Ghana

With the elections now largely over, barring the final resolution of a handful of court cases contesting the results, Ghana’s government has a backlog of decisions to make, and one of the sectors that will be affected by this is mining.

Ghana’s leap into the ranks of oil-producing countries happened in record time, taking just 42 months from discovery to production. That speed brought with it complications that have necessitated a revision of forecast output. However, the bulk of those hiccups appear to have passed and the outlook for 2013 is looking encouraging, with the flagship Jubilee field set to hit maximum targeted production and new commercial discoveries about to come online.

With the presidential elections largely concluded, save a few outstanding legal challenges, 2012 proved to be a year in which Ghana gave a comparatively strong economic performance, bolstered by stable commodity prices, continued oil production and a sizable capital campaign in both the gas and electricity sectors. However, structural weaknesses will need to be addressed for the country to maintain its upward trajectory.

A rise in purchasing power and a shift towards formal retail space is helping burnish a positive outlook for retailers in Ghana. Mall retailing is still in its infancy, particularly outside the capital, but international brands and developers are increasingly enthusiastic about the country.

Tema, Ghana’s largest port, has made global headlines recently over the “crippling disruptions” caused by an impounded Argentinean military ship blocking a busy berth. The obstruction has come at an inopportune time for Tema, where activity should be ramping up to the peak pre-Christmas period. It also highlights the importance of ongoing efforts to enhance capacity and efficiency both at Tema and Takoradi, the country’s second-largest port.

The arrival of a sixth operator in the already competitive Ghanaian mobile telecoms market spells good news for customers keen to take advantage of aggressive pricing policies and product innovation.