Africa-Press – Ghana. Ghana’s economy is showing strong signs of recovery, with inflation dropping to 6.3 percent in November 2025, the lowest in years, and foreign reserves climbing to US$11.4 billion.
This has provided nearly five months of import cover, the Bank of Ghana has announced.
The cedi has appreciated by over 24 per cent year-to-date, supported by tighter monetary policy, improved fiscal discipline, and stronger external buffers.
Economic activity has responded appropriately, with GDP growth reaching 6.3 percent in the first half of 2025 and non-oil growth accelerating to nearly eight percent.
Dr Johnson Asiamah, Governor of the Bank of Ghana, said these gains reflected coordinated policy efforts following one of the most difficult macroeconomic episodes in recent history.
“Just three years ago, inflation surged to 54.1 percent, reserves fell to half a month of import cover, and confidence was severely eroded. Today, the recovery is real, measurable, and meaningful,” he stated.
He made the remarks at the listing of the First Atlantic Bank on the Ghana Stock Exchange in Accra after a successful Initial Public Offering.
Dr Asiamah emphasised that reform must follow recovery, citing the listing of the Bank as a critical step toward building resilience.
“Bank listings broaden ownership, deepen accountability, and strengthen governance. They are not just capital-market exercises; they are stability instruments,” he said.
The Governor noted that Ghana’s pension sector now held over GH¢100 billion in assets, creating opportunities for domestic investment beyond government securities.
“The oversubscription of recent equity offers shows that when credible assets are available, domestic capital responds,” he added.
Dr Asiamah called for more banks and corporates to access the equity market, stressing that a diversified ownership structure will reduce concentration risks and support sustainable growth.
“By 2026 and beyond, deeper capital markets and broader domestic participation will enhance resilience and align the financial system with national development objectives,” he said.
The Bank of Ghana pledged continued collaboration with regulators, market operators, and institutional investors to encourage additional listings and strengthen financial
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