The African Export-Import Bank (Afriembank) is projecting Ghana’s inflation to average 9.9 percent in 2026.
Although, the Bank maintains that macroeconomic conditions are gradually stabilizing, this projection is far below recent rates the country is recording.
Ghana’s disinflationary trend deepened in January 2026, with headline inflation easing to 3.8 percent, the lowest recorded in nearly 27 years.
In its January 2026 assessment of Africa’s macroeconomic environment, the Bank places Ghana within a stable risk category, reflecting progress under fiscal consolidation efforts and ongoing macroeconomic reforms.
The report also ranks the Ghana cedi among the continent’s strongest-performing currencies. The Ghana cedi appreciated by 27.4 percent year-on-year against the US dollar, according to Afreximbank’s latest exchange rate assessment, making it one of Africa’s top gainers.
In broader emerging market comparisons, the currency is listed among the best high-yield performers year-to-date, supported by tight monetary policy and improved external conditions.
Despite these gains, the Bank notes that exchange-rate performance across Africa remains mixed, with several countries still facing depreciation pressures due to external imbalances and reserve constraints.
At the regional level, Africa’s economy is projected to expand by 4.3 percent in 2026, up from 4.2 percent in 2025, supported by easing inflation, improved policy coordination and recovering investment flows.
However, the continent’s average debt-to-GDP ratio remains elevated at about 72 percent, underscoring lingering fiscal vulnerabilities.
For Ghana, the outlook suggests improving price stability and currency strength, but within a broader continental environment still navigating debt risks and uneven recovery.
