The Africa Centre for Entrepreneurship and Youth Employment (ACEYE), in partnership with Atlas Network, has launched a new report assessing the performance of government institutions in fostering economic prosperity.
The report, titled IGIPTEG, was developed using an adapted version of the Economic Freedom of the World Index to reflect both local and global contexts.
It examines key factors such as service delivery quality, money management transparency and accountability, workforce efficiency, and public engagement across a selection of government institutions.
The launch event, themed “Governance, Policy, and Prosperity: A Performance-Based Approach to Government Institutions”, focused on whether the government is promoting economic freedom through the rule of law, public safety, and anti-corruption efforts.
According to the report, the Ministry of the Interior emerged as the top-performing institution, followed by the Bank of Ghana, out of 50 selected government bodies.
The Chief Executive Officer of ACEYE, Emmanuel Acquah, in the opening remarks, stressed the importance of institutional reforms in achieving true economic freedom.
He pointed out that nations with transparent, accountable, and market-driven institutions tend to thrive, while those plagued by corruption and bureaucratic inefficiencies stagnate. “Countries that have built transparent, accountable, and market-driven institutions have flourished, while those plagued by excessive state control, corruption, and bureaucratic inefficiencies remain stagnant. For Ghana to revitalise its economy, break free from the debt dependency, and combat systemic corruption, we must set our focus towards institutional reforms that facilitate rather than obstruct economic activity,” Acquah said.
Joyce Lee, a guest speaker and Institute Relations Associate at Atlas Network, underscored the importance of local context in economic development.
“Essentially, the question is, why do some nations succeed while others fail? And this is because economic development cannot be imported. Economists have discovered that this is because simply transferring wealth and knowledge to people in an impoverished nation is simply not enough. Economic development is an evolutionary process based on local context. It cannot be imported,” she explained.
The report also offered several recommendations for improving the performance of government institutions.
Among the key suggestions were the implementation of digital tracking for public funds, the publication of quarterly expenditure reports, the regular updating of institutional websites to ensure access to the latest information, and the establishment of more robust feedback mechanisms to enhance service delivery.
Report by Nana Kwesi Boakye for Asaase News
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