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Ghana

A role model for democracy in West Africa

Ghana is considered a model democratic country in Africa. Since 1992, democratic elections have resulted in several peaceful changes of government. They show how deeply rooted the basic understanding of democracy is in the society of Ghana. Ghana is a political and economic trendsetter in the region. While per capita economic output has been rising for many years, the percentage of people living below the national poverty line has declined since the 1990s from over 50% to around 20%. At the same time, Ghana's economy is highly dependent on the export of raw materials. It is therefore susceptible to fluctuations on the global market. As a result, the current government is striving for higher domestic value creation, supported by the private sector. This is precisely where the reform and investment partnership (Marshall Plan) agreed between the governments of Ghana and Germany in 2017 comes in. It is part of the Compact with Africa (CWA), under which the Federal Ministry of Finance has intensified cooperation with 12 reform-oriented partner countries. The aim is to improve the overall conditions for private sector participation as a prerequisite for more employment and higher incomes for the general population. The induced growth will increase tax revenues and thus promote fiscal consolidation in Ghana. The reform partnership is Germany's way of acknowledging the Ghanaian government's strong willingness to bring about reform.

Local office

KfW Office town

Director KfW Office: Arndt Wierheim
No. 7 Volta Street
P.O. Box 9698
K.I.A Airport Residential Area
Accra
Ghana

Phone: +23 33 02 76 39 42
Fax: +233 302 76 39 41

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