Financial Data
Updated 05 Dec 2020


Related sections


Ghana is located along the Gulf of Guinea and Atlantic Ocean in West Africa. Spanning a land mass of 238 535km2, Ghana is a multicultural nation, with a population of approximately 27 million with a variety of ethnic, linguistic and religious groups.

Its diverse geography and ecology ranges from coastal savannahs to tropical jungles, while its economy is also one of the most resilient and diversified in Africa.

Download fact sheet

Social overview


Ghana’s ethnic diversity makes it an attractive destination for businesses looking to grow its presence on the African continent.

Its fast-growing population does bring certain challenges with it, such as the provision of education and employment, however, the government is looking to make larger strides in improving its youths’ access to education.

Approximately 37% of Ghana’s population is under 15 years old, while a further 60% of the population is aged between 15 and 64. With youth on its side, upskilling and improving access to education and employment for the youth of the country remains a key factor in determining the country’s ongoing success.

Despite its competitive economic record, poverty remains significant and reducing poverty levels will require strong investment across all sectors of business.

Religion, particularly Christianity, plays an important part in everyday life of Ghanaian citizens, while more than 80 languages are spoken in the country. 



Ghana’s people
  • Population: 27 266 312
  • The distribution of the population is as follows: 36.5% of the population are under the age of 15; 60% of the population are between 15 and 64 years of age; and 3.6% are over the age of 65.
  • Languages: English (official),Twi, Ewe, Fante, Asante, Ga and Hausa.
  • Its unemployment rate has dropped over time to reach 5.2% in 2014, however, 18.92% of the population live in poverty.
Environmental overview

Growth in Ghana’s mining sector has come at the expense of its agriculture sector. Farm land is becoming scarce because of mining for gold, while deforestation, bush burning, over-grazing by cattle, charcoal burning and illegal logging also contribute to the country’s shrinking forests. Here are a few environmental factors you should consider:

  • Ghana offers a tropical climate and two key seasons – a wet and a dry season. Due to climate change, it is reported that the dry season is getting drier and the wet season is getting wetter. This could complicate matters if you’re interested in agricultural operations.
  • Its location and environment is attracting tourism to the region, however, its rivers and lakes are under pressure to supply water to manufacturing and agriculture sectors;
  • As the country forges ahead in urbanisation, it will require ongoing investment in sanitation, electrification and high-speed telecommunications.

Despite these challenges, Ghana remains a leading African exporter of mineral fuels, oils, distilled products, cocoa and timber. One of the biggest opportunities for businesses entering the country remains in tapping into the country’s resources and producing goods for export markets.


The environment
  • Accelerated mining operations is creating challenges for the agriculture sector.
  • Its tropical environment makes it a popular tourist destination.
  • Deforestation is causing a loss in biodiversity.
  • Rainfall is increasing during the ‘wet’ season, while the dry season is becoming increasingly intense.
Technology overview

Ghana is embracing the use of digital banking technologies, particularly in regions that do not offer physical banking services or access to ATMs. This had led to a growing demand for digital products and services that make mobile banking easier and faster.

Internet usage is also growing in popularity, with more than 5 million users logging on to either browse the web or interact with businesses in the banking and health services sectors.

There are, however, certain technology challenges that need to be addressed, such as:

  • Improving, and investing in, mobile and fixed telecommunications infrastructure
  • Upskilling of Ghanaians that are interested in the tech sector, but do not have the acumen to become involved in improving the country’s infrastructure.

If you are involved in the telecommunications sector, you would be interested in the population’s uptake of mobile phone technology. In 2001 only 300 000 Ghanaians subscribed to mobile services packages, while by 2014 that number had risen to 30.4 million subscribers. 


Tech outlook
  • Inadequate fixed telecommunication infrastructure.
  • The population is embracing mobile communications and mobile banking.
  • More than 30 million Ghanaians subscribe to cellular services. It’s a captive market for mobile technology solutions that improve public access to products and services in remote locations.
Rate It12345rating

Introducing the bank’s advice for new entrants to farming

Considering going into farming? Head of Agribusiness, Nico Groenewald gives top advice on common mistakes to avoid and how to overcome the barriers to entry in agribusiness.

Login to comment