Ghana’s economy is projected to expand by 4.8 percent in 2026, with growth expected to edge up to 4.9 percent in 2027, as services, oil and gas production and ongoing economic reforms continue to support activity.
The World Bank maintained its 2026 growth projection for Ghana in its October 2026 Africa Economic Update, despite a slight moderation in economic activity during the second quarter.
The Bank said real Gross Domestic Product (GDP) grew by 6.0 percent year-on-year in the second quarter of 2026, compared with 6.6 percent over the same period in 2025.
It said the expansion reflected strong domestic demand, with investment increasing by 53.0 percent while overall domestic demand rose by 11.2 percent.
“Economic activity remained robust in the second quarter of 2026, although growth moderated slightly,” the World Bank said.
Services drive expansion
The services sector continued to provide the strongest contribution to economic growth, expanding by 8.0 percent and accounting for almost three-fifths of total GDP growth.
ICT was among the strongest-performing areas of the economy, recording growth of 30.9 percent, according to the report.
The industrial sector also recorded an improvement, growing by 4.3 percent, compared with 2.4 percent a year earlier. The World Bank attributed the acceleration largely to a sharp increase in oil and gas production.
The recovery in hydrocarbons is expected to remain an important source of support for Ghana’s overall economic performance in the near term.
Agriculture, however, recorded weaker growth. The sector expanded by 3.9 percent, down from 7.1 percent in the corresponding period of 2025, mainly due to a significant decline in fishing activity.
The Bank therefore observed that Ghana’s current growth momentum remains concentrated in services, ICT and hydrocarbons, while some segments of the non-oil economy continue to experience weaker activity.
Regional outlook
The World Bank expects economic growth in West and Central Africa to remain at 4.5 percent in 2026, the same rate recorded in 2025, before improving to an average of 4.7 percent in 2027–28.
Nigeria’s performance is expected to remain a major influence on the subregion’s outlook.
Excluding Nigeria, growth is projected to slow from 5.4 percent in 2025 to 5.0 percent in 2026, before recovering to an average of 5.3 percent in 2027–28.
For Sub-Saharan Africa as a whole, the World Bank projects growth of 4.3 percent in 2026.
It cautioned, however, that the projected expansion would have a limited poverty-reduction impact, highlighting the need for stronger and more inclusive growth across the region.
Source: businesspostonline
