The African Development Bank (AfDB) is projecting a 5.0% growth rate for Ghana in 2026 and 5.4% in 2027.

This is compared with an estimated 5.8% growth in Gross Domestic Product (GDP) in 2025.

According to its African Economic Outlook 2026, the medium-term outlook remains positive, though subject to risks. 

“Growth is projected at 5.0% in 2026 and 5.4% in 2027, supported by improved confidence, prudent macroeconomic management, and continued strength in services and consumption”, it said.

The report added that Ghana faces an estimated investment financing gap of about 9% of GDP. 

“High public debt, low domestic revenue, and tighter global financial conditions have constrained access to long-term, affordable capital. Addressing these challenges requires diversifying the economy, deepening policy, regulatory, and institutional reforms, and integrating domestic and international financial systems to mobilize resources on scale”, it explained.

Stable Macroeconomic Environment

The report continued that a stable macroeconomic environment with sustainable debt, transparent institutions, and efficient financial intermediation is critical to attract domestic and foreign

capital to priority development objectives. “Key enablers include stronger alignment of fiscal and monetary policies, enhanced regulatory and supervisory capacity, reliable financial infrastructure, accurate data systems, and transparent public financial management anchored in accountability”.

It added that policy coherence is essential to crowd in private investment and leverage concessional financing strategically.

To mobilise development financing at scale, the report urged Ghana to strengthen domestic resource mobilisation by broadening the tax base, improving revenue administration, and deepening local currency capital markets to reduce reliance on external borrowing. “Catalytic and concessional financing should be deployed effectively through public–private partnerships and structured blended finance instruments to de-risk investment in infrastructure, health, education, and the energy transition”.

These measures, it believe, can crowd in private capital, enhance resilience, and support sustained, inclusive growth.

Growth in Africa

Meanwhile, AfDB says growth in West Africa is projected to stabilise at 4.7% in 2026 and at 4.5% in

2027, compared with an estimated 4.8% in 2025.

It explained that projected growth in the region will be broad- based, with 10 of the region’s 15 countries expected to grow by 5 percent or higher in 2026, ranking among the fastest-growing economies in Africa.