Country Profile
From The Report: Ghana 2024
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The first country in Africa to achieve independence from the UK, Ghana has been widely regarded as a stable democracy, economic powerhouse and key player on the continent since the establishment of the Fourth Republic of Ghana in January 1993. However, recent economic challenges have resulted in acute financing issues, depreciation of the local currency and high inflation, while real GDP growth slowed to 3.1% in 2022 from 5.1% the previous year. Despite these pressures, Ghana aims to become a leading centre on the continent for financial services, and the federal budget for 2023 was demonstrative of the country’s willingness to pursue strategic investment to boost and retain foreign direct investment inflows.

This chapter contains a viewpoint from President Nana Akufo-Addo, and interviews with Gan Kim Yong, Singapore’s Minister for Trade and Industry; and Gabby Asare Otchere-Darko, Founder and Executive Chairman, Africa Prosperity Network.