Business in Ghana

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Posts Tagged ‘GDP’

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 »

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Sub-Saharan Africa’s Recovery Maintains Momentum

Posted by Business in Ghana on January 26, 2011

Source: World Bank Report

In its World Economic Outlook Update, the IMF said most countries in sub-Saharan Africa have recovered quickly from the global financial crisis, with the region projected to grow 5½ percent in 2011.

Low income countries, which escaped the worst impacts of the global crisis, are expected to match pre-crisis growth rates of about 6½ percent in 2011. But the recovery in South Africa has been more subdued, restricting projected growth to about 3½ percent in 2011. Read the rest of this entry »

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After Rebased GDP, Still Many Open Questions

Posted by Business in Ghana on November 7, 2010

By Sydney Casely-Hayford, www.bizghana.com

Ghana’s Gross Domestic product (GDP) was revised by the Government Statistician, Dr. Grace Bediako from Ghc24.1 billion to Ghc44.8 billion, Friday 5th November.  Before the census figures are released in January 2011, this classifies Ghana a middle-income status country ahead of oil revenues.  The per capita GDP based on 24.3 million people translates to Ghc1,843 ($1,289).  There is a lot here for self-congratulation, but there are still missing links in the economy, which should have seen higher than the 60.3% change from the 1993 base to 2006.

The main ingredients for the revision are; a change in the base year from 1993 to 2006, improvements in the compilation methodology using 1993 accounting systems in place of the 1968 edition, improvements and revisions of data sources and finally a classification update to International Standard Industrial Classification 4 (ISIC4).  Long overdue. Read the rest of this entry »

Posted in Financial Services, Sydney Casely-Hayford | Tagged: , , , , | 7 Comments »

A Snap shot of the World Bank and IMF Annual Meetings: How to achieve a world without poverty!

Posted by Business in Ghana on October 18, 2010

By Franklin Cudjoe, Washington, D.C., www.imani.org

The World Bank and the IMF have not had many friends in the developing world since post-Structural Adjustments days, when their advice and interventions, largely backed by aid yielded slow and negative growth.  It is the case though, that dealing with the two Bretton Woods institutions is like loaded dice. In one breadth they provide you with advice, and then in another, they continue to support countries that fail, even when their failure did not originate from bad advice, but essentially rooted in disrespect for the most basic institutions needed to effect real change.

Take Ghana, for instance.  Not all the IMF and World Bank’s involvement in our mostly self-inflicted tottering economy in the 1980s come to doom and gloom? There were significant gains, which could have been used to diversify our agrarian based economy- yet we watched politicians splurge most of the gains on the 1992, 1996 and 2000 general elections. And just when our strangling debts were paid off, with a promise to ‘taking off’ into the middle income bracket, we watered down the gains again in 2008, with a world record deficit of almost 20% to GDP- mostly incurred as a result of light-speed spending, mainly outside of the budget and ostensibly to chase political votes. Read the rest of this entry »

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