Ghana

Ghana

Ghana is poised to become the world's fastest growing economy. It is projected to register a growth between 8.3 and 8.9 per cent in 2018. With Ghana registering a continual growth, it is also becoming a potential destination for investors from world over. The Ghanaian president has pledged to channelize the revenue generated through oil and mineral resources for investments in quality education, agriculture, and manufacturing. In the last two years, Ghana started oil production in two of its major oil fields giving impetus to its on-going economic boom.

Ghana is one of the largest producers of gold in Africa, with an output of 2.9 million ounces in 2015 (a 6.5 percent drop from the previous year). The country also produces commercial quantities of bauxite, iron ore and manganese. The country’s gold sector is split between large multinational mining companies (primarily from the United States, Canada, South Africa, Australia, and the U.K.) and small-scale mining performed by local companies. Significant market opportunities in the mining industry for U.S. exporters are primarily in the large-scale mines; indigenous mining operations tend to be relatively unsophisticated and rely primarily on inexpensive equipment from Chinese manufacturers. Opportunities in the mining equipment sector run the gamut from large earthmoving equipment to analytic and assaying devices and materials. As with other sectors, used or reconditioned equipment often is at a more appropriate price-point for Ghanaian buyers.

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