Business confidence in Ghana strengthened in August 2025, with the index rising to 107.5 from 105.5 in June, as firms reported meeting short-term targets and expressed renewed optimism about future prospects amid improving macroeconomic conditions.
This was captured in the September 2025 Monetary Policy Report of the Bank of Ghana.
At the same time, consumer confidence remained high at 116.9, though slightly below the 119.2 recorded two months earlier, reflecting continued resilience in household sentiment despite modest softening.
The latest surveys by the Bank of Ghana show that both business and consumer confidence continue to trend upward, in line with the Purchasing Managers’ Index (PMI), which inched up to 50.8 in August from 50.2 in July, signalling improved business activity driven by higher new orders.
Some market watchers say this positive trajectory may gain further traction following the central bank’s recent 350-basis-point reduction in the monetary policy rate to 21.5 percent, a move expected to ease borrowing costs, spur credit to the private sector, and reinforce confidence heading into the last quarter of the year.
Analysts maintain that sustaining the momentum will require continued fiscal discipline, lower input costs, and steady access to finance for growth-oriented firms.
