In spite of a broader slowdown in the economy, Ghana’s ICT sector has seen high double-digit growth over the past 12 months, supported by new infrastructure and value-added mobile services.
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Higher levels of infrastructure investment in the coming months should help Ghana’s construction industry rally after a slow start to 2016, although rising costs risk squeezing profit margins.
Plans to launch a commodities exchange and begin trading derivatives should help strengthen links between Ghana’s capital markets and the agriculture sector, to the benefit of local producers.
Moves by Ghana to expand port capacity are helping to reduce processing times and costs, although congested intermodal connections still limit throughput.
The start of new gas production in Ghana has significantly improved the prospects for long-term growth in the country, although efforts to exploit domestic reserves for local power generation faced a minor setback earlier this year.
Market reforms to reduce fragmentation and improve solvency, alongside the gradual expansion of bancassurance, should improve the medium- and long-term prospects of Ghana’s insurance industry.