Ghana’s downstream sector is going through a period of flux, with the most significant change of recent months coming in June 2015, when the government decided to give more control to market participants to set prices for consumer fuels. The gradual removal of control over downstream markets has long been in the making – and is in line with...
Once known as the Gold Coast, Ghana is a key player in the international gold market and Africa’s second-largest producer. In 2013, 86.6% of export revenues from the mining sector came from gold, making the metal the top export and source of foreign currency. Gold generated $4.2bn in 2013, compared with $3.2bn from oil and $1.3bn from cocoa. Growth has been hampered in recent years by external...
Ghana’s energy sector is both young and growing fast, with a second major oil and gas field set to commence production in 2016 and a third to follow soon thereafter. Legal and regulatory regimes are still being established, while improvements are being made to infrastructure to catch up with a rise in demand. This will help to remove obstacles to the use of domestic energy supply to speed up...
Situated on the Gulf of Guinea in West Africa, Ghana’s natural resource wealth and status as a stable democracy have helped make it a prominent player in the region. It is the world’s second-largest exporter of cocoa, behind Côte d’Ivoire, and one of the continent’s largest gold producers. Recently discovered reserves of oil and gas have powered the economy to double-digit growth in the past decade.
New capacity and improved supplies of feedstock could mark the end of load shedding in Ghana, spelling good news for manufacturing and service industries alike.
In spite of broader global headwinds, the oil and gas industry in Ghana is targeting a substantial increase in production over the coming years.
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