Ghana's construction Gross Value Added (GVA) will slow to 4.5% by 2028, according to a forecast by Fitch Solutions. This marks a decrease from the 5.2% growth projected for 2026. The construction sector's GVA grew by 3.1% in 2025, indicating a period of fluctuating growth.
The anticipated slowdown in 2027 and 2028 follows a stronger performance expected in 2026. Fitch Solutions projects GVA growth of 5.1% in 2027 before falling to 4.5% in 2028. This trend suggests a moderation in the pace of expansion within Ghana's building and infrastructure development sector.
Ghana currently holds the seventh position in Sub-Saharan Africa (SSA) for construction GVA. This ranking places Ghana ahead of regional economic powerhouses like Nigeria, Angola, and South Africa. Ethiopia leads the SSA region in construction GVA, followed by Cote d'Ivoire and Uganda.
Fitch Solutions initially projected Sub-Saharan Africa's construction GVA to grow by 4.3% in real terms in 2026. This forecast was revised downwards from earlier predictions of 4.6% in April 2026 and 5.4% in December 2025. The revisions reflect the impact of global geopolitical events, such as the US-Iran conflict, on market conditions.
Despite these adjustments, the outlook for the broader Sub-Saharan African construction market remains robust. Fitch Solutions expects the region's construction GVA to expand by an annual average of 5.1% between 2026 and 2030. This sustained growth positions SSA as the fastest-growing construction market globally.
The region's projected growth rates significantly surpass global averages. Global construction GVA is forecast to grow by 1.2% in 2026 and average 2.5% between 2026 and 2030. This highlights the strong potential and ongoing development within the African construction sector.
Latin America is expected to see the second-highest global growth in 2026, at 1.7%. The Asia-Pacific region is projected to have the second-strongest growth over the 2026-2030 period, with an average annual growth of 3.1%. These comparisons underscore the exceptional growth trajectory of Sub-Saharan Africa's construction industry.
The deceleration in Ghana's construction GVA could impact employment and investment within the sector. Decision-makers will monitor these trends to assess the need for policy adjustments. The government's infrastructure development plans will be crucial in mitigating any significant slowdown.
Investors and developers will closely watch these GVA figures for future project planning. The overall health of the construction sector is a key indicator of economic activity and national development. Continued investment in public and private projects will be essential to maintain momentum.