Ghana’s economy ranked as one of Africa’s best options for growth

Ghana’s economy ranked as one of Africa’s best options for growth

- A reporter with Bloomberg has highlighted the gains achieved by Ghana and revealed why the country could grow further in future

- Noah Smith added that Ghana is showing signs of becoming a pacesetter in the West African sub-region

- The country's geographical position as well as other cardinal factors make the country favourable for an economic leap

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A reporter with American media company, Bloomberg, has ranked Ghana’s economy as one to watch in the near future.

Bloomberg’s reporter, Noah Smith, argued that the country has performed creditably on development metrics and simply needs to break free of dependence on commodities.

The report added that there are key indicators that show a country is becoming a pacesetter.

Ghana’s economy ranked as one of Africa’s best options for a leap

Source: bloomberg.com
Source: UGC

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It listed United Kingdom (UK) as the country that set the tone for change in Europe, Japan as the change maker in East Asia and possibly Ghana being the country to watch in West Africa.

It has been argued that Ghana has certain advantages in the sub-region with regard to geography, institutions and human capital.

As a country with a coast, Ghana has two ports that are used to ship and receive goods and with over 31 million people. The country is therefore well-positioned to create a substantial domestic market.

The report goes on to say that Ghana is well branded with regard to essential aspects of a nation’s building process such as quality of governance, freedom and democracy and the ease of doing business.

In other news, YEN.com.gh has learnt that Space X, a private American aerospace manufacturer, has revealed plans of flying actual astronauts into space.

Information available shows that plans are far advanced for the Crew Dragon spacecraft to head to space.

This follows a successful in-flight abort (IFA) test that was conducted in January 2020 after the company crossed off all the major milestones needed before flying people

According to a report released by the Government Accountability Office (GAO), the Crew Dragon capsule that would be used to fly astronauts is in track and could go on the mission three months earlier than was initially expected.

Termed as Demo-2, it would be second demonstration mission of the Crew Dragon, after Demo-1, which was without crew, flew in March 2019.

Per a report by techcrunch, the SpaceX spacecraft flew to the International Space Station (ISS), dock with the orbital lab, undock and return safely to Earth with a controlled landing, all using automated processes and without anyone on board.

READ ALSO: Apple fined almost GHc150 million for intentionally slowing down iPhones

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Source: Yen Ghana

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