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Fitch Solutions has delivered one of its most upbeat assessments of Ghana in recent years, projecting that the country will surge ahead of major emerging-market competitors in 2026 on the back of powerful economic fundamentals and renewed investor confidence.
Speaking at the 2026 PwC Post-Budget Forum in Accra on Wednesday, November 19, 2025, Assistant Director at Fitch Solutions, Mike Kruiniger, said Ghana’s economic momentum is not only solid but exceptional.
According to Fitch’s latest outlook, Ghana’s real GDP is expected to climb from 5.8% in 2025 to 5.9% in 2026, cementing the country’s position as one of the fastest-growing emerging markets globally.
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Kruiniger noted that the primary engines of expansion will include strong private consumption, a rebound in fixed investment following the 2023 contraction, and steady domestic demand.
“By historical and global standards, Ghana’s trajectory is impressive. The 2026 budget reinforces this momentum, and Ghana is set to outperform economies like mainland China, Indonesia, and Kenya next year,” he stated.
Beyond 2026, Fitch expects growth to remain robust, hovering around 5% in the medium term, making Ghana a standout performer among frontier and emerging economies.
However, the report carried a critical warning.
Kruiniger flagged the escalating Islamist insurgency in the Sahel as the single most dangerous threat to Ghana’s stability. While Ghana has so far avoided major spillovers thanks to stronger northern state control and less favourable terrain for militant infiltration, he stressed that the threat matrix is shifting.
“Mali-based insurgent groups are expanding their reach. If militants cross into northern Ghana, the government will be forced to raise military spending significantly, currently among the lowest in sub-Saharan Africa,” he cautioned.
Although Fitch’s base case scenario anticipates Ghana remaining largely shielded, the firm emphasised that any major security breach could affect investor confidence, fiscal planning, and overall macroeconomic stability.
Still, for now, Ghana’s economic story heading into 2026 remains one of strong resilience, renewed confidence, and projected global outperformance.
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