Ghana. A welcoming and warm African nation. Inhabited by over 25 million people, Ghana sits on the West coast of Africa, between Cote d’Ivoire and Togo. This recently categorised ‘lower middle income’ nation is teeming with natural resources, including gold and a growing oil industry.
Its economy is said to be strengthened by somewhat rigorous management and a competitive business environment. This has not been without challenges, and the government still face struggles from a once loose fiscal policy and depreciating currency.
Ghana has a wide range of industries and opportunities for would-be investors. The well-established mining sector is presently responsible for around five percent of the GDP. Minerals account for around a third of total exports and are one of the largest contributors to government revenues through income tax, corporate tax and royalties. Ghana is Africa’s second largest gold producer and encompasses over ninety percent of the sectors export and providing a key foreign exchange.
Ghana has embarked upon an ongoing positive reform program to improve the venture climate for both international and local investors, and has seen an increasing number of investments and re-investments. It has since been dubbed the ‘best place for doing business in the ECOWAS region’ by the World Bank. Business law is in line with international norms, and the country subscribes to multiple international conventions on industrial and intellectual property. Investors can feel assured in the sanctity of contracts for commercial rights and obligations, while the independent courts system provides equitable protection of rights.
Ghana has typically seen investments through agricultural and food processing, which employs over half of the country’s personnel. The growing services sector amounts to around fifty percent of Ghana’s GDP and there are public and private legal, consulting and accounting firms to provide expert guidance on doing business in Ghana.
To maintain Ghana’s growth, the government is working on construction and infrastructure developments, and opportunities are widespread throughout this field. The country has considerable raw materials, including lumber, stone and lime, with a ready and able labour force.
Authorities such as Ghana Ports are supporting and extending trade opportunities for the nation. The Port of Takoradi is undergoing major expansion to modernise and enhance the port’s facilities, operations, and crucially, capacity. Upon completion, this development will better serve the needs of the oil and gas, mining and trade industries, while supporting Ghana’s vision to position its seaport sas the ‘leading maritime hub and beacon of commerce’ in West Africa.
Akwaaba. An all too familiar greeting for tourists coming to this amiable land. Meaning ‘welcome’, this expression is a perfect summary of Ghana’s very essence, a country of sunshine in both weather and its people.
Ghana’s extensive sandy beaches, heritage sites and exotic wildlife are wonderfully suited to its year-round warm, tropical weather. National parks, castles, and grand lakes are just some of this country’s splendid attractions.
Ghana is striving to successfully promote the enchanting experiences it has to offer and increase international arrivals in the future. It seems Ghana’s famous black star is shining brighter than ever.