Accountancy in Africa - Ghana

Jamil Ampomah
Jamil Ampomah

While many economies in Africa are expanding fast, accountants agree that the continent has to build its business reporting and administration. Jamil Ampomah, Director for sub-Saharan Africa at the ACCA, takes a closer look at the industry in Ghana.

Ghana is home to a thriving mining sector, especially gold, along with minerals such as bauxite and diamonds. With a positive outlook for the economy and a focus on expanding financial governance, there are significant opportunities for professional accountants. It is estimated that 7,000 more professional accountants are currently needed to support businesses there.

The thriving Ghanaian banking sector employs a large number of professional accountants. Oil and gas companies normally recruit accountants locally, but demand also exists for expatriates at financial controller level, although they will be expected to have previous international experience.

The big four global firms have a strong presence in Ghana. Interestingly, an increasing number of accountants are trying to establish their own business in what is seen as a sound economy.

There are two main accounting bodies in Ghana – ICAG (Institute of Chartered Accountants of Ghana) and ACCA, although CIMA (Chartered Institute of Management Accountants) also has a presence in the country.

ICAG was created by an act of parliament, and is the national body responsible for the training, regulation and monitoring of the accountancy profession in Ghana.

Credit: the Association of Chartered Certified Accountants is the world’s leading body for professional accountants, with more than 110 years of experience, innovation and excellence. For more details visit www.accaglobal.com