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Dynamic and competitive, Ghana’s telecoms sector is one of the brightest spots in an economy that has had a bumpy ride over the past two years. Demand for mobile services in particular is resilient and rising. As of June 2015, Ghana had a total of 32.36m mobile subscribers, indicating theoretical market penetration of 119.41%. The market is appealing, as evidenced by the strong international presence and competition. In IT, the government, international institutions and the private sector are increasingly convinced of the market’s potential, and the importance of the ICT sector in broader social and economic development. However, more investment in infrastructure, products, and services is needed to capitalise on this potential, with many residents, businesses and parts of the government still lagging behind in technology adoption. This chapter contains an interview with Jonathan Tawiah, Managing Director, Ostec.

Rapid economic development, demographic growth and regional dynamics have put increasing pressure on Ghana’s transportation system over the past decade, and it has at times struggled to keep pace. Rather than allow the transportation sector to become a victim of the country’s success, the government has pushed forward infrastructure development projects, with the private sector encouraged to take a major role in finance, construction and management. The importance of private participation in transport infrastructure has become ever more apparent in recent years. Although Ghana’s public resources remain limited, pressure on its transportation system has increased due to economic and population growth, as well as a rise in visitor numbers and trade, including with the landlocked countries to the north. This section contains interviews with Peder Sondergaard, CEO of Africa and Middle East Region, APM Terminals, and Geoffrey White, CEO, Agility.

Even as Ghana’s oil and gas industry continues to expand, the agricultural sector remains a vital contributor to economic activity, employing more than half of the working population. The country cultivates a rich array of staples and cash crops, and is the second-largest producer worldwide of cocoa. The sector experienced a year-on-year growth rate of 4.6% in 2014, according to the Ghana Statistical Service, compared with 5.7% in 2013 and 2.3% in 2012. This was lower than the targeted 5.2%, and down from the earlier estimate of 5.3%. However, the sector remained the second-fastest-growing part of the economy, behind only services (5.7%). This chapter contains an interview with Peter Ndegwa, Former Managing Director, Ghana Breweries Limited.

Once known as the Gold Coast, Ghana is a key player in the international gold market and Africa’s second-largest producer. In 2013, 86.6% of export revenues from the mining sector came from gold, making the metal the top export and source of foreign currency. Gold generated $4.2bn in 2013, compared with $3.2bn from oil and $1.3bn from cocoa. Growth has been hampered in recent years by external factors such as lower metal prices and internal ones like the rising cost of electricity and illegal mining. These difficulties have combined to boost costs and lower profit margins in the sector, and legal and regulatory changes are in the works. For now, exploration activity is minimal, but authorities hope that when global conditions for mining improve a boost in activity will follow. This chapter contains an interview with Sulemanu Koney, CEO, Ghana Chamber of Mines.

Ghana’s energy sector is both young and growing fast, with a second major oil and gas field set to commence production in 2016 and a third to follow soon thereafter. Legal and regulatory regimes are still being established, while improvements are being made to infrastructure to catch up with a rise in demand. This will help to remove obstacles to the use of domestic energy supply to speed up development. In the downstream market, deregulation is likely to be the highlight of 2015, after a decision to end government price setting for main consumer fuels. Increasing oil production, even in a lower price environment, will be particularly valuable at a time when Ghana is grappling with a budget deficit estimated at 7.5% of GDP. This chapter includes interviews with Joe Mensah, CEO, Kosmos Ghana; William Amuna, CEO, GRIDCo; and Samuel Nana Brew-Butler, Chairman, CenPower Generation.

Growing at one of the fastest rates in Africa, Ghana’s insurance sector continues to do well despite the headwinds faced by the overall economy. Analysts and market participants are expecting years of solid performance as awareness, penetration and density increase and converge towards global averages. Companies in the sector are reporting strong profits and good premium growth, while interest is high from international investors, with 2014 and 2015 characterised by a series of major transactions. Insurance in Ghana is set for continued growth, mergers and acquisitions, and improved coverage, and the country is likely to be one of the better performing markets in the region. This chapter includes an interview with Ivan Avereyireh, President, Ghana Insurance Association (GIA).