Ghana: Oxford Business Group Launches Landmark Economic Report

GhanaEconomy

Event

13 Sep 2011
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2011 publication puts major oil discovery and mining in the spotlight 

 

The Report: Ghana 2011, which marks OBG’s first publication on the country’s economic activity and investment opportunities, was launched on 13th September 2011 at the Movenpick Hotel Accra. The event was attended by over 200 dignitaries and high-level representatives from the fields of politics and business.

 

The major contribution that oil revenues will make in Ghana’s drive to diversify its economic base is explored in a milestone report just published by Oxford Business Group (OBG).

OBG’s report includes a detailed, sector-by-sector guide for foreign investors together with a broad range of contributions from prominent political, economic and business leaders, including the President of Ghana John Atta Mills.

The leading global publishing, research and consultancy firm’s wide-ranging publication provides in-depth analysis ofthe boost that Ghana’s oil find should give GDP. It also considers the key role that oil production will play in redefining the economic landscape which is currently dominated by cocoa and gold.

In addition, the report contains contributions from leading international representatives, such as the Prime Minister of the Netherlands Mark Rutte, the Indian Minister of Commerce and Industry Anand Sharma, the President of ECOWAS Commission James Victor Gbeho and the Vice-President for Africa, World Bank Group Obiageli Ezekwesili.

Other national figures who give their views on Ghana’s development include Vice-President John Dramani Mahama, the Minister of Finance and Economic Planning Kwabena Duffuor and the Managing Director of Ghana National Petroleum Company Nana Boakye Asafu-Adjaye.

OBG’s 2011 report puts Ghana’s bid to carve out a niche for itself as a regional transport centre in the spotlight. The publication maps out the key roles earmarked for the country’s road network, ports and airports as Ghana moves ahead with plans to enhance connectivity through major refurbishment projects.

 With gold dominating the country’s mining exports, The Report: Ghana 2011 offers comprehensive coverage of the boost that rising gold prices are giving to both production and revenues. It also considers the potential that untapped reserves of non-traditional minerals may offer alongside other resources which include diamonds and manganese.

The Report: Ghana 2011 has been produced in partnership with the Ghana Investment Promotion Center (GIPC). Contributions have also been made by Deloitte as OBG’s accountancy partner, IC securities for its capital markets Chapter and Bentsi-Enchill, Letsa & Ankomah as the Group’s legal partner.

With figures indicating an increase in the number of visitors travelling to Ghana, OBG’s launch report explores the country’s plans to expand its tourism industry by tapping the leisure segment. It provides details of the incentives which the country is considering to boost visitor numbers, such as a review of visa fees and improvements to infrastructure.

“Even before its oil find, Ghana already enjoyed a reputation as one of Africa’s most robust democratic states and benefited from strong economic growth,” he said. “With the influx of liquidity brought about by both crude sales and upstream investment, these truly are exciting times for Ghana which I am delighted we have been able to document in our launch report.”

OBG’s Regional Editor Robert Tashima voiced his confidence that with production at the Jubilee oilfield now in its ninth month, The Report: Ghana 2011 had captured the transformation under way in the country’s economic development.

 The Chief Executive Officer of the GIPC George Aboagye added that The Report: Ghana 2011 would play an important part in relaying the country’s changing economic landscape on the international stage.

 “Oxford Business Group enjoys a well-deserved reputation as a market leader on emerging economies,” he said. “I am confident that this inaugural report will fill a void by providing much-needed, comprehensive data on Ghana’s heightened economic activity to investors worldwide.”

Elise Postigo, OBG’s Country Director in Ghana, highlighted the contribution that the Group’s partners had made during the research process for The Report: Ghana 2011.

“Since launching its operations, Oxford Business Group has always worked closely with local experts, having recognised the valuable contribution that their on-the-ground knowledge can bring to our teams,” she said. “With Ghana in the midst of economic change, I am confident that the new partnerships we have established here over the past months have helped us to produce an unrivalled report which business leaders will find invaluable when making their investment decisions.”

The Report: Ghana 2011 marks the culmination of more than six months of field research by a team of analysts from OBG, assessing trends and developments in all major sectors of the economy, including energy, industry, finance, banking, tourism, transport and real estate. The report is available in print form and online.

 

 

 

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