Top 5 Must-Read Business News from Ghana You Shouldn’t Miss
Ghana’s business landscape has been thriving in recent years, with the country being recognized as one of the fastest-growing economies in Africa. It’s essential to keep up with the latest developments in the business sector to stay ahead of the game. Here are the top five must-read business news from Ghana that you shouldn’t miss.
1. Ghana’s Economic Growth Outperforms Other African Countries
According to the World Bank’s recent report, Ghana’s economy grew by 3.1% in 2020, despite the pandemic’s adverse effects. This growth outperformed other African countries and was mainly driven by the country’s agricultural, mining, and service sectors. This news is encouraging, especially for investors who are looking to invest in Ghana’s economy.
2. Ghana Eases Restrictions on Foreign-Owned Retail Businesses
In March 2021, Ghana’s government announced changes to the country’s retail laws that would allow foreign-owned retail businesses to operate in the country. Before this change, non-Ghanaian investors were restricted from certain types of retail businesses, such as selling non-food items in a market. This move could potentially attract more foreign investors to Ghana and boost the country’s economy.
3. MTN Ghana Records Impressive Earnings Despite Pandemic
MTN Ghana, one of the country’s leading mobile network operators, announced impressive earnings for the first quarter of 2021. The company’s profit after tax increased by 18.1%, compared to the same period in 2020. This news is significant because it indicates that the telecommunication industry in Ghana is continuously growing, despite the pandemic’s impact.
4. Ghanaian Government to Issue Bonds Worth $3.025 Billion
In May 2021, Ghana’s government announced plans to issue bonds worth $3.025 billion to help finance the country’s budget deficit and to pay off the government’s debts. The government plans to issue three different bonds, with each bond varying in maturity periods. This move has attracted the attention of investors, who are keen to invest in Ghana’s economic growth.
5. Ghanaian Banks Record Impressive Growth in Deposits
Ghana’s banking industry has been experiencing steady growth over the past few years, with several banks recording impressive growth in deposits. According to the Bank of Ghana’s report, total deposits within the banking industry increased by 18.5% in 2020, compared to the previous year. This news is exciting for investors looking to invest in Ghana’s banking sector.
Conclusion
Keeping up with the latest business news is crucial for anyone looking to invest in Ghana’s economy. The five news items mentioned above are just a few of the many exciting developments happening in the country’s business sector. They demonstrate Ghana’s potential for growth and indicate that the country is a viable investment destination. Stay tuned for more updates on Ghana’s business landscape.
