Economic pressures, strained business operations pushes Ghana to 7th position on trade attractiveness index

Ghana’s trade attractiveness has sharply declined from third to seventh place among African nations, according to the latest Standard Bank Africa Trade Barometer.

This drop is attributed to economic pressures from a worsening macroeconomic environment and reduced trade confidence.

Small and medium-sized enterprises (SMEs) have been particularly affected, struggling to access foreign currency for cross-border activities.

While countries like Tanzania and Mozambique improved in the rankings, Ghana’s competitiveness deteriorated.

Despite projected GDP growth, challenges such as high inflation and currency depreciation persist, highlighting the need for diversified growth strategies.