GET.invest

Close
Best results
Full meaning African Union Community of Sahel–Saharan States Common Market for Eastern and Southern Africa Economic Community of West African States Foreign direct investment Gross domestic product Inclining block tariff(s) International Monetary Fund Independent power producer Kilowatt Kilowatt hour Liquid petroleum gas Megawatt Pay as you go Power purchase agreement Private public partnership Standard and Poors Global Ratings Sub-Saharan Africa Transmission and distribution Time of use West African Economic and Monetary Union United Nations Industrial Development Organization Value added tax World Bank Regulatory Indicators for Sustainable Energy General government debt-to-GDP ratio measures the gross debt of the general government as a percentage of GDP. Debt is calculated as the sum of the following liability categories (as applicable): currency and deposits; debt securities, loans; insurance, pensions and standardised guarantee schemes, and other accounts payable. This percentage is calculated from the number of mobile cellular subscriptions per 100 adults. Occasionally a single user will have more than one mobile subscription and so it is possible for this value to exceed 100%. 190 countries ranked This includes all renewable energy sources (solar, wind, small hydro, geothermal and biomass and waste), and excludes large hydro (above 50 MW) and nuclear. Disclosed share of foreign investment in the clean energy sector (of both local and foreign investment in clean energy, this tells us the amount of foreign investment in clean energy). This includes all renewable energy sources (solar, wind, small hydro, geothermal and biomass and waste), and excludes large hydro (above 50 MW) and nuclear. Upgraded in September 2018 If already assembled into a generating set (e.g. a SHS), the duty is 5%. As per the ECOWAS 2017 CET As per the ECOWAS 2017 CET Ghana's VAT rates are reported in its Harmonized System and Customs Tariff Schedule (which also includes the applicable ECOWAS import duties) The median time (the value for 50 percent of shipments) from port of discharge to arrival at the consignee. Refers to all types of entry ports. Unit is days. Year is 2018, unless specified otherwise. The real economic growth, or real GDP growth rate, measures economic growth as it relates to the GDP from one period to another, adjusted for inflation, and expressed in real terms as opposed to nominal terms. The real economic growth rate considers inflation in its measurement of economic growth, unlike the nominal GDP growth rate, which does not. 167 countries ranked. Scores are averaged across 2012, 2014, 2016 and 2018 with the last year weighing most of the score. See "Source" below for more details.

The components analysed in the International LPI include:
• The efficiency of customs and border management clearance;
• The quality of transport infrastructure;
• The ease of arranging shipments;
• The quality of logistics services;
• The ability of tracking and tracing;
• The frequency with which shipments reach consignees within expected delivery times.

Overview

Ghana’s economy continues to show strong expansion in 2019, maintaining real gross domestic product (GDP) growth above 6% for the third consecutive year. Improving fundamentals are reflected by a Standard & Poor’s (S&P) ratings upgrade from B- to B in September of 2018. Another positive signal is per capita GDP, which grew by 26.7% since 2015 to almost €2,000 in 2019.

Over the last five years, Ghana has been able to steadily decrease its inflation rate to a more manageable 8.2% in 2019, down from a high of 17.5% in 2016. Exchange rates have remained relatively stable since 2015, albeit with a steady depreciation of the Ghanian cedi (GH₵) against major global currencies. Relative to the euro, the cedi depreciated more than 30%, with the price of a single euro rising from less than GH₵4 in 2015 to almost GH₵6 in 2019.

Foreign direct investment (FDI) as a proportion of GDP has declined by about 1% year-on-year between 2016 and 2018, yet remains above 4.5%, which exceeds many other African nations. In absolute terms, foreign investment decreased by about €322 million between 2017 and 2018 to just under €3 billion. FDI in the country is promoted by the Ghana Investment Promotion Council (GIPC), who also oversees the implementation of incentive schemes such as exemptions on import duties. Solar panels incur no import duty, unless pre-assembled into a generating set (like SHS), in which case a 5% duty applies. Wind turbines and batteries are charged 5% and 20% import duty, respectively. The standard VAT rate of 15% applies to solar panels, wind turbines and batteries.

Investment into clean energy has been sporadic over the last few years. Investment spiked from €19 million in 2015 to €91 million in 2017 and contracted to around €25 million in 2018. Foreign investment accounted for 87% and 84% in 2017 and 2018, respectively, despite the substantial difference in investment volumes.
Regional affiliation
AU, CEN-SAD, ECOWAS
Official language(s)
English
National currency
Cedi
Presence of port
Yes
Port of Tema
Next planned election and cycle length
Presidential elections:
2020 (4-year cycle)
Parliamentary elections:
2022 (5-year cycle)

Demographics

Population
% urban population of total population
% rural population of total population
Population growth rate
Working age (15-64) share of total population
Working age (15-64)
Rest of population
Urbanisation rate (% urban population growth)

Connectivity

Mobile telecom operators
Airtel Tigo
MTN
Vodafone
All three connectivity indicators
% penetration of mobile cellular subscriptions
% penetration of mobile money
% population with access to internet

Logistics, Import duties and value added tax

Logistics

Median lead time to import
2018
1 days
Aggregated Logistics Performance Index ranking
2018
101

Import Duties and Value-Added Tax

Import Duties
Solar panels
Wind turbines
Batteries (for renewable energy storage)
20%
VAT
Solar Panels
Wind turbines
15%
Batteries (for renewable energy storage)
15%

Business intelligence

Energy Ranking

Climatescope ranking
2019
63
2018
50
2017
32
2016
29
2015
28
WB RISE ranking
2018
64
2016
62
2014
Not ranked

Economy

GDP
Real GDP growth
GDP/capita, real
SSA average
GDP/capita, real
SSA average
GDP/capita, real
Debt to GDP ratio (gross debt)
Inflation rate
Exchange rate
Currency exchange rate vs. EUR and USD
Currency exchange rate vs. EUR
Currency exchange rate vs. USD
Total volume of clean energy investment
% foreign investment in clean energy
2018
84.00%
2017
87.00%
Methodologies
Get to know how this Country Brief was developed
Read more
Contact
Questions or feedback are always welcome
info@get-invest.eu