The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger

Ghana  
Rank: 78 · Score: 40.3  

Basic facts        
Population (millions) 33.5   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 72.4   M&A volume (quartile) 2nd
GDP per capita (US$) 2,162.0   Venture capital investments (quartile) 3rd
GDP growth (per cent) 1.6   Private equity investments (quartile) 3rd
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 78 58, 56, 52, 47, 47 40.3
1 Economic Activity 61 78, 76, 71, 66, 64 72.4
2 Depth of Capital Market 75 77, 72, 65, 50, 50 29.3
3 Taxation 86 49, 48, 44, 40, 39 79.2
4 Investor Protection and Corporate Governance 93 36, 34, 32, 32, 32 49.9
5 Human and Social Environment 79 44, 45, 48, 45, 46 28.7
6 Entrepreneurial Opportunities 84 42, 41, 40, 40, 41 39.1


 
Historic performance, 2019-2023   Key driver performance, 2023
 

   
VC/PE Rank  
VC Rank  
PE Rank
Ghana  
Africa
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Environment
Entrepreneurial
Opportunites
Kenya 76.8 32.1 68.1 61.2 28.4 43.2
Nigeria 76.1 41.7 57.5 60.2 20.5 40.2
Mauritius 55.4 31.8 114.4 90.7 17.1 40.9
Ghana 72.4 29.3 79.2 49.9 28.7 39.1
Tanzania 76.5 31.5 55.1 48.3 30.2 34.9
Rwanda 48.3 24.1 73.9 73.4 34.6 33.4
Namibia 41.2 26.2 55.7 75.8 32.5 32.8
Last updated: 4 Nov 2023