Cover of The Report: Ghana 2019

The Report: Ghana 2019

Ghana continues to be one of the most stable countries in sub-Saharan Africa and has developed substantially over the years. Now one of Africa’s fastest-growing economies, the country is starting to move away from traditional resource dependency. However, it faces the challenge of ensuring the widest benefit from that expansion, given its growing and increasingly urbanised population.

After some belt tightening in response to a growing fiscal deficit, in 2017 Ghana saw almost twice the economic growth of 2016, according to the World Bank, with the robust expansion carrying through to 2018. The country had traditionally relied on primary commodities for its earnings, with gold and cocoa principal export items, until significant oil finds recently made Ghana a petroleum exporter. Dependence on such resources has, however, exposed the country to international commodity price fluctuations. Leaders have therefore sought diversification, encouraging domestic agriculture and industry, as well as service sector development.

OBG & Ghana