Mental health neglect costs Ghana 7% of GDP

Business and Financial Times

Fri 01st Nov, 2024 03:30

… 5^th EAP Africa Summit calls for urgent action

With mental health emerging as a pressing global economic issue, Ghana is estimated to lose 7% of its GDP annually due to psychological distress, reflecting a broader global trend.

The worldwide cost of productivity losses linked to depression and anxiety is estimated at a staggering USD $1 trillion – This is a revelation made by the British High Commissioner to Ghana, Keith McMahon (MBE)

In the UK alone, employers bear the brunt of this crisis, with poor mental health costing businesses approximately USD $45 billion each year. These figures underline the urgent need for organizations to prioritize mental health as a cornerstone of sustainable growth.

Despite the lack of direct statistics on the impact of mental health on Ghana’s economy, the experiences of advanced economies like the UK serve as a stark reminder for businesses across the country.

The need to invest in employee mental health is not just a matter of corporate responsibility but a strategic imperative for long-term success.

CEO of Supreme Healthcare Management Services and Subsidiary EAP- Africa, Patience Osekere, delivering a welcome address at the summit

This growing awareness brought together top executives and CEOs at the 5th Employee Assistance Programme (EAP) Africa Summit on October 16, 2024, at the Accra Marriott Hotel.

The summit, themed “Mental Capital: Enhancing Socio-Economic Growth and Development Through Cutting Edge Mental Health and Wellbeing Initiatives,” provided a platform for business leaders to explore the intersection between mental wellbeing, organizational excellence, and socio-economic development.

The event highlighted the significance of mental health in building resilient organizations and economies.

Patience Osekere, CEO of Supreme Healthcare Management Services and Subsidiary EAP- Africa, emphasized the need for businesses to prioritize mental health, stating that mental capital—comprising psychological resources, resilience, creativity, and emotional intelligence—forms the backbone of a thriving economy.

She said: “The challenges we have faced in recent years—whether due to COVID-19 or other factors—have brought mental health to the forefront, and it is now more evident than ever that mental capital, which includes our collective psychological resources, resilience, creativity, and emotional intelligence, forms the very foundation of sustainable growth and a strong economy.”

In a keynote address delivered by Dr. Joana Ansong, Team Lead for Non-Communicable Diseases and Mental Health at the World Health Organization (WHO), on behalf of Dr. Frank Lule, Officer-In-Charge of WHO Ghana, the summit’s central message was clearly conveyed: mental health is no longer an afterthought but a strategic priority for businesses and organizations.

Dr. Ansong highlighted the profound impact of addressing mental health in the workplace, noting that it significantly boosts productivity and employee loyalty.

Her remarks underscored the critical need for organizations to invest in mental health and wellbeing initiatives.

British High Commissioner to Ghana, Keith McMahon (MBE) delivering a remark at the summit

Panel Discussion

The summit’s also introduced an open panel discussion with expert delving deeper into what strategies organisations can employ to integrate mental health programs into their operations to foster a healthy and productive workforce.

As mental health increasingly becomes a cornerstone of effective leadership and organizational growth, the EAP Africa Summit stands out as a pivotal platform driving this transformation across industries in Africa.

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