Ghana Economy

The guide contains information on some of the leading hotels in Ghana, and contact details for government ministries, embassies and business services, alongside useful tips for first-time or regular visitors.

As in many West African countries, Ghana’s economy is strongly correlated with global commodities. Oil, gold and cocoa are the three main sources of foreign currency and income; however, price swings over 2015 and 2016 for these three resources, a strengthening US dollar, as well as domestic issues such as fiscal slippage, growing debt and mounting inflation have combined to slow the pace of...

Long one of the continent’s success stories, Ghana is the birthplace of pan-Africanism and was one of the biggest advocates for independence during the colonial period. It has since developed one of the region’s largest and most advanced markets, and has become a diplomatic and economic force in West Africa. The country benefits from a wealth of natural resources, including cocoa, gold and –...

For several years Ghana was one of the leading lights of the “Africa rising” narrative, with double-digit growth rates that ranked at one point among the highest in the world. The discovery of oil, bumper crops of cocoa and an influx of new investment sus¬tained a robust expansion of GDP. Now, however, though the fundamentals remain attractive, short-term pressures have led to a downturn....

Boasting one of the region’s largest and most advanced markets, Ghana has long been a diplomatic and economic heavyweight in West Africa. The post-colonial era saw consolidation of the country’s economy and remarkable increases in the standard of living for many Ghanaians. While an abundance of natural resources has, for the most part, underwritten these improvements, recent efforts to spur...