In business meetings in Ghana it is customary to exchange greetings and shake hands. As relationships and networking are important in the business community, it is common to open a meeting by engaging in casual conversation about health, family and travel. The host will generally indicate when the business discussions should commence.
In 2014 the trade bloc ECOWAS, of which Ghana is a member, approved an economic partnership agreement (EPA) with the EU, one of Ghana’s main trade partners. The deal follows a decade of arduous trade negotiations, with particular concerns about competitiveness. Ghana and Côte d’Ivoire each initialled interim EPAs in 2007, but those agreements are to be replaced by the...
A few years ago, Ghana’s economy was one of the fastest growing in the world, with GDP growth rates stretching above 14%. Recent oil discoveries, combined with sustained prices for cocoa and gold, led to an influx of capital and boosted activity in a range of sectors, from telecoms to construction. Although Ghana’s economy is still growing apace – GDP was up 6.7% in the...
Although Ghana’s economic fundamentals have improved immensely in recent years, benefitting from the discovery of oil as well as reforms in everything from revenue collection to subsidy structures, the public sector balance sheet has for decades been a stubbornly challenging issue. In the first half of 2014, the budget shortfall totalled 4.2% of GDP, above the official...
Economic development in Ghana has been uneven. The areas in the north – the Northern Region, the Upper West Region and the Upper East Region – have historically been less well off and have tended to benefit less from growth than the rest of the country. It is a persistent disparity that is now beginning to get considerable attention: new government measures target...
Under the 1992 constitution, which created the fourth republic, Ghana has a unitary presidential system. The president, who is also the head of state, is elected every four years and the balance of power is ensured by a system of checks and balances. The current constitution of the Fourth Republic outlines the foundations of a republican version of democratic government...
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