Ghana’s economy to rise to 3-year high of 5.5% – Fitch Solutions

Fitch Solutions forecasts Ghana's economic growth to rise to 5.5% in 2024, up from 2.9% in 2023.

Strong growth in quarter 2, 2024 (6.9% year-on-year) was driven by increased industrial output, mining, and construction. Private consumption rose by 8.5%, and exports by 12.6%.

Growth is expected to moderate in the second half of 2024 due to slowing export growth and a high base for private consumption.

However, consumer spending remains strong, with mobile money transactions up 21.1% and payment card issuances rising by 42.5% in June 2024.

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