Economic Activity Gains Momentum as Business and Consumer Confidence Rises
Ghana’s economic activity showed sustained improvement at the start of 2025, supported by increased consumption, trade, and private sector credit growth, according to the Bank of Ghana.
“The Bank’s real sector indicators point to a sustained improvement in economic activity, amid significantly improved business and consumer sentiments,” said Dr. Johnson Asiama, Governor of the Bank of Ghana.
The central bank’s Composite Index of Economic Activity (CIEA) rose by 5.7% year-on-year in January 2025, up from 3.5% in the same period of 2024.
Confidence surveys conducted in February 2025 also reflected a significant boost in both consumer and business sentiment, driven by expectations of an improved macroeconomic environment.
Private sector credit, a key driver of economic expansion, is showing signs of recovery. In February 2025, private sector credit recorded an annual growth rate of 26.9%, up from 5.1% in February 2024.
In real terms, credit growth stood at 3.1%, rebounding from a 14.7% contraction recorded a year earlier.
The latest data suggest that Ghana’s economic outlook is strengthening, supported by robust credit expansion and improving sentiment across the business landscape.
