Ghana’s trade rank slips to 7th, Standard Bank Africa Trade Barometer cites infrastructure hurdles

Ghana dropped from 3rd to 7th in trade ranking among 10 African countries in the latest Standard Bank Africa Trade Barometer report.

The report highlights a dip in government support for trade due to inflation, high taxes, and foreign exchange issues, alongside infrastructure challenges in power and transport.

Despite these obstacles, business confidence in Ghana rose from 47 to 55, indicating optimism for economic growth in 2024-2025.

Limited foreign currency liquidity remains a major concern for 83% of Ghanaian businesses. Meanwhile, countries like Tanzania and Mozambique saw improvements in their trade rankings.