Nearly 30 percent of working Ghanaians are increasingly turning to gambling and betting as a coping mechanism to cover daily expenses and debt obligations, despite signs of improving income levels and easing financial pressures in the economy.
This is according to the latest Old Mutual Financial Wellness Monitor, which paints a mixed picture of cautious recovery and lingering financial vulnerability among working Ghanaians.
The report reveals that although 37 percent of respondents say they are earning more than they did a year ago, an improvement from 22 percent in 2023, many households remain financially exposed.
According to the study, 39 percent of Ghanaians remain worried about losing their income, while more than half; 53 percent risk running out of funds in less than three months should they lose their jobs or income streams.
The findings suggest that although macroeconomic conditions and consumer confidence are improving, many households still lack adequate financial buffers to withstand 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.
