Business activity returned to growth in December, 2025, as companies increased their purchasing activity and employment.
Private-sector firms continued to benefit from a lack of inflationary pressure, with both input costs and output prices down again in December. Business activity returned to growth in December after stagnating in November, and rose solidly during the month.
With overall input costs ticking down, companies lowered their output prices again in December.
According to: “The December reading of the S&P Global Ghana PMI rounds off a positive year for the private sector, in which a marked appreciation of the currency helped to subdue inflation and support growth of new orders and business activity”.
Looking to the prospects for 2026, companies remain optimistic that output will increase.
Business confidence is growing significantly ahead of 2026, driven by an improved macroeconomic outlook, a stable currency (Cedi), decreasing inflation and a supportive 2026 National Budget.
Both domestic and international analysts project strong economic growth, moving the country from a period of stability to one focused on aggressive economic expansion.
Country Managing Partner of Deloitte Ghana, Daniel Kwadwo Owusu, has expressed strong optimism about Ghana’s business environment in 2026, citing improved macroeconomic fundamentals under the President Mahama-led administration as a signal of better prospects ahead.
He added that expectations for 2026 were significantly higher, with businesses anticipating a shift from stabilisation to more aggressive economic activity.
“Businesses can now forecast with ease where inflation and the exchange rate will pan out in 2026. Stable economic indicators help businesses to plan and budget well, and that is very helpful”.
A Technical Advisor at the Ministry of Finance, Dr. Theo Acheampong, is also projecting stronger outcomes in 2026 after what he described as a largely positive year for citizens in 2025.
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