Oxford Business Group launches 2019 publication on country’s economy
The regulatory reforms and other measures aimed at strengthening Ghana’s financial sector, which include stricter capital requirements, new issuances and plans to deepen the capital markets and encourage their wider use among the population are explored in the latest annual report from the global research and consultancy firm Oxford Business Group (OBG).
The Report: Ghana 2019 considers the key role that changes to the legislation governing public-private partnerships are expected to play in attracting new investment for several large-scale developments across the transport, agro-industrial, energy and power segments.
It also looks in detail at Ghana’s plans to bring the private sector on board for its major infrastructure projects and social initiatives. In separate coverage, OBG’s report shines a spotlight on the country’s hydrocarbons industry, analysing both the potential that the extensive offshore oil reserves hold, alongside Ghana’s hopes of carving a niche as a regional refining hub.
The government’s bid to address challenges that have long weighed on Ghana’s mining industry, including illegal activity and environmental concerns, is also examined.
Ghana’s ICT sector is another area of focus. The report charts the progress made following the country’s decision to roll out 4G networks as a way of bolstering the digital start-up ecosystem and supporting future growth. OBG also tracks the national drive under way to increase industrial output and exports, especially within the value-added manufacturing component.
The Report: Ghana 2019 contains viewpoints by President Nana Akufo-Addo and Vice-President Mahamudu Bawumia, together with a detailed sector-by-sector guide for investors. It features a wide range of interviews with other high-profile personalities, including: Ken Ofori-Atta, Minister of Finance; Rona Fairhead, Minister of Trade and Export Promotion, UK Department for International Trade; Ernest Addison, Governor, Bank of Ghana; Daniel Ogbarmey Tetteh, Director General, Securities and Exchange Commission; Daniel Addo, CEO, Consolidated Bank Ghana; and Paul McDade, CEO, Tullow Oil.
Commenting ahead of the launch, OBG’s Editor-in-Chief, Oliver Cornock, said that measures to encourage greater private-sector participation in essential infrastructure projects and attract new investment were supporting Ghana’s longer-term bid to achieve middle-income status.
“Despite facing a number of persistent challenges, the government has committed itself to spending on a raft of large-scale projects in its 2019 budget,” he said. “This expansionary stance is expected to deliver significant benefits longer term, while also providing new openings for investors.”
Regional Editor for Africa, Souhir Mzali, added that OBG’s report had also highlighted several key steps taken in Ghana to shore up the financial sector and increase fiscal discipline.
“Regulators have implemented measures to ease the impact of fluctations in commodity prices, while a drive to bring the private sector on board for more of the country’s infrastructure development will help the state to spread risk and save revenue,” she said. “Overall, the macroeconomic indicators suggest another year of robust growth for Ghana.”
The Report: Ghana 2019 marks the culmination of more than 12 months of field research by a team of analysts from Oxford Business Group. The publication assesses trends and developments across the country, including those in macroeconomics, infrastructure, banking and others.
The Report: Ghana 2019 has been produced with the Ghana Investment Promotion Centre, the Association of Ghana Industries, STANLIB and PwC. It is available online and in print.
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