As Africa’s largest miner of gold, the world’s second-largest producer of cocoa and one of the continent’s most promising hydrocarbons players, Ghana has seen healthy growth in recent years. The country weathered the Covid-19 pandemic better than many of its regional and income-level peers, and is forecast to record significant GDP growth in...
The banking sector has played a key role in mitigating the effects of the Covid-19 pandemic on small and medium-sized enterprises (SMEs). Banking authorities and institutions moved swiftly to ease the economic pressure on SMEs and other entities in the early months of the crisis. In late March 2020 interest rates were cut by two percentage...
Ghana is looking to leverage financial technology ( fintech) to boost participation in the banking sector, utilising digital services that are accessible and affordable to improve customers’ experiences. High levels of mobile phone penetration have facilitated this movement; Ghana boasts West Africa’s highest unique subscriber penetration rate...
For many years Ghana has been one of Africa’s top investment destinations, ranking fifth on the continent for foreign direct investment (FDI) inflows between 2011 and 2020, according to World Bank data. The organisation’s figures show the country receiving $32.5bn in FDI over the period, the second most in West Africa after Nigeria, with $45....
Ghana achieved independence from British colonial rule in 1957, making it the first African country to do so. After enduring decades of post-independence instability and intermittent military rule, the country is now widely regarded as a stable democracy, a regional economic powerhouse and a key continental player.
In December 2020 Ghanaians went to the polls to elect a president and members of Parliament. The incumbent head of state and leader of the ruling New Patriotic Party (NPP), President Nana Akufo-Addo, was re-elected in the first round of voting over former President John Dramani Mahama, the candidate for the main opposition party, the National Democratic Congress (NDC). This...
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