Adnan Adams Mohammed
In spite of global trade tensions, some economists have reposed confidence in the country’s fragile economy, which has a history of vulnerability to external shocks.
Among such is the Government Statistician, Dr. Alhassan Iddrisu, who has said despite external headwinds, including the ongoing global tariff war, Ghana’s economy continues to show signs of resilience.
According to provisional data from the Ghana Statistical Service, the economy expanded by 5.3% in the first quarter of 2025, up from 4.9% recorded during the same period in 2024. At a press briefing the Government Statistician explained that the latest figures suggest that Ghana has, so far, managed to shield its economy from the adverse effects of global trade tensions.
“We are all aware of what is happening. All other things being equal, one would have assumed that because of the trade war and trade tension, it should have a significant dampening effect on growth. What we are seeing is that the numbers we are seeing for the first quarter of 2025 in terms of growth don’t seem to suggest that the impact of the trade tensions is very significant on Ghana but this is early days yet. Data shows so far Ghana has been resilient and robust in terms of absorbing the shocks with regards to the trade tensions,” he said.
Meanwhile, a Managing Partner at policy advisory firm Konfidants, Michael Kottoh, has indicated that, amid rising global trade tensions, Ghana has a unique opportunity to position itself as a strategic export hub, particularly within the African Continental Free Trade Area (AfCFTA).
Speaking at the 2025 Citi Business Forum themed “The Global Tariffs Dispute: Navigating Ghana’s Recovery Strategy,” and held in Accra on Thursday June 12, he noted that while trade wars between major economies pose risks, they also open doors for smaller economies like Ghana to capitalise on emerging supply chain gaps.
“In terms of opportunities, we could seize U.S. niche advantages while rivals pay higher tariffs,” he noted. “Lesotho has been crying a lot, South Africa is complaining a lot—we could potentially, using AfCFTA, attract some of that export.”
A Pathway to Garment Sector Growth
Kottoh emphasised the potential for Ghana to expand its garment and textile sector by absorbing production contracts that are under pressure in other African nations.
Countries like Lesotho, which have been struggling with shifting global trade conditions, could see some of their export-oriented manufacturing relocate to Ghana, he suggested.
“Lesotho could relocate some of those contracts to Ghana,” Kottoh explained. “So these are potential advantages—but we need to be strategic and understand which product lines, which value chains, which alliances and partnerships are required to take advantage of these.”
Strategic Planning Is Key
While the global tariff disputes have created disruptions in traditional trade routes, Kottoh cautioned that Ghana’s ability to benefit from these shifts will depend on clear strategy, sector-specific focus, and targeted partnerships across supply chains.
“We need to be strategic and understand which product lines, which value chains, which alliances and partnerships are required to take advantage of these.”
Disjointed Africa’s trade policy response
Consequently, the Chief Executive Officer of the African Centre for Economic Transformation (ACET), Mavis Owusu Gyamfi, is worried over Africa’s lack of a coordinated response to global economic disruptions, particularly in the wake of tariff hikes initiated by the United States.
Also, speaking at the 2025 Citi Business Forum under the theme “The Global Tariffs Dispute: Navigating Ghana’s Recovery Strategy,” she highlighted that other regions, notably Asia, responded swiftly and strategically to the recent tariff increases announced by U.S. President Donald Trump.
She questioned Africa’s lack of a unified and proactive stance in contrast to the Asian response, noting that despite not having a formal bloc like the African Union or a framework like the African Continental Free Trade Area (AfCFTA), Asia was able to organise an effective strategy.
She expressed disappointment in Africa’s silence and lack of coordination in the face of rising global economic tensions. She urged the African continent to approach global economic shocks with a collective strategy rather than panicking.
“Where is our common voice? Remember, Asia is not a bloc. It doesn’t tout to be AU or AfCFTA or any of the things we are so proud about. It doesn’t do it. It doesn’t have a theoretical framework that it is proud of, but it had a structure for implementation in a crisis.
“The thing that disappointed me the most in all of this was that Africa forgot why we set up the AfCFTA in the first place. Africa forgot the processes we have in place for the African Union. In fact, Africa forgot we had the AFDB because it wasn’t until a week ago that I heard an AFDB statement on the tariffs,” she stated.
