Ghana’s household spending to hit GH¢129.7bn in 2025 – Fitch Solutions

Ghana’s real household spending is projected to grow by 2.5% year-on-year in 2025, following a modest 1.1% increase in 2024, reaching GH¢129.7 billion—25.4% higher than pre-pandemic levels in 2019.

According to Fitch Solutions, this growth will be driven by lower inflation, a more stable cedi, and the Bank of Ghana's dovish monetary policy.

Post-election consumer activity is already rising, with mobile money transactions hitting a record 745.0 million in December 2024, significantly higher than July’s 678.8 million.

While inflation influences transaction values, the pace of growth surpasses inflation rates, signaling a consumer recovery. Fitch Solutions expects lower inflation and reduced debt servicing costs in 2025 to further support spending growth across both essential and discretionary sectors.