Africa Economy

The insurance industry is a very critical sector in the nation’s socio-economic development, and therefore pledges the government’s support to the insurance industry in particular and the financial services sector as a whole. Conservative figures put the rate of insurance penetration in Ghana at about 1%, compared to South Africa with a...

As is the case in many emerging markets, small and medium-sized enterprises (SMEs) play a crucial role in Ghana’s economy, driving both activity and employment. Still, their impact is lower than it could be due to a challenging operating environment.

Outperformance remains the key feature of Ghana’s economy, seven years after the discovery of oil prompted new optimism in the country, which was then celebrating the golden jubilee of its independence. But the GDP growth experienced in 2012 and in the early part of 2013 has been accompanied by an expansion in government borrowing and a worrying...

In 2012 Ghana found itself in the spotlight for having among the highest GDP growth rates in the world in 2011, thanks to the impact of oil revenues and the rebasing of the economy. The GDP figures released for 2013 show that growth is continuing at a robust rate – at just under 8% – but headline expansion has not resolved the twin current account...