Ghana

Ghana

Ghana is poised to become the world's fastest growing economy. Economic growth is projected to increase to 7.6% in 2019, non-oil growth is expected to accelerate to 6% as the government's new policies in the agriculture sector and the promotion of agribusiness begin to take effect. With Ghana registering a continual growth, it is also becoming a potential destination for investors from the world over. Ghana sits on the Atlantic Ocean and borders Togo, Cote d'Ivoire, and Burkina Faso, it has a population of  about 31 million.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 four years, Ghana started oil production in two of its major oil fields giving impetus to its on-going economic boom. 

Ghana is a country with an abundance of natural resources, the country is a major producer of gold and also produces commercial quantities of bauxite, iron ore and manganese as well as many more minerals. For the past two and a half decades Ghana has attracted significant mining sector investment amounting to about US$18 billion. Currently Ghana has 14 large scale operating mines, comprising 12 gold mines and one each for bauxite and manganese. Ghana became Africa's prime gold producer in 2018, provisional data for 2018 shows a total of 2.4 million oz production as against 2.1 oz in the first half of 2017, an increase of 13.72%. Production of Manganese increased from 1.3 million MT in the first half of 2017 to 1.9 million MT over the same period in 2018. However, Bauxite production decreased from 703, 454 MT in the first half of 2017 to 536, 827 MT over the same period in 2018. The government of Ghana is also working on promoting more investment in the exploration and exploitation of other minerals, for instance solar salt, granites, and lithium. Ghana is also endowed with industrial mineral deposits such as feldspar, kaolin, silica sand, and granite. Upcoming mining projects in Ghana include Cardinal Resources' Namdini gold project, Azumah Resources' Wa gold project, and Iron Ridges' Lithium Project. Generally, Ghana'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. Since 2011, Ghana has become an oil producer with the government targeting oil productions of 420,000 bpd by 2023.

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