Grapevine

Economies of Ghana, others projected to expand by 4.8% in 2024 – World Bank

Excluding Nigeria, Ghana, and countries in the West and Central Africa are projected to expand by 4.8% in 2024 and 5.1% in 2025-2026.

According to the October 2024 World Bank Africa Pulse Report, this will be on the back of strong private consumption and capital deepening.

The West African Economic and Monetary Union (WAEMU) - made up of only French-speaking countries - is also projected to grow at 5.7% in 2024 and 6.2% in 2025–26.

According t the report, strong growth in Benin, Côte d’Ivoire, Niger, and Senegal is supporting WAEMU’s performance.

“There are some bright spots in Sub-Saharan Africa despite the tepid recovery in 2024. In 2024, the real GDP growth of 27 countries in the region is expected to accelerate, and eight of these countries are posting growth greater than 5.0%—notably, Côte d’Ivoire (6.5%), Senegal (6.1%), Uganda (6%, and Tanzania (5.4%), among others.”