West Africa’s second-biggest economy, Ghana, is facing a significant budget deficit in addition to the lowest returns in three years and a four-year high in inflation. From January through May 2014, the nation’s stock market dropped from 20.2 million per year to 16.6 million, as the value decreased to 27.4 million cedi and the cedi weakened 2.7%, according to an exchange report. In an effort to counter declining trade volumes the nation’s boarse expects two initial public offerings from agricultural firms by the end of 2015. Ghana Stock Exchange Managing Director Kofi Yamoah said state owned lender, Agricultural Development Bank Ltd., and corn grower, Africa Atlantic Holdings Ltd, are preparing to sell shares despite GSE Composite Index underperformance in 2014.
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