Associate Professor of Business Economics and Actuarial Science at the University of Professional Studies, Accra (UPSA), Professor Abdullah Abdul-Mumuni, has stated that Ghana's economy is showing signs of improvement despite significant challenges remaining. He made these comments on Ahotor FM's Adekyee Mu Nsem programme in Accra-Tema on September 23, 2026. According to Professor Abdul-Mumuni, increased private investment, household consumption, economic growth, and the decline in inflation point to an improvement in economic activity.
Professor Abdul-Mumuni highlighted that businesses are expanding and investing more, while increased household spending on goods and services is also contributing to economic activity. Real Gross Domestic Product (GDP) growth is another important indicator of economic expansion, particularly when considered alongside population growth and investment activity. The economist attributed the improvement partly to fiscal consolidation and efforts to increase domestic revenue mobilisation.
The decline in inflation is also a positive development, according to Professor Abdul-Mumuni. Although prices remain high, the slower rate of price increases provides a more stable environment for businesses and households. Measures to control government expenditure and improve revenue collection are helping to strengthen the country's fiscal position.
Commenting on Nigerian businessman Aliko Dangote's assessment of Ghana's economy, Professor Abdul-Mumuni said his perspective could be understood from the standpoint of a businessman who pays attention to investment, business expansion, and consumer activity. There is evidence of improvement in these areas, particularly in private investment and business activity.
However, Professor Abdul-Mumuni stressed that the progress does not mean Ghana has completely overcome its economic difficulties. Infrastructure remains a major challenge, with poor roads being one of the major challenges affecting economic growth and productivity. Inadequate infrastructure makes it difficult for businesses to operate efficiently and limits the movement of goods and services.
Professor Abdul-Mumuni called for sustained policy interventions to maintain the gains made while addressing infrastructure deficits and other structural challenges. He said continued improvement in private investment and economic activity would need to be supported by policies that translate economic growth into broader benefits for businesses and households.
The economist's comments come at a time when Ghana is seeking to address its economic challenges and improve the business environment. With the right policies and interventions, Ghana can build on the progress made and achieve sustained economic growth and development.
Key points
- Increased private investment and household consumption are driving economic growth in Ghana.
- The decline in inflation is a positive development for businesses and households.
- Infrastructure deficits remain a major challenge to economic growth and productivity.
