Over the next 12 years Ghana aims to move from an off-the-beaten-track locale to a major player in African tourism. Ambitious plans are afoot to increase visitor numbers five-fold by 2027, capitalising on the country’s natural beauty, cultural heritage, hospitality, and safety and security. The World Travel & Tourism Council forecasts that the tourism sector will grow by an annual average...
Growing year-on-year as a contributor to the economy, Ghana’s construction sector is increasingly dynamic and led by private sector participants. While parts of the real estate market have slowed in recent years, demand for low-cost housing remains as strong as ever. Government investment is a major driver of growth, with a substantial pipeline of projects in transport infrastructure in...
While Ghana boasts a number of advantages for manufacturers, including access to a 300m-person regional market, a host of raw material inputs and competitive labour costs, 2014 was a particularly challenging year for the industrial sector. In large part this was due to a declining currency, power shortages, limited credit and high overhead costs. Nevertheless, industry still accounts for 28.4...
Dynamic and competitive, Ghana’s telecoms sector is one of the brightest spots in an economy that has had a bumpy ride over the past two years. Demand for mobile services in particular is resilient and rising. As of June 2015, Ghana had a total of 32.36m mobile subscribers, indicating theoretical market penetration of 119.41%. The market is appealing, as evidenced by the strong international...
Rapid economic development, demographic growth and regional dynamics have put increasing pressure on Ghana’s transportation system over the past decade, and it has at times struggled to keep pace. Rather than allow the transportation sector to become a victim of the country’s success, the government has pushed forward infrastructure development projects, with the private sector encouraged to...
Even as Ghana’s oil and gas industry continues to expand, the agricultural sector remains a vital contributor to economic activity, employing more than half of the working population. The country cultivates a rich array of staples and cash crops, and is the second-largest producer worldwide of cocoa. The sector experienced a year-on-year growth rate of 4.6% in 2014, according to the Ghana...
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