A recent study has shown that only 32.2 per cent of salaried employees in Ghana are able to save part of their income, underscoring the growing financial pressure on workers across the country.
The research, carried out by Professor Smart Sarpong of Kumasi Technical University, linked the low savings rate to poor salary levels, especially in the private sector where workers were identified as the least paid.
Findings from the study revealed that 67.8 per cent of employees spend more than they earn, making it difficult for them to put money aside as savings.
The findings were contained in the National Cost of Living Outlook Report for the first quarter of 2026. The survey covered 4,155 households within 2,350 communities across eight regions and 100 constituencies nationwide.
Regions included in the study were Ashanti, Western, Western North, Central, Upper East, Northern, Bono, and Bono East.
The report further indicated that 95 per cent of workers receive monthly salaries below GH₵5,000, while over 36 per cent earn less than GH₵1,000 every month.
According to the report, public sector workers generally receive higher salaries than employees in the private sector. Only 6.6 per cent of public sector employees earn below GH₵1,000 monthly, compared to 15.8 per cent of workers in the private sector.
In addition, 58 per cent of private sector workers earn less than GH₵2,000, whereas the figure stands at 19.7 per cent among public sector employees.
At the higher salary range, only 18.1 per cent of private sector workers earn above GH₵4,000, while approximately 55 per cent of public sector workers receive salaries within that bracket.
Rising Cost of Living
The report also highlighted increasing concerns over the rising cost of living in Ghana.
By the end of the first quarter of 2026, only 14.4 per cent of respondents described the cost of living as low, a significant drop from the 68.8 per cent recorded in 2025.
Meanwhile, 42.8 per cent of those surveyed said they had not observed any major difference in living costs compared to the previous year. However, the number of people who believe the cost of living is high increased by three per cent.
Electricity, public transportation, mobile call credit, and internet services were identified as some of the major expenses affecting households across the country.