Concerns that the upcoming elections could be having  some negative impact on the economy might not be the case on the ground.

That’s if engagements with some banking chiefs, investors, Bank of Ghana (BoG) and even going through the financials of some listed banks are anything to go by.

Some economists  over the months had maintained that because fears by some investors about the outcome of the December elections, as to which of the political parties could emerge as  winners, and whether, existing contracts will be respected by any new government that takes over. 

The development even affected investor interest for some local bonds issued by government recently and also the recent Eurobond, which was put on hold, because of concerns with high rates.

It was also argued that the elections "overhang", has impacted on deposits of commercial banks as well as investments by offshore investors.

There were even predictions the development, will affect the ability of most commercial  banks to lend to business in the country.

But Joy Business' engagement with some officials at the Central Bank shows, rather local bonds issued by government has not been affected.

Also, engagements with some bank treasures also show that portfolio investment has not witnessed any significant decline.

Managing Director of  Standard Chartered Bank, Kweku Badu Addo says, going through his books, deposits has not witnessed any reduction because of the upcoming elections.

A careful look at the half year results of most listed banks also shows that  deposit mobilization and even lending has not witnessed any significant reduction.

Managing Director of HFC Robert Le- Hunte says, the upcoming elections has not in any affected their  expansion plans and investments.

The second quarter Ghana Investment Promotion Center Report has also shown that foreign direct investment into the country has not witnessed any  significant reduction.

The report shows that investment into the country, from January to June, has increased increase substantially to $1.41 billion.

When you compare what has come in terms of FDI, to the same period in  2015, it actually represents a 100 percent jump over that period in 2015.

Jobs to be created from the 51 projects registered with the Ghana Investments Promotion Center (GIPC) went by 100 percent to 4, 112, that is when it comes to  the number of jobs that will be generated.

However, some are of the view that, it might still be early days yet to make a judgment on whether the upcoming elections will indeed affect the economy or not.

Whether it might be good go along with what analyst are saying that the current challenge with the business environment has more to do with the management of the economy rather than just the elections, time will tell.