When introducing Ghana as a market, peace and stability must be mentioned among its primary assets. In a region marred by occasional instability Ghana has succeeded in remaining a stable democracy for more than 25 years. During this period Ghana has developed into a middle-income country with a growing middle-class. This development induces greater demand for high-quality products and services thus attracting global investors and businesses.
Recent years have brought modest economic growth to Ghana. From a peak of 14 % GDP-growth in 2011, growth has stabilized around 3-4% in recent years. Against this backdrop, the opposition party campaigned during the recent elections by focusing on spurring growth and creating a business-friendly environment. A campaigning strategy that ultimately proved successful as the opposition won the peaceful elections.
The economic outlook for the coming years is consequently positive and growth is expected to rebound to a stable level around 7% annually. In addition to this solid domestic market, Ghana offers a stable hub from which the West-African market comprising some 350 million people can be accessed easily within the ECOWAS framework.
Despite this great potential, Denmark has not yet fully explored the market. Trade volumes remain low despite relatively favourable conditions, particularly for Danish businesses taking advantage of the goodwill generated by the longstanding development cooperation between Denmark and Ghana. This trade promotion delegation offers Danish businesses great opportunities for exploring the massive potential that Ghana has to offer.
Read an e-paper about the transition from aid to trade by clicking the picture or watch a video on the embassy's wall street wing by clicking right here.