Tech booms Ghana’s GDP Growth to 6.4%

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Information & Communication sub-sector (tech) has contributed to Ghana’s GDP growth of 6.4% in the first quarter of 2026.

Data shared by Data Scientist and Policy Analyst, Afred Appiah, revealed that  Ghana reported 6.4% GDP growth for Q1 2026.

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The growth was led by the Information & Communication sub-sector (tech) with 25.2%, ahead of mining/quarrying excl. oil and trade.

The data showed household consumption and investment drove growth on the expenditure side, while exports fell and government spending expanded 7.9%.

In a post shared on X, Alfred Appiah detailed, “We have resumed regular charting. Here are some charts from yesterday’s GDP report. After adjusting for the size of sub-sectors, the technology sub-sector contributed the most to the 6.4% overall GDP growth reported, followed by mining and quarrying (excluding oil) and trade.

On the expenditure side, household consumption and investment drove GDP growth. Exports declined. Government spending expanded by 7.9%, the highest since Q2 2024”.

His post added, “Industry contributed 2.2 percentage points of the 6.4% overall growth rate. This was on the back of the recovery in the oil and gas sector. Gold’s contribution to overall GDP growth is down from 1.2 points in Q1 2025 to 0.74 points in Q1 2026”.

In related news, Dr Cassiel Ato Forson, the Finance Minister, has said Ghana is now ranked as the eighth largest economy in Africa.

The Finance Minister asserted that under the previous Akufo-Addo/Bawumia administration, the Ghana economy was rated as a junk economy.

According to Ato Forson, the fiscal policies adopted since the takeover from the Akufo-Addo/Bawumia administration have positioned the country to be able to attract investors.

Ato Forson disclosed that Ghana’s GDP per capita has reached $3,385 for the first time.

He further assured the diaspora community that the country’s debt is now sustainable and that the economic gains made will be fully sustained.

Speaking at a town hall meeting in London on Sunday, May 31, 2026, Ato Forson stated, “Our country is back. Today, Ghana is ranked the eighth-largest economy in Africa. Our GDP per capita is now $3,385 for the first time, and our debt is now sustainable, unlike in the past. The gains made will be sustained”.

He further appealed to investors and Ghanaians in the diaspora to come and invest in Ghana.

The Finance Minister stated, “Ghana is open for business. We welcome you. Come home and contribute. And so, we see you as an important partner. We see you as our brothers and sisters in the diaspora. And you still have a role to play in nation building.”

“And London is home to some of us. Some of us had the privilege of growing up here.

“And myself, Honourable Kwami Agbodza (Minister of Roads and Highways), not long ago used to be members of this chapter until we had the privilege to go back home to serve our country. And so, you can also be one of us if you decide to come home and take part in nation building.”

“I do not recall that our country had ever gone through such a level of economic crisis. The scale of the crisis was profound. It was extremely traumatic, if not distressful.” He stated.

“Our currency, the Ghana cedi, came under intense pressure. It nearly lost its value. Inflation rose to painful levels. Investor confidence deteriorated very sharply.”

“In February 2022, Moody’s downgraded Ghana to CAA1. In August, S&P also downgraded us to CCC+,” he stated.

“Again in the same year, August, Fitch also downgraded Ghana to CCC. And in September, Fitch again downgraded Ghana further down to double C. Finally, in October 2022, Ghana lost access to the international capital market.”

“But the good news is that today our country is back. We are back.” He said.

“But let me share some of the outturn with you. I’m pleased to report that as a result of the measures that President Mahama took, today GDP growth is back. Ghana has recorded a GDP growth of six per cent in the year 2025.” He said.

“And most importantly, non-oil GDP growth was 7.6 per cent, the highest in 14 years.”

See the post below:

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