Oxford Business Group Launches 2014 Report On Ghana

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Oxford Business Group
Oxford Business Group

New gas processing plant and fiscal challenges given coverage in latest publication

Oxford Business Group

Ghana, November 2014: Even amidst a tighter fiscal environment and still-challenging global conditions, the impact of higher commodities production — including increased oil and cocoa output — and the rollout of new power infrastructure on Ghana’s investment attractiveness is explored in a new report just produced by the global publishing, research and consultancy firm Oxford Business Group (OBG).

The Report: Ghana 2014 shines the spotlight on the country?s oil and gas industry, charting its infrastructure development, which includes the new Atuabo Gas Processing Plant. The publication also looks at shifts in industry trends, including a move to up the emphasis on downstream products, following heavy investment in refining capacity, and Ghana?s push to boost local participation.

OBG?s new report contains a contribution from President John Dramani Mahama, together with a detailed, sector-by-sector guide for investors. It also features a wide range of interviews with leading representatives, including the Deputy Minister of Finance Mona Helen K Quartey, the Minister of Lands and Natural Resources Nii Osah Mills, the CEO of the Ghana Investment Promotion Centre (GIPC) Mawuena Trebarh and the Governor of the Bank of Ghana Kofi Wampah.

International personalities, including the US Secretary of Commerce Penny Pritzker, the Regional Director for Sub-Saharan Africa and the Sahel at the German Federal Foreign Office Georg Wilfried Schmidt and the President of the African Development Bank Donald Kaberuka also give their views on Ghana?s development.

The Report: Ghana 2014 maps out the country?s efforts to expand and diversify its electricity supply, while considering the role earmarked for the Power Africa initiative in tapping investment for the sector. There is also extensive coverage of the country?s mining industry, which, despite a difficult 2013, remains a key contributor to the economy.

With a modernisation drive under way, OBG?s latest report highlights Ghana?s efforts to breathe new life into its agricultural sector, which remains dominated by cocoa. The publication also mulls the macroeconomic challenges Ghana faces, led by fiscal deficits, inflation and a weaker currency, while analysing the boost that support from the International Monetary Fund (IMF) could help in galvanising a recovery.

Andrew Jeffreys, OBG?s CEO, agreed that while the Group?s report on Ghana had highlighted several macroeconomic issues which needed addressing, the country should remain a draw for investors.

?Ghana?s position as a major regional upstream producer is now firmly established, while fresh finds may well prove significant,? he said. ?With a new gas processing plant in place providing feedstock and boosting efficiency, and other sectors, such as ICT, ripe for expansion, all signs are that Ghana will continue to notch up steady growth, even as its economic base shifts somewhat.?

Regional Editor, Robert Tashima, said that while Ghana?s fiscal situation was undoubtedly challenging and had been exacerbated by softening prices for key exports, a number of the economy?s underlying aspects remained strong. ?If current spending can be brought under control and secondary activity increased – which should be manageable once the gas infrastructure is up and running – then the medium-term outlook is bullish,? he said.

The Report: Ghana 2014 marks the culmination of more than six months of field research by a team of analysts from OBG. The publication assesses trends and developments across the economy, including macroeconomics, infrastructure, banking and other sectoral developments.

The Report: Ghana 2014 has been produced with the Ghana Investment Promotion Centre. Contributions have also been made by the professional services firm Deloitte and Touche Ghana and the law company AB & David. The publication is available in print or online.

 

The Report Ghana 2014

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