The Report: Ghana 2022

As Africa’s largest gold miner and the world’s second-largest cocoa producer, Ghana has witnessed steady growth in recent years. While the country was impacted by the Covid-19 pandemic, it navigated the crisis better than many of its income-level peers, in large part thanks to measures aimed at boosting public revenue. Ghana aims to improve its fiscal deficit in 2022 to 7.4% of GDP.

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. The most recent general elections, held in December 2020, were favourably assessed by observers who noted that they represented a continuation of democratic processes. 

However, the public’s assessment of the economy was more muted, with many Ghanaians experiencing increasingly difficult living conditions due to the pandemic. In response, the government has identified employment, infrastructure, education and health as top priorities in the years to come.