Introduction Macroeconomic Insights Global Political Landscape Ghana’s Fiscal Position Technology & Cybersecurity Banking Industry EXECUTIVE SUMMARY G hana’s banking industry enters 2026 at a defining stage for policy credibility and financial stability. The economy is emerging from a period of severe macroeconomic instability, marked by high inflation, exchange-rate volatility, and debt distress, into a phase of stabilisation supported by policy discipline and improving confidence. As the IMF-supported programme moves into its final phase, the responsibility for sustaining credibility increasingly rests on domestic policy discipline, institutional strength, and market confidence.
Fiscal performance has strengthened materially. The deficit has narrowed, the primary balance has returned to surplus, and public debt ratios have declined sharply following restructuring. These improvements reduce near-term sovereign risk, but they do not eliminate it. Government securities remain a large component of bank assets, and fiscal slippages would quickly transmit into balance- sheet stress. Managing sovereign concentration and duration risk therefore remains central to bank strategy in 2026. Mr. Lawrence Sackey The banking sector itself is liquid, well capitalised, and profitable.
Total assets and deposits have expanded rapidly, reflecting strong public confidence and deepening financial inclusion. Credit growth, however, has lagged deposit mobilisation, resulting in a low loan-to-deposit ratio and significant unutilised lending capacity. Elevated non- performing loans, particularly following the DDEP, continue to constrain risk appetite and reinforce conservative lending behaviour. Head of Research, Media, Business Intelligence and Market Conduct Ghana Association of Banks Globally, growth remains moderate and uneven. Disinflation is progressing, but geopolitical fragmentation, trade disruptions, and commodity price volatility continue to pose downside risks.
For Ghana, easing global inflation and the prospect of lower international interest rates offer some relief. However, external shocks, shifting capital flows, and energy price uncertainty remain persistent sources of vulnerability. Monetary easing in 2025 has begun to support a gradual recovery in private sector credit, but transmission remains uneven. Lending rates adjust downward slowly, while deposit rates remain sticky. Margin management, repricing risk, and credit quality will therefore be key challenges as competition intensifies. Domestically, growth has recovered strongly, supported by fiscal consolidation, stabilising inflation, and improved external balances.
Inflation fell sharply from its 2022 peak, reflecting tight monetary conditions and improved exchange rate management. The current account has moved into surplus, underpinned by strong gold receipts and resilient remittances. These developments have eased pressure on the cedi and improved liquidity conditions across the financial system. Beyond macro-financial factors, structural forces are reshaping the operating environment. Digitalisation, mobile money dominance, and the rise of platforms such as GhanaPay are redefining Ghana Association of Banks Ghana Association of Banks 2026 Industry Outlook 2026 Industry Outlook 03