Ghana’s economy barely equates to even 10% of Africa’s largest, Nigeria. Yet the relatively tiny nation attracts more investor dollars per capita than its giant neighbour – US$28 million compared to US$21 million.
A report by the Global Impact Investing Network states that Ghana contributes 5% to West Africa’s total GDP, and that the country can attribute its capital investment to the lower costs of doing business and a more stable political climate.
However, according to a Quartz Africa report, Ghana’s title as an attractive capital investment destination may be under threat as the country has experienced a steady decline in real GDP growth, which dropped from a peak of 14% in 2011 to 4% last year. This was as a result of sharp currency depreciation, rising inflation, high levels of government debt and slowing growth in key sectors.
