What impact have the drop in global oil prices and the rise in US shale production had on exploration and production in West Africa?
Ghana
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Increased oil production in Ghana is boosting energy sector revenues and helping shore up finances after three years of sluggish economic growth and persistent budget shortfalls.
Efforts to ramp up infrastructure development in Ghana received a boost in June and July with news that China will channel $19bn of financial support into the country’s project pipeline.
Ghana has stepped up efforts to bolster its fast-growing ICT sector with the signing of a new deal strengthening cybersecurity protections.
The rollout of new micro-insurance products in partnership with mobile operators is allowing Ghana to deepen penetration rates, something that has historically proven tricky due to its large informal sector and a lack of consumer awareness.
Economic update | Ghana contemplates ending IMF credit agreement as scheduled amid improving fiscal balance
31 May 2017
Lower inflation figures and higher growth forecasts in Ghana are raising the prospects for a stronger economic recovery over the coming year, prompting the government to reiterate its commitment to deficit reduction targets – although much work remains to be done.