World Bank predicts economic slowdown for Ghana in 2024

According to the April 2024 World Bank Africa Pulse Report, Ghana's economy is anticipated to experience a deceleration in growth despite projected improvements in economic activity.

The report projects a GDP growth rate of approximately 2.9% for Ghana in 2024, a decline from nearly 5.0% in 2025.

Ghana, along with 14 other African nations, is expected to witness a

Read full articleslowdown in growth during 2024, contributing about 0.10% to the regional GDP growth among the largest economies in the region.

In Sub-Saharan Africa, growth is forecasted to accelerate to 3.4% in 2024, with a further increase to an average rate of 3.9% in 2025–26. However, this rebound in growth is driven by large countries in the region that are experiencing growth rates lower than those seen in the first two decades of the century.

The World Bank notes that while growth is expected to accelerate in nearly 70% of Sub-Saharan African countries in 2024, about half of them will still have growth rates below their average from 2000–19.