Global Expansion
Developing countries, particularly those in Africa, are increasingly presenting significant opportunities for global expansion in the wake of increased maturation and saturation of developed markets. Ghana is one of the countries in Africa that offer an ideal environment for the establishment of a ball-bearing manufacturing factor. The rapidly growing country provides attractive cultural, economic, and political environments.
Ghana is one of the booming economies in Africa. With a gross domestic product (GDP) of approximately $114 billion (in terms of purchasing power parity) as of 2015, the country has recorded impressive economic growth in the last five years, with growth averaging 8% (Central Intelligence Agency [CIA], 2016). This is one of the highest GDP growth rates in the region and Africa at large, an indication of a robust business environment. The attractiveness of the Ghanaian economy further stems from fair trade and investment policies as well as a relatively stable macroeconomic environment. This is indeed an important point of consideration when selecting a country for global expansion.
Ghana's economic growth has particularly been driven by the advancement of the industrial sector, which accounts for approximately 28% of the country's total GDP (CIA, 2016). Against the backdrop of favourable government policies, Ghana's industrial sector is growing by more than 7%, one of the highest industrial growth rates not only in Africa, but also worldwide....
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