John Dramani Mahama has announced that Ghana has reclaimed its position as the second-largest economy in West Africa, overtaking Côte d’Ivoire in recent continental rankings.
Speaking at a sod-cutting ceremony for a $250 million float glass manufacturing facility at Shama in the Western Region, the President said Ghana is now ranked as the seventh-largest economy in Africa.
“I’m pleased to announce that we have also overtaken Côte d’Ivoire as the second-largest economy in West Africa,” he stated.
According to President Mahama, Ghana’s Gross Domestic Product (GDP) has risen to an estimated $113 billion, surpassing the $100 billion mark. He recalled that in 2022, Côte d’Ivoire had overtaken Ghana, while Nigeria remained the region’s largest economy with a GDP of about $300 billion. At the time, Ghana’s GDP stood at around $75 billion.
“Our economy expanded by 5.5 per cent in the third quarter of 2025 — the strongest performance since 2020,” he noted. Inflation, he added, declined sharply from 23.5 per cent in January 2025 to 3.8 per cent in January 2026.
The President acknowledged that early in 2025, the country faced significant economic strain, with dwindling foreign investment, weakened investor confidence, and a depreciating cedi. However, he said the government’s reset agenda and fiscal consolidation programme had restored macroeconomic stability and international credibility.
He cited sovereign rating upgrades by agencies including Moody’s and S&P Global Ratings as evidence of renewed investor confidence. He described the ratings as signals that Ghana is stable, predictable, and open for business.
The event marked the commencement of construction of a new float glass factory by KEDA (Ghana) Ceramic Company Limited. The President also commissioned a modern sanitary ware factory and inaugurated Phase 5 of the company’s ceramic tile production line.
“This is not merely an expansion of factories. It is a statement to the world that Ghana is determined to produce, process, manufacture, and export,” he declared.
President Mahama noted that the global float glass market is valued at approximately $60 billion annually and stressed that Ghana must secure a share of that value.
The float glass project, with a total investment of $250 million, is expected to be among the largest industrial ventures in Ghana’s history. Phase 1 will establish a production capacity of 600 tons per day, while Phase 2 will add 800 tons, bringing total daily capacity to 1,400 tons.
He expressed optimism that Phase 1 would be commissioned in August next year, with sod-cutting for Phase 2 to follow. Once completed, the facility is expected to rank among the largest float glass plants in Africa, with products destined for export to other African countries and Europe.
The President emphasised that the development reflects Ghana’s renewed industrial ambition and commitment to transforming into a production-driven economy.
