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In 2022 significant political efforts propelled the energy transition, leading to a record-breaking year in green finance. Governments, international institutions and lenders actively backed the shift to renewables. In tandem, projections indicated that renewable energy capacity would reach a record 440 GW in 2023. Notably, green bond issuance reached $351bn in the first half of the year. This marks…
Interview:Alex Apau Dadey How can Ghana effectively maximise the impact of diaspora human capital to stimulate economic investment in the country? DADEY: The country’s most precious asset is its diaspora. Therefore, it is important to encourage policies that will facilitate political and economic inclusion. Ghanaians living abroad have always aided in the growth of the economy, but…
Interview:Samuel Awuku Which factors account for the growth in Ghana’s lottery industry and the attending challenges? AWUKU: The ongoing transition from the traditional means of operating lotteries to online games has accounted for remarkable growth in Ghana’s lottery markets. The online lottery market leverages the convenience and accessibility offered by digital platforms, enabling a…
Interview:Ammishaddai Owusu-Amoah How has the digitalisation of tax collection contributed to revenue mobilisation? AMMISHADDAI OWUSU-AMOAH: The impact of technology and digitalisation on Ghana’s tax administration has been significant, improving efficiency in both tax collection and revenue generation. About 50 companies participated in phase one of the new electronic tax invoice system,…
Interview:Ken Ofori-Atta What are the key effects of the IMF’s extended credit facility on the economy over the medium term? KEN OFORI-ATTA: The extended credit facility aims to facilitate large and front-loaded fiscal consolidation to re-establish public finances on a sustainable path. Fiscal consolidation will be executed by mobilising more domestic revenue and improving the efficiency…
Interview:Yofi Grant How does the African Continental Free Trade Area (AfCFTA) enhance Ghana’s investment appeal? YOFI GRANT: As the largest trading bloc in the world, with a membership of 54 countries covering a population of 1.3bn people and an estimated GDP of $3.4trn, the AfCFTA presents significant opportunities for Ghana, especially as host of the trading bloc’s secretariat. Through…
Interview:Gabby Asare Otchere-Darko Where do you identify key trade enablers that can boost continental industrialisation? GABBY ASARE OTCHERE-DARKO: The implementation of the African Continental Free Trade Area (AfCFTA) by 2040 is expected to boost intra-African exports by 15-25%, lift 30-50m Africans out of extreme poverty and promote industrialisation. Improving Customs and border procedures…
Interview:Gan Kim Yong What factors have made Ghana an enticing investment destination for Singapore-based businesses? GAN KIM YONG: Ghana is often seen as a home base for companies from Singapore that are looking to expand into West Africa. For one, the use of English as an official language has made doing business in Ghana much more convenient. Ghana is politically stable and has established…
