Ghana

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.

Ports in Ghana are struggling to keep up with the demands of the expanding economy, which are being fuelled by the rapidly developing energy industry and increasing domestic consumption. However, new investments being channelled into the maritime services sector should ease some of the pressure.

Several issues debated during Ghana’s 2012 campaign season regarding education funding are expected to be revisited in 2013. The cost and quality of education ranks as a high priority for citizens, and as the new government articulates its policy, it will be seeking to balance that priority with fiscal discipline.