Ghana

In late July Ghana held an international bond sale, raising dollar-denominated funds for the second time since 2007, when it became the first country in sub-Saharan Africa to do so. The yield the second time around was higher than some recent issues for peer countries in Africa, but the sale was oversubscribed and Ghanaian officials consider that an encouraging signal.

Although the country has a comparatively robust standard of health care, the Ghanaian government has received growing calls to raise sector spending and reform the medical system. Access has improved in recent years, but non-governmental organisations (NGOs) are pushing for more public resources to help Ghana achieve its health goals.

Following moves by Ghana’s regulator to improve capital requirements across the financial industry, with hikes in recent years for universal banks and non-bank financial institutions, the microfinance sector is now slated for an increase, prompted in part by a spate of recent lender failures that led some savers to withdraw their holdings.

One of the beneficiaries of growth in Ghana’s construction sector has been the metals industry, which has recently been the target of investment. While manufacturers face challenges – including uncertain supply of inputs and competition from imports – continued economic expansion is expected to drive demand for these locally made goods.

The launch of the first phase of operations at the Bui dam hydroelectric project in May marked a key step forward for meeting Ghana’s rising demand for electricity.

A government drive to make technology more accessible across Ghana by expanding the ICT infrastructure has opened the door for international investors to increase their presence.