Ghana's economic recovery restoring investor confidence – BoG Governor

Ghana’s recent macroeconomic recovery is helping restore investor confidence and create a more stable environment for businesses, Bank of Ghana Governor Dr Johnson Pandit Asiama has said.

Speaking at the launch of the Ghana Investment Promotion Authority (GIPA) Annual Investment Report on Friday August 21, 2026, which reviews investment performance in 2025, Dr Asiama said the country had made significant progress after years of economic difficulties characterised by high inflation, exchange rate pressures, tight financing conditions and declining investor confidence.

He said the progress recorded in 2025 represented more than a recovery, describing it as a process of restoring stability, rebuilding confidence and laying the foundation for sustainable and inclusive economic growth.

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At the height of Ghana’s recent economic difficulties, headline inflation rose above 54%. However, the Governor said inflation had declined sharply to 4.6% as of July 2026, supported by disciplined monetary policy, fiscal consolidation and structural reforms under Ghana’s IMF-supported programme.

“This achievement was not accidental; it was the result of coordinated policy actions, institutional commitment, and the resilience of the Ghanaian economy,” Dr Asiama said.

He added that the cedi had recorded a significant recovery against major international currencies, while Ghana’s external reserves had also strengthened.

According to him, economic activity had gained momentum across various sectors, with growth becoming increasingly broad-based on the back of improvements in services and agriculture, alongside a gradual recovery in industry.

Dr Asiama said these developments were helping create a more stable and predictable environment for businesses and investors.

He said the GIPA report provided evidence of renewed confidence in Ghana’s economic prospects, noting that investment generally follows confidence.

“Investors seek environments where policies are credible, where institutions are dependable, and economic conditions are predictable,” he said.

The report recorded new investments valued at approximately US$2.61 billion across 253 projects in 2025, which the Governor described as a strong indication that investors continued to recognise opportunities in Ghana.

He said existing investors were also expanding their operations and reinvesting in the economy, with growing interest in manufacturing, agribusiness, logistics and technology-enabled services.

Dr Asiama said Ghana’s ambition should be to move from an economy largely dependent on raw material exports towards one that creates greater value through industrialisation, innovation and competitiveness.

He, however, cautioned that the country must remain focused on addressing infrastructure gaps, reducing the cost of capital, improving productivity and strengthening the competitiveness of local enterprises.

“The task before us is to translate investment commitments into tangible outcomes: new industries, modern technologies, productive infrastructure, increased exports and sustainable jobs,” he said.

He stressed that Ghana’s success should ultimately be measured not by the value of investments announced, but by their impact on productivity, employment, incomes and the living standards of Ghanaians.

MA