Business

World Bank data indicates Ghana’s economy is on positive route – Mahama

President John Dramani Mahama has stated that World Bank data indicates Ghana’s economy has demonstrated remarkable resilience, citing a projected GDP growth rate of 4.2% for 2025.

He made these remarks at the Ghana-Czech Business Cooperation Seminar held on April 9, 2025, at the Mövenpick Ambassador hotel in Accra.

According to President Mahama, Ghana’s economic relationship with the Czech Republic presents boundless possibilities. “World Bank data indicates that Ghana’s economy has demonstrated remarkable resilience, with a GDP growth rate projected at 4.2% for 2025—a testament to the soundness of our economic policies,” he said.

This growth positions Ghana as an attractive partner for Czech businesses seeking to access the vast African market of 1.3 billion consumers. “This positive trajectory, coupled with our strategic position as the gateway to West Africa and our pivotal role as host of the AfCFTA Secretariat, positions Ghana as an ideal partner for Czech businesses,” President Mahama added.

President Mahama cited data from the UN COMTRADE database, noting that exports from the Czech Republic to Ghana reached $20.82 million in 2023, while exports from Ghana to the Czech Republic stood at approximately $1.12 million in 2023. Rather than seeing the trade imbalance as a concern, President Mahama views it as an opportunity for growth and mutual advancement.

The President’s government is implementing a 24-Hour Economy Policy agenda, designed to maximize economic productivity, optimize infrastructure utilization, and create sustainable employment opportunities across multiple sectors. “This forward-looking policy aligns with the transformative objectives of the AfCFTA, which aims to create a single, integrated market for goods, services and people across our diverse continent,” he said.

President Mahama highlighted strategic sectors for collaboration between Ghanaian and Czech enterprises, including manufacturing and financial and digital services. “We readily welcome Czech expertise in machinery, automotive components and advanced agro-processing technologies to help Ghana add substantial value to our abundant agricultural produce and create integrated supply chains that benefit both our economies,” he said.

“The cutting-edge solutions by Czech companies in fintech, robust cybersecurity frameworks and sophisticated digital infrastructure development would be invaluable in accelerating this transformation, bridging the digital divide, and further enhancing inclusive financial ecosystems,” President Mahama noted.

Ghana’s economy has demonstrated resilience, with a GDP growth rate of 4.7% in the first quarter of 2024, driven by sectors like mining, information technology, agriculture, and services. The government’s economic policies and strategic initiatives aim to sustain this growth trajectory and promote inclusive development.