Key Takeaways
- Ghana's construction Gross Value Added (GVA) is expected to grow by 5.2% in 2026, higher than the 3.1% recorded in 2025.
- The country ranks 7th in Sub-Saharan Africa (SSA) with the highest construction GVA, outperforming Nigeria, Angola, and South Africa.
- Fitch Solutions forecasts SSA's construction GVA to grow by 4.3% in 2026, down from previous forecasts due to the US-Iran conflict.
Ghana's construction sector is poised for growth in 2026, with the country's Gross Value Added (GVA) expected to increase by 5.2%. This growth rate surpasses the 3.1% recorded in 2025, according to Fitch Solutions. Meanwhile, the country ranks 7th in Sub-Saharan Africa (SSA) with the highest construction GVA, outperforming Nigeria, Angola, and South Africa.
Ghana's construction sector has been performing well, driven by government initiatives and private sector investment. The country's ranking in SSA highlights its growing construction industry, with Ethiopia, Cote d'Ivoire, and Uganda taking the top three spots. Fitch Solutions attributes the growth to the industry's expansion, which accelerated after the COVID-19 pandemic.
Background & Context
The construction sector is a critical component of Ghana's economy, contributing significantly to the country's GDP. The sector's growth is driven by various factors, including government investment in infrastructure, private sector investment in real estate, and the expansion of the country's manufacturing sector.
Ghana's ranking in SSA highlights the country's growing construction industry, with Ethiopia, Cote d'Ivoire, and Uganda taking the top three spots. These countries have been investing heavily in infrastructure development, including roads, bridges, and buildings. This investment has driven growth in the construction sector, attracting foreign investment and creating jobs.
Key Findings
Fitch Solutions forecasts SSA's construction GVA to grow by 4.3% in 2026, down from previous forecasts of 4.6% as of April 2026 and 5.4% as of December 2025. The slowdown is attributed to the US-Iran conflict, which has affected the global construction market. Despite this, Fitch Solutions maintains a robust outlook for the region's construction market, with construction GVA expected to expand in real terms by an annual average of 5.1% between 2026 and 2030.
The UK firm points out that even with the weakened outlook for 2026, SSA's construction industry is expected to remain the fastest-growing construction market globally in 2026 and over the medium term. The region's growth rates for 2026 and for the 2026-2030 period are far above forecast growth for global construction GVA of 1.2% in 2026 and average growth of 2.5% between 2026 and 2030.
Broader Implications
The growth of Ghana's construction sector has significant implications for the country's economy and development. The sector's growth creates jobs, attracts foreign investment, and drives economic growth. The government's investment in infrastructure development has been critical in driving growth in the construction sector, and this trend is expected to continue in the coming years.
The growth of SSA's construction sector also has implications for the global construction market. The region's growth rates are far above those of other regions, including Latin America and Asia-Pacific. This highlights the potential of SSA's construction sector as a key driver of global economic growth.
Looking Ahead
Ghana's construction sector is poised for growth in the coming years, driven by government initiatives and private sector investment. The country's ranking in SSA highlights its growing construction industry, and the sector's growth has significant implications for the country's economy and development. As the global construction market continues to evolve, Ghana's construction sector is expected to remain a key driver of growth in SSA.
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