Nearly 30 percent of Ghana’s workforce is increasingly resorting to gambling and betting as a means of coping with daily expenses and debt, despite signs of rising incomes and easing financial pressures. This is highlighted in the latest Old Mutual Financial Wellness Monitor, which portrays a cautious recovery overshadowed by persistent financial vulnerability.
The report notes that while 37 percent of respondents now earn more than they did a year ago—up from 22 percent in 2023—many households remain exposed. Some 39 percent of workers fear losing their income, and 53 percent risk exhausting their funds within three months if they were to lose their jobs.
The findings suggest that although macroeconomic conditions and consumer confidence are improving, households continue to lack sufficient financial buffers to withstand potential economic shocks. To reduce the risk associated with income instability, more Ghanaians are now diversifying their income sources through side jobs and freelance work.
The report notes that 27 percent of working Ghanaians are now “poly-jobbers”- people earning additional income beyond their primary jobs up from 21 percent in 2024. Young people are leading this trend, with 32 percent of Ghanaians aged between 20 and 29 reporting additional income streams, largely driven by limited job opportunities and rising financial obligations.
Source: Emmanuel Oppong
