Legal Market Overview
Ghana is a stable country and has benefitted from various initiatives to keep the economy relatively buoyant during the pandemic including stimulus packages, which is seeking to improve the competitiveness of local industries by way of the reduction of the tax burden on enterprises and proposed reforms of the regulatory environment to make the country more business friendly. The new Insolvency Act was also passed recently to bring the law more into line with modern insolvency practices.
The government remains dedicated to improving and investing in roads, transport links and infrastructure. Power and oil and gas are key industries along with the mining sector. As a result, firms have been active in advising on major power and construction projects as well as various financings and restructurings.
Key local firms continue to enjoy a well-established relationship with international law firms. These leading local firms handle a broad spectrum of legal issues and a sizeable portion of the work flow stems from foreign direct investment work.