Ghana's private sector era is here: PwC urges businesses to adapt and thrive

Ghana's business environment is entering a new era where the private sector is taking the lead, and companies that adapt quickly will be the ones to reap the rewards. That is the message from Vish Ashiagbor, Country Senior Partner at PricewaterhouseCoopers (PwC) Ghana, who says the country is at a critical turning point.

Speaking at the Welcome Reception of the UK-Ghana Trade & Investment Summit 2026 in Accra, Ashiagbor told journalists that while some businesses may see the current pace of economic activity as slow, this is actually a sign of transition. Ghana is shifting from government-led business towards a stronger private-sector-driven economy, and that is good news for growth.

“My view is that things may appear slow, but that is because we are at an inflexion point,” he explained. “There are processes that need to change. There are relationships that need to change. There are new relationships that need to form. There are new markets that need to be explored.”

What does the shift to a private-sector-led economy mean for Ghanaian businesses?

Ashiagbor stressed that the move towards a private-sector-led business environment is a positive development for Ghana's economy. However, it comes with new demands. Companies must reassess their internal processes, build new partnerships, strengthen existing ones, and explore fresh markets to stay competitive.

“For us at PwC, it is useful because it allows us to get a 360 view of the ecosystem of the business environment in Ghana, and also to share our thoughts,” he said, explaining why PwC signed on as lead sponsor of the Welcome Reception.

The event brought together small and medium-sized enterprises, larger businesses, and policymakers, offering a full picture of Ghana's evolving business landscape.

Bank of Ghana expected to hold policy rate steady

On monetary policy, Ashiagbor said he expects the Bank of Ghana's Monetary Policy Committee (MPC) to hold the policy rate at its current level. He cited recent comments from the central bank's Governor and the latest inflation figures as key factors influencing that outlook.

“My expectation would be for the rates to hold,” he said, adding that signals from the central bank suggested emerging risks warrant caution.

Despite that cautious note, Ashiagbor maintained that the broader business environment remains positive. He expressed hope that current conditions would be sustained and urged businesses to prepare to capitalise on the opportunities emerging from the changing economic landscape.

UK-Ghana summit moves from talk to concrete investment

The UK-Ghana Trade & Investment Summit 2026, organised by the UK-Ghana Chamber of Commerce (UKGCC), is being held under the theme: “A Decade of Trust, A Future Always On: Scaling the UK-Ghana Growth Partnership.” The three-day event marks the UKGCC's 10th anniversary.

UKGCC Executive Director Adjoba Kyiamah said the summit aims to move the UK-Ghana relationship beyond government-to-government discussions towards concrete investments and long-term industrial projects.

Day One saw delegates engage with the Association of Ghana Industries (AGI) on key investment areas, alongside the PwC-hosted reception. Day Two features a deal room showcasing investment-ready projects from Ghanaian businesses, giving potential investors and companies a direct platform to connect.

The summit wraps up on Friday, September 25, 2026, with a golf tournament where further business engagements and investment opportunities are expected.

“We believe that a strong UK-Ghana Growth Partnership must create commercial value in both directions. It must support UK investment into Ghana while enabling competitive Ghanaian companies to expand internationally, using the UK as a launchpad,” Kyiamah said.

Frequently asked questions

Why is Ghana's economy shifting towards the private sector?

Ghana is gradually reducing its reliance on government-led business activity. The private sector is taking on a greater role in driving economic growth, which experts like PwC see as a positive and dynamic development for the country's long-term prosperity.

What should Ghanaian businesses do to adapt to the new era?

Businesses should review their internal processes, build new relationships, strengthen existing partnerships, and explore new markets. Adaptability is key to taking full advantage of the opportunities emerging from the changing economic landscape.

Will the Bank of Ghana change its policy rate soon?

According to PwC's Vish Ashiagbor, the expectation is that the Monetary Policy Committee will hold the policy rate at its prevailing level, based on recent signals from the central bank and current inflation trends.

What is the UK-Ghana Trade & Investment Summit achieving?

The summit is moving the UK-Ghana partnership beyond government-level talks towards concrete investments and industrial projects. It features a deal room for investment-ready projects and brings together businesses, investors, and policymakers to create commercial value in both directions.