Ghana

While small and medium-sized enterprises (SMEs) in many ways constitute the backbone of the economy, they continue to face challenges, one of the largest of which is access to finance. Alongside initiatives to improve the availability of bank credit (see Banking chapter), the authorities are moving to create an equity market for SMEs with reduced...

The insurance market may lose some players in the next few years, if a plan headed by the National Insurance Commission (NIC) to encourage consolidation through minimum capital requirements is successful. The list of leading insurers is also expected to change after some potential mergers and acquisitions. “Five of the big companies control about 65...

The key theme of the 2012 budget – the first to be prepared following the beginning of Ghana’s commercial oil production – is infrastructure spending, with a particular focus on transport and energy. It encompasses agricultural, water, health and education facilities as well. While the government initially made efforts to ensure that spending...

THE COMPANY: HFC Bank Ghana was incorporated in May 1990 as the Home Finance Company under the Companies’ Act 1963 (Act 179), and obtained its licence as a non-bank financial institution in August 1994. The bank, which commenced operations as a mortgage finance institution in July 1990, has since evolved...

Mortgages remain underdeveloped in Ghana, with the segment facing problems such as a lack of new housing supply, complications surrounding land ownership and a dearth of interest from banks due to issues such as the disconnect between the long-term nature of mortgage investments and Ghana’s mostly short-term banking deposit structure. A relatively...

THE COMPANY: Fan Milk International was founded in 1960 in Ghana by Danish entrepreneur Erik Emborg. In addition to Ghana, Fan Milk International operates in six other West African countries, producing dairy products, juice and juice drinks. Fan Milk has successfully distributed its products to the final...