Industry has been a significant source of economic growth for Ghana in recent years, a trend that continued despite the Covid-19 pandemic. While in the past industrial development has been tied to resource endowments such as cocoa, mining and crude...
As Africa’s largest gold miner and the world’s second-largest cocoa producer, Ghana has witnessed steady growth in recent years. While the country was impacted by the Covid-19 pandemic, it navigated the crisis better than many of its income-level peers, in large part thanks to measures aimed at boosting public revenue. Ghana aims to improve its fiscal deficit in 2022 to 7.4% of GDP.
As Africa’s largest gold miner and the world’s second-largest cocoa producer, Ghana has witnessed steady growth in recent years. While the country was impacted by the Covid-19 pandemic, it navigated the crisis better than many of its income-level peers, in large part thanks to measures aimed at boosting public revenue. Ghana aims to improve its fiscal deficit in 2022 to 7.4% of GDP.
Ghana’s industrial sector has emerged as a significant driver of growth in recent years as the country leverages its abundant natural resources to diversify the economy and attract investment....
The government of President Nana Akufo-Addo assumed power on a promise to take “Ghana Beyond Aid”, and is pushing ahead with initiatives to formalise the economy, diversify its manufacturing base and overhaul its taxation structure. Ghana’s ability to retain fiscal discipline will be tested, with election-related expenditure expected to increase in the run-up to the 2020 poll.
Ghana is one of the world’s top-10 gold producers and the second largest in Africa. A wave of investments in recent years has boosted production and improved cost efficiency in gold and manganese mining, while the government has acted firmly to improve industry regulation, tackle long-term issues such as illegal activity and environmental damage, and strengthen assaying capacity. Ghana boasts...
The discovery of large offshore oil reserves has had a significant impact on the national balance sheet, with shipments of crude oil representing the second-largest export category in 2017 after gold. Ghana is a relative newcomer to the global hydrocarbons industry, and with proven oil reserves of around 660m barrels and an output of about 126,000 barrels per day, it is a small producer by...
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