Consumer confidence, business sentiments improve – BoG

Ghana's macroeconomic trajectory is shifting decisively in favour of stability, presenting fresh opportunities for European businesses and investors who have watched from the sidelines during the country's recent volatility. New data from the Bank of Ghana reveals that economic activity expanded at a robust 8.4% annual rate in January 2026, a meaningful improvement from 6.0% growth recorded in the same month a year prior. This acceleration, combined with strengthened currency resilience and improved business sentiment, marks a critical inflection point for the West African economy. The 40% jump in the Composite Index of Economic Activity reflects sustained momentum across Ghana's productive sectors. This metric, which tracks real economic output rather than nominal figures, suggests that genuine business activity is expanding—not merely being inflated away by currency depreciation. For European investors accustomed to Ghana's recent volatility, this represents tangible evidence that the economy is moving beyond crisis management into genuine expansion mode. The backdrop to this recovery deserves attention. Ghana spent much of the preceding three years navigating fiscal stress, currency depreciation, and an IMF-supported adjustment programme. The cost was real: investor confidence eroded, the cedi lost approximately 40% of its value against major currencies, and expatriate-heavy sectors retreated. However, the