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Doing Business in Ghana

Doing Business in Ghana

The industry sector recorded the highest growth of 11.5%, compared to 1.8% in 2016, mainly from mining and petroleum. The agriculture sector grew by 7.6%, up from 5% the previous year, driven by good performances in the crops, fisheries, and cocoa sub-sectors. Growth in the services sector slowed to 3.7% from 6.6%, due to slower growth in information, communication, and finance.

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WHY THIS MATTERS

The services sector is the biggest contributor to GDP accounting for 57%, followed by Industry with 24% and Agriculture with 19%. The industry sector recorded the highest growth of 11.5%, compared to 1.8% in 2016, mainly from mining and petroleum.

The agriculture sector grew by 7.6%, up from 5% the previous year, driven by good performances in the crops, fisheries, and cocoa sub-sectors. Growth in the services sector slowed to 3.7% from 6.6%, due to slower growth in information, communication, and finance.

Outstanding credit to the private sector grew by 16.2% in May 2017, against 10.1% for the same period in 2016.

Ghana’s near term economic prospects are good as evidenced by the half-year fiscal performance, though global interest rate hikes are likely to impact high domestic and external financing costs. Overall GDP is projected to rebound to 6.1% in 2017 and this is expected to be driven mainly by oil production.

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KPMG

13 Yiyiwa Drive  Abelenkpe

P.O.Box GP
242  Accra

Tel: +233 302 (0)770454, 770618, 770712

email: info@kpmg.com.gh  

web: www.kpmg.com.gh

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KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

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