… andard Bank, Absa and First National Bank) and their bank holding companies (BHCs) are well positioned to weather spillovers from the US-Iran war, reflecting their strong franchises and diversification, healthy profitability, and sound capital and liquidity buffers, Fitch Ratings …
Fitch Solutions, the research arm of global credit ratings agency Fitch, has projected the country’s inflation to rise by 9% by the end of 2026 despite the cedi’s strong performance in recent times Associate Director at Fitch Solutions, Mike Kruiniger, who made the projection dur …
Fitch Solutions, the research arm of global credit ratings agency Fitch, has projected that Ghana’s inflation will rise in the coming months, reaching 9% by the end of 2026. …
… When Ghana borrows money on international markets, the interest rate it pays is decided largely by three private companies in New York: Moody’s, S&P, and Fitch. …
… The Bank is also optimistic that improved investor confidence following Ghana’s Fitch upgrade and the government’s early Eurobond repayment decision could support the economy. …
… The Bank is also optimistic that improved investor confidence following Ghana’s Fitch upgrade and the government’s early Eurobond repayment decision could support the economy. …
… Fitch Ratings upgraded the country’s long-term foreign-currency rating from B- to B with a positive outlook in May 2026, citing a sharp fall in public debt (from roughly 71% of GDP in 2024 toward a projected 46% by 2027), sustained fiscal surpluses and rising reserves. …
… It further believes renewed investor confidence, following Ghana’s recent Fitch upgrade and government’s early Eurobond repayment decision, could support the economy. …
Nigerian banks’ impaired loans ratios increased sharply, putting pressure on capitalisation, following the withdrawal of longstanding forbearance at end half-year 2025, Fitch Ratings has disclosed. …
Fitch Ratings reports that Standard Bank, Absa, and First National Bank are well positioned to weather spillovers from the US-Iran war, citing their strong franchises, healthy profitability, and sound capital and liquidity buffers. The rating agency forecasts headline inflation at 5.0% in June 2026 and predicts further interest rate rises followed by cuts, with impaired loan ratios declining and capital ratios remaining comfortably above regulatory minimums.
Fitch Ratings reports that Standard Bank, Absa, and First National Bank are well positioned to weather spillovers from the US-Iran war, citing their strong franchises, healthy profitability, and sound capital and liquidity buffers. The rating agency forecasts headline inflation at 5.0% in June 2026 and predicts further interest rate rises followed by cuts, with impaired loan ratios declining and capital ratios remaining comfortably above regulatory minimums.
Fitch Solutions has projected Ghana's inflation will rise to 9% by the end of 2026, largely driven by renewed pressure on the cedi, stronger domestic demand, and higher food prices linked to El Niño-related weather disruptions, despite the cedi's recent strong performance. The projection is based on the Bank of Ghana's new monetary stance and expectations that the cedi will not stabilise strongly in coming months.
Fitch Solutions projects Ghana's inflation will rise to 9% by the end of 2026, driven largely by renewed pressure on the cedi, and further to 13.2% by end-2027 due to stronger domestic demand, imported inflation, and food price increases linked to weather disruptions. The forecast contrasts with Finance Minister Dr Cassiel Ato Forson's projection of 5% inflation by December.
A Chronicle essay traces one day in the life of Abena, a 34-year-old fabric seller in Madina who navigates multiple global systems—including money-transfer networks that charge sub-Saharan Africa an average of 8 percent, far above the global 3 percent target—each extracting value before day's end, illustrating how international financial infrastructure shapes the lives of ordinary Africans.
The Ghana cedi has weakened further as demand for foreign exchange continues to exceed market supply, with depreciation reaching 8.89% from January to date. The pressure stems partly from increased dollar demand by energy sector players financing crude oil imports and petroleum products, compounded by inadequate dollar supply to meet broader business demand.
The Ghana cedi has come under renewed pressure as demand for foreign exchange continues to outstrip market supply, with depreciation reaching 8.89% from January to date. Market players attribute the pressure to increased demand from energy sector players financing crude oil and petroleum imports, as well as inadequate dollar supply to meet business demand.
International investors are shifting focus from Ghana's potential and opportunities to examining its discipline, institutions, governance, and capacity to deliver projects, according to an analysis by Solomon Asamoah. This shift reflects tighter global capital markets and investors' ability to compare Ghana with competing African and emerging-market opportunities.
The Bank of Ghana says recent cedi stability is expected to continue following improved foreign exchange conditions, supported by its Forex Intermediation and FX Intervention programmes. The cedi recorded its first monthly appreciation of more than 3% in June 2026, and the BoG plans to supply about US$1 billion to the market in July 2026.
Fitch Ratings reports that Nigerian banks' impaired loans ratio jumped to 8% in early 2026 following the withdrawal of regulatory forbearance, but capital raisings to meet new paid-in capital requirements enabled banks to absorb additional provisions and remain compliant with minimum capital adequacy ratios. The agency expects the impaired loans ratio to decline to about 5% by end-2026 as oil production and prices improve.
African banks face rising climate-related credit vulnerability, with transition risks (from carbon-intensive sectors and decarbonisation) posing near-term concerns and physical risks (droughts, floods, heat stress, water scarcity) becoming more material from the mid-2030s onward. Fitch recommends banks strengthen risk frameworks, diversify portfolios, and adapt funding structures.
Fitch Ratings predicts Ghana will achieve 5.0% GDP growth in 2026, down from 5.9% in 2025, citing risks from the Middle East conflict including higher energy import costs, supply shortages, and inflationary pressures that could test the region's economic resilience.
The Bank of Ghana Governor, Dr. Johnson Asiama, stated that the Ghana International Bank will become a leading financial bridge between Africa and international capital markets. The GHIB Board announced Chartered Accountant and Banker Ian Greenstreet as the new CEO, subject to regulatory approval, succeeding Dean Adansi who led the bank for eight years.
According to an IEA poll conducted in May 2026 across all sixteen regions of Ghana, President John Mahama's job approval rating has fallen to 58.9%, down from 68% in December 2025, though 28.4% disapprove and 12.8% have no opinion. Among approvers, 73.5% cite the government's handling of the economy as the overwhelming reason for their support.
President John Mahama's job approval rating has dropped to 58.9% from 68% in December 2025, according to an IEA poll of over 1,000 respondents conducted across Ghana's sixteen regions in May 2026. While 28.4% disapprove and 12.8% have no opinion, the wide gap between approval and disapproval shows positive assessments remain well ahead of critical ones, with economic management cited as the overwhelming reason for approval among supporters.
President John Mahama's job approval rating has dropped from 68% in December 2025 to 58.9% in May 2026, according to an IEA nationwide poll of over 1,000 respondents across all sixteen regions. Despite the decline, a majority still approve of his performance, with the economy cited as the overwhelming reason for support among approvers.
Ratings agency Fitch has revised its forecast for Brent crude to US$87 per barrel, up from US$70, citing oil shocks as a headwind to world growth; the firm also examined an adverse scenario where oil prices could average US$100 per barrel in 2026 given persisting geopolitical uncertainties.
Fitch Ratings has lowered its 2026 global growth forecast by 0.2 percentage points to 2.4%, citing higher inflation squeezing real wages and raising input costs, though AI-related IT investment is cushioning the impact. The firm also cut forecasts for the US and eurozone but raised China's forecast to 4.6% following strong first-quarter 2026 data.
Finance Minister Dr Cassiel Ato Baah Forson told diaspora Ghanaians in London that Ghana is "open for business" and invited them to invest, noting that diaspora remittances exceeded $7 billion last year and describing the diaspora as important partners in nation-building.
Fitch Ratings upgraded United Bank for Africa Ghana's Long-Term Issuer Default Rating to 'B' from 'B-' with a Positive Outlook, and its Viability Rating to 'B' from 'B-', citing improved asset quality, profitability, and capital strength. The upgrade reflects improvements in Ghana's sovereign rating and the bank's strong financial metrics, including an NPL ratio of 2.1% at end-2025 and a Total Capital Adequacy Ratio of 22.7% in Q1 2026.
The Ghana Investment Promotion Centre CEO reported that the European Union invested US$16.24 billion in Ghana between 1994 and May 2026 across 2,236 projects, with manufacturing accounting for over US$8.49 billion and services, construction, and mining also receiving significant inflows.
Despite Africa representing nearly one-fifth of global population but less than 3% of sovereign debt—lower ratios than Europe, the US, and Japan—many African countries remain trapped in debt cycles due to structural inequalities in global finance that limit access to affordable, long-term capital and force reliance on costly, short-term, market-based borrowing in foreign currencies.
Petrol and diesel prices are expected to increase from May 16, 2026, even if the government extends its current intervention programme. With extension, petrol could rise by 2.5–3% to around GH¢14.50 per litre and diesel by 1.8% to about GH¢16.50; without extension, petrol could reach GH¢15.80 and diesel GH¢18.05, according to the Chief Executive Officer of the Chamber of Oil Marketing Companies.
Secondary bond market aggregate turnover fell 46.60% week-on-week to GH¢1.25 billion, with the 2027-2030 maturity segment accounting for 88.77% of activity at a weighted-average yield of 11.25%. Analysts expect activity to remain concentrated in the front-to-belly segment ahead of the May 2026 MPC meeting, though Fitch's sovereign rating upgrade of Ghana should support investor sentiment.
Rating agency Fitch Ratings projects that the Ghanaian government could extend temporary fuel relief measures introduced to cushion consumers against rising petroleum prices, if the fiscal cost remains below 0.1% of GDP per month and can be offset by savings elsewhere. Fitch said the government may be compelled to maintain the intervention because of the potential impact of rising fuel prices on inflation.
Fitch Ratings upgraded Ghana's Long-Term Foreign-Currency Issuer Default Rating from B- to B with a Positive Outlook, citing a sharp decline in the public debt-to-GDP ratio, strong fiscal consolidation, cedi appreciation, and growth in international reserves. Ghana's public debt is projected to fall to 46 per cent of GDP next year, below the "B" median forecast of 51 per cent.
Fitch Ratings upgraded Ghana's sovereign credit rating from B- to B with a Positive Outlook, citing strong economic growth, declining public debt, improved fiscal discipline, and rising international reserves as evidence of the country's recovery from debt restructuring and fiscal consolidation.
Fitch Ratings says Ghana's gold sector has driven economic growth and external stability through high global prices and increased output, boosting export earnings and international reserves. The agency projects Ghana's current account will remain in surplus in the near term, though it may narrow as import demand rises and commodity prices moderate.
Ratings agency Fitch anticipates the Bank of Ghana will pause its monetary policy easing cycle to prevent inflation risks, after cutting rates by a cumulative 1,400 basis points between July 2025 and March 2026 to 14%. Fitch upgraded Ghana's credit profile to B with a stable outlook, citing expectations of 5% average GDP growth through 2027 supported by gold mining and lower inflation.
Following a Fitch credit rating upgrade to B- with a stable outlook, Ghana's government recorded an 80% oversubscription of treasury bills for the first time in two months, receiving GH¢7.8 billion in bids but accepting just above GH¢6 billion. Interest rates showed mixed movement across the yield curve, with the 91-day bill yield falling to 4.88% and the 364-day bill yield falling to 10.13%, while the 182-day bill yield rose to 7.03%.
Fitch Ratings upgraded Ghana's Long-Term Foreign-Currency Issuer Default Rating from B- to B with a Positive Outlook, citing strong economic growth, sharp debt reduction, fiscal discipline, and rising international reserves. The agency expects Ghana's public debt to decline to 46% of GDP by 2027 and international reserves to reach 4.8 months of external payments by the same year.