Ghana’s far-reaching digitisation programme and its implications for businesses operating across the economic sectors will be explored in a forthcoming report by the global research and advisory company, Oxford Business Group (OBG).
The Report: Ghana 2023 will shine a spotlight on the wide-ranging tax reforms under way, which form a key part of broader efforts to boost revenue and bring about fiscal consolidation.
Focal points will include the newly introduced e-levy, financial sector recovery levy, energy sector levy and COVID-19 recovery levy alongside other key developments, such as the implementation of tax identification numbers.
The report will also map out Ghana’s growth prospects, providing in-depth analysis of the heightened activity evident across the extractive industries, which has been a major contributor to the positive economic forecasts for 2022 and beyond.
The latest developments in the Ghanaian authorities’ efforts to secure a possible IMF-supported programme through ongoing discussions with the international organisation are another topic set for coverage.
In addition, OBG will consider the challenges that Ghana faces in its bid to accelerate a post-pandemic recovery, which include rising inflation, fuelled by an imbalance in imports and export costs.
OBG has once again signed a memorandum of understanding (MoU) with PwC Ghana as it begins work on The Report: Ghana 2023. Under the agreement, PwC Ghana will team up for a third time with OBG to produce the Tax Chapter of the report and other content for the group’s suite of research tools.
The MoU was signed by Ramona Tarta, OBG’s Country Director for Ghana, and Ayesha Bedwei Ibe, Tax Leader, PwC Ghana and PwC Global Tax and Legal Services People Leader.
Commenting after the signing, Ibe said that OBG’s forthcoming report would be a valuable research tool for investors eyeing Ghana’s potential, coming against a changing business landscape marked by ambitious fiscal and tax reforms.
“Ghana is keen to attract investment for key sectors of the economy identified as ripe for growth, ranging from value-added manufacturing and agritech to energy, telecoms and construction,” she said. “Oxford Business Group is known to be a provider of accurate and reliable data on emerging economies and their investment opportunities. I’m delighted that we will be collaborating with its analysts to provide business leaders with the information they need on Ghana’s evolving investment climate ahead of the decision-making process.”
Tarta agreed that research for the 2023 report came at a critical juncture for Ghana, with the country moving to introduce policies and reforms aimed at ensuring new growth is sustainable and more inclusive.
“Ghana is taking steps to restore macroeconomic stability and boost GDP in the recovery phase, which is key to instilling investor confidence and increasing inflows,” Tarta said. “PwC Ghana has long been instrumental in supporting a wide range of businesses looking to establish themselves and expand their presence in the country, combining in-depth knowledge of changes to the local tax and fiscal environment with the benefits of a global professional resource base. I’m thrilled that our analysists and, in turn, the international investment community will continue to benefit from their expertise in analysing this important market.”
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.