Overview

Ghana's capital markets to benefit from new guidelines and listings
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As recent economic headwinds worldwide affected Ghana’s capital markets, with rising inflation and high borrowing costs resulting in lower levels of liquidity, the authorities have worked in recent years to increase the depth and breadth of the country’s capital markets. Indeed, the country’s capital markets feature a stock exchange, a dedicated exchange for small and medium-sized enterprises…

Overview

Ghana expanding financial inclusion and technology adoption
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In 2020 discussion around the Ghanaian banking sector was upbeat, buoyed by promising macroeconomic conditions, with government bonds receiving increased attention from international investors. However, starting in 2022 the West African country has been navigating through a period of economic uncertainty marked by high inflation and sector contraction in real terms amid persisting global economic challenges.…

Overview

Ghana's regulatory reforms seek to expand insurance penetration
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Ghana’s insurance industry has been transformed in recent years by regulatory reforms, led by the National Insurance Commission (NIC). The commission has prioritised modernising the sector, as well as enhancing its accessibility and reach. Supported by these efforts, the sector has expanded rapidly, with total gross written premium growing by 232% between 2018 and 2022. Along with the increase in…

Overview

Ghana's investment inflows create economic opportunities
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Ghana’s economic trajectory throughout the previous decade has been positive, with growth peaking at 13.9% in 2011 on the back of strong oil revenue from the offshore Jubilee Field and solid performance in the gold and cocoa export markets. It has not been entirely smooth sailing during that time, however, with multiple bailout agreements signed with the IMF, the most recent a $3bn extended credit…

Overview

Ghana's advantages include rich history and stable governance
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Ghana achieved independence from British colonial rule in 1957, making it the first African country to do so. The country shifted between several civilian and military governments post-independence until January 1993, when the ruling Provisional National Defence Council military government transitioned the country into the current Fourth Republic of Ghana, following presidential and parliamentary elections…

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Overview of Ghana's democratic landscape
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In December 2020 Ghanaians went to the polls to elect a president and members of Parliament. The incumbent head of state and leader of the ruling New Patriotic Party (NPP), President Nana AkufoAddo, was re-elected in the first round of voting over former President John Dramani Mahama, the candidate for the main opposition party, the National Democratic Congress (NDC). This marked the third time that…

Overview

Ghana's new ease-of-doing-business measures boost industrial capacity
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Ghana’s industrial strategy has been a reference point in the acceleration of Africa’s industrialisation drive in recent years. Since 2015 industrial subsectors such as manufacturing, and oil and gas have consistently attracted some of Ghana’s largest inflows of foreign direct investment (FDI). Indeed, the country has remained in the top-three FDI destinations in West Africa since 2006. The relative…