Who Owns Whom

Ghana

Country Code: 288

ISO2 Code: GH

ISO3 Code: GHA

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
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

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Sector 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

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