Stopping in Accra is one of my favorite things to do, never more so now than before. Seeing the booming economy can definitely make you want to call the place home. Economic growth of For these reasons, Ghana has become increasingly attractive to foreign investors. Earlier this year the mobile penetration rate in Ghana surpassed percent. This does not necessarily mean that every Ghanaian has a mobile phone.
Accounting for multiple sim cards or ownership of multiple mobile phones, telecom insiders estimate that mobile phone ownership is just approaching 16 million. Opportunity for growing the voice market is hard to ignore. But tower managers and telecom investors alike will see the greatest growth in data services.
A booming oil and gas sector is pushing for better all-around service to support their growth while telecom companies continue to build infrastructure in order to improve quality and stability.
Installations should also increase network capacity in order to cope with upcoming traffic increases. The introduction of more competitive service bundles and specialized data products can definitely add to profit margins. The Banking Act in laid the foundation for change in the financial services industry. Since its passage, financial services in Ghana have improved tremendously. A thriving economy and growing incomes usually underline the potential of the financial sector.
But Ghana has shown more promise than other countries in the region. Take Cameroon for example. It has a similar level of income, yet Ghana has more than double the number of ATMs per head of the adult population.
