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Analysis

Pouring it on: Domestic cement suppliers should benefit from infrastructure growth
OBG
plus

As government infrastructure initiatives and strong real estate growth spur expansion in the construction industry, cement producers in Ghana have felt the effects of high demand keenly. Although undersupply was an issue in 2012, a number of new facilities under construction set to begin production in 2014 should keep the industry’s three major players on a steady upwards trajectory. However,…

Analysis

Setting up shop: New retail projects cater to the growing consumer class
OBG
plus

Although retail activity in Ghana has been historically hampered by the lack of Grade-A retail space and limited purchasing power, a growing middle class and strong demand for top-tier retail options has sparked a number of developments offering new opportunities to international developers and retailers looking to tap into an eager consumer base. Modern retail space attracted 5-10% of overall…

Analysis

Strong as steel: The growing metals segment seeks to capitalise on regional markets
OBG
plus

The domestic construction boom offers big rewards for steel producers. Residential and industrial developments are consuming supplies of steel products, from rebar and nails to wire netting and corrugated roofing. Despite the enormous potential, the same challenges confronting local industries across the board are also undermining local steel producers. Meanwhile, international steel firms eager…

Analysis

Engineering change: Implementing an efficient health care model through policy reform and fiscal decentralisation
OBG
plus

As the Ghanaian health care sector grapples to absorb a rising number of new patients each year, the government has made a push for decentralisation. For the most part, this is aimed at accelerating the transfer of responsibility for provision from the central government to the country’s 10 regions and 216 districts. Though administrative and fiscal decentralisation was advanced after establishing…

Overview

A stable foundation: Political and economic growth in one of Africa’s first democracies
OBG
plus

Often lauded as one of the most peaceful and open democracies in western Africa, the Republic of Ghana has now experienced decades of relatively stable political and economic progress. However, while the country has seen two successful democratic handovers of power and four presidential elections over the past 13 years, it was not always so, and following Ghana’s 1957 declaration of independence…

Overview

More to come: Resource revenues spur growth and infrastructure investment
OBG
plus

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 rise in fiscal deficits as the country attempts…

Overview

Building the bourse: Strong results and pending changes are expected to increase activity on the exchange
OBG
plus

While Ghana benefits from a roster of financial actors, ranging from universal banks to savings and loan institutions to pension funds and susu collectors ( informal depository institutions for market traders and shopkeepers), the country’s capital markets are comparatively modest compared to continental exchanges in Cairo, Johannesburg, Lagos and Casablanca. The Ghana Stock Exchange (GSE),…

Overview

Well positioned: Increasing awareness of financial services and formalising regulations
OBG
plus

Even in spite of continued turbulence in global markets, Ghana’s banking sector has been consistently profitable over the past year and continues to show steady growth across all areas. High-yield Treasury bills have enabled banks to make good returns on investments, although high commercial interest rates on loans remain a sticking point for many potential clients. At the same time, an emerging…

Overview

Game changer: Hydrocarbons reserves have reshaped the economy
OBG
plus

Since the discovery of offshore oil in 2007, Ghana has been adapting to the new reality of its hydrocarbons economy. The initial euphoria has given way to some of the more challenging aspects of extracting oil and gas offshore, but with the Jubilee field producing near capacity and plans to develop the TEN field approved, Ghana is on solid footing to maximise oil production, development and exploration.…

Overview

Underwriting expansion: Increasing provision of insurance services is a key development goal
OBG
plus

Six of the world’s 10 fastest-growing economies over the past decade were in sub-Saharan Africa, including Ghana. The nation’s growth is the result of commodity-fuelled expansion, which has been helping underwrite a surge in the country’s financial services sector, and the insurance market is no exception. While penetration is still modest by emerging market standards, headline indicators…