Ghana

An economy in full growth brings myriad benefits to a country but does have the potential to strain existing resources and infrastructure – as Ghana is finding out. Increasing urbanisation, combined with a rise in primary sector activity and planned industrial expansion have emphasised the need for additional electricity generation capacity in Ghana, prompting the government to adopt a multi-pronged approach to boost supply.

As a result of limited global integration, a strong reliance on domestic deposits and a risk-averse regulatory framework, Ghana’s banking sector has weathered the global financial crisis largely unscathed. In fact, most of the sector’s key indicators improved over the course of 2010.

On the back of sound macroeconomic indicators – such as increasing purchasing power, stabilising inflation and projected near double-digit GDP growth – Ghana’s emerging middle class is looking to buy property, giving the country’s real estate sector a welcome fillip. Although the entire real estate market is growing, demand is greatest for residential property. According to estimates from the Ghana Investment Promotion Centre, the segment has been registering transactions worth around $1.7bn per year over the past decade.

After months of anticipation, Ghana has joined the ranks of oil-producing nations. As the oil pumps get up to speed, so are the West African country’s plans for the newfound income.