We head back to Ghana for more legal market insights.
This time with Nana. Nana is a legal and compliance professional with nearly a decade of experience in corporate law, regulatory compliance, and high-value land transactions.
Ghana's economic growth is subject to huge fluctuations: in the past years, growth has ranged from 0.9 per cent (in 2020) to 14 per cent (in 2011). Then, as a result of the COVID-19 pandemic, the economy shrunk massively in 2020, picking up only slowly in 2021 and 2022.
Afriwise recently reported “The recent change in government (on the back of the ongoing ECF Arrangement and other global issues such as new US policies in the Trump era) introduces fresh dynamics into Ghana’s economic trajectory. It may have significant implications for fiscal policy, investor confidence, and regulatory reform especially in the financial services sector and the capital markets. Our sector specific outlook for 2025 is as follows. We expect macroeconomic stability and debt sustainability to be the key goals for 2025. Towards that, the new government is expected to continue implementing the relevant policies and reforms under the ongoing ECF Arrangement. This will be alongside the fiscal policy objectives of the new government under the NDC Manifesto, which include the reduction of government expenditure, fiscal deficit and public debt to sustainable levels as well as enhanced revenue mobilisation and capital investments to spur economic growth and job creation. Investors and analysts will be waiting to see how the 2025 budget statement addresses these key points.”
For more details, contact Rob Green on rob@thegrmgroup.com
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