The relatively few studies conducted on fertility differentials in Ghana have not controlled for the effect of important demographic variables, such as age at first marriage and current age of respondent. This paper attempts a multivariate analysis of the relationship between cumulative fertility and age at first marriage, level of education, religion, form of marriage and residence of husband. Data drawn from a census sample survey in 1971 include 72,816 currently married females aged 15–49 years. Age at first marriage was inversely related to cumulative fertility. The differentials were more pronounced for older women. Among the older women, the differentials were larger for rural than urban women. There were also significant fertility differentials associated with level of education, religion and form of marriage. Husband’s residence was a poor predictor of cumulative fertility. As a policy measure, it is suggested that priority be given to providing young women with more education or employment opportunities as an alternative to early marriage.