Research and consulting in Ghana
IOA has carried out extensive research and consulting on Ghana to inform our analysis of today’s challenges and tomorrow’s opportunities in the vibrant West-African country. IOA’s economy analysts note that slowing economic growth is forecast for 2023, but inflation that surged to 15% in 2022 will ease to 9%. The country’s mineral and agricultural wealth continue to provide the bedrock to a diverse economy. Politically, Ghana is one of West Africa’s more stable democracies and performs well on human rights indices, relative to neighbouring countries.
IOA economists have found that a population of more than 34 million offers a lucrative market for domestic-made and imported goods. Most Ghanaians live in the urbanised south, where ocean trade has spurred recent investment in ports upgrades, making Ghana’s sea ports the country’s prime transportation assets.
Key opportunities in Ghana:
- Ghana continues to develop its energy sector with continuing discoveries of off-shore oil deposits
- Expansion also continues of the country’s manufacturing base for domestic consumption and export
- A thriving media sector is unfettered by censorship or government constraints
Key concerns/risks in Ghana:
- IOA analysts note that, with a large segment of the population living along its coast, Ghana is vulnerable to rising ocean level damage, while other effects of global warming are already apparent
- Poverty affects more than a third of urban residents
- Unemployment and economic and social inequities are betraying the country’s founding promise of a good life for all