The Ghanaian Economy

Inflation, rising bond yields, lack of electricity are some of the issues affecting the Ghanaian economy. Despite these challenges, the Ghanaian economy is considered as one of the fastest growing economy on Africa's continent. This one place where your investments will yield fruits.

According to (CNN) Despite its relatively small size and population, Ghana boasts today one of Africa's fastest-growing economies, driven mainly by its substantial natural riches and strong agricultural production.

Previously known as the Gold Coast (because of the vast quantities of the precious metal found there), Ghana gained its independence from Great Britain in 1957, becoming the first sub-Saharan nation to break the chains of colonialism.

Since then, it has navigated stormy periods of army rule and political uncertainty to emerge in recent decades as a vibrant democracy that has enjoyed several peaceful transitions of power.

Over the last six years, Ghana's economy has grown each year by an average of 6%, hitting a record-breaking 15% in 2011. Growth declined in the following years, but in 2015 economists expect the country to post strong growth of around 8%.

Unsurprisingly, the west African country has traditionally relied heavily on exporting precious metals and minerals, including aluminum, diamonds and, of course, gold -- Ghana is the continent's biggest gold producer, following South Africa.

Besides oil and gold, agriculture is a major pillar of Ghana's economy. The sector makes up around 20% of the country's GDP but, more importantly, provides employment for more than 60% of its total workforce.

At the heart of this is cocoa. Ghana is the world's second-largest producer, following the Ivory Coast, with the commodity being the country's third export product, below oil and gold.

Yet, lately the Ghanaian government has stepped up its efforts to diversify the economy, pushing for more vegetable production to help boost growth.

Last year, the country exported more than 42,000 tonnes of vegetables, up nearly four times compared to 2009.