For a sustainable long term investment in Ghana , I will strongly recommend real estate if you have a flair for it.
This is because quite unlike other countries in Africa, their real estate (land and houses) is dollar denominated I'm middle class and upper middle class suburbs.

It is a well known fast on the long term dollar outperforms African currencies .

For a mature estate you can have a look at a condo(equivalent of an apartment in a high rise building in Kenya) in Devtraco estate
www.devtraco.com

Or an upcoming estate in Appolonia city
Where you can get a plot or a house
www.Appolonia.com.GH

Notwithstanding the high price in USD, payment terms (up coming estates only) is more flexible ranging from 12 to 36 months payment plans. But you need to wait for 8 to 10 years for the estate to mature in order to recoup your investment .


The high point of Appolonia city is that the President of Ghana visited there to commission an aspect of their estate that shows the genuineness and legality of the estate .

NOTE;- These are all illustrations you have to do your due diligence and you must see what you want to buy

Seconded but with a small caveat on the trend for subsaharan real estate. On average in terms of capital appreciation, the best years are behind it. Possibly another 2-3 years of above average return before the cycle shifts.

10 year period...

In that case, KES would have the upperhand. In a shorter time frame it would be the reverse.

Let's make a distinction...my recommendation is for an investor looking in. In that case past performance of either the cedi or KES counts for nothing as it doesn't indicate future performance.

For investors already holding assets in Ghana during the currency slide, the damage is already done and of course they faired far worse than KE ones.

My contention is that going forward on the short term, I don't expect KES to be a stellar performer like it has been in the past even against the cedi. So it is a question/comparison/projection of future performance without accounting for what has already transpired.