What changes in the regional economic activities impact Ghana’s growth?
The West African regional trading bloc, Economic Community of West African States (ECOWAS), is moving faster towards regional integration. Recently, agreements were made around harmonizing taxes and tariffs, as well as macroeconomic conditions for convergence. Also, there is a regional stock market in the pipeline, which will boost liquidity and market capitalization across West Africa. It will also boost companies’ access to capital across the region as companies will be allowed to cross list. For a country, like Ghana with a population of just 23 million and a GDP of $16bn, this will make her more attractive to foreign investment. It will also allow her access to other markets in West Africa, as well as access to all the economic benefits associated with an expanded common market. All of this means Ghana’s economy is ready to take off.
