World Bank affirms Ghana’s growth rate at 4.8% in 2026

The World Bank has confirmed Ghana's projected growth rate of 4.8% for 2026, with an upward revision to 4.9% for the following year, according to its October 2026 Africa Economic Update. This growth is primarily driven by the services sector, a resurgence in oil and gas activities, and continued progress under national programs focused on structural and fiscal reforms.

In the second quarter of 2026, Ghana's economy showed robust activity, with real GDP expanding by 6.0% year-on-year, a slight decrease from 6.6% in the same period in 2025. Growth was bolstered by robust domestic demand, with investment rising by 53.0% and domestic demand increasing by 11.2%. The services sector, particularly ICT, led the growth, expanding by 8.0%, which contributed to nearly three-fifths of the overall GDP growth.

Industrial growth also picked up to 4.3% from 2.4% the previous year, driven by a significant increase in oil and gas production. However, agricultural growth decelerated to 3.9% from 7.1% a year earlier, largely due to a sharp decline in fishing activity. The World Bank projects that economic growth in the West and Central Africa (AFW) subregion will remain steady at 4.5% in 2026, before modestly increasing to an annual average of 4.7% in 2027-28.

The performance of the subregion is heavily influenced by developments in Nigeria, the largest economy in the region. Excluding Nigeria, subregional growth is expected to moderate from 5.4% in 2025 to 5.0% in 2026, before recovering to an average of 5.3% over 2027-28. Growth in Sub-Saharan Africa is also anticipated to rise to 4.3% in 2026, though its poverty-reducing impact is expected to remain limited.