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Overview

Room to grow: Despite the challenges facing the sector, cash crops and food processing hold potential for expansion
OBG
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Often referred to as the backbone of Ghana’s economy, agriculture has traditionally been the largest sector and biggest employer in the country, bolstered by diverse commodities and strong ties to European markets. However, agriculture’s economic contribution has dwindled as the sector has shown low growth in recent years, with its contribution to GDP falling in 2012, totalling 22.7% of GDP,…

Overview

Firm foundations: As high-end residential growth slows, affordable housing and retail are giving the sector a lift
OBG
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Property development in Ghana is growing, with increased demand in the residential, office and retail segments in major urban areas. Currency fluctuations and high levels of inflation have limited expansion, and high interest rates continue to dampen lending activity. However, developments in Grade-A property, spurred by an influx of foreign investors and steady progress in the mortgage market,…

Overview

On a roll: Brisk economic expansion is putting pressure on infrastructure
OBG
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As Ghana’s growth rate continues to hover around 7%, the country’s transportation network is under increasing pressure to keep up with the rise in commodity exports, processed imports and local distribution. The country’s road and railway networks are comparatively well developed in comparison to other regional economies, but as with many African countries, they are also under-maintained.…

Overview

Laying the cornerstones: Government expenditure is supporting increased activity
OBG
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The influx of capital and burst of growth that followed Ghana’s discovery of oil in 2007 led to a construction boom in 2011-12, evidenced by the cranes dominating the Accra skyline. Although energy tariffs are rising, revenues from oil, cocoa and gold are flowing into state coffers and gas production is scheduled to commence in late 2013, meaning capital for construction projects should remain…

Overview

System upgrades: Initiatives are under way to address supply constraints and promote private investment
OBG
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With the economy growing at record rates, the authorities are working to keep pace with rising demand for water, power and sanitation. Compared to many neighbouring countries, Ghana’s utilities are in healthy standing, though the sector has not been without problems. Over the past year power outages increased to the point that local industries cited inadequate power supply as the top constraint…

Overview

Fully charged: Competition continues to grow as operators chase narrowing margins
OBG
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In 2013, President John Dramani Mahama took a moment during the annual “State of the Nation” address in Accra to hail the rise of the domestic telecom sector, noting that telephone subscriptions in Ghana had more than doubled since December 2008. The remark highlighted the industry’s success in increasing penetration beyond the regional averages. Having reached 100% by the end of 2012, penetration…

Overview

Important trip: With backing from the state, marketing and promotional efforts should help to drive growth across a range of niches
OBG
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After cocoa exports and gold mining, tourism is the top foreign currency earner in Ghana’s economy. The sector generated some $694m of foreign currency for the government in 2012. Though tourism’s status as the third-highest earner may soon be challenged by other sectors, it will remain an industry with high potential for growth and an important source of employment for thousands of Ghanaians.…

Overview

Expanding consumer market: In line with the growth of the middle class, formal retail activity is on the rise
OBG
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Although the domestic market is relatively small, with one of the world’s fastest-growing economies and an upwardly mobile population, Ghana is increasingly attractive for producers and retailers of consumer goods. Suddenly flush with cash, the ranks of Ghana’s high-income shoppers are growing and they are buying up imported products from $10,000 TVs and designer sneakers to high-end beers.…

Overview

Interconnections: Robust broadband connectivity and government initiatives buoy IT sector growth
OBG
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In April 2013, newspaper headlines in Ghana fêted the distribution of 50,000 laptops by the government to teachers. The effort marked part of a push to make the internet and IT services more accessible to millions of Ghanaians. The country’s stable investment framework, combined with a strong education system, rising per capita income levels and increasing bandwidth capacity mean the nation…

Overview

On solid footing: Strong exports and production performances support the nation’s status as a regional centre
OBG
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Given the country’s growing consumer population, limited product penetration and stable business environment within ECOWAS, the manufacturing sector in Ghana has impressive potential. However, in recent years, secondary activity has experienced some issues, and industry growth has not quite matched the spectacular expansion seen in other sectors. Like many West African countries, Ghana’s dependency…