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Ghana Is One Of The Attractive Countries To Do Business In Africa- Report

Posted by Osei Agyemang

Ghana-West Africa

Rand Merchant Bank’s (RMB) Where to Invest in Africa 2021 has positioned Ghana in the 6th position this year across the continent.

Ghana entered the current emergency on a somewhat more grounded balance than its African friends. The economy figured out how to stay away from a downturn in 2020 and registered growth of 0.4% — beating the SSA economies, which shrunk by 3.2% all things considered.

In light of the rankings, Ghana has additionally beaten other west African nations in terms of its investment attractiveness, emerging as the top destination, followed by Côte d’Ivoire, Senegal and Nigeria.

Ghana’s economy has seen significant growth in the course of recent years, positioning it for more major growth.

This is supported not just by primary sector like oil and gold, but sped up improvement in the tertiary sector.

Ghana sees the construction, agriculture, and services sector as the fundamental impetuses for solid 4.2% average growth somewhere in the range of 2022 and 2023.

This year, the economy has shown a consistent recuperation, with the GDP print in 2Q21 at 3.9%, supported by performance in both the secondary and tertiary sector.

Over the next few years, oil production output will pick up in the near term, supported by higher oil prices that should encourage further oil exploration in Ghana.

There are similar expectations for gold production, which is further supported by government efforts to curb illegal mining activity, thereby promoting the formal sector.

This year’s report surveys the degree of the pandemic’s effect by portraying the scene of the continent pre-Covid-19, and afterward illustrating the two actual and possible results through and post-pandemic.

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RMB made a new arrangement of rankings that joined a portion of the unavoidable Covid-19-incited challenges, of which the working climate score was one.

The report by RMB also incorporated an appraisal of state run administrations’ capacity to support their various economies during such periods. In that capacity, a financial score was additionally important for the approach.

In the next few years, Ghana will focus on government’s capacity to merge monetary spending over the course of the next few years, without a doubt important to mitigate the country’s debt burden.

By and large, the report additionally investigated key subjects exuding from Africa’s formative goals.

RMB is the corporate and investment banking arm of FirstRand Bank Ltd., of which First National Bank Ghana is a member.

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