Purchase OBG Publications

Ghana’s retail sector has grown significantly in recent years, attracting a swathe of international retail chains and brands. This is thanks to a growing middle class, a largely young and urban population and a relatively underdeveloped formal retail market. With recent changing economic conditions, including high inflation and interest rates, limited and irregular power supplies, currency depreciation and a multiplication of taxes, sector growth may have slowed down, yet there is still room for expansion. This chapter contains an interview with Seth Twum-Akwaboah, CEO, Association of Ghana Industries.

Economic development continues to drive Ghana’s need for expansion and renovation of transport infrastructure. With ongoing offshore activities and an increasing number of construction projects across the country, the government recognises the need for reliable transport services. As the country works to situate itself as a key gateway to West Africa and with an economy set to grow more quickly than the global average, its transport infrastructure will continue to require expansion and modernisation. Plans are in place for making promising improvements over the next decade and the government is eagerly pursuing private partners to help, creating opportunities for qualified investors. This chapter contains an interview with Richard Anamoo, Director-General, Ghana Ports and Harbours Authority.

With prices on stronger ground in global markets, mining companies are starting to display renewed interest in gold projects. In Ghana this precious metal represents more than 80% of mining activities, and an uptick in gold prices has led to a flurry of activity, with companies signing agreements, initiating production and seeking land for exploration. While a raft of fiscal changes aimed at increasing mining tax revenue have been introduced in recent years, the government has also sought to address sector challenges and ensure attractive investment conditions while promoting the development of sustainable mining. The implementation of the Minerals and Mining Policy will be key to strengthening the sector’s role in the economy. This chapter contains an interview with Sulemanu Koney, CEO, Ghana Chamber of Mines.

With prices on stronger ground in global markets, mining companies are starting to display renewed interest in gold projects. In Ghana this precious metal represents more than 80% of mining activities, and an uptick in gold prices has led to a flurry of activity, with companies signing agreements, initiating production and seeking land for exploration. While a raft of fiscal changes aimed at increasing mining tax revenue have been introduced in recent years, the government has also sought to address sector challenges and ensure attractive investment conditions while promoting the development of sustainable mining. The implementation of the Minerals and Mining Policy will be key to strengthening the sector’s role in the economy. This chapter contains an interview with Sulemanu Koney, CEO, Ghana Chamber of Mines.

Ghana’s energy consumption continues to expand, underlining the urgency of boosting generation capacity and improving access to power. While the government is working to further streamline the utilities sector and increase installed capacity to improve efficiency and ensure supply, it is also looking for private partners to assist with securing funding and reforming a number of its core projects and institutions. This chapter contains interviews with Alexander Mould, Acting CEO, Ghana National Petroleum Corporation; George Yankey, CEO, Ghana National Gas Company; and Kirk Koffi, CEO, Volta River Authority.

The Ghanaian banking sector had a difficult year in 2015, amid weakening macroeconomic conditions in the country. Growth fell below the rate seen in 2014, while non-performing loans rose significantly. However, banks used 2016 to retrench, lower their risk exposure and attempt to turn around weaknesses in their loan portfolios that were held over from 2015. Additional uncertainty created by the general election in December 2016 reinforced conservative behaviour, but the sector’s prospects in 2017 are promising. The industry remains one of the economy’s brightest performers, and the large unbanked population offers plenty of scope for expansion. This chapter contains an interview with Abdul-Nashiru Issahaku, Governor, Bank of Ghana.