Ghana's Business Activity Continues to Rise Despite Unchanged New Orders

Companies in Ghana continued to increase their business activity in October, despite a stagnation of new orders. This growth is a positive sign for the country's economy, which has been working to recover and stabilize. The ongoing rise in business activity suggests that companies are adapting to the current economic conditions and finding ways to grow.

Employment and purchasing activity also improved in October, indicating that businesses are investing in their operations and workforce. This increase in employment and purchasing can have a positive impact on the overall economy, as it can lead to increased consumer spending and economic growth. The improvement in these areas is a welcome sign for Ghana's economy.

The stagnation of new orders in October comes after two months of growth, suggesting that businesses may be experiencing a temporary slowdown in demand. However, companies remained strongly confident in the year-ahead outlook, indicating that they expect growth to continue in the near future. This confidence is likely driven by the ongoing improvements in business activity, employment, and purchasing.

Ghana's economic recovery has been underway for some time, and recent reports suggest that the country is making progress. The 2027 budget will be a critical test of the government's ability to convert stronger growth, lower inflation, and improved fiscal stability into productive investment, sustainable employment, and greater financial security for households.

Ghana has also been recognized as one of Africa's most attractive investment destinations, ranking sixth in Rand Merchant Bank's (RMB) Where to Invest in Africa 2026/27 report. This ranking is a testament to the country's economic progress and suggests that investors are confident in its growth potential.

The Association of Community Banks (ACB) Ghana is set to culminate its 50th Anniversary celebrations with a landmark gathering of policymakers, regulators, and banking industry leaders. This event will provide an opportunity for stakeholders to reflect on the past achievements of community banking and chart a strategic course for the sector's future.

Other recent developments in Ghana include the launch of the Agricultural Development Bank's (ADB) Green-Grow Vegetable Farmers Lending Scheme, aimed at expanding access to structured agricultural financing and boosting local vegetable production. Additionally, Huawei Ghana has launched the 2026 edition of its flagship corporate social responsibility programme, Seeds for the Future.

Key points

• Companies in Ghana see increased business activity, employment, and purchasing in October despite unchanged new orders.
• Ghana's economic recovery is making progress, with recent reports suggesting that the country is working to convert stronger growth into productive investment and sustainable employment.
• Ghana ranks sixth in Rand Merchant Bank's (RMB) Where to Invest in Africa 2026/27 report as one of Africa's most attractive investment destinations.