- A reporter with Bloomberg has highlighted the gains achieved by Ghana and revealed why the country could grow further in future
- Noah Smith added that Ghana is showing signs of becoming a pacesetter in the West African sub-region
- The country's geographical position, as well as other cardinal factors, make the country favourable for an economic leap
A reporter with American media company, Bloomberg, has ranked Ghana’s economy as one to watch in the near future.
Bloomberg’s reporter, Noah Smith, argued that the country has performed creditably on development metrics and simply needs to break free of dependence on commodities.
The report added that there are key indicators that show a country is becoming a pacesetter.
It listed United Kingdom (UK) as the country that set the tone for change in Europe, Japan as the change maker in East Asia and possibly Ghana being the country to watch in West Africa.
It has been argued that Ghana has certain advantages in the sub-region with regard to geography, institutions and human capital.
As a country with a coast, Ghana has two ports that are used to ship and receive goods and with over 31 million people. The country is therefore well-positioned to create a substantial domestic market.
The report goes on to say that Ghana is well branded with regard to essential aspects of a nation’s building process such as quality of governance, freedom and democracy and the ease of doing business.
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