Ghana has been ranked 1st in West Africa and 2nd in Sub Saharan Africa by Fitch Solutions, research arm of ratings agency Fitch, as the best destination for investments and trade.
With a Trade and Investment Risk score of 50.9%, the country outperformed the West Africa average of 36.4%.
Despite the challenges facing the economy, the country also placed 88th out of 201 markets globally in terms of competitive environment for investments and trade.
For Economic Openness, Ghana scored 58% and 50% for Trade and Investment Risk.
In terms of Government and Legal Intervention, the nation scored 45% each respectively.
Similarly, with a Crime and Security Risk score of 51%, Ghana outperformed the West Africa average of 33.3% and ranks in 1st place regionally and in 90th place out of 201 markets globally.
The report pointed out that Ghana’s markets have strong fundamentals, including a track record of private investment in energy infrastructure, comparatively high political stability and security, and a relatively diverse competitive landscape.
It however expressed worry about the depreciation of the cedi which it said will in the near term make private investors more reluctant to invest in Ghana’s infrastructure sector.
It therefore do not expect private investments to meaningfully cushion the negative impact of subdued public infrastructure spending on the market’s construction industry growth.
"We expect that a substantial depreciation of the cedi against the US dollar in 2022 will in the near term make private investors more reluctant to invest in Ghana’s infrastructure sector. We thus do not expect that private investment will meaningfully cushion the negative impact of subdued public infrastructure spending on the market’s construction industry growth.
CRITERIA | SCORE | RANKING |
Economic Openness | 58% | 1st |
Trade and Investment Risk | 50% | 1st |
Government | 45% | 2nd |
Legal Intervention | 45% | 2nd |
Crime and Security Risk | 51st | 1st |
Latest Stories
-
Change is the only constant – Sam Jonah urges graduates to embrace AI
3 hours -
Usyk beats Fury via split decision to become undisputed heavyweight champion
3 hours -
‘Heroism is not exclusive to men’ – Sir Sam Jonah calls for gender parity in leadership
3 hours -
Sam Jonah’s graduation address highlights role of youth in overcoming global issues
4 hours -
Ghana offers African Americans a path to healing and reconnection – Sam Jonah
4 hours -
Raymond Anokye Asante scores brace as Udinese U19s beat Napoli on penalties
4 hours -
GPL: Berekum Chelsea come from behind to beat Asante Kotoko
4 hours -
CAF African Schools Football Championship finals 2024 to be staged in Zanzibar
5 hours -
Ghana’s Emmanuel Dogbevi honoured with prestigious African Capacity Building Foundation Award
6 hours -
Chelsea win fifth straight title as Hayes signs off in style
6 hours -
AAFCON 2024: Black Challenge players leave for Egypt to defend title
6 hours -
MTN Ghana celebrates World Telecommunication Day with a renewed commitment to digital innovation
6 hours -
Leverkusen make Bundesliga history by ending season unbeaten
6 hours -
Pan African Media Lawyers Union launched to safeguard journalists’ rights at 3rd African Media Convention
6 hours -
Defe Defe: A ‘Testimony’ that Ghanaian gospel music can lead too – A Review
7 hours