Private investment has been key to transportation infrastructure in Ghana for over a decade, but implementation of public-private partnerships (PPPs) and related legislation has been slow to materialise. In 2011 the World Bank reported Ghana faced an infrastructure deficit that required $1.5bn in investment per year over the next decade. Aware...
Economic development continues to drive Ghana’s need for expansion and renovation of transport infrastructure. While forecasts for economic growth have been reduced, the IMF still expected its economy to grow at a rate of 4.5% in 2016, compared to 3.9% in 2015. With ongoing offshore activities and an increasing number of construction projects...
Increasing efficiency at its ports is key for Ghana’s objective of becoming a regional trade hub. The country currently ranks 154th on the World Bank’s 2017 Doing Business index in the trading across borders category, compared to neighbouring Côte d’ Ivoire at 150th and Togo at 117th. It is estimated that the import clearance process in Ghana...
Lending to small and medium-sized enterprises (SMEs) in Ghana has slowed in late 2016. In light of rising non-performing loans (NPLs) in 2015, banks have slimmed down their lending books significantly. With interest rates for blue-chip borrowers in established sectors of the economy surpassing 30%, rates for SMEs can often go far higher. This...
The Payment Systems Act 662 of 2003 set Ghana on a path towards a system of electronic transactions. The cash-lite initiative envisions a transition from a cash-dependent economy to one that is heavily reliant on bank cards, mobile money, internet payments and other forms of modern cashless transactions. Since the act was passed, the Bank of...
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