ACCRA, Ghana – Ghana’s economy has crossed the US$100 billion mark, with authorities projecting continued growth that could lift output to US$140 billion by 2026, according to Business Insider Africa.
Finance Minister Cassiel Ato Forson described the milestone as evidence of a strengthening macroeconomic recovery, noting that recent improvements have been recorded across major sectors of the economy.
In remarks shared via social media, Forson said the government inherited an economy valued at below US$80 billion but had since overseen a rebound that pushed nominal gross domestic product (GDP) beyond US$100 billion.
“The size of Ghana’s economy is projected to reach 140 billion United States dollars, positioning Ghana among the largest economies on the continent,” Forson said, as reported by Business Insider Africa.
He added that sustained growth could see Ghana emerge as Africa’s seventh-largest economy if projections hold.
Private sector urged to align with recovery
Forson called on businesses to reflect improving macroeconomic conditions in pricing decisions, arguing that stabilising economic fundamentals should translate into lower costs for consumers.
“The private sector can leverage on this expansion to support the country’s economic transformation agenda,” he said, emphasising that easing inflationary pressures and improving stability should benefit both producers and households.
Government officials say the administration of John Mahama remains focused on consolidating the recovery, prioritising job creation, investment attraction and long-term structural transformation.
Diversified growth drivers
Ghana’s economy is regarded as one of West Africa’s more diversified, with gold, cocoa and hydrocarbons forming key pillars of output and export earnings.
The country’s gold sector continues to anchor foreign exchange inflows, while cocoa remains central to agricultural exports. Meanwhile, oil and gas production has increasingly contributed to GDP growth and fiscal revenues, helping cushion the economy against commodity price volatility.
Analysts note that Ghana’s energy sector has played a stabilising role, supporting industrial activity and easing pressure on the balance of payments.
Infrastructure and investment momentum
Public investment in infrastructure has also underpinned economic activity. Ongoing upgrades to transport networks, port facilities and energy systems have improved logistics efficiency and reduced operational constraints for businesses.
Economists say such investments have enhanced productivity and strengthened Ghana’s attractiveness to regional and international investors.
Regional implications
If Ghana’s GDP expansion targets are realised, the country’s economic ranking within Africa could improve significantly, reinforcing its position as a key West African growth hub.
The projections reflect a broader narrative of economic stabilisation across parts of the continent, as governments pursue reforms aimed at restoring investor confidence, strengthening currencies and driving sustainable growth.
