Ethiopia just overrun Ghana as the country with the fastest growing economy in 2018. This is revealed by IMF’s latest forecasts issued yesterday April 17.
According to data from the international institution, Ethiopia will record an 8.5 % growth rate and 6.3% for Ghana.
IMF indicated that this good performance from Ethiopia could be spurred by an influx of investors such as General Electric Co, Standard Group as well as many Chinese companies, into an economy whose GDP (($73 billion ) is almost the double of that of Ghana ($43 billion).
Meanwhile, Ghana’s economy is increasingly dependent on commodity prices, since the country became an oil producer in 2010. These new incomes have enabled the country, to achieve 8.5% growth in 2017, the best performance in five years according to the country's National Statistics Office.
Let’s note that this new growth forecast of 6.3% for Ghana represents a sharp shrink compared with the 8.9% forecasted in October 2017, leading the country to be Africa’s 4th fastest growing economy after Ethiopia, Côte d'Ivoire (7.4%) and Senegal (7%), respectively.
Let’s recall that last January, in its global economic outlook report, World Bank forecasted an 8.3% growth for Ghana, ahead of Ethiopia (8.2%) and Côte d'Ivoire (7.2%).
Moutiou Adjibi Nourou (intern)
Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...
In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...
President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...
Highlights: • New 1% US tax on outbound remittances to take effect January 1, 2026• Africa received...
The former Nigerian president has passed away. A feared military figure and controversial head of st...
Highlights: • 38 African cities ranked among the world’s 1,000 most dynamic for digital innovation in 2025, up from 36 in 2024• Nigeria leads Africa with...
Highlights: • 400,000 certified high-yield tea plants distributed to smallholders• Government allocates $27 million to renovate 19 tea factories•...
Highlights: • The project is expectec to cost around $80 million and cover over 100 hectares in Ngogom, Bambey.• It is led by MidWestern Logistics...
Highlights • Cross-border fiber optic interconnection inaugurated on July 18, linking Dar es Salaam to Mombasa• Project connects Tanzania’s national...
In southeastern Morocco, near the Algerian border, lies Merzouga—a small village at the heart of the Saharan desert, known for its monumental dunes and...
Ashenda is a vibrant traditional festival celebrated primarily in northern Ethiopia, particularly among the Tigray and Amhara communities, as well as in...