Ghana continues to be one of the most stable countries in sub-Saharan Africa and has developed substantially over the years. Now one of Africa’s fastest-growing economies, the country is starting to move away from traditional resource dependency. However, it faces the challenge of ensuring the widest benefit from that expansion, given its growing and increasingly urbanised population.
Industry is at the centre of government plans to transform the economy from one reliant on its resource base to one driven by value-added exports. The current administration has laid out a series of plans to achieve these goals and build strong value chains around key industries, announcing a number of policies designed to support the industrial agenda and expand production. The performance of...
Since assuming power in January 2017 the administration of President Nana Akufo-Addo has moved to rein in fiscal spending, industrialise rural regions and improve the business environment in order to jump-start economic growth. The government has brought down the fiscal deficit and freed up capital spending for priority projects, and Ghana’s economic prospects appear strong for 2018.
Ghana’s retail sector has grown significantly in recent years, attracting a swathe of international retail chains and brands. This is thanks to a growing middle class, a largely young and urban population and a relatively underdeveloped formal retail market. With recent changing economic conditions, including high inflation and interest rates, limited and irregular power supplies, currency...
With prices on stronger ground in global markets, mining companies are starting to display renewed interest in gold projects. In Ghana this precious metal represents more than 80% of mining activities, and an uptick in gold prices has led to a flurry of activity, with companies signing agreements, initiating production and seeking land for exploration. While a raft of fiscal changes aimed at...
The Ghanaian economy is well positioned to accelerate growth, with several key factors likely to encourage expansion in the coming years.
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