Business in Ghana

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Posts Tagged ‘Africa Growth’

Because I Want To Believe. Critical News, 14th December 2014

Posted by Business in Ghana on December 14, 2014

Sydney Casely-Hayford, sydney@bizghana.com

The Auditor General Peter Quartey finally gave OccupyGhana his reply to our questions regarding his authority to disallow and/or surcharge public expenditure in the country as and when he detects it. Unfortunately, or maybe fortunately, we disagree with his minimalist interpretation of his authority and we intend a formal response to clarify our understanding of his duties to Ghanaians.

In the likely event that we do not find common ground, we will see him before the Supreme Court Justices.

But this week our President announced at the National Anti Corruption Action Plan (NACAP) meeting, all the great things we will be doing to dribble out the corruption bug. He also mentioned specifically some 300 people he had on remand on various corruption and related matters.

You see all that he has achieved? So we all jumped into the sortie. Who are these seasoned criminals amongst us? Can they be seen? Please publish the list so we make sure our names are not included. But alas, it has not happened. I would have thought if there was a list, getting it to the media would be a matter of “halt the press, the Criminal names are coming oooo!!”

Same way we have no clue about all the super contracts Government is undertaking despite calls for all the projects to be identified (as a matter of transparency) with amounts allocated and stages of completion, so also this list will NEVER be seen until Green Book time in 2016. Read the rest of this entry »

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Africa Attractiveness Survey: Africa’s Share of Global FDI Increases Over the Last Five Years

Posted by Business in Ghana on May 6, 2013

Global share of FDI up but project numbers down in 2012

African GDP expected to be 4% in 2013 and 4.6% in 2014

JOHANNESBURG, South-Africa, May 6, 2013/ Africa’s share of global foreign direct investment (FDI) has grown over the past five years highlighting the growing interest from foreign investors, according to Ernst & Young’s third Africa Attractiveness Survey (http://www.ey.com/za), released today.

The report combines an analysis of international investment into Africa over the past five years with a 2013 survey of over 500 global business leaders about their views on the potential of the African market. The latest data shows that despite a fall in project numbers from 867 in 2011 to 764 in 2012 — in line with the global trend — project numbers are still significantly higher than anything that preceded the peak of 2008. The continent’s global share of FDI has also grown from 3.2% in 2007 to 5.6% in 2012.

Mark Otty, Ernst & Young’s EMEIA Managing Partner comments, “A process of democratization that has taken root across much of the continent; ongoing improvements to the business environment; exponential growth in trade and investment and substantial improvements in the quality of human life have provided a platform for the economic growth that a large number of African economies have experienced over the past decade.” Read the rest of this entry »

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Africa: Underestimating GDP

Posted by Business in Ghana on January 2, 2013

By Adam Green

GDP growth is thought to be correlated to everything from conflict risk to whiskey consumption. And the current slew of positive stories about Africa are driven, in part, by the impressive GDP statistics posted by countries across the continent.

But these numbers are poor estimations of economic development, says Morten Jerven at Simon Fraser University. His argument is not that GDP does not say much about happiness, equality, environmental sustainability. It’s a more technical point: many figures are, well, just wrong. African GDP might actually be growing faster than we think. Read the rest of this entry »

Posted in Financial Services, Uncategorized | Tagged: , , , , , | 2 Comments »

Africa is Hooked on Growth

Posted by Business in Ghana on January 2, 2013

By Sebastian Mallaby

A few years into sub-Saharan Africa’s renaissance, there were the natural doubts. Economists had competed for so long to explain the region’s growth tragedy that good news was a shock. But now, more than a decade into the revival, the good news has grown better. The lesson is that sound policies can make a difference even in the least promising of settings. Defeatists everywhere, cheer up.

Even before the recent flurry of encouragement, Africa’s turnround was breathtaking. Between 1980 and 2000, the continent had experienced negative economic development: output per person had fallen by a 10th in purchasing power terms. Then, just as the Aids pandemic was thought to represent the final straw for Africa, its fortunes changed dramatically. According to the World Bank’s development indicators, gross domestic product per person has risen every year since 2000, delivering a cumulative gain of more than a third. Read the rest of this entry »

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Despite Global Slowdown, African Economies Growing Strongly

Posted by Business in Ghana on October 4, 2012

World Bank Urges Countries to Spend Their New Oil, Gas, and Mineral Wealth Wisely 

 WASHINGTON, October 4, 2012  Sub-Saharan Africa is expected to grow at 4.8 percent in 2012, broadly unchanged from the 4.9 percent growth rate in 2011 and largely on track despite setbacks in the global economy, according to the World Banks new Africas Pulse, a twice-yearly analysis of the issues shaping Africas economic prospects.

Excluding South Africa, the continents largest economy, growth in Sub-Saharan Africa is forecast to rise to 6 percent. African exports rebounded notably in the first quarter of 2012, growing at an annualized pace of 32 percent, up from the -11 percent pace recorded in the last quarter of 2011. Read the rest of this entry »

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Retailers Wake up to Africa’s Promise

Posted by Business in Ghana on August 7, 2012

By Andrew England in Johannesburg and Xan Rice in Lagos

When Taiwo Animashaun, who works at Tastee Fried Chicken in Lagos, needed a new hotplate, she decided to try the plush Ikeja City Mall, which opened in December, instead of her local market. Within minutes of entering Shoprite, the South African supermarket that anchors the complex, she had made her purchase.

“It’s a good place to shop,” says Ms Animashaun. “Everything is arranged nicely, and the prices are not bad.”

From Lagos in the west to Nairobi in the east and Lusaka in the south, trendy new shopping malls have sprung up across Africa as the continent’s mushrooming cities modernise and its emergent middle class swells. Read the rest of this entry »

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