The Socio-Cultural Context

Language

 

 

English and local dialects such as Twi, Ewe, Fante, Ga, Hausa

 

 

 

A stable country and the best entry to a market of 300,000,000 people

 

Ghana has a population of around 28.8 million people. Thanks to democratic stability, the country can be considered a "gateway" for the entire ECOWAS area (Economic Community of West African States), which includes rapidly expanding demographic markets. Ghana has a population growth rate of 3.2% per year and 40% of the population is less than 14 years old. Political stability, a democratic system and government activism in the fight against poverty contribute to making Ghana a country well seen by major international donors.

In August 2014, the US Cooperation Agency Millennium Challenge Corporation formalized a

$ 498.2 million commitment to support, among other things, the transformation of the Ghanaian energy sector.

According to the World Bank definition, Ghana has the status of "Lower Middle Income Country".

In the photo: Accra

A virtuous economy for constant growth

 

From an economic point of view, Ghana is considered by international observers to be a "virtuous" country.

Thanks to its political stability and the structural reforms adopted in the context of programs agreed with the International Monetary Fund and economic reforms adopted by the government, which aim at debt reduction and budgetary rigor. Ghana has lived since 1992 promising development marked by steady growth around 8% per year in the last ten years.

The International Monetary Fund, in its Regional Economic Outlook published in April 2018, estimates growth in 2018 and 2019, respectively at 6.3% and 7.6%.

The Ghanaian economy is expected to benefit from both the exploitation of hydrocarbon resources off the Ghana coast, including the OCTP offshore field operated by ENI, and the non-oil component according to IMF forecasts, 5% in 2018 and 6 % in 2019.

Religion

 

Christianity (68%); Muslims (16%); traditional cults.

 

This symbol (GYE NYAME) represents the supremacy of God. It is very common among the population and reflects the deeply religious character of the Ghanaian people.

 

Ghana and Italy: a fruitful collaboration

 

The bilateral relations between Italy and Ghana are based on an intense and fruitful collaboration both in business and in development cooperation, which has recently been further intensified with the program to support local small and medium-scale enterprises. GPSDF (Ghana Private Sector Development Facility). In 2016, trade between the two countries was around 488 million euros. Italian exports reached their all-time high, exceeding 264 million and recording an annual increase of 29.5%. Italian imports amounted to 223.4 million. Machinery and equipment represented the main item of our exports, mining and quarrying products were the first item of our imports. There are three projects carried out by Italian companies that have had particular importance in the history of Ghana: the Akosombo dam, considered as the largest and most ambitious project of the country, built by Impregilo in the early sixties, which led to the creation of the Lake Volta, the largest artificial basin in the world by extension, and the generation of electricity for national needs; the Tema refinery, built by Ghanaian Italian Petroleum (GHAIP) in 1963, then wholly owned by ENI; and the discovery of the offshore oil and gas field at the Cape Three Points block (OCTP), off the coast of Ghana, by ENI. Oil production started in 2017,  gas in 2018; it is an important contribution to access to energy, economic growth and the improvement of the balance of payments. The project, worth about seven billion dollars, is also the single largest private investment in West Africa. From a scientific point of view, relations between the two countries are substantiated in some cooperation projects between universities.

Italy provides some scholarships for university courses, masters and doctorates. Furthermore, it guarantees the registration of young Ghanaians at our universities where the requirements are met. There is a dynamic Italian business community in the country, established a few decades ago, operating in the construction sector, cocoa production and the export of timber.

Per informazioni:

+39 091 334625

Segreteria: via Mariano Stabile 221, 90141 Palermo  c/o Avvocato Francesco Campagna

 

Tutti i diritti riservati