Ghana’s successive governments always over-spend the country’s budget during election years, but a Deputy Minister […]
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Inflation – According to the Ghana Statistical Service (GSS), inflation remained stable in December, effectively […]
Standard Bank-owned asset manager Stanlib has set up operations in Ghana through the acquisition of the Stanbic Investment Management Services division. It is also pursuing an asset management acquisition in Nigeria, which it hopes to close in the first half of 2015.
South African banks and construction companies have been expanding activities in the rest of Africa, where energy is one of the fastest-growing sectors. The $900m of debt and equity project finance for the Kpone Independent Power Plant and associated infrastructure in Ghana was closed by financiers and industrialists, including several South African banks.
The Lagos Chamber of Commerce and Industry (LCCI), in conjunction with with other private sector participants, is helping to strengthen trading ties between the two West African nations of Ghana and Nigeria.
Delta International Property Holdings, the first JSE listed property fund offering investors direct access to high growth markets in Africa, is targeting properties in Ghana and Nigeria, with an acquisition pipeline of $200m having been identified.
This month eleni, a private company that builds commodity exchanges for frontier markets in Africa, announced that financing had started for a Ghana Commodity Exchange (GCX). The exchange will be created by eleni, the premier developor of commodity exchanges in Africa; it was eleni that developed the Ethiopia Commodity Exchange (ECX) in 2008, which has proved a resounding success.
As stated in the country’s economic plan “Ghana Vision 2020”, Ghana plans to become a developed nation by the year 2020. After that it aims to achieve newly industrialised status by 2030. Key to these goals is Ghana improving its ICT infrastructure and penetration rate.
Africa Brief: Edgar’s and Jet set to open in Ghana, Pirates threaten Gulf of Guinea’s oil trade and more…
Edcon, the owner of Edgars and Jet, has announced that they will be opening new stores in Ghana and Nigeria in the next year. The region has caught the eye of retailers in search of higher yields and untapped consumer spending potential.
Africa Brief : Indian Bank promotes African Investments, AngloGold to cut Ghana mine jobs in mechanizing efforts and more …
SA is among 15 African economies identified by the Export-Import Bank of India (Exim Bank) as an alluring investment and export destination, says the bank’s executive director David Rasquinha. The bank’s role includes promoting infrastructure development in African countries while facilitating private sector development.
Africa Brief: Ghana plans oceanic terminal for imported LNG, Prosecutors Face big test as Ruto appears before ICC and more
In this Africa Brief: Ghana plans to build a floating liquefied natural gas (LNG) terminal off its Atlantic Ocean coast to receive imported gas that would be used to produce up to 1.500MW of electricity by 2016, a senior energy official said in Nairobi yesterday. Kenya’s deputy president appeared before the International Criminal Court (ICC) yesterday charged with co-orchestrating a post-election bloodbath five years ago, a case that will test the stability of a country seen as vital to security in East Africa. Grindrod is already considering a third phase expansion of its car terminal at Maputo port in Mozambique, which is a growing competitor to Trans-net’s car facility in Durban… and more.
Ghana continues to experience impressive and sustained growth across a number of sectors, and for this reason the country appears on our list of key economies in Africa. It is important to note that the country registered one of the highest economic growth rates in the world in 2011.
Africa Brief: Violence in Egypt knocks markets, Ghana’s consumer price inflation, oil thieves in Nigeria and more
Egyptian shares have slumped after police moved to disperse two anti- government sit-ins in Cairo, leaving at least 13 dead. The benchmark EGX 30 index retreated 1.1 percent to 5585.12 at 11.11am in Cairo. The death toll reported by the Health Ministry was disputed by the Muslim Brotherhood, which claims hundreds were killed by security forces…
More than 4 500 Chinese had left Ghana since a crackdown on illegal mining began last month, with the illicit industry having drawn scores of Chinese to the country an official said on Friday Ghana Immigration Services spokesman Francis Palmdeti said that between June 1 and July 3, a total of 571 Chinese had been arrested or had voluntarily turned themselves over to immigration authorities in Ghana.
Africa is home to some the world’s fastest growing economies, many of them buoyed by new oil and gas finds. Ghana is one of these economies. The country discovered its first large-scale, commercially viable oil field in June 2007. The Kosmos Energy team discovered the Jubilee oil field following the drilling of the Mahogany-1 exploration well in Ghana’s deep waters. A string of discoveries in the Jubilee offshore oil field from 2007 onwards has resulted in Ghana’s confidence in a reserve of around 1.5 billion barrels, with a potential upside of 2 billion barrels from adjacent sites.
Africa Brief: Africa experiencing surge in sovereign funds, Zambia, Ghana, Rwanda seals 4G internet deal and more
Africa is experiencing the strongest growth in new sovereign wealth funds in the world as its nations are amassing commodity revenues and foreign-exchange reserves, JP Morgan Asset Management said yesterday. During the past two years, 15 state funds have been set up or are being considered in Africa, the group’s global head of sovereigns Patrick Thomson said.
The rebasing of Nigeria’s gross domestic product (GDP), which is expected to increase the estimated size of Africa’s second-largest economy by about 40 percent, was likely to be delayed until next year. The recalculation will enable Nigeria to join the ranks of middle-income countries and put it much closer in size to South Africa, the continent’s most developed economy.
A panel of experts explore the challenges & opportunities associated with investing in Ghana.
Ghana is one of Africa’s fastest growing economies. Well-endowed with natural resources, agriculture accounts for approximately a quarter of GDP and employs more than half the country’s work-force.
Gold, cocoa and timber exports are the major sources of foreign exchange. Imports such as capital equipment, petroleum and food products are sourced mainly from China and the US.
Uganda will auction 13 blocks for oil and gas exploration when a new bill governing the petroleum sector is signed into law by the President Yoweni Museveni.
Ghana’s producer price inflation rose in December to 17.1% from 15.8% in November, due to increasing gold prices.
Everywhere in the world where there is a growth in the mining industry, a vacuum quickly develops around education and skills development. Simply put, there is simply not enough human resources in the mining industry globally to cater for the significant growth in the industry. Ghana is not escaping the huge pressure its mining industry faces when it comes to education and skills development.
I am of the view that Ghana, as a country, is at a tipping point, when it comes to foreign investor decisions as to whether the country is a friendly or hostile investment destination. As everywhere else in the world, investors in the mining industry require clarity and certainty around government’s support to the industry. Major tax reforms similar to the ones proposed and currently enacted in Ghana does not assist in providing such certainty.
Balancing Rules and Flexibility for Growth is a follow up study to KPMG in Singapore […]
KPMG is proud to announce the inaugural edition of its Africa Cyber Security Conference in […]
Global Talent Competitiveness Index (GTCI) 2017 Talent competitiveness measures a country’s capability to compete for […]
As in most parts of the world, football is the most popular sport across the […]
While on a road show for US clients, Bryan Leith, chief operating officer of KPMG’s […]
The KPMG Good Life Index, the first of its type for Africa, was recently released. […]
The World Bank published its latest ‘Africa Pulse’ report on September 29. In it the […]
Why the CST is a bad idea At first glance, the introduction of this tax […]
In 2Q2014, Nigeria emerged as Africa’s largest economy with an estimated GDP of $479 billion, […]
Advising Africa conglomerate, Dangote to help achieve ambitious expansion plans. Already one of the largest […]