Ghana’s President Nana Addo Dankwa Akufo-Addo has officially received the inaugural copy of Oxford Business Group’s (OBG) annual economic report titled "The Report: Ghana 2024."

The report was presented during a meeting involving the President, the Oxford Business Group, and the Ghana Investment Promotion Centre (GIPC) in Accra on Tuesday, August 27, 2024.

This publication delves into the factors contributing to Ghana’s positive economic growth trajectory, noting that the IMF has revised its 2024 GDP growth forecast to 3.1% due to favorable fiscal and structural reforms and sound monetary policies.

It also examines the effects of these policy changes and offers insights into how Ghanaian businesses are leveraging efforts to enhance regional economic growth and integration in the emerging African Continental Free Trade Area.

Presenting the first copy to President Akufo-Addo underscores the report’s significance as a valuable resource for the country’s leadership and economic strategists.

The report delivers a detailed analysis of Ghana’s economic landscape, highlighting growth drivers, investment prospects, and the overall economic outlook. It also assesses the influence of government policies on the business climate and Ghana’s role in regional economic integration.

Notably, the report addresses recent advancements in infrastructure development and their effects on Ghana’s economic productivity and export capabilities.

Ramona Tarta, OBG’s Country Director for Ghana, emphasized the importance of the report and the collaborative efforts with the Ghanaian government and the Ghana Investment Promotion Centre (GIPC).

“The Report: Ghana has long been a reference for decision-makers both in Ghana and around the world. It is therefore fitting that we were able to present the President himself with the first copy of this important and detailed economic research on Ghana’s economy, along with our partners GIPC, who were instrumental in all our research activities in Ghana,” Tarta said.

“The report is distributed directly to Oxford Business Group subscribers via the OBG terminal, and through its partners: Dow Jones Factiva, Bloomberg Professional Services, Refinitiv Eikon, among others. GIPC is distributing the digital report to their entire database of over 10,000 entrepreneurs, businesses, diplomats in Ghana and around the world.” She added.

President Akufo-Addo acknowledged the report's importance, stating, “FDI inflows are a critical pillar of Ghana's economic development, as our dynamic growth is simply not possible without the presence of international investors. Business leaders' access to accurate information and analysis is a key driver of the global interest in our economy. Therefore, we thank Oxford Business Group for including Ghana in your portfolio of countries and offer you warm congratulations on completing another annual report on our economy.”

“The GIPC takes great pride in its ongoing partnership with the Oxford Business Group (OBG) in producing the very informative Ghana Report.” said Yaw Amoateng Afriyie, Deputy CEO of GIPC, who was also in attendance at the meeting. “It is packed with reliable insights on the Ghanaian economy across various sectors, the OBG Report has become an essential tool for promoting Ghana. It serves as a trusted reference guide for both international and domestic businesses, attracting new investors and empowering those already established here.”

“Ghana is at a pivotal moment in its economic trajectory. A number of key international actors are creating continent-wide cross-border payment systems to boost economic integration and growth in Ghana and across Africa more widely, with a longer-term commitment to boosting prosperity for all.” Mike Ogbalu, Mike Ogbalu, CEO of PAPSS.

As Ghana continues to pursue ambitious economic goals aimed at sustainable development and attracting foreign investment, The Report: Ghana 2024 serves as an essential tool for investors, policymakers, and businesses looking to navigate the evolving market dynamics.

Produced in partnership with GIPC, the report is expected to contribute to informed decision-making among business and political leaders. Oxford Business Group would also like to thank its partners: Afreximbank, Africa Prosperity Network, Minerals Income Investment Fund, Association of Ghana Industries, PwC, and Koranteng & Koranteng for their important contributions to The Report.