Ghana’s financial sector staged a significant recovery in 2025, with total assets reaching GH¢647.25 billion, representing roughly 45.1% of the nation’s GDP, according to the latest Financial Stability Review.
The milestone comes on the back of a strong domestic economic performance in which real GDP growth accelerated to 6.0%, surpassing the 5.8% recorded the previous year.
Launching the review in Accra, the Second Deputy Governor of the Bank of Ghana, Matilda Asante-Asiedu, said this year’s theme — “From Stress to Stability: Staying on Course” — reflects the financial sector’s resilience following years of economic turbulence and debt restructuring pressures.
“The theme reflects how the financial sector has navigated through the twin stresses — the macroeconomic shocks and the debt restructuring risks over the past few years — to the current state of stability that we enjoy,” she said.
“It also reflects the resolve of the financial sector regulators to stay on course of stability over the medium to long term.”
According to the report, Ghana’s economic gains were largely driven by strong growth in the services and agriculture sectors. Inflation also declined sharply from 23.8% in December 2024 to 5.4% by December 2025, supported by tight monetary policy measures and a stabilising cedi.
Sector-by-Sector Recovery
The report highlighted broad-based recovery across the country’s major financial segments.
The banking industry recorded improved financial soundness, strong profitability and sustained liquidity throughout the year. However, the Bank of Ghana said Non-Performing Loans (NPLs) remain elevated, prompting fresh directives aimed at strengthening credit risk management.
Mrs Asante-Asiedu noted that the financial sector had become more resilient overall.
“The financial sector was more resilient, bolstered by strong profitability and solvency positions across all the four financial industries,” she said.
The Ghana Stock Exchange also emerged as Africa’s second-best performing market in 2025, supported by gains in financial stocks and improving investor confidence.
Meanwhile, the pensions industry posted what the report described as “remarkable” growth, driven by the expansion of private pension schemes and stronger enforcement measures against defaulting employers. Portfolio diversification also shifted increasingly toward equities amid improving macroeconomic conditions.
The insurance sector likewise recorded steady revenue growth, supported by high solvency levels and the implementation of new policies, including compulsory local insurance for commercial cargo.
