Graphic Business News

Ghana among top 10 investment destinations in Africa

By: Kester Aburam Korankye
Mr Victor Yaw Asante
Mr Victor Yaw Asante

GHANA has been ranked among one of the top 10 attractive investment destinations in Africa for 2019 in spite of the turbulent banking sector clean-up exercise in which nine banks were resolved.

A study by Rand Merchant Bank Ltd (RMB), the corporate and investment banking arm of FirstRand Limited of South Africa, placed the country among the top 10 destinations due to anticipated strong growth.

It showed that the country’s economic growth would be driven predominantly by the hydrocarbons sector, with a continued ramping up of oil and gas production expected.

In its latest annual study known as ‘Where to Invest in Africa’, the Johannesburg-based RMB said: “Ghana has strong growth rates focused around the oil and gas sector, while the non-oil sector growth is supported by pro-business reforms.”

Nigeria and Cote d’Ivoire are the two other West African countries in the top 10.

Banking weaknesses
The other countries in the t