Ghana has been named the top investment and trade destination in West Africa and the second best in Sub-Saharan Africa by Fitch Solutions, the research arm of the ratings agency Fitch.
The country surpassed the West African average of 36.4 percent with a Trade and Investment Risk score of 50.9 percent.
Despite the economic issues, the country ranked 88th out of 201 countries in terms of the competitive environment for investments and trade.
Ghana had a score of 58 percent for Economic Openness and 50 percent for Trade and Investment Risk.
In terms of government and legal intervention, the country received 45 percent each.
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According to the analysis, Ghana’s markets have solid foundations, including a track record of private investment in energy infrastructure, fairly high political stability and security, and a competitive environment that is reasonably broad.
It did, however, voice concern over the cedi’s devaluation, which it believes may make private investors more hesitant to participate in Ghana’s infrastructure sector in the near term.
As a result, it does not expect private investments to significantly offset the negative impact of lower public infrastructure spending on market construction sector growth.
| CRITERIA | SCORE | RANKING |
| Economic Openness | 58% | 1st |
| Trade and Investment Risk | 50% | 1st |
| Government | 45% | 2nd |
| Legal Intervention | 45% | 2nd |
SOURCE: myjoyonline
