Global professional services firm, Deloitte has listed five sectors of the Ghanaian economy that will experience significant expansion in 2025.
Global professional services firm, Deloitte has listed five sectors of the Ghanaian economy that will experience significant expansion in 2025.
These are Mining and Quarrying; Information, Communication and Technology; Construction; Finance and Insurance and Agriculture.
For Mining and Quarrying, the sector grew significantly by 14.8% in the second quarter of 2024 from 1.4% a year ago.
Again, mining exports from gold is a major source of export proceeds and forex for Ghana.
Deloitte West Africa disclosed in a report that government investments and expansion plans will spur growth in this sector.
With regard to Information, Communication and Technology, the sector linkages and the growing use of technology and Artificial Intelligence, it alluded, make it a significant growth driver.
ICT is one of the fastest growing sectors in Ghana, although it recorded a sharp slowdown in its pace of growth to 12.8% in quarter 2 2024 from 25.1% in quarter 2 2023.
On construction, the sector grew by 8.4% in the second quarter of 2024 from a contraction of 11.7% in Q2 2023.
Deloitte said the increased investments by the government in infrastructure with programmes such as the Economic Roads Improvement Programme (ERIP) will spur economic growth in the sector.
Similarly, the Finance and Insurance sector expanded by 7.6% in Q2 2024 from 0.4% in Q2 2023.
The World Bank approved a US$250 million International Development Association (IDA) credit for a five-year Ghana Financial Stability Project to support the financial sector that has been impacted by the government’s domestic debt exchange programme.
Deloitte pointed out that this has helped stabilised the financial services sector.
For agriculture, Deloitte pointed out that the ongoing government initiatives such as the enhanced Planting for Food and Jobs programme will boost transparency and efficiency along the value chain.
Again, the government also has Economic Enclaves projects under its GhanaCARES programme, which are targeted at attracting private sector investment.