Mining and quarrying, excluding oil and gas, accounted for 2.7% of Ghana’s real GDP in 2011, having grown 19% that year. The country has been producing higher levels of many minerals, including bauxite, silica, coltan, gold and manganese. Gold in particular has been a major boon to the sector given the investor flight to gold that occurred in the wake of the global financial crisis. Indeed, gold...
Ghana Energy
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Economic update | Ghana: Powering up
18 Jun 2012
Aiming to sustain its impressive economic growth of recent years, Ghana is increasingly focusing on improving its electricity infrastructure. Rising demand, together with inconsistent input supply, is putting pressure on the government and key players to bolster the country’s production and transmission capacity.
Annual figures for Ghana’s nascent hydrocarbons sector – which has spurred a wave of capital spending in the country in recent years – have come in for 2011, bringing with them mixed news. While production levels fell short of expectations, output is expected to rise closer to targets within the next 18 months as technical adjustments begin to pay off.
Economic update | Ghana: Gas for growth
9 Apr 2012
Encouraged by the rapid development of its nascent oil sector – which began production in record time and helped push GDP growth up to 13.6% in 2011 – Ghana is hoping to cash in equally as quickly on its natural gas reserves but is still navigating the sizeable infrastructural hurdles that need to be overcome in the short term.
Economic update | Ghana: Moving upstream
13 Dec 2011
For a country that a few years ago was pumping less than 1000 barrels of oil per day (bpd), Ghana’s upstream oil and gas industry has undergone a massive change. As it begins only its second year of production, Ghana’s oil segment is poised to earn GHS1.24bn ($827.85m) in revenue in 2012, while accelerating activity in the gas sector in the coming months will help improve both the sustainability of the hydrocarbons industry as well as the country’s balance sheet.
Economic update | Ghana: Rising to the challenge
10 May 2011
An economy in full growth brings myriad benefits to a country but does have the potential to strain existing resources and infrastructure – as Ghana is finding out. Increasing urbanisation, combined with a rise in primary sector activity and planned industrial expansion have emphasised the need for additional electricity generation capacity in Ghana, prompting the government to adopt a multi-pronged approach to boost supply.