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 Energy
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Chapter | Energy & Utilities from The Report: Ghana 2016
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.
Chapter | Energy & Utilities from The Report: Ghana 2014
Roughly seven years after the discovery of oil, Ghana’s hydrocarbons sector has seen significant growth in terms of both production and infrastructure, yet the industry is still very much a work in progress. New projects are being ramped up to develop the sector, including for the downstream segment. Ghana’s proven crude oil reserves were estimated at 660m barrels as of January 2013, which...
Ghana has developed a reputation as a robust and stable democracy, and with a storied legacy of pan-African initiatives it has long punched above its weight diplomatically. While the recent oil boom following the discovery of the offshore Jubilee field in 2007 has helped to fuel GDP growth as much as 14% over recent years, it is now projected to slow to a more modest 4.5% in 2014.
Vast mineral resources have served as a primary driver of Ghanaian economic growth in recent decades, and 2012 was another banner year for the mining industry. Ghana was the world’s eighth-largest producer of gold in 2012. At the same time, production of bauxite, a key aluminium property, increased, while deposits of diamonds and manganese continued to attract international investment. Overall,...