GHANA 
 

General info

Climate:  tropical humid hot

Size:    238.537 sqkm

Capital: Accra (approx. 2.3 million inhabitants; in the greater Accra and Tema area: approx. 4 million inhabitants)

Population: approx. 29.6 million; various ethnic groups; approx. 2.5 percent annual growth

Language(s): Official language: English; Akan languages (including Twi, Fanti, Akuapim, Ashanti and Akyem), Ewe, Ga, Haussa and around 40 other languages and dialects

Independence: 6 March 1957 Form of government: Presidential Democracy (4th Republic as of 07.01.1993)

Head of state : President Nana Addo Dankwa Akufo-Addo

Gross domestic product (GDP): around 47 billion US dollars (2017, IMF)

GDP per capita: around 1,660 US dollars (2017, IMF

SOURCE: https://www.auswaertiges-amt.de/de/aussenpolitik/laender/ghana-node/ghana/203356

ECONOMY

"The economic programme of the government in office since January 2017 contains a number of planned measures to strengthen agriculture and industry, including tax cuts, incentives for the private sector and infrastructure development.

POLITICS

"Ghana is an active member of the Economic Community of West African States (ECOWAS) and is particularly involved in the peace and stabilization processes of ECOWAS.  The EU is Ghana's most important partner in trade, investment, and development aid. The government, judiciary and parliament in Ghana promote human rights awareness. Ghana is characterised by freedom of expression and religious tolerance, and freedom of the press is explicitly guaranteed in the 1992 Constitution. The Ghanaian Government's priorities in the higher education sector are improved access to tertiary education, securing university funding, the promotion of women, and the targeted advertising of technical and economic courses".

IMPORTANT DEVELOPMENTs

1 Demographic development: Currently, the African continent has a population of 1.2 billion inhabitants. According to studies, 2.5 billion people will be living on the African continent in 2050. For 2100 even 4.1 billion people are predicted. In view of future developments, the continent offers opportunities for the development & implementation of innovative ideas that can meet the challenges of the future.

2. Labour market: Due to the expected developments on the African continent, the question arises how the current labour market can grow proportionally. Much more investment and innovative ideas are needed to create job opportunities for all, taking into account the ever younger demographics, more jobs need to be created. 

3. Real Estate Market: With a steadily growing population, the current housing market & construction industry in many African countries is also challenged to create affordable housing. Not only in the private economy is being rethought, but also at the government level. However, current figures show that more companies and private individuals are needed to keep pace with demographic developments. One leading example is Ghana, which listed a housing shortage of 1.8 million in 2018. Coverage of the number in 20 years would require an annual construction of 90,000 house units.