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Interview

Michael Oquaye Jr, CEO, Ghana Free Zones Authority: Interview
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Interview: Michael Oquaye Jr What key reforms need to be implemented to meet the full potential of the African Continental Free Trade Area (AfCFTA)? MICHAEL OQUAYE: The implementation of the AfCFTA agreement is crucial to the continent’s economic development. Launching commercial exchanges is an important step towards the economic integration of what will be the world’s largest economic zone,…
Interview

Yofi Grant, CEO, Ghana Investment Promotion Centre: Interview
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Interview: Yofi Grant How have government spending and investment trends changed during the Covid-19 pandemic? YOFI GRANT: Countries around the world implemented support and recovery packages in response to the pandemic that were aimed at bolstering industry and the wider economy, while also fostering business continuity. There was a tendency for countries to look inwards to see how they could best…
Interview

Ernest Addison, Governor, Bank of Ghana (BoG): Interview
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Interview: Ernest Addison How do you assess the soundness of Ghana’s banking sector, and how did it fare during the pandemic? ERNEST ADDISON: The BoG started comprehensive banking sector reforms in 2017, three years prior to the onset of the Covid-19 pandemic. Some of the measures that we took included recapitalisation of banks; an overhaul of the supervisory and regulatory frameworks; and a clean-up…
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Humphrey Ayim-Darke, President, Association of Ghana Industries (AGI): Interview
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Interview: Humphrey Ayim-Darke How can the private sector and the government support the development of small and medium-sized enterprises (SMEs)? HUMPHREY AYIM-DARKE: Players in the public and private sectors have worked in recent years to support SMEs, a trend that intensified during the Covid-19 pandemic. The Ghana Enterprises Agency, for instance, has been doing a good job in shaping business…
Interview

Abena Osei-Poku, Managing Director, Absa Bank Ghana: Interview
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Interview: Abena Osei-Poku To what extent did the banking sector successfully navigate the Covid-19 pandemic? ABENA OSEI-POKU: The banking sector demonstrated notable resilience during the pandemic, highlighting the fact that the sector is regulated, well capitalised and broadly profitable – despite strong competition. The sector has sufficient capital buffers to absorb potential losses from lending,…
Interview

Kwabena Boamah, Managing Director, Stanbic Investment Management Services: Interview
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Interview:Kwabena Boamah What is Ghana’s economic recovery outlook? KWABENA BOAMAH: The outlook is mixed. An important factor to watch is Ghana’s fiscal gap. Government expenditure, already fuelled by the pandemic, must continue to rise to improve infrastructure and fund efforts to bridge the gap between low- and middle-income earners. However, Ghana’s revenue mobilisation is not strong…
Interview

Ekow Afedzie, Managing Director, Ghana Stock Exchange (GSE): Interview
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Interview:Ekow Afedzie To what extent did the Covid-19 pandemic impact liquidity in Ghanaian capital markets? EKOW AFEDZIE: The GSE was able to maintain operations after the outbreak of Covid-19 largely because automated systems had already been implemented on the trading floor. As a result, brokers and other stakeholders were able to continue to participate in the capital market uninterrupted.…
Analysis

How can the private sector help fund Ghana's economic development plans?

Posted OBG AdminPosted in Uncategorized

For many years Ghana has been one of Africa’s top investment destinations, ranking fifth on the continent for foreign direct investment (FDI) inflows between 2011 and 2020, according to World Bank data. The organisation’s figures show the country receiving $32.5bn in FDI over the period, the second most in West Africa after Nigeria, with $45.1bn. The Covid-19 pandemic, however, saw FDI flows fall…
Analysis

Will Ghana's new fintech office help boost financial inclusion?

Posted OBG AdminPosted in Uncategorized

Ghana is looking to leverage financial technology ( fintech) to boost participation in the banking sector, utilising digital services that are accessible and affordable to improve customers’ experiences. High levels of mobile phone penetration have facilitated this movement; Ghana boasts West Africa’s highest unique subscriber penetration rate, at 55% in 2020, above the sub-Saharan African average…
Analysis

How are Ghana's financial support schemes supporting small businesses?

Posted OBG AdminPosted in Uncategorized

The banking sector has played a key role in mitigating the effects of the Covid-19 pandemic on small and medium-sized enterprises (SMEs). Banking authorities and institutions moved swiftly to ease the economic pressure on SMEs and other entities in the early months of the crisis. In late March 2020 interest rates were cut by two percentage points starting the following month, and a six-month moratorium…