Ghana’s economy is expected to withstand mounting global pressures despite rising energy costs and heightened market uncertainty, according to the Group Chief Executive Officer of Absa Group, Kenny Fihla.
He said policy measures implemented in recent years have positioned Ghana among a select group of economies better equipped to navigate the current wave of global volatility.
Speaking on The Point of View on Channel One TV with Bernard Avle, Fihla maintained that Ghana’s macroeconomic adjustments and natural resource base will help cushion the impact of external shocks, even as global conditions remain fragile.
“Ghana has taken all the measures that are necessary to position itself relatively well,” he said, stressing that the country is among a few likely to weather turbulence driven by rising energy prices and unpredictable global markets.
He pointed to Ghana’s resource strength as a key advantage, noting that “as people fear global challenges and turmoil, they tend to move their capital to assets that they consider safe, like gold,” adding that Ghana stands to benefit significantly from this trend.
Fihla also highlighted emerging opportunities in global energy markets, as countries and firms seek diversified sources of crude oil — a shift he said Ghana is well positioned to capitalise on.
“I think on balance, Ghana will do exceptionally well,” he added, while cautioning that risks remain, particularly the potential spillover of higher energy prices into inflation.
His remarks come amid escalating geopolitical tensions that have prompted the International Monetary Fund to downgrade global growth projections.
Despite the uncertain global outlook, Ghana’s growth forecast has been maintained at 4.8 percent, reinforcing confidence in the country’s recovery trajectory.
