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Ghana's 2020 elections solidify prolonged period of democratic rule
OBG
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In December 2020 Ghanaians will go to the polls to elect a president and members of the National Assembly. The incumbent head of state and leader of the ruling New Patriotic Party (NPP), President Nana Akufo-Addo, is seeking re-election. He will take on former President John Dramani Mahama, who was elected as the candidate for the main opposition party, the National Democratic Congress (NDC).…

Overview

Ghana positions itself as a key player in the broader region
OBG
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As the first African country to gain independence from colonial rule in 1957, Ghana is one of the most stable multi-party democracies in the region and one of the fastest-growing economies on the continent. In July 2019 the capital city Accra was selected by the African Union as the host city of the Africa Continental Free Trade Area Secretariat, due in part to Ghana’s long history of pan-African…

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Strong economic growth rates in services and industry channel investment as Ghanaian government aims for fiscal discipline
OBG
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Ghana’s economy is one of the fastest growing in Africa, and its recently established oil and gas industry has made it a target for foreign investment. However, while prospects for continued expansion are good, the state faces a stubborn fiscal deficit and the longer-term challenge of reducing the nation’s reliance on a small number of exports. Fiscal and economic reform, therefore, remain…

Overview

Ghana CEO Survey:
OBG
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With GDP expansion forecast at 7.5% in 2019 and monetary and fiscal restructuring under way, the Ghanaian authorities are pushing ahead with a number of programmes to boost the performance of key sectors and promote diversification. The business community, in turn, remains largely optimistic about near-term prospects. In OBG’s third Ghana CEO Survey, 71% of participants had positive or very positive…

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Emerging markets respond to retrenchment of overseas banking operations
OBG
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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…

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Ghana's banking sector clean-up has created a more sustainable industry
OBG
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A regulatory crackdown on poor business practices and weak capital positions in Ghana’s banking sector has resulted in a series of market exits since August 2017. The outcome is a smaller but more sustainable banking industry, though this has come at a price. The Bank of Ghana (BoG) puts the total costs of its clean-up operation at some GHS10.98bn ($2.1bn), equivalent to just over 3% of the…

Overview

Ghanaian authorities work to attract sustainable flows of capital to the country's stock exchange
OBG
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As Ghana enters an election year in 2020, sector stabilisation and reform are key focuses within the capital markets arena. While the regulator is taking steps to shore up market confidence in the short term in light of recent banking and asset management reforms, the long-term ambition of exchange authorities is to introduce new products and services that will attract the capital flows necessary…

Overview

As the risk of data theft continues to rise, the cyberinsurance segment is poised for significant growth
OBG
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The threat of cybercrime has risen dramatically in recent years, and emerging markets are no exception. While the shift towards online platforms – along with the development of the internet of things, smart cities and blockchain technology – is generating significant opportunities for wealth creation and helping to raise efficiency, it is also creating a new set of complex challenges for…

Overview

New regulatory framework and higher minimum capital requirements bring Ghana's insurance sector in line with global best practices
OBG
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After successfully weathering a period of financial instability stemming from the banking sector, Ghana’s insurance industry is growing in size and sophistication. The coming year, however, will bring a fresh set of challenges as the authorities look to roll out a new legislative framework for the industry in 2020, and as companies seek to meet the 2021 deadline for revised capital requirements.…

Overview

Ghana's oil and gas infrastructure continues to develop as companies explore onshore and offshore potential
OBG
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The decade from 2009 to 2019 was highly transformative for the Ghanaian energy sector. When the nation made its first discovery of deepwater oil and gas in 2007, biomass was the largest component in its total energy consumption. The subsequent exploitation of this new hydrocarbons resource, combined with a national drive towards electrification, saw a significant reduction in the importance…