Ghana’s GDP growth is projected at 5.4% in 2025, driven mainly by the mining sector, especially gold production. Despite a strong recovery in 2024, other sectors still face challenges. Addressing structural weaknesses is essential for sustaining economic growth.
Ghana’s economy is anticipated to sustain its growth trajectory into 2025, with the Gross Domestic Product (GDP) projected to increase by 5.4% annually. This forecast, provided by Jibran Qureishi, Head of Africa Research at Standard Bank Group, emphasizes the ongoing recovery in Ghana’s economic performance.
During the Stanbic Economic Series webinar entitled “The Economy under a New Era,” Mr. Qureishi highlighted the primary growth drivers and structural risks that could affect Ghana’s economic landscape. He noted that a significant recovery in 2024, with GDP growth reaching 5.8%, sets a robust foundation for further expansion in the following years.
Mr. Qureishi attributed this economic resurgence notably to the mining sector, with gold production leading the advancement. He remarked, “There has been a notable pickup in mining activities across the country, with gold leading the charge.” He also mentioned the revitalization of underperforming mines and the expected establishment of a lithium facility by 2026/2027, which would enhance economic output in the future.
Despite the positive developments in mining, other sectors such as manufacturing and real estate continue to encounter significant challenges. Mr. Qureishi observed, “While mining is flourishing, sectors such as manufacturing and real estate continue to face persistent headwinds.” Furthermore, he pointed out that agricultural productivity suffered due to last year’s drought in Northern Ghana, affecting growth in that sector.
While optimistic about the future, Mr. Qureishi underlined the necessity of addressing structural vulnerabilities to foster sustained growth. “The revival of key mining operations and the potential for stronger-than-expected growth in 2026 highlight the resilience of Ghana’s economy,” he stated, cautioning that challenges like energy sector arrears and fiscal imbalances must be resolved for stability in growth.
In summary, Ghana’s GDP is projected to grow by 5.4% in 2025, buoyed by a strong mining sector, particularly gold production. While there are promising signs of economic recovery, challenges in non-mining sectors such as manufacturing and real estate persist. To ensure sustained growth, it is crucial to tackle structural weaknesses within the economy.
Original Source: africa.businessinsider.com
