Ghana retreats four places in top 10 investment destinations in Africa

Company News of Tuesday, March 26, 2019

Source: www.ghanaweb.com

2019-03-26

According to a study by Rand Merchant Bank Ltd. (RMB), Ghana has registered a downward trend ranking 9th among the destination centers of investment of choice in Africa.

The findings of RMB badysts and co-authors of the study, Celeste Fauconnier and Neville Mandimika, showed that Ghana was moving from fifth to ninth in the ranking in 2019, mainly as a result of a downward revision of the 2018 growth rate by the International Monetary Fund (IMF). ).

Egypt, South Africa, Morocco, Ethiopia, Kenya, Rwanda, Tanzania, Nigeria and Côte d'Ivoire were among the top 10 countries.

According to Fauconnier, she anticipated Ghana's fall from 5% to 9% for two reasons: other African countries are performing faster than Ghana, particularly in terms of fiscal discipline.

"Other countries are faster than Ghana. Smaller countries in East Africa, such as Rwanda, and larger economies, such as Ethiopia, have climbed the ladder in their rankings in the business environment. . In recent years, Rwanda has been the fastest reformer in the world with respect to the business environment. The other reason, the collection of taxes, the high level of dates, the collection of taxes, the views, the reports on Ghana in the last three years, "she said at the meeting. 39, a presentation at the fourth economic and economic breakfast organized by First National Bank. (ETF).

In order to put Ghana at the forefront of international investment, the Minister of Information, Kojo Oppong Nkrumah, said that it was necessary to demonstrate the results achieved thanks to the new initiatives put in place by the government.

He explained that new initiatives, such as the Fiscal Responsibility Act, the Financial Advisory Board and the Financial Stability Board, are the benefits that will keep cancer from fiscal indiscipline.

He added, "The message I would like to send to the international investor community is this: there is everything you can look at outside of it. It is about the immediate history of Ghana as a state. I'm not talking about the Akufo-Addo administration, but Ghana as a state in recent years has demonstrated a certain level of fiscal discipline that has allowed us to get to this point and that we hope to keep now with laws, etc. together ".