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.
Economic development continues to drive Ghana’s need for expansion and renovation of transport infrastructure. With ongoing offshore activities and an increasing number of construction projects across the country, the government recognises the need for reliable transport services. As the country works to situate itself as a key gateway to West Africa and with an economy set to grow more...
The Ghanaian economy is well positioned to accelerate growth, with several key factors likely to encourage expansion in the coming years.
Rapid economic development, demographic growth and regional dynamics have put increasing pressure on Ghana’s transportation system over the past decade, and it has at times struggled to keep pace. Rather than allow the transportation sector to become a victim of the country’s success, the government has pushed forward infrastructure development projects, with the private sector encouraged to...
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.
As Ghana’s growth has accelerated in recent years, the government has sought to boost investment in all modes of transport through public and private resources. Unlike many emerging markets, Ghana’s transport backbone covers every region of the country, with heavy concentration in the most economically developed areas, such as around the capital, Accra. Oil earnings have stimulated Ghana’s...
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