Ghana


Country Economic Snapshot
2021-08-24
The Republic of Ghana is viewed as a gateway to West Africa, and is rapidly becoming a maritime trading hub of strategic importance. It has a population of 29 million people and a GDP of US$68.4bn in 2020.
Ghana is bordered by Côte d’Ivoire, Burkina Faso, Togo, the Gulf of Guinea and the Atlantic Ocean, with a coastline measuring 539km. Lake Volta has 1,125km of waterways stretching from the coast through the country to landlocked Burkina Faso.
Ghana’s services sector contributed 53.3% to the country’s GDP in 2015, followed by industry at 26.6% and agriculture at 20.2%. Ghana’s middle class comprised 1.3 million households or just over 5% of the population in 2014, and this is expected to increase by 1.6 million by 2030.
The country’s mineral wealth includes gold, manganese, industrial diamonds and bauxite and unexploited deposits of columbite-tantalite, ilmenite, iron ore, limestone, lithium and rutile, while aggregates, bauxite, clay, diamonds, gemstones, gold, manganese, silica sand and silver are also produced. Gold is the most important mineral produced, and accounts for more than 90% of mineral revenues. There has also been a discovery of commercial quantities of oil and gas at the Jubilee Field off Cape Three Points, which has fast-tracked infrastructural development at the Port of Takoradi.
Other industries of importance in Ghana are shipbuilding, light manufacturing, cement manufacturing, aluminium smelting, lumbering, cocoa and other food processing.
In the second quarter of 2020, the Ghanaian economy shrank by 3.2%, its first contraction in four years, following growth of 4.9% in the first quarter. With the easing of pandemic-related restrictions, economic activity has improved, but weak oil prices are expected to constrain economic recovery. While the economy grew by 0.9% in 2020, its lowest growth rate in 30 years, growth is projected to increase to 4% in 2021 and 4.1% in 2022.
For the first seven months of 2020, Ghana recorded a budget deficit of 7.4% of GDP. Economists attributed the widening of the budget deficit to reduced tax revenue resulting from the slowdown in economic activity, coupled with government spending on pandemic-related support measures. In September 2020, ratings agency S&P Global Ratings lowered Ghana’s long-term foreign and local currency sovereign credit ratings to B- with a stable outlook. S&P expected the fiscal deficit to expand to 13.5% of GDP, with government debt remaining above 70% until 2023.
Ghana’s long-term National Development Plan (NDP 2018 – 2057) incorporates ten four-year medium-term plans from 1 January 2018 until 31 December 2057. The proposed framework is informed by the United Nations’ 15-year Sustainable Development Goals (SDGs), the 50-year Agenda 2063 of the African Union, the Constitution of Ghana and existing legislation, as well as the input of state and civic organisations, professional associations and other stakeholders. The NDP provides for the development of port infrastructure. To attract intercontinental vessels, Ghana Ports and Harbours Authority has made significant investments in port infrastructure expansion and modernisation.
Info
Capital | Accra |
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Currency (Name, Abbreviation, Symbol) | Ghanaian cedi , GHS , GHS |
Area | 238,533 sq km |
Type of Government | constitutional democracy |
Languages | Asante 14.8%, Ewe 12.7%, Fante 9.9%, Boron (Brong) 4.6%, Dagomba 4.3%, Dangme 4.3%, Dagarte (Dagaba) 3.7%, Akyem 3.4%, Ga 3.4%, Akuapem 2.9%, other (includes English (official)) 36.1% (2000 census) |
Natural Resources | gold, timber, industrial diamonds, bauxite, manganese, fish, rubber, hydropower, petroleum, silver, salt, limestone |
Type of Industry | mining, lumbering, light manufacturing, aluminum smelting, food processing, cement, small commercial ship building |
Stock Exchange | Ghana Stock Exchange |
Stock Exchange Location | Accra |
Stock Exchange Founded | 1990 |
Tax Rate: Corporate | 25% |
Tax Rate: Individual | 25% |
Natural Resources | gold, timber, industrial diamonds, bauxite, manganese, fish, rubber, hydropower, petroleum, silver, salt, limestone |
Latest available information as sourced from:
African Markets
Trading Economics
Economy Watch
The World Fact Book
KPMG Tax Tables
Company Profile
There is no data available at the moment
Sector Research
[4] Construction
4483, The Construction Industry in Ghana, (2017-02-09), Ghana, 502 3178, The Infrastructure Industry in Ghana, (2015-10-19), Ghana, 502 3089, The Infrastructure Industry in Ghana , (2015-04-20), Ghana, 502 3049, The Infrastructure Industry in Ghana, (2014-10-21), Ghana, 502[5] Food & Beverage
5381, The Wholesale and Retail of Food in Ghana, (2021-09-21), Ghana, 61221; 62110 5304, The Beverages Industry in Ghana, (2021-04-08), Ghana, 30510; 3052; 30530; 61222 4515, Wholesale and Retail of Food in Ghana, (2017-06-27), Ghana, 61221; 62110 3230, Wholesale and Retail of Food in Ghana, (2015-12-15), Ghana, 61221; 62110 3145, The Beverages Industry in Ghana, (2015-07-31), Ghana, 30510; 3052; 30530; 61222; 62110Sector Research
CompanyName | Stock Exchange | Listed Date | Ticker Code | Country | Status |
---|---|---|---|---|---|
Access Bank (Ghana) PLC | Ghana Stock Exchange | 2016-11-25 | ACCESS | Ghana | Active |
Agricultural Development Bank Ltd | Ghana Stock Exchange | 2016-12-20 | ADB | Ghana | Active |
Aluworks Ltd | Ghana Stock Exchange | 1996-11-29 | ALW | Ghana | Active |
Benso Oil Palm Plantation PLC | Ghana Stock Exchange | 2004-04-16 | BOPP | Ghana | Active |
CAL Bank Ltd | Ghana Stock Exchange | 2004-11-01 | CAL | Ghana | Active |
Camelot Ghana Ltd | Ghana Stock Exchange | 1999-09-17 | CMLT | Ghana | Active |
Clydestone Ghana Ltd | Ghana Stock Exchange | CLYD | Ghana | Active | |
Cocoa Processing Company Ltd | Ghana Stock Exchange | 2003-02-14 | CPC | Ghana | Suspended |
Dannex Ayrton Starwin PLC | Ghana Stock Exchange | 2020-01-15 | DASPHARMA | Ghana | Active |
DigiCut Production and Advertising PLC | Ghana Stock Exchange | 2018-04-11 | DIGICUT | Ghana | Active |
E.S.L.A. PLC | Ghana Stock Exchange | 2017-11-05 | ESLA | Ghana | Active |
Ecobank Ghana Ltd | Ghana Stock Exchange | 2006-07-00 | EBG | Ghana | Active |
Enterprise Group Ltd | Ghana Stock Exchange | 1992-02-21 | EGL | Ghana | Active |
Fan Milk PLC | Ghana Stock Exchange | 1991-10-18 | FML | Ghana | Active |
GCB Bank Ltd | Ghana Stock Exchange | 1996-05-17 | GCB | Ghana | Active |
GOIL Company Ltd | Ghana Stock Exchange | 2007-11-16 | GOIL | Ghana | Active |
Golden Star Resources Ltd | Ghana Stock Exchange | 2008-02-15 | GSR | Ghana | Active |
Guinness Ghana Breweries PLC | Ghana Stock Exchange | 1991-08-23 | GGBL | Ghana | Active |
HORDS PLC | Ghana Stock Exchange | 2015-08-10 | HORDS | Ghana | Active |
Intravenous Infusions PLC | Ghana Stock Exchange | 2015-12-15 | IIL | Ghana | Active |
Mega African Capital Ltd | Ghana Stock Exchange | 2014-04-23 | MAC | Ghana | Active |
Meridian-Marshalls Holdings Company Ltd | Ghana Stock Exchange | 2015-04-22 | MMH | Ghana | Active |
PBC Ltd | Ghana Stock Exchange | 2000-05-17 | PBC | Ghana | Suspended |
Pesewa ONE PLC | Ghana Stock Exchange | 2021-03-24 | POP | Ghana | Active |
Republic Bank (Ghana) PLC | Ghana Stock Exchange | 1995-05-07 | HFC | Ghana | Active |
Sam-Woode Ltd | Ghana Stock Exchange | 2002-04-24 | SWL | Ghana | Suspended |
Samba Foods Ltd | Ghana Stock Exchange | 2015-05-12 | SAMBA | Ghana | Active |
Scancom PLC | Ghana Stock Exchange | 2018-09-05 | MTNGH | Ghana | Active |
SIC Insurance Company Ltd | Ghana Stock Exchange | 2008-01-25 | SIC | Ghana | Active |
Societe Generale Ghana Ltd | Ghana Stock Exchange | 1995-10-13 | SOGEGH | Ghana | Active |
Standard Chartered Bank Ghana Ltd | Ghana Stock Exchange | 1990-11-12 | SCB | Ghana | Active |
Total Petroleum Ghana PLC | Ghana Stock Exchange | 1991-07-19 | TOTAL | Ghana | Active |
Trust Bank Ltd | Ghana Stock Exchange | 2002-11-15 | TBL | Ghana | Active |
Unilever Ghana PLC | Ghana Stock Exchange | 1991-08-23 | UNIL | Ghana | Active |
Top Ghana Reports
The Wholesale and Retail of Food in Ghana
R 9 500.00(ZAR) estimated $ 586.15 (USD)*




The Beverages Industry in Ghana
R 9 500.00(ZAR) estimated $ 586.15 (USD)*




Sea and Coastal Water Transport in Ghana
R 6 500.00(ZAR) estimated $ 401.05 (USD)*



