imported 2024-03-17 17:43:07
Ghana was colonised by the British around the 1870s and was under colonialism for centuries. The country gained political independence in March 1957, thanks to years of political negotiations, making it the first country in sub-Sahara Africa to be freed from colonialism.
Ghana is a country whose people are almost similar to those living in neighbouring countries. Still, Ghana is noted for a burgeoning democracy, peaceful changes in governments between political parties and a respected constitution.
Investors’ appetite in Ghana is rising following the recent oil discovery. As some of those investors setup businesses to profit from the country’s burgeoning economic growth, demand for housing and office spaces is also growing.
With the changes in population growth, the discovery and exploitation of oil in commercial quantities, huge economic growth, the prospects and their attendant effects on FDIs and tourists arrivals in Ghana, the real estate sector is now a new area to invest in.
Ghana is an attractive destination. The country is growing at an eight percent rate and its business environment is trending in the right direction. The financial sector and the banks in particular are well positioned to support Ghana’s economic growth.
The recapitalisation fever griped Ghana’s financial sector about five years ago, which helped to make most banks in Ghana robust and profitable compared to their peers in the subregion. As of now, Ghana has more than 27 banks.
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The financial services sector in Ghana is booming. The country has 28 commercial banks, 100 rural banks, 100s of non-banking financial institutions, etc. Still, not too many Ghanaians have bank accounts nor do any serious financial transactions.
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