For more than 150 years the mining industry has been one of the key pillars of the Ghanaian economy. While it contributes a modest and – as a result of rising oil, gas and agricultural production – declining proportion of GDP, it remains a major source of government revenue, through taxation and royalty payments, and an indispensable driver of...
The Ghana Stock Exchange (GSE) ended September 2017 with the market index at 2326.09, representing a year-to-date (YTD) change of 37.71%, compared to -11.03% in the same period of 2016. The GSE Financial Stocks Index, which tracks the performance of financial stocks, settled at 2043.5, representing a YTD change of 32.23%, as compared to -12.82...
A 2016 report released by the Ghana Statistical Service estimated that businesses in the informal sector make up 62% of all commercial enterprises. Although self-employed persons are required to pay income tax, the Ghana Revenue Authority (GRA) only has 200,000 informal workers registered in its files. With limited demographic records and the...
As is the case in emerging and frontier markets the world over, for the Ghanaian capital markets to play a key role in the domestic economy, new listings of companies on the Ghana Stock Exchange (GSE) are needed. This is no easy proposition in economies where companies are frequently privately held, with family owners and investors tending to...
Generally, 2017 was a challenging year for Ghana’s accountants. In February Ken Ofori-Atta, the minister of finance, announced that over three years of off-the-books spending by the previous government had opened a GHS7bn ($1.7bn) hole in the budget, revealing the next day that the figures could be even higher.
According to Article 40 of its 1992 constitution, Ghana’s foreign policy is underpinned by a commitment not only to protecting the country’s interests, but also to establishing a just and equitable economic, political and social order more widely. This includes promoting the settlement of international disputes through peaceful norms and...
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