After a tough couple of years, Ghana is back on track as an investment opportunity. It has a stable multiparty democracy and a predictable operating environment, and it serves as key entry point into West Africa.
In our latest Ghana country outlook, we note that the economic turnaround that began in 2016 and accelerated through 2017, has continued in 2018. The government remains committed to attracting foreign direct investment, in part to meet an infrastructure funding gap of at least $1.5 billion a year.
The government’s aim to create a conducive business environment that promotes inclusive growth without compromising fiscal consolidation. In this context, it has passed laws to encourage foreign investment and replaced regulations perceived as unfriendly to investors. As a result, the telecom and financial services sectors are gaining ground on agriculture and agri-processing in terms of attracting investment, and further growing opportunities exist in manufacturing, ICT, infrastructure, renewable energy and tourism. Factor in minerals and oil, and Ghana’s black star has never shone brighter.