Fitch Solutions Forecasts 5.2% Growth for Ghana's Construction Sector in 2026 Amid Regional Expansion

Ghana's construction sector is poised for a significant rebound, with its Gross Value Added (GVA) projected to reach a growth rate of 5.2% in 2026. This forecast, provided by Fitch Solutions, marks a notable acceleration from the 3.1% growth expected in 2025. The positive outlook underscores a period of recovery and expansion for the nation's infrastructure and building industries as they navigate a shifting economic landscape under the administration of President John Mahama. While the immediate outlook for 2026 is robust, the medium-term forecast suggests a gradual deceleration in the pace of expansion. According to the Fitch Solutions report, construction GVA growth is expected to moderate slightly to 5.1% in 2027, followed by a further decline to 4.5% in 2028. This projected slowdown reflects broader economic adjustments and the stabilization of project pipelines following the initial surge. Despite this cooling off, the sector remains a critical pillar of Ghana's economic development strategy. On a regional scale, Ghana continues to hold a competitive position, ranking seventh in Sub-Saharan Africa (SSA) for construction GVA. This placement sees Ghana outperforming major regional economies such as Nigeria, Angola, and South Africa. Within the SSA region, Ethiopia currently maintains the top spot for construction growth, followed closely by Cote d’Ivoire and Uganda. Ghana's ability to maintain a top-ten ranking highlights the resilience of its local industry compared to its continental peers. Looking at the broader global context, Sub-Saharan Africa is anticipated to emerge as the fastest-growing construction market in the world between 2026 and 2030. Fitch Solutions predicts the region will maintain an average annual growth rate of 5.1% during this period, significantly outpacing the global growth forecast of 1.2% for 2026. This regional momentum provides a favorable backdrop for Ghana, as international investors continue to eye the continent for long-term infrastructure opportunities despite external economic factors.