Ghana: 10th most politically and economically stable African country
The Africa Country Instability Risk Index (ACIRI) annually evaluates 48 sub-Saharan African countries in relation to political, economic, and security risks.
ACIRI groups African countries south of the Maghreb into stability categories.
They range from ‘Safe’ to ‘Red Watch’, based on the countries’ aggregate risk scores, which measure political, economic, and security risks.
ACIRI employs a mixed quantitative and qualitative framework measuring African countries’ vulnerability to political, economic and security shocks, which can come from within countries or from regional or international sources.
ACIRI’s methodology aggregates macro-risk indicators across four categories, which include Leadership and Governance (40 per cent), Economy (30 per cent), Geopolitics (15 per cent), and History (15 per cent), producing a 100-point scale where higher scores indicate greater instability.
ACIRI classifies countries as: Red Watch (70+), Warning (60–69), Critical (50–59), Vulnerable (40–49), Stable (30–39), and Safe (below 30). Ghana is ranked #10 of 48 African countries in ACIRI’s 2025 rankings and judged to be ‘Stable’.
This makes Ghana one of the best performing countries in West Africa, behind only Cape Verde, Liberia and Senegal, indicating comparatively high political, economic and security stability and safety.
Compared to 2024, Ghana registered modest gains in 2025, unlike some of the country’s neighbours, such as Nigeria.
The latter was beset with coup rumours as well as subsidy removal protests, although the government’s stabilisation efforts have kept the outlook cautiously positive.
Democratic rule
Ghana is ranked as a top-10 most politically and economically stable African country due to its long-standing commitment to democratic rule, including peaceful transitions of power since 1992.
The country’s political stability is supported by strong institutions, robust civil society, and a stable economy driven by natural resources like gold, cocoa, and oil.
Transition from military rule in 1992 marked the start of a new democratic era, whose current stability contrasts with its past, which included frequent military regimes and political instability.
Since 1992, leaders have respected term limits and transferred power democratically, a practice institutionalised over time and crucial for the country’s long-term stability.
Ghana’s political stability stems from three main features of the country’s political history and post-1992 constitutional arrangements.
First, Ghana has developed workable and robust democratic institutions, with relatively ‘free and fair’ multi-party presidential and parliamentary elections since 1992.
The last three decades have been characterised by relatively peaceful and democratic transfers of power between presidents and parliaments.
Second, Ghana has a resilient electoral democracy, with participatory decision-making and what many observers regard as a consolidated democracy.
Unlike some of its neighbours, Ghana is seen to be relatively immune to democratic backsliding, although some concerns have been expressed in this regard by international observers such as America’s Freedom House and Sweden’s Varieties of Democracy.
Third, Ghana has a free media and a strong civil society, which have helped to further democratic practices over the past decades.
An effective civil society contributes to political stability by providing a check on power and fostering accountability, and Ghana’s civil society has shown itself to be relatively effective in this regard.
The forthcoming constitutional review will be an interesting indication of the extent to which civil society helps deliver good governance in Ghana.
The Constitutional Review Committee, chaired by Professor H. Kwasi Prempeh, spent many weeks meeting with civil society leaders and activists.
The Committee’s report will be presented to the President soon, probably by the end of 2025.
Economic stability
Ghana’s economic stability is a crucial component of the country’s overall political, economic, and security position.
The country’s economy is highly dependent on major natural resources such as gold, cocoa and oil for foreign exchange - resources that have long fuelled economic growth and contributed to Ghana’s overall prosperity.
Given the volatility of the world economy, consequential to, among other things, President Trump’s wide-ranging tariffs, much hinges on the government’s 24- Hour Economy strategy.
Ghana’s tariffs position is, however, much improved as the United States government has lifted the imposed 15 per cent tariff on Ghana’s cocoa and a wide range of agricultural products, offering much-needed relief to one of West Africa’s most important export economies.
The government aims to boost productivity and create numerous jobs by extending economic activity beyond traditional hours, that is, 9am-5pm, which some see as conforming to a colonial-era logic which is no longer relevant today.
While it is too early to tell if the 24-Hour Economy strategy is successful, the initiative's focus is on key sectors including agriculture, manufacturing, and logistics.
The government also has plans to open the major ports to round-the-clock operations, as well as extend services such as passport and driving licence offices to a 24/7 schedule.
In addition, the 24-Hour Economy strategy includes specific initiatives such as ‘Grow 24’ for agriculture and ‘Make 24’ for manufacturing, supported by a $4 billion investment.
The overall success of the strategy will depend both on effective implementation and a high level of collaboration between public and private sectors.
What lies ahead for Ghana in 2026? ACIRI notes that Ghana experiences relatively low level, but persistent risks, around leadership, governance, and security.
The latter is particularly concerning in parts of the country affected by jihadist insurgencies, while leadership and governance concerns could contribute to democratic backsliding.
Tailored policy responses and resilient leadership will be crucial for sustaining stability and unlocking further Ghana’s demographic and economic potential.
The write is an Emeritus Professor, London Metropolitan University, UK
