Ghana Reclaims Position as West Africa’s Second Largest Economy with $113 Billion GDP Amid New $250 Million Industrial Milestone

President John Dramani Mahama has announced that Ghana has officially overtaken Côte d’Ivoire to become the second largest economy in West Africa, with a Gross Domestic Product (GDP) now exceeding $113 billion. The announcement was made during a landmark groundbreaking ceremony for a $250 million float glass manufacturing facility in Aboadze, located in the Shama District of the Western Region. This economic milestone marks a significant turnaround for the nation, following a period of fiscal challenges, currency depreciation, and dwindling foreign investment. The President attributed this recovery to a rigorous fiscal consolidation program and improved international credit ratings that have successfully restored investor confidence in the Ghanaian market.

The resurgence of the economy is underpinned by a notable GDP growth rate of 5.5% recorded in the third quarter of 2025. During his address, President Mahama highlighted that the shift in economic rankings is supported by improved macroeconomic stability and a significant drop in inflation. This growth forms part of a broader national strategy to transition Ghana from a consumer-heavy economy to a robust producer and exporter. By surpassing Côte d’Ivoire, Ghana has positioned itself as a primary destination for productive investments within the African continent, signaling a new era of industrial competitiveness.

Central to this industrial shift is the new float glass factory, being developed by KEDA (Ghana) Ceramic Company Limited. The $250 million project will be executed in two distinct phases: the initial phase will boast a production capacity of 600 tons per day, eventually scaling up to 1,400 tons per day upon completion of the second phase. The facility is expected to be a major engine for regional development, creating 2,182 jobs during the construction phase and providing 1,453 permanent positions once fully operational. This investment allows Ghana to tap into the $60 billion global float glass market, with plans to export high-quality glass products to both African and European markets.

The establishment of the Shama facility aligns with national industrial strategies aimed at enhancing Ghana's footprint in the global manufacturing landscape. President Mahama emphasized that projects of this scale are essential for ensuring long-term economic resilience and reducing the country’s reliance on imports. As Ghana solidifies its place as an economic powerhouse in the sub-region, the focus remains on sustaining this momentum through strategic partnerships and the expansion of manufacturing capabilities to meet international standards.