Fuseini Sulleyman’s Post

📈 Exciting Economic News from Ghana! 🇬🇭 Ghana's economy is on the rise, showing its fastest growth in over a year. Here's a quick overview: 📊 GDP Growth: Expanded by 3.8% in Q4, compared to 2.2% in the previous quarter. 💼 Sector Performance: Industry sector saw growth after four quarters of contraction, with agriculture and services sectors also accelerating. 💰 Economic Indicators: Cedi trading at 13 per dollar, with bonds trading nearly unchanged. 🌍 Implications: Despite challenges like reduced government spending and inflation, Ghana's growth shows resilience. Looking Ahead: ⚡ Uncertainties like upcoming elections and debt restructuring could impact future growth. 💡 However, initiatives like debt restructuring and membership in AfCFTA offer opportunities for economic transformation. Ghana is on the move, demonstrating resilience and potential in its economic journey. Let's stay united under AfCFTA and continue to transform Africa together! #GhanaEconomy #AfCFTA #TransformingAfrica #InvestmentOpportunities #EconomicGrowth #UnitedUnderAfCFTA #AfricaRising

Ghana's economy, while showing potential, presents a mix of both promising opportunities and persistent challenges. On the positive side, Ghana has experienced robust economic growth over the past decade, driven by a vibrant services sector, substantial investments in infrastructure, and a burgeoning oil and gas industry. The country has also seen improvements in its business environment and macroeconomic stability, which have attracted foreign investments. However, Ghana faces substantial hurdles, including high public debt, inflationary pressures, and a reliance on raw material exports, which make the economy vulnerable to global price fluctuations. The country struggles with structural issues such as inadequate infrastructure and persistent unemployment, which can impede long-term sustainable growth. Despite these challenges, Ghana remains a key player in West Africa's economy, with ongoing reforms aimed at enhancing resilience and fostering inclusive growth. #GhanaEconomy #EconomicGrowth #WestAfrica #ChallengesAndOpportunities #Investment #SustainableGrowth #globalpoliticaaffairs

Is #Ghana gradually going into bankruptcy? Almost every country in the world is facing a financial or economic crisis as a result of the COVID and R&U war. Kenya recently saw a riot from Gen-Z and the UK has shaken the political house. But Ghana is facing something different. While its national Bank is closing foreign account holders in the view of stabilising the cedis, the peace council is also asking for 1 million dollars to maintain peace in the country. The Ghana Commercial Bank is also building a new headquarters with millions of dollars. The people are enduring the rise in food stuff and fuel yet only political promises. Can the African Union help the nation in place of the IMF?

#Remittances And #Inflows - #Nigeria💰🇳🇬 Remittances, the #money sent by migrants working abroad to their home countries, are crucial in supporting families and driving economic growth in many nations. According to the World Bank Nigeria diaspora remittance was about $20 billion in 2023 Owing to its massive diaspora population, Nigeria regularly receives the greatest remittance inflows (followed by Ghana, Kenya, and Senegal). The Nigerian foreign exchange market’s incapacity to absorb these remittances has added to the liquidity shortfall in the market. According to Taiwo Oyedele, The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Nigeria estimate that more than 90% of that did not get to Nigeria. A mere 10% of the  $20 billion 2023 diaspora remittances reached the Nigerian foreign exchange market. Nigeria Plans a $10 Billion Diaspora Fund to Attract Dollar Inflows and investment from Nigerians in the diaspora to support critical sectors including infrastructure, health care and education to grow the economy. https://lnkd.in/grJZy7be Esosa Aihie

#Remittances And #Inflows - #Nigeria💰🇳🇬 Remittances, the #money sent by migrants working abroad to their home countries, are crucial in supporting families and driving economic growth in many nations. According to the World Bank Nigeria diaspora remittance was about $20 billion in 2023 Owing to its massive diaspora population, Nigeria regularly receives the greatest remittance inflows (followed by Ghana, Kenya, and Senegal). The Nigerian foreign exchange market’s incapacity to absorb these remittances has added to the liquidity shortfall in the market. According to Taiwo Oyedele, The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Nigeria estimate that more than 90% of that did not get to Nigeria. A mere 10% of the  $20 billion 2023 diaspora remittances reached the Nigerian foreign exchange market. Nigeria Plans a $10 Billion Diaspora Fund to Attract Dollar Inflows and investment from Nigerians in the diaspora to support critical sectors including infrastructure, health care and education to grow the economy. https://lnkd.in/gMw486SW Esosa Aihie

📊 According to the World Bank, Africa is expected to receive $100 billion in remittances in 2024. In 2023, over 60% of these remittances went to Egypt, Nigeria, and Morocco. As the economic situation gets worse for many, diaspora remittances continue to provide a vital financial lifeline for a lot of families, helping to alleviate financial stress back home in Africa. In countries with high levels of emigration, remittances are often a significant source of income and contribute to household financial stability. The ongoing reliance on remittances underscores their importance in buffering against economic challenges and supporting household budgets in Africa. Click the link for more detailed insights on the State of the African Consumer: https://lnkd.in/dJ9-wdMV #Remittances #DiasporaEconomics #AfricaEconomy #Japa #Nigeria #FinancialSupport #PierrineReports #EconomicResilience

My 'Rush for Africa' partner, the intrepid author and political thoughtleader Edward DeMarco, and I are back at it. This time the spotlight is on Zambia, a country we both know well and from whence I've just returned. There's a lot happening in the country. Despite epic challenges, like 12- hour load-shedding and a crushing drought, Zambia's kwacha is Africa's best performing currency in 2024. So what's going on? What's next for Zambia and how should investors read the tea leaves? We'll do a deep-dive into these topics and more. Join us. #zambia #africainvestor #africarealestate #africaprivateequity #ZambiaInvestment #InvestAfrica#ZambiaRealEstate #ZambiaBusiness #ZambiaMarkets #ZambiaDevelopment

The World Bank reports that wealth creation in Nigeria has dropped from nearly $2,100 per head in 2020 to just $1,621 per head in 2023. A 23% fall. The World economy grew from $10,841 per head in 2020 to $13,138 in 2023 a 21% rise. This 44% difference means Nigeria now needs to grow its economy over 8 times to become an average economy in our World. The application of technology and funding from the UK, where we are now enjoying an economy that has grown to almost $49,000 per head, is illustrative of the potential of UK Nigerian Trade. If we wish to impact immigration, and African prosperity generally, we should perhaps look again at how we make our products and services available to Africa. The diaspora has a huge role to play as introducers, and trade ambassadors for UK companies who will not know how to negotiate reliable deals in Nigeria. David Lammy @Minister for Africa Ashufta Alam Terser Adamu Pata Mbela Oliver Glendenning Godson Azu MA. BA. (Hons). FOSHA. AILM Philip Gaffney Jabo Butera Ciaran McSharry Dela Seglah #Gambia #SierraLeone #Nigeria #Ethiopia #Zimbabwi #Rwanda #Ghana

Nigeria suffers from one of the highest levels of income inequality on the continent, despite its vast natural resources and standing as one of Africa’s largest economies. A nation’s prosperity is meant to trickle down, benefiting all levels of society, but in Nigeria, the divide between the affluent and poor appears to be widening. Income disparity has emerged as a key issue in Nigeria, affecting social stability and economic growth. In this article, Pgt. Charles Nnam, Pgt. Juliet Eze, Pgt. Salome Okonkwo, and Pgt. Okolie Chinwendu analyzes the relationship between income inequality and economic growth in Nigeria using the Lorenz curve and Gini coefficient as the basic analytical tools. Have an insightful read! Follow PARG for more enlightening and insightful articles on our weekly research activities. #PARGUNN #ProgressThroughKnowledge #IncomeInequality #EconomicGrowth #LorenzCurve #Ginicoefficient #Nigeria

As Nigeria marks her 64th Independence Anniversary in October 2024, the celebratory mood across the nation is juxtaposed with an undeniable reality: the country is in the throes of a profound economic crisis. Under the leadership of President Bola Tinubu, inflation has skyrocketed to 25.8%, unemployment remains intractably high at 33%, and the value of the naira continues to plummet. In households across Nigeria, many citizens grapple with rising food prices, increased taxes, and a shortage of opportunities that has led to a growing sense of desperation and disillusionment. Read more... https://lnkd.in/dswSksDw