Ghana

The influx of capital and burst of growth that followed Ghana’s discovery of oil in 2007 led to a construction boom in 2011-12. Sourcing materials, however, has been problematic and in 2012 the World Bank reported that Ghana needs to spend $26bn on infrastructure, including basic road, housing and utilities upgrades, to support economic growth. As Ghana continues to channel new-found oil revenues...

Ghana’s pursuit of middle-income status, bolstered by developments in the oil and gas sector, has put a corresponding strain on its transport networks, particularly at ports and airports. The government has committed to expanding facilities at airports to better meet the demands of a rising number of flights and an increasing amount of passengers. The first step of the proposed improvement works...

With the economy growing at record rates, the authorities are working to keep pace with rising demand for water, power and sanitation. Compared to many neighbouring countries, Ghana’s utilities are in healthy standing, though the sector has not been without problems. The country’s water and sanitation systems are in need of improvement; only 64% of the population had access to clean water and 15...

Often referred to as the backbone of Ghana’s economy, agriculture has traditionally been the largest sector and the biggest employer in the country, bolstered by diverse commodities and strong ties to European markets. However, agriculture’s economic contribution has dwindled as the sector has shown low growth in recent years. Its contribution to GDP fell in 2012, totalling 22.7% of GDP, compared...

Since the discovery of offshore oil in 2007, Ghana has been adapting to the new reality of its hydrocarbons economy. In 2012 production at the Jubilee field increased 15% year-on-year to reach 27.4m barrels of crude oil, the entirety of which was exported for nearly $3bn. Oil production from the Jubilee field will likely plateau at around 140,000 bpd from 2013 to 2023. Gas production is also...

While insurance penetration is still modest by emerging market standards, headline indicators are improving significantly. Over the past five years, revenue from insurance premiums has averaged 32% growth, with the life segment seeing 38.1% expansion over this same period. Microinsurance is expected to be a major growth driver given the cost-sensitivity of policies. As of 2010, between 160,000...