Ghana Impact Investment Landscape Report 2019

Ghana’s strengthening economic environment, stable political environment and growing social enterprise sector render the country well suited to the development of an impact investment industry.

We have further reason to be optimistic for the future of impact investment in Ghana: it lies in the hands of women and young people. 39% of social enterprises are run by women entrepreneurs, and 43% of the social enterprises are led by people between the ages of 25 and 34. They are also running young enterprises: over half of all social enterprises in Ghana have been set up in the past five years. 

Ghana has one of Africa’s fastest-growing economies and is one of the only African countries on track to meet the UN’s Sustainable Development Goal (SDG) of 7% gross domestic product growth p.a. by 2030 (SDG report). Ghana’s president, Nana Akufo-Addo committed to delivering ‘Ghana Beyond Aid’ – a package of reforms to free the country from IMF rescue packages (the 16th rescue package ended in April 2019).

The president has also been praised for curbing inflation: it fell to 9% this year from 17% in 2016. Ghana gained ‘lower middle income’ status from the World Bank in 2011 after the country started oil production. Paradoxically, this resulted in a reduction in traditional donor grants, which then increased the need for alternative forms of capital to meet its growing economy. This includes the use of private capital to support public priorities and SDG goals; impact investment is a clear way to make this happen.