Magazine article African Business

Welcome to Ghana: Africa's Golden Gateway

Magazine article African Business

Welcome to Ghana: Africa's Golden Gateway

Article excerpt

Ghana is undoubtedly the most dynamic economy in West Africa. For the second year running, Ghana was recognised as a top global reformer by the World Bank, in its Doing Business 2008 report. Ghana was also a winner at the CBC-African Business Awards 2008, for the 'Best Investment Climate'. It has become the preferred destination for doing business.

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Formerly known as the Gold Coast, Ghana became independent from British rule on 6 March 1957 and was the first African nation south of the Sahara to gain independence.

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Ghana offers many tourist attractions (such as castles and forts, beaches and lakes, wildlife parks and mountain trails) which along with Ghanaian hospitality and excellent personal security conditions, contribute to the good quality of life enjoyed by those working and living in the country.

The Ghanaian economy is built on the abundance of mineral, agricultural and other natural resources which include forests, vast areas of arable land and deposits of gold, diamonds, manganese, bauxite and oil. There are rich marine fishing reserves in the Atlantic Ocean and offshore deposits of hydrocarbon and natural gas.

Ghana has retained its position as the 2nd largest producer of cocoa in the world. It has an economic growth rate of 6.2% (2007) and an inflation rate of 18.31% (July 2008). Its major trade partners include Nigeria, China, USA, UK, Germany, Togo, France, Netherlands and Spain.

The government of Ghana is fully committed to private sector development as a means of fostering economic growth. …

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