Background: Ghana is an English-speaking West African country with GDP in the region of $40 billion and a population of 27 million people. Ghana is a major exporter of gold and cocoa and is currently diversifying its economy into the services sector.
The country has a good track record of good governance and democratic system. Ghana has cocoa, gold and forestry but also recently
The table below reflects Ghana’s main trade partners by percentage (source: UNCTAD):
Geo-Economic Structure: Ghana’s key sectors are gold which contribute to 37% of exports, cocoa which contributes to 24% of exports and oil contributes to 17% of exports. The Ghana economy grows by an average of 3.5% per annum.
The weakness in the oil, gold and cocoa prices resulted in the government obtaining a 3-year facility from the IMF of approximately $940 million. The country’s governance structures are improving rapidly which puts it in good stead to grow faster, therefore making Ghana a satisfactory investment destination.