Nearly 30% of Ghanaians turn to betting as financial pressure persists – Report
Nearly 30% of working Ghanaians are increasingly relying on gambling and betting as a way to manage daily living costs and settle debts, even though there are signs of gradual improvement in incomes and reduced economic strain.
This is according to the latest Old Mutual Financial Wellness Monitor, which highlights a mixed situation of economic recovery alongside continued financial vulnerability among workers in Ghana.
The report shows that while 37% of respondents say their earnings have increased compared to a year ago, up from 22% in 2023, many households are still under financial pressure.
It further indicates that 39% of Ghanaians remain anxious about potentially losing their income, while more than half (53%) say they could run out of money within three months if they lost their jobs or income sources.
These findings suggest that although overall economic conditions and consumer confidence are improving, a large number of households still lack sufficient savings or financial safety nets to handle unexpected shocks.
In response to income instability, more people are now seeking additional sources of income through side jobs and freelance work.
The report notes that 27% of working Ghanaians are now “poly-jobbers,” meaning they earn income from more than one job—an increase from 21% in 2024.
Young adults are driving this trend, with 32% of people aged 20 to 29 reporting extra income streams, largely due to limited job opportunities and rising cost pressures.
Source: Citi Newsroom
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