Ghana’s wealth of resources, democratic political system and dynamic economy, makes it undoubtedly one of Africa’s leading lights. It is one of the fastest growing economy / Middle class purchasing power of $400 per day as per a report in the New York Times Ghana’s economic growth continues to increase to 7.6 percent in 2019 with the GDP at 66 USD Billion, driven by both the oil and non-oil sectors. Non-oil growth was also strong at 6.0%.
The country has created a successful business- enabling environment for inward foreign direct investment prospects with venture openings varying from power, energy, transportation, finance and other infrastructure areas. A young commercially vibrant populace joined with rapid urbanization speaks to rising local development openings.
Electricity access in Ghana is around 84% and is one of the highest in sub-Saharan Africa. Growth in the Ghanaian population is driving up electricity demand. Thus, leading to a higher demand for domestic electricity over the years on an average of 42% of total generation.
Ghana was one of the first countries in Sub-Saharan Africa to unbundle its power sector and attract private investment through independent power producers (IPPs).