The Report: Ghana 2018

  • ID: 4471040
  • Country Profile
  • Region: Ghana
  • 244 Pages
  • Oxford Business Group
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FEATURED COMPANIES

  • AB & David Africa
  • Bank of Ghana
  • Ghana Grid Company
  • IPMC
  • Meridian Port Services
  • SIC Life Insurance
  • MORE

Following modest GDP growth in the 2014 -16 period, the recently elected government was under pressure to accelerate economic growth in 2017. In addition to a belt-tightening process, the government introduced a number of reforms, which are beginning to bear fruit.

The government aims to couple the expansion of the resources sector with an aggressive industrial policy, an overhaul of the agricultural sector, and improved access to financial services to ensure greater economic diversification and value addition. A partial rebound in oil and gold prices is also expected to help to stabilise the economy.

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FEATURED COMPANIES

  • AB & David Africa
  • Bank of Ghana
  • Ghana Grid Company
  • IPMC
  • Meridian Port Services
  • SIC Life Insurance
  • MORE

COUNTRY PROFILE

  • Still glittering: Wealth of resources and strong democratic practices bode well for the future
  • Viewpoint: President Nana Akufo-Addo
  • Smooth transitions: Government held accountable by a strong system of checks and balances, with decentralised structures
  • Interview: Vice-President Mahamuda Bawumia, Chairman, Economic Management Team
  • Matters of import: Improved trade ties strengthen relations with foreign partners
  • The right neighbourhood: Membership in regional blocs supports objectives of unity, free trade, and peace and security
  • Interview: Marcel de Souza, President, ECOWAS Commission

ECONOMY

  • Bouncing back: Moves to rein in fiscal spending, industrialise rural areas and jump-start growth provide a new way forward
  • Interview: Ken Ofori-Atta, Minister of Finance
  • Balancing act: Plans to improve business conditions and encourage compliance
  • Global Perspective: Corporate tax rates and liabilities
  • Formal affair: Government initiatives are aimed at increasing the tax base and improving the lending environment
  • Interview: R Yofi Grant, CEO, Ghana Investment Promotion Centre
  • Game plan: The restructuring of the country’s debt is reducing near-term repayment obligations
  • Interview: Akinwumi Adesina, President, African Development Bank

BANKING

  • Safeguarding progress: New reforms aim to maintain secure growth and ensure stability by encouraging consolidation and promoting best practices
  • Interview: Ernest Addison, Governor, Bank of Ghana
  • Starting small: Authorities enforce higher standards to make the microfinance segment more reliable
  • Interview: Archie Hesse, CEO, Ghana Interbank Payment and Settlement Systems
  • Pooling resources: Higher capital requirements may trigger a wave of mergers and acquisitions

CAPITAL MARKETS

  • Taking stock: Following signs of wider economic recovery, supported by government policy, the Ghanaian bourse looks set to benefit
  • Interview: Kofi Yamoah, Managing Director, Ghana Stock Exchange
  • Attractive offerings: Despite some investment challenges, the bourse is finding ways to attract new listings
  • Viewpoint: Roger Adjovu, General Manager, Liberty Capital
  • Market analysis and data provided by Liberty Capital
  • Debt market: Government focuses on increasing long-term debt securities to ensure greater bond market stability
  • Equity market: Positive trading performances across the board despite some suspensions for listed firms

INSURANCE

  • Guiding progress: The government targets double-digit penetration by 2021
  • Consolidated statement: Encouraging mergers to generate risk resilience and boost international competitiveness
  • Interview: Justice Yaw Ofori, Commissioner, National Insurance Commission
  • Interview: Aaron Issa Anafure, Former CEO, SIC Life Insurance
  • Phone lines: Handset penetration drives rising uptake of mobile insurance products and improves access to untapped markets
  • Global Perspective: Reinsurance programmes bolster coverage in emerging markets

ENERGY & UTILITIES

  • Tapping assets: Higher production for export and local use to reinvigorate growth
  • Ready to go: New offshore exploration and production projects set to ramp up
  • In the pipeline: Local natural gas to fuel new thermal power generation projects
  • Interview: Jonathan Amoako-Baah, CEO, Ghana Grid Company
  • Building reliability: Key initiatives boost the provision of energy, water and sanitation
  • Interview: Emmanuel Antwi-Darkwa, Acting CEO, Volta River Authority
  • Private players: Independent producers set to have an increasingly important role

MINING

  • A key contributor: Commodities price rises spur investment growth
  • Strong competition: Legislative change considered to bolster greenfield activity
  • Set in stone: Development of bauxite reserves galvanised by the deal with China

AGRICULTURE

  • Sustainable solutions: Prioritising efforts to lower dependence on imports while bolstering key exports
  • Bittersweet times: Working to bolster cocoa production and emphasise the need to increase processing for higher added value
  • Interview: Owusu Afriyie Akoto, Minister of Food and Agriculture
  • New practices: The government takes measures to improve the management of the fisheries sector and expand production
  • Tech help: Integrating science and technology with traditional sectors
  • Meeting demand: Initiatives are being introduced to increase self-sufficiency

INDUSTRY & RETAIL

  • Force for change: Increased industrialization and diversification seen as vehicles for long-term economic growth
  • Strength in numbers: The administration has embarked on a decentralisation campaign to drive economic growth
  • Fiscal matters: Increasing access to credit remains a government priority
  • Interview: Kais Marzouki, CEO, Nestlé Central and West Africa Region
  • Interview: James Asare-Adjei, Former President, Association of Ghana Industries; and CEO, Asadtek Group
  • A stabilising force: The improving economic and monetary environment should increase competitiveness of exports
  • The right conditions: An expanding middle class could reshape long-term prospects

ICT

  • Net gains: Raising data penetration rates and usage is next on the agenda
  • Network news: A fresh approach is being used in attempts to expand coverage
  • A moveable feast: Expansion of mobile money is boosting financial inclusion
  • Interview: Nana Osei Afrifa, CEO, Vokacom
  • Safe space: The country offers a conducive environment for the industry
  • Coded warning: A shortfall in qualified personnel has made training a high priority for both the public and the private sectors
  • Interview: Jørn Lyseggen, Founder and CEO, Meltwater Group

TRANSPORT

  • Vehicles for growth: The government invests in infrastructure amid rising demand
  • Plane site: The government is supporting airport and airline development
  • Out of gridlock: Population growth is causing increased congestion
  • Interview: Mohamed Samara, CEO, Meridian Port Services

CONSTRUCTION & REAL ESTATE

  • The future holds: A rebound in oil prices and large-scale infrastructure projects help drive growth after a slow period
  • Built to last: Local training and international partners generate new ideas
  • Interview: Karim Ibrahim, Managing Director, Dream Realty
  • Steady as she goes: Increased activity expected as oil prices begin to rebound

TOURISM

  • Transitioning to travel: Political stability, infrastructure improvements and easing of visa restrictions underpin continued growth
  • Interview: Akwasi Agyeman, Acting CEO, Ghana Tourism Authority
  • Local promotion: Marketing efforts are helping show the strength and viability of the sector, while the e-tourism continues to rise

HEALTH & EDUCATION

  • Positive prognosis: Infrastructure investment and public education are driving improvements in primary care
  • Interview: Dr Elikem Tamaklo, Managing Director, Nyaho Medical Centre
  • Live and learn: The government is making good progress on its promise to improve access and outcomes for students
  • Interview: Amardeep Singh Hari, CEO, IPMC
  • School of thought: Private education is providing options for both university students and investors

TAX

  • Deloitte
  • Strong framework: Key tax policy proposals reflect a changing environment
  • Viewpoint: Charles Larbi-Odam, Country Executive, Deloitte Ghana

LEGAL FRAMEWORK

  • AB & David Africa
  • Law of the land: A detailed explanation of the country’s legislative framework
  • Down to business: Recent legislation provides an improved regulatory framework for industries, trade and financial services
  • Viewpoint: David Ofosu-Dorte, Senior Partner, AB & David

THE GUIDE

  • Rest easy: Hotel options across the country
  • Listings: Helpful telephone numbers
  • Facts for visitors: Useful tips for new arrivals
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  • AB & David Africa
  • African Development Bank
  • Asadtek Group
  • Bank of Ghana
  • Deloitte Ghana
  • Dream Realty
  • Ghana Grid Company
  • Ghana Interbank Payment and Settlement Systems
  • Ghana Investment Promotion Centre
  • Ghana Stock Exchange
  • Ghana Tourism Authority
  • IPMC
  • Liberty Capital
  • Meltwater Group
  • Meridian Port Services
  • National Insurance Commission
  • Nestlé Central
  • Nyaho Medical Centre
  • SIC Life Insurance
  • Vokacom
  • Volta River Authority
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