We expect growth rate to re-accelerate in second-half of 2026 – IC Insights
According to IC Securities, it remains confident about continued recovery in oil & gas output into the second-half of 2026 as Tullow Oil PLC’s management guidance indicates that new wells came on stream in July and August 2026, with initial production rates being in line with expectations.
Ghana's Gross Domestic Product (GDP) is projected to accelerate in the second half of 2026, after slowing to 6.0% year-on-year in the most recent quarter. This growth slowdown was driven by softer non-oil activity and a moderation in key sectors such as agriculture, gold mining, and public services. IC Securities remains optimistic about the continued recovery in oil and gas production, as new wells began operating in July and August 2026, with initial production rates meeting expectations.
The services sector, primarily led by ICT, is expected to remain the primary growth engine for the economy. Additionally, the transport and storage, financial and insurance sectors, as well as trade activities, are anticipated to provide further support. A boost in economic activity is expected in the fourth quarter of 2026 due to the resumption of holiday-related spending.
Retail and wholesale trade are expected to contribute significantly to this growth. IC Insights maintains its 2026 full-year real GDP growth forecast at 6.4% ± 0.5 percentage points.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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