Ghana and Côte d’Ivoire’s export sectors face heightened risks, as the October-December cocoa crop development period coincides closely with the expected peak in El Niño conditions, Fitch Solutions has revealed. …
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. …
Ghana’s construction Gross Value Added (GVA) will grow by 5.2% in 2026, higher than the 3.1% recorded in 2025, Fitch Solutions has disclosed However, the GVA will slow down to 5.1% 2027 and 4.5% in 2028, respectively. …
Fitch Solutions is expecting El Niño’s adverse weather conditions to place downward pressure on the 2026/27 cocoa output, forecasting cocoa production of 1.7 million tonnes in Côte d’Ivoire and 670,000 tonnes in Ghana. …
Ghana’s inflation will average 12.8% in 2027, up from a projected 6.0% in 2026, Fitch Solutions said in its latest report, warning the rise will weigh on household purchasing power and private consumption. …
Ghana’s growth outlook has dimmed slightly amid the US-Iran conflict, Fitch Solutions has revealed in its April 2026 Sub-Saharan Africa Monthly Outlook. …
Fitch Solutions warns that El Niño conditions coinciding with Ghana and Côte d'Ivoire's October-December cocoa crop development period could reduce yields through lower rainfall and higher temperatures, weighing on export earnings, government revenues and rural incomes. The firm also flags food security risks as rice imports account for substantial consumption in both countries (Côte d'Ivoire 49%, Ghana 47%), exposing them to El Niño-driven tightening in global rice supplies.
Fitch Solutions warns that El Niño conditions coinciding with Ghana and Côte d'Ivoire's October-December cocoa crop development period could reduce yields through lower rainfall and higher temperatures, weighing on export earnings, government revenues and rural incomes. The firm also flags food security risks as rice imports account for substantial consumption in both countries (Côte d'Ivoire 49%, Ghana 47%), exposing them to El Niño-driven tightening in global rice supplies.
Ghana ranked 4th among African cocoa bean exporters to Europe between 2021 and 2024 with 53.7% of exports, according to Fitch Solutions. West Africa dominates global cocoa production at roughly 65% but Fitch Solutions warns the region faces growing pressure as EU sustainability and traceability requirements shape export flows.
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.
Fitch Solutions forecasts Ghana's construction Gross Value Added will grow 5.2% in 2026, then slow to 5.1% in 2027 and 4.5% in 2028. Ghana ranks 7th in Sub-Saharan Africa for construction GVA, behind Ethiopia, Côte d'Ivoire, and Uganda.
Fitch Solutions forecasts El Niño's adverse weather will reduce Côte d'Ivoire's 2026/27 cocoa production to 1.7 million tonnes (a 17.5% year-on-year decline) and keep Ghana's output flat at 670,000 tonnes. Smallholder farmers' limited access to irrigation, financing, and yield-enhancing technologies, combined with reduced fertiliser effectiveness and global supply constraints, compound vulnerability to erratic rainfall.
Fitch Solutions projects Ghana's inflation will average 12.8% in 2027, up from 6.0% in 2026, due to base effects and cedi pressure from global gold prices, while economic growth is forecast to moderate to 4.7% in 2027 from 5.7% in 2026, constrained by stagnant oil and cocoa production and rising fiscal pressures.
Fitch Solutions forecasts Ghana's inflation will average 12.8% in 2027, up from 6.0% in 2026, pressuring household purchasing power. The firm attributes the increase to fading cedi strength, expected El Niño weather effects on food prices, and potential constraints on cocoa production and electricity generation.
Fitch Solutions projects Ghana's economic growth will slow to 4.7% in 2027 from 5.7% in 2026, citing weaker agricultural output, stagnant oil and cocoa production, and intensifying fiscal pressures from debt repayments and Eurobond obligations.
Fitch Solutions has revised its 2026 growth projection for Ghana from 5.9% to 5.5%, citing stronger-than-expected price pressures and the US-Iran conflict as headwinds to consumer spending. The firm expects inflation to reach around 9% year-on-year by the end of 2026, driven largely through fuel prices after oil marketing companies hiked petrol and diesel tariffs by 10-15% in March 2026.