Ghana's economy grows 6.4% in Q1 2026 as private sector credit surges 41%

Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, says Ghana’s economy recorded stronger growth in the first quarter of 2026, supported by increased activity in the services and industrial sectors, stronger lending to businesses, rising trade, higher industrial production and a recovery in tourism.

Speaking at a stakeholder engagement with the business community in Sunyani, Dr Asiama said the economy expanded by 6.4 percent in the first three months of the year, up from 6.2 percent during the same period in 2025.

“I am also pleased to report that Ghana’s economy continues to grow. In the first three months of this year, the economy grew by 6.4 per cent, compared with 6.2 per cent during the same period last year.”

The Governor said confidence among businesses and consumers is improving, with lending rates declining to make credit more accessible for investment.

He added that the banking sector remains resilient, with banks well-capitalised, deposits continuing to grow, and the quality of loans improving.

Dr Asiama further disclosed that credit to the private sector has risen sharply over the past year, reflecting increased financing for businesses and households.