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Ghana

Republic of Ghana

English Ghanaian Cedi (GHS) English common law
AU, ECOWAS, AfCFTA, Commonwealth, WTO

Ghana is West Africa's second-largest economy and one of the continent's most stable democracies. The economy is driven by gold mining (Africa's largest producer), cocoa production (world's second-largest), and offshore oil and gas from the Jubilee and TEN fields.

Accra has emerged as a growing tech hub with an expanding startup ecosystem. Ghana hosts the AfCFTA Secretariat, positioning it at the center of continental trade integration. The country completed a $3 billion domestic debt exchange in 2023 and is implementing an IMF-supported program ($3 billion ECF).

Key strengths include a free press, regular democratic transitions, an English-speaking workforce, and improving digital infrastructure. Challenges include post-debt-restructuring fiscal constraints, high inflation, and currency depreciation.

Snapshot

Population~35.1 MWorld Bank, 2025
GDP (current USD)$114.2 BWorld Bank, 2025
GDP per Capita$3,257World Bank, 2025
GDP Growth5.95%World Bank, 2025
Inflation (y/y)~14.20%World Bank, 2025
Policy Rate (MPR)29.00%Central Bank
Unemployment2.98%World Bank, ILO modelled estimate, 2025
Internet Use~72.18%World Bank, 2024
Electrification~86.00%World Bank WDI
CPI Score (Rank)43.0/100 (#72)Transparency Intl
HDI (Rank)0.632 (#142)UNDP HDR
Credit RatingSD (S&P) / Caa2 (Moody's) / RD (Fitch)S&P / Moody's / Fitch
MarketGhana Stock Exchange (GSE)

World Bank Indicators Compare with another country

GDP (current USD)$114.2 BWorld Bank, 2025
GDP growth (annual)5.95%World Bank, 2025
GDP per capita (USD)$3,257World Bank, 2025
Population, total35.1 MWorld Bank, 2025
FDI net inflows (USD)$1.9 BWorld Bank, 2025
Inflation (consumer prices)14.20%World Bank, 2025
Unemployment (% labour force)2.98%World Bank, 2025
Internet use (% of people)72.18%World Bank, 2024
Trade (% of GDP)68.97%World Bank, 2024

Country Facts

CapitalAccra
RegionWest Africa
CurrencyGhanaian Cedi (GHS)
FX RegimeManaged float
Stock ExchangeGhana Stock Exchange (GSE)
Investment Promotion AgencyGhana Investment Promotion Centre (GIPC)
Legal SystemEnglish common law
Time ZoneAfrica/Accra

Focus Sectors

Mining (gold)
Oil & Gas
Cocoa & Agriculture
Financial Services
ICT
Manufacturing
Construction
Tourism
Energy
Retail

Trade

Top Export Partners (2023)

Switzerland
22%
India
13%
China
10%
UAE
8%
South Africa
7%

Top Export Goods

GoldCrude petroleumCocoa beansCocoa pasteManganese ore

Top Import Partners (2023)

China
18%
United States
7%
India
6%
United Kingdom
5%
Netherlands
4%

Top Import Goods

Refined petroleumVehiclesMachineryRicePlastics

Finance & Capital Markets

CurrencyGhanaian Cedi (GHS)
Policy Rate (MPR)29.00%
FX regimeManaged float
ExchangeGhana Stock Exchange (GSE)

Major Banks

GCB BankCommercial
Ecobank GhanaCommercial
Stanbic GhanaCommercial
Absa GhanaCommercial
CalBankCommercial

Regulations & Taxes

Corporate Income Tax25% (15% for manufacturing, 1% for listed companies discount)
VAT / Sales Tax15% standard (includes NHIL, GETFund, and COVID levy)
Withholding Tax8% dividends, 8% interest, 15% royalties (non-residents)

Talent

Median Age21.4 yrsUN Population
Adult Literacy79.00%World Bank UIS
Youth (<25)57.00%
LanguagesEnglish

Resources

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