Ghana Economic Research Highlights
Ghana is the first African country to achieve independence from British colonial rule, and is widely known for its natural resources such as cocoa, as well as its inland water sources. Several measures have been taken to balance government revenue and spending, and the country remains a safe haven for foreign direct investment, which stood at $830m in the first half of 2021.
Special Reports on Africa
As a free zone operating outside of Libyan domestic trade legislation, Misurata Free Zone (MFZ) is seeking to leverage its competitive advantages – including complete exemption from national commercial registration obligations and 100% foreign ownership of MFZ-based companies – to establish itself as a gateway to Africa.
Although stock exchanges on the continent were affected by the Covid-19 pandemic, recovery is starting to take shape. The crisis underlined the need to build resilience and diversify the investor base. This Focus Report highlights the key trends and opportunities that have emerged in the financial sector, and showcases how market actors were able to support economies, investors and companies during the pandemic.
Automotive stakeholders are increasingly aware that the business-as-usual scenario that has sustained the industry for more than 100 years is no longer tenable. Regulatory changes and emissions-reduction targets at the national and global level are spurring a pivot to low-carbon and zero-emissions vehicles. This transition requires a period of intense innovation to develop new technologies that make electric vehicles (EVs) appealing, safe, reliable and affordable.
Significant diamond wealth, good governance and prudent economic management have enabled Botswana to develop into an upper-middle-income country. The Botswana Focus Report explores how the country is attracting investment thanks to its transformation agenda, competitive tax regime and lack of foreign exchange controls.
Nigeria has made tangible progress on health indicators in recent years, although structural challenges remain. While the government will continue to play a central role in the pursuit of universal health care, there are opportunities for private sector participation to help achieve its ambitious goals.
Focus Report: Misurata Free Zone positions itself as a gateway to Africa
Focus Report: Post-pandemic trends and opportunities on African stock exchanges
Report: The road to a zero-emission automotive industry in the Middle East and Africa
Focus Report: Botswana's economic transformation agenda
Focus Report: Ongoing efforts to strengthen Nigeria's health sector
Economic News & Views on AfricaEconomic Update
Although economies in Africa faced uncertainty in 2022 as economic and global shocks weighed on post-Covid-19 pandemic recovery, intraregional trade and climate finance initiatives are helping to chart a course towards more sustainable development. Mirroring global trends, growth across the region is expected to slow from 4.7% in 2021 to 3.6% in 2022, according to the IMF’s regional economic outlook for sub-Saharan Africa.
Key reforms are lowering barriers to foreign direct investment (FDI) and improving the ease of doing business in Côte d’Ivoire as the country looks to rebound from the Covid-19 pandemic. The government aims to increase foreign and private investment to 72% of the total and process at least 50% of raw export commodities domestically by 2030.
Bernardo Bruzzone, Regional Editor for Africa at Oxford Business Group, speaks with Professor Bruno Gérard, Head of the Agrobiosciences department at Mohammed VI Polytechnic University (UM6P), about the opportunities and challenges present nowadays in the African agriculture sector. Africa has the potential to feed the world’s population in the coming years, however, there is room for more private investment to strengthen and modernise the sector in a continent where more than 70% of the population lives from agriculture.
While uncertainty abounds in global energy markets amid Russia’s ongoing invasion of Ukraine, African leaders are increasingly looking to the private sector to finance investment in clean energy ahead of the COP27 UN Conference on Climate Change, to be held in Sharm El Sheikh, Egypt in November 2022. The COP27 agenda will consider more than 140 projects in Africa, 19 of which are considered ready for implementation and investment, including four in Egypt that carry an estimated cost of $17.4bn but need additional private sector funding.
As Botswana embarks on an economic transformation plan to help the country rebound from the Covid-19 pandemic, special economic zones (SEZs) are emerging as a key policy priority. The country’s economic plans in recent years have increasingly included plans to develop SEZs, beginning in 2015 with the establishment of the Special Economic Zones Authority (SEZA), a government body tasked with developing SEZs.