Ghana’s gross domestic product has crossed $114 billion, making it the eighth largest economy in Africa, President John Dramani Mahama announced as he made the case for investment ties with Belarus.
In his address at the Ghana-Belarus Business Forum in Minsk on Monday, President Mahama said the economy had been transformed since his administration took office in January 2025, with inflation falling from about 54 percent in 2023 to 3.4 percent in 2026 and foreign exchange reserves rising from $8.6 billion in 2024 to $13.9 billion in 2025.
The cedi, he said, appreciated by 46 percent against major trading currencies in 2025, while interest rates declined and investor confidence returned. The economy recorded growth of about six percent in 2025.
“The message is clear: Ghana is stable, Ghana is growing, and Ghana is open for business,” President Mahama told the gathering of Belarusian and Ghanaian business leaders.
He said Ghana’s improved international credit outlook reflected renewed confidence in the country’s economic and fiscal management and that businesses now operate within a more predictable macroeconomic environment.
The President told investors that companies establishing operations in Ghana would gain access not only to the country’s domestic market of 35 million people but also to a regional market of over 400 million people through the ECOWAS zone and a continental market of 1.4 billion people through the African Continental Free Trade Area, which has a combined GDP of $3.3 trillion.
He assured investors of transparent legal and regulatory systems, robust investor protection, and guaranteed repatriation of profits.
President Mahama said the true measure of the Ghana-Belarus relationship would not be the number of diplomatic exchanges conducted but the number of businesses created, jobs generated, technologies transferred and investments mobilised together.
Ghana and Belarus have maintained diplomatic relations for more than three decades, but President Mahama acknowledged that the volume of trade between the two countries had not yet reflected the full potential of both economies.
Richard Aniagyei, ISD
