The Oxford Business Group (OBG) has signed a Memorandum of Understanding with Association of Ghana Industries (AGI) as it begins to work on ‘The Report: Ghana 2023.’
Under the agreement, the AGI will team up for a fourth time with OBG to produce the Private Sector chapter of the report and other content for the Group’s suite of research tools.
A statement issued in Accra said the MoU was signed by Madam Ramona Tarta, OBG’s Country Director for Ghana, and Mr Seth Twum-Akwaboah, Chief Executive Officer, AGI.
Mr Twum-Akwaboah, commenting said the research partnership for The Report: Ghana 2023 came at a key juncture for the country with discussions between the Ghanaian authorities and the IMF for a support programme at an advanced stage and openings emerging across numerous high-growth-potential sectors of the economy.
“These are significant times for Ghana, with efforts to restore macroeconomic stability and positive growth forecasts combining to boost investor confidence,” he said.
“OBG’s economic reports are recognised worldwide as go-to sources of reliable, accurate data and analysis. I am delighted that we will once again contribute to the Group’s country report and highlight Ghana’s strengths and potential to investors,” he said.
Madam Tarta said Ghana’s efforts to ensure new growth was sustainable and more inclusive would also sit well with the international investment community.
“While home to an abundance of natural resources, Ghana is also focusing on further developing the midstream segment and value-added components of the economy, such as agro-processing in food and beverages,” Tarta said.
“Many of the businesses in these and other fields are represented by the Association of Ghana Industries, which plays a key bridging role between the private sector, investors and government entities,” she added.
The report, which will be out early next year will explore Ghana’s efforts to attract investment for key sectors of the economy identified as ripe for growth on the back of newly implemented economic policies and reforms.
It will analyse policies centered on scaling up local manufacturing, which is aimed at producing more essential goods for the domestic market and increasing exports.
In addition, it will shine a spotlight on the country’s bid to modernise its important agricultural sector through the introduction of tech-led advancements.
Ghana’s key oil and gas, and energy sectors are another focus, with coverage provided of the latest developments in exploration and production, and distribution, alongside the openings emerging in the renewables segment.
Other topical issues set for analysis include the opportunities for intraregional trade expansion that are expected to emerge from the African Continental Free Trade Area, which has its headquarters in Accra.
The report will be produced in collaboration with the GIPC, AGI, PwC Ghana, and other partners.
It will contain contributions from leading personalities in the public and private sectors, including: Yoofi Grant, CEO, Ghana Investment Promotion Centre; Ken Ofori-Atta, Minister for Finance; Joseph Boahen Aidoo, CEO, Ghana Cocoa Board; and Ernest Addison, Governor of the Bank of Ghana.
The report will mark the culmination of more than a year of field research by a team of analysts from Oxford Business Group and a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking, and other sectoral developments.
The ‘Report: Ghana 2023,’ will be available online and in print. It will form part of a series of tailored studies that OBG is currently producing with its partners, alongside other highly relevant, go-to research tools, including ESG and Future Readiness reports, country-specific Growth and Recovery Outlook articles and interviews.