Ghana Economy

With a focus on driving broader economic development through both manufacturing and the establishment of special economic zones (SEZs), Ghana is looking to capitalise on the benefits associated with the African Continental Free Trade Area (AfCFTA).

Economic zones in Africa have had a significant impact on trade volumes across the continent, as well as on job creation and foreign direct investment inflows.

The African PE industry has become increasingly complex and diverse, with the arrival of global institutional investors in recent years paving the way for some of the world’s largest firms to enter the market. Between 2014 and 2019 the total value of the 1053 PE deals reported in Africa reached $25.4bn. While deal volumes have maintained an upward trend, their value has gradually eased, suggesting growing investor interest but smaller deal sizes. Moreover, in addition to consumer-driven industries, PE fund managers have diversified their strategies to invest across a variety of sectors such as IT, renewable energy, infrastructure and real estate.

Ghana has raised $3bn as part of a new eurobond issued on February 4. The issuance was almost five times oversubscribed and attracted around $14bn in bids.

Amid continuing diversification efforts, an expansion of mining and oil and gas activity helped Ghana maintain its status as one of Africa’s fastest-growing economies in 2019.