Analysis

Year of Return campaign encourages members of the African diaspora to engage with Ghana’s history and culture
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In September 2018 President Nana Akufo-Addo declared 2019 the Year of Return, in acknowledgement of the 400-year anniversary of the first enslaved Africans arriving in Jamestown, Virginia. The campaign aims to encourage tourism while also reconnecting members of the African diaspora with the continent, creating a tradition of homecoming for both international visitors and returning Ghanaians. President…

Analysis

The history of value-added tax in Ghana
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The topic of VAT has dominated the discussion of taxation in recent years, with the most notable conversations occurring in the Gulf. Like the Gulf countries, many territories have their own story of implementing the tax. This analysis outlines the VAT story in Ghana, highlights how the tax has changed over the years and explains the situation surrounding the current VAT regime. If anyone…

Analysis

Efforts to revive Ghana's corporate governance landscape
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The new Companies Act promotes prudence in management, effective boardroom practice and shareholder activism. The timing of this new law is ideal as 2018 saw a string of collapsed banks, many of which experienced a breakdown in their corporate governance regime. For the first time in Ghana’s corporate governance history, an Office of the Registrar of Companies (RoC) will be established, with…

Overview

Useful information for business and leisure travellers in Ghana
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Language English is widely spoken in Ghana and is frequently used in formal business settings. Ghanaians do appreciate when visitors try to use basic words in Twi, such as Akwabaa (Welcome), Wo ho te sen? (How are you?) or Me da ase (Thank you). Entry Visas It is advisable to obtain a visa prior to arrival, although some nationalities can apply for a visa at the point of entry. Citizens of…

Overview

Emerging markets respond to retrenchment of overseas banking operations
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The three decades before the 2007-08 global financial crisis were marked by the world’s financial networks being increasingly interconnected. Financial system regulatory convergence, growing penetration of World Trade Organisation rules and the creation of currency unions, such as the euro, resulted in a surge in cross-border capital flows. Global banks began to see the emergence of a single…

Overview

Public and private actors tackle water scarcity in the agriculture sector through policy reform, technology adoption and infrastructure investment
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Global food demand is expected to increase by anywhere between 59% to 98% by 2050. However, global freshwater resources are already overstretched due to climate change and soaring population growth, and it is unclear how agricultural production will keep pace with these challenges. In recent years climate-induced water shortages in urban areas have brought water scarcity to the forefront of…

Overview

Online shopping set to expand in emerging markets around the world
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While e-commerce has become well established in more developed markets, the segment has been slower to take off in emerging economies. Online purchasing has been held down in these markets by financing, purchasing and logistics challenges. Nevertheless, online sales are growing rapidly in many developing countries in spite of these obstacles. Some governments are changing frameworks to boost…

Overview

The ever-expanding digital economy creates widespread ICT opportunities in the developing world
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More and more commercial transactions are moving online and the so-called digital economy continues to expand its reach into every facet of the traditional analogue economy. For businesses this means they have access to new channels to reach existing clients as well as new opportunities to expand market share with a competitive digital offering. For consumers the ever-expanding digital economy…

Overview

A combination of large-scale transport infrastructure investment and vehicle-sharing platforms boost urban mobility
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Around the globe the urban transport sector is experiencing rapid expansion, driven by economic growth and a global demographic shift towards urbanisation. Politicians, urban planners and private sector actors are working together to find new solutions for reducing congestion and increasing the speed and efficiency of urban transport systems. However, unless proactive steps are taken to plan…

Overview

Support for small and medium-sized enterprises increasingly recognised as key to sustainable growth globally
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Small and medium-sized enterprises (SMEs) are the engines of global economic growth and employment, accounting for an average of 33% of GDP and 45% of the workforce in high-income countries, and over 60% of GDP and 70% of employment in developing economies. In the case of the latter, the rise in the number of has been crucial to economic diversification and resilience, particularly in countries…