Glovo, SG, others exiting Ghana due to uncomfortable economic indicators – Prof. Mensah

A senior lecturer at the University of Ghana Business School (UGBS), Professor Lord Mensah says multinational companies are exiting Ghana due to the nation’s uncomfortable economic indicators.

This comes on the back of several businesses of multinational companies in Ghana exiting the Ghanaian market.

Societe Generale is the latest to announce its exit from Ghana after 20 years of operating in the country.

“I always say that if you want to know how the country is performing let’s look out for how people look for visas to travel outside the country and then also look out for businesses who are exiting.

“So effectively if your economy is not doing well, the signal and the things you look out for is how the businesses unfold and go away,” Professor Lord Mensah stated.

“So I always tell my friends that things are not good on the grounds because if you really want to see the signals and the performance of a country you may have to look at how the country attracts foreign direct investment and then immigration how people turn to have opportunities to move out.

“The more you get some of these numbers going up then, it tells you that things are not good on the grounds so I am not surprised these businesses are exiting and Ghana is one of the countries they prioritize to exit from on the continent.