorities. He urged data producers to deepen innovation and collaboration, and challenged data users — including policymakers, researchers and journalists — to “demand more data, use more data, and champion transparency and accountability.”

He also encouraged the private sector to tap into emerging opportunities in the data economy, highlighting promising areas such as fintech, precision agriculture, satellite analytics and credit-scoring technologies.

He further reminded citizens that data directly shapes everyday life urging the public to support efforts to build a data-responsive society.

“It determines the schools your children attend, the hospitals you access, the jobs created in your communities, and the taxes collected,” he added.