Businesses

The Oxford Business Group (OBG) has signed a Memorandum of Understanding (MOU) for the third consecutive year on research facilities with Deloitte & Touche (Ghana) in preparation for the Group?s forthcoming project.

Under the MOU, OBG would have access to the firm?s expertise and research resources which would be used in the compilation of the Tax Chapter for the Ghana 2013 Report.

This was contained in a press statement by Oxford Business Group, copied to the Ghana News Agency (GNA) on Tuesday.

The statement said Ghana?s efforts to stabilise the economy and control inflation would be given wide-range coverage in the forthcoming report to be published by the global publishing, research and consultancy firm Oxford Business Group.

It said the report would provide key analysis of the country?s plans to develop its fledgling oil industry, which included building a $10m school for petroleum studies.

The statement said it would chart the major role earmarked for oil in driving economic growth long term on the back of increased production at the offshore Jubilee field which reached 110,000 barrels per day (bpd) in December 2012.

It cited OBG?s Regional Editor, Robert Tashima as saying: ?Ghana was set for yet another year of rapid expansion in growth, partly due to sustained demand for its export-dependent commodities; the test would be to see how successfully Ghana can channel the current gains it is making from oil, gas, cocoa and gold into prospects for future growth in the industrial and service sectors?.

The statement said OBG looked forward to working once again with Deloitte & Touche (Ghana), adding that their in-depth knowledge of the country?s tax framework had proved highly useful to investors weighing up Ghana?s opportunities over the past two years.

?Ghana has many advantages when it comes to attracting investors and has worked to enhance its business environment; certainly, its efforts to curb inflation, which ended 2012 down at 8.8%, will prove useful in this regard,? the statement quoted Felix Nana Sackey, Senior Partner at Deloitte & Touche ? Ghana.

It said The Report: Ghana 2013 would act as a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments.

It said it would build on OBG?s 2012 publication, which provided wide-ranging analysis of Ghana?s economy and currently available in print or online.

Oxford Business Group is a global publishing, research and consultancy firm, which publishes economic intelligence on the markets of Africa, The Middle East, Asia and Latin America through its range of print and online products.

OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, insurance, energy, transport, industry and telecoms.

The Ghana 2013 Report is produced with research assistance from Ghana Investment Promotion Centre (GIPC).

Source: GNA

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