Ghana economy shows mixed signals with slowing GDP and stock market retreat

Ghana's economy experienced a slowdown in the second quarter of 2026, with GDP growth easing to 6.0% year-on-year. This deceleration was attributed to weaker performance in agriculture, gold production, and public services. However, analysts at IC Securities maintain a full-year growth forecast of 6.4%, citing a potential rebound in the second half of the year driven by new Tullow Oil wells and a strong Information and Communication Technology (ICT) sector.

Simultaneously, the Ghana Stock Exchange saw a retreat during the week ending September 18, 2026. The Composite Index declined by 2.06%, resulting in a loss of over GH¢6bn in market capitalization. Trading activity also saw a significant contraction, with weekly turnover falling 43.80%. Despite this weekly dip, the market remains up significantly year-to-date. MTN Ghana dominated market activity, accounting for the majority of volume and value traded, even as its stock price closed lower.