Ghana Articles & Analysis

Since assuming power in January 2017 the administration of President Nana Akufo-Addo has moved to rein in fiscal spending, industrialise rural regions and improve the business environment in order to jump-start economic growth. The government has brought down the fiscal deficit and freed up capital spending for priority projects, and Ghana’s economic prospects appear strong for 2018.

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Expanding industrial output, including from its extractive industries, helped Ghana maintain economic momentum throughout 2018, with the prospect of a similar performance in the coming year.

Ghana has launched its first open bid for oil and gas leases, a move aimed at attracting international energy investors to the country’s upstream market.

Ghana’s newly rebased GDP presents a larger and more diverse economy, with greater appeal for lenders and investors.

Ghana is pushing ahead with efforts to strengthen its domestic banking sector, encouraging the consolidation of local institutions.

Ghana is exploring new investments to increase its returns on agricultural output, with the development of value-added projects aimed at expanding agro-processing capacity.

Momentum in Ghana’s hydrocarbons industry is increasing, with a new offshore field entering production, and the prospect of more oil and gas leases to be offered for exploration.