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23.02.2012 Business & Finance

'Expect Robust GDP For Ghana'

By Daily Guide
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Robert Tashima, Regional Editor of the Oxford Business Group (OBG), has noted that 2012 is likely to bring robust Gross Domestic Product (GDP) growth to Ghana's economy considering government's economic expansion measures.

Mr Tashima, speaking at the signing of a Memorandum of Understanding (MoU) between his outfit and the Ghana Investment Promotion Centre (GIPC), aimed at producing a report tagged 'The Report: Ghana 2012 ' recently in Accra, stated: 'A number of new projects, including investments in the energy and infrastructure sectors, will help underwrite the country's long-term potential - particularly for the non-traditional sectors such as manufacturing,'

'Ghana will still continue to serve as one of the continent's star performers, thanks to a stream of commodity revenues as well as improved performance in the services sector.'

Tashima added that the expansion of Ghana's banking industry, particularly the setting up of credit bureaux and collateral registry was likely to be instrumental in improving the country's lending environment.

'This in turn has the potential to unshackle significant growth - particularly in the sizeable small and medium enterprise segments,' he said.

'Given the country's continuing dynamism, The Report: Ghana 2012 will perform a key role in helping investors navigate the republic's latest developments,' he noted.

It is also expected to chart the contribution that oil production and commodity wealth made to the country's d ouble-digit growth rates achieved in 2011.

It will further contain a detailed sector-by-sector guide for foreign investors, alongside a contribution from President John Atta Mills and interviews with other prominent political, economic and business leaders.

George Aboagye, Chief Executive Officer of the GIPC, in a speech, noted that Ghana's growth rate was a testament to the country's solid economic fundamentals.

'With a robust commodities sector and a stable political environment, along with a dynamic financial industry and an improving fiscal record, our country has enormous potential to offer investors interested in Africa,  and we believe that ' The Report: Ghana 2012' will further highlight that potential to the global business community. 

Oxford Business Group's long track record of researching and analysing emerging markets, particularly in Africa, means that readers can be assured of accurate and up-to-date information. 

Polina Virr, OBG's Country Director, said the report would play a key role in disseminating information about Ghana's economic potential to foreign investors and decision makers around the world, elucidating both the opportunities and challenges of the country's robust growth.

'With the country's business environment having improved significantly in recent years, and with commercial oil production jumpstarting investment in the western region, The Report: Ghana 2012 comes at a critical juncture for Ghana's economic development,' she said.

'GIPC plays a critical role in facilitating investment in the country and has extensive experience in analysing both the opportunities and challenges of the country's economic climate. Its expertise and extensive resources will help expand our depth and scope of research, ensuring that the Group's second annual report on Ghana will be the landmark reference for the foreign investment community .'

Oxford Business Group (OBG) is a global publishing, research and consultancy firm, which publishes economic intelligence on the markets of Africa, the Middle East, Asia and Latin America.

By Samuel Boadi

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