Economic expansion in Ghana expected to reach 5.7% in 2025, according to ABN Report

Ghana’s economy is expected to grow by about 5.7% ± 0.5 percentage points in 2025, outpacing the International Monetary Fund’s forecast of 4.0% real GDP growth and the World Bank’s projection of 4.3%.

According to IC Research, a top market research firm, spending on festivities in the fourth quarter of 2025 boosted household and private sector consumption, giving a lift to trade, manufacturing, transport, and information and communication technology, while crops stayed resilient.

“We, however, expect construction growth to remain normalised below the double-digit expansion posted in the final quarter of 2024, although we see prospects for recovery above the momentum in 3Q2025 [third quarter of 2025]”, it added

It continued that recovering household spending, driven by stable prices and a softer Value Added Tax (VAT) regime in 2026, will support sales revenue and gross margin, highlighting “Effective distribution networks and efficient management of stock keeping unit will retain customer base and structurally support the topline momentum. We think the main investment thesis rest on capital growth than attractive income generation capacity”.

Ghana’s overall real GDP grew by 5.5% year-on-year in the 3rd quarter of 2025, easing from 7.0% last year. However, underlying activity remained firm with non-oil growth at 6.8%.

The overall slowdown largely reflected weaker extractives and a sharp post-election contraction in government consumption, while households and agriculture continued to support growth.

Overall, key domestic sectors are holding steady, though fiscal tightening has slowed the overall pace.

Source: Accra Business News