Ghana's GDP growth to accelerate in the second half of 2026 — MyJoyOnline
In Ghana, gross domestic product growth is expected to accelerate again in the second half of 2026. This forecast was released by analytical company IC Securities, MyJoyOnline reports. The company maintained its forecast for the country's real GDP growth for the year at 6.4%, with a possible deviation of 0.5 percentage points.
In the second quarter of 2026, Ghana's annual GDP growth rate slowed to 6%. This was attributed to weaker activity in non-oil sectors, as well as slower growth in agriculture, gold mining and public services.
Oil, gas and services
IC Securities expects a further recovery in oil and gas production in the second half of the year. According to the forecast of Tullow Oil PLC management, new wells began operating in July and August 2026, and their initial production figures met expectations.
Analysts also named information and communication technologies the main driver of growth in the services sector. In their assessment, additional support is expected from transport and warehousing, financial and insurance services, as well as trade. In the fourth quarter, economic activity may be strengthened by a seasonal increase in consumer spending ahead of the Christmas holidays.
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Sector dynamics
The services sector grew by 8% year-on-year in the second quarter, after 7.1% in the first quarter. It accounted for 57.6% of the economy's total growth. The information and communications subsector grew by 30.9%, compared with 25.2% in the first quarter and 21.3% in the second quarter of 2025.
Industrial growth slowed from 6.9% in the first quarter to 4.3% in the second. Growth in mining and quarrying amounted to 2.6%, following 10.7% at the beginning of the year, although a year earlier this sector had contracted by 1.8%.
Agriculture
Agriculture grew by 3.9% year-on-year, compared with 4% in the first quarter and 7.1% a year earlier. Its performance was affected by a 24.7% decline in fishing, the third consecutive contraction. At the same time, the cocoa sector grew by 5.2%, and IC Insights expects the seasonal harvest in the third quarter to support the agricultural sector through the end of the year.
