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A report by Rand Merchant Bank Limited (RMB), the investment banking arm of Johannesburg-based FirstRand Limited, said Ghana had strong growth rates in the oil and gas sector, while trade reforms.
The 2019 report, "Where to invest in Africa," indicates that Ghana has moved from 5th to 9th, following a downward revision of its growth rate for 2018 by the International Monetary Fund (IMF). ).
Analysts and co-authors of the study, Celeste Fauconnier and Neville Mandimika, said the competing economies had seen greater improvement in both indices of the economic and operational environment.
"The structural strength could help Ghana reach its growth forecast for 2019, which the government has set at 7.6 percent growth," they said.
In April 2018, the IMF reduced Ghana's outlook, estimated at 8.9% in October 2017, to 6.3%.
Findings from the eighth edition of "Where to Invest in Africa" have shown that effective infrastructure is crucial to unlocking opportunities and unlocking Africa's growth potential.
The first three countries of last year – Egypt, South Africa and Morocco – have maintained their positions in terms of investment attractiveness, according to the report.
Egypt has maintained first place as the largest African market in terms of gross domestic product, becoming the largest consumer market in the Middle East and North Africa.
"Its economy is diversified and receives large foreign direct investment," the report says.
"Progress has been made to improve the legal and investment environment, and 4% growth is forecast," said Mandimika, adding that "the availability of hard currency for debt service and depreciation of the Egyptian pound 2016, however, remains some of its challenges. "
With an expected growth rate of 4% over the medium term, the operating environment and the attractiveness of Morocco's investments have improved considerably since the "Arab Spring".
The badysis of the different African countries in the report revealed that 11 African countries should exceed 6%.
Ethiopia is fast becoming Africa's fastest growing economy, averaging 8.2 percent over the next six years.
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