New Market Research Report: Ghana Business Forecast Report Q3 2013

From: Fast Market Research, Inc.
Published: Thu Jul 11 2013


The Ghanaian economy will enjoy strong economic growth over the medium term, propelled by the nascent Oil & Gas sector.

Ghana's abundant natural resources, fast growth trajectory and relative political stability augur well for strong foreign investment inflows.

The current account deficit and fiscal deficits will remain key structural weaknesses in the economy.

Ghana's reputation for political stability remains intact following the December 2012 elections and the nation is widely regarded as a safe place to do business.

Major Forecast Changes

No major forecast changes.

Full Report Details at
- http://www.fastmr.com/prod/616979_ghana_business_forecast_report_q3_2013.aspx?afid=301

Key Risks To Outlook

The Ghanaian cedi remains vulnerable amid the sizeable current account deficit and could depreciate more swiftly than we anticipate.

Mismanagement of oil revenues - perhaps stemming from insufficient institutional capacity - could dent investor perceptions.

Partial Table of Contents:

Executive Summary
Core Views
Major Forecast Changes
Key Risks To Outlook
Chapter 1: Political Outlook
SWOT Analysis
BMI Political Risk Ratings
Domestic Politics
On The Ground: Assessing Mahama's First 100 Days In Office
Our analyst in Accra spoke to local businesses and consumers and found that in general, people think that the Ghanaian government's performance has been just 'average' during its first 100 days in office. Although the election dispute is likely to be resolved soon, several issues are expected to rumble on, including inadequate power supplies and strikes in certain sectors.
Long-Term Political Outlook
Oil To Prove A Critical Test For Ghana's Polity
Ghana's political risk profile is relatively favourable, especially in the context of West Africa. However, oil revenues will require careful management, presenting a formidable test for the government over the coming decade.
TABLE: GHANA POLITICAL OVERVIEW
Chapter 2: Economic Outlook
SWOT Analysis
BMI Economic Risk Ratings
Economic Activity
Multi-Year Growth Surge Ahead
Notwithstanding concerns over the official GDP data, we note several encouraging trends in the Ghanaian economy, and maintain our outlook for buoyant economic activity. We forecast that Ghana will remain a regional and global outperformer thanks to the oil boom, with the economy growing by 8.5% in 2013 and 7.1% in 2014 in real terms.
TABLE: ECONOMIC ACTIVITY
Balance of Payments
Wide Current Account Deficit To Stay
We forecast that Ghana's current account deficit will remain in the double digits in 2013, at 13.2% of GDP following an estimated 12.3% of GDP in 2012. The outlook is promising for oil and gold export volumes (albeit not prices), but we expect imports of capital and consumer goods to keep the trade account deeply in the red.
TABLE: CURRENT ACCOUNT
Banking Sector Outlook
Stellar Results Reinforce Positive Banking View
We expect Ghanaian banks to continue to perform strongly over the medium term. The sector is well-capitalised, liquid and profitable. However, the non-performing loan ratio remains elevated and it is rising for some industries, posing a risk to banks' balance sheets.
TABLE: BANKING SECTOR STATISTICS
Surging Food Demand: Where Are The Opportunities?

Full Table of Contents is available at:
-- http://www.fastmr.com/catalog/product.aspx?productid=616979&dt=t&afid=301

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

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