Ghana stands to benefit from a projected 3 billion dollar investment in the next five years. This according to the first ever Annual Trade index produced by Barclays Bank Ghana.
The Index ranked Ghana fourth in the five top rising economies in Sub Saharan Africa, that’s the most attractive economies on the continent.
Reporting on the index, the BBC’s Russel Padmore says some British businesses are planning to increase investments in Ghana, looking at the country’s economic outlook.
” Barclays is a British Bank, so we are concerned about interests from British investors in Ghana’s economy. These investors are looking to increase their investments in these five African countries by three-folds from 1 billion to about 3 to 5 billion dollars, according to the index”
Meanwhile the Mark Tucker, head of Global Coorporate Banking of Barclays Bank, these five countries are looking more stable than they have in the past.
” These countries have shown a commitment to breaking trade barriers, so it is easier to do business in the country. The governance structures are also improving increasingly.”
Mark Tucker also mentioned the performance of the GDP and other factors, that informed the index’s decision to name Ghana as part of the top 5 most promising banks.
” We also took into consideration, GDP growth as well as population dynamics in the country. We also see a great opportunity for companies in the UK to increase their imports into these econonomies.”
When asked what industries present the most attractive prospects for investment, Mark Tucker said, ” The opportunities are across the board. But there are particular interests in Agriculture, food, beverage, automobile, telco and financial services.”
This optimism by British investors seems to be contrary to the actual impressions of Ghanaians about the performance of the economy with its prevailing challenges, chief amongst them being the protracted energy crisis which is believed to be crippling the manufacturing sector, as well as a rather volatile local currency.