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 coffee 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 discovered oil. 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.
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