Ghana: Business in Ghana

The Republic of Ghana lies in West Africa, and shares borders with the 3 neighbouring countries of Togo, Burkina Faso and the Ivory Coast. To the south lies the Gulf of Guinea, and the Atlantic Ocean.

In 1957, the country was one of the first Sub-Saharan African nations to gain independence from the United Kingdom. Part of the colonial legacy today is that while over 100 native languages are still spoken, it is English that is the official language of the country, and predominates government and business affairs.

Well-endowed with natural resources, Ghana enjoys twice the per capita output of the poorer nations in the region, and has been recognised as one of the more economically sound countries in all of Africa. It however still remains somewhat dependent on foreign financial and technical assistance, as well as the support of the extensive Ghanaian diaspora.

The domestic economy continues to revolve around primary industries such as subsistence agriculture or fishing, which accounts for a large portion of Gross Domestic Product, and employs more than half the nation’s work force.

A well-administered country by regional standards, Ghana is often seen as a model for political and economic reform on the African continent.

The government’s goals include accelerated economic growth, improved quality of life for all Ghanaians, and reduced poverty through macroeconomic stability by the year 2020. To this effect, political stability and more private sector investment within the country is encouraged.

The media in Ghana is considered to be one of the most free in Africa, and the local populace take their civic liberties seriously. Politicians are held accountable for their actions and criticism of government policies is not unheard of.

Just as they are quick to hold their leaders responsible, the Ghanaian workforce is also one that is reliable.

BUSINESS & LEISURE

Travelling to Ghana, either for business or tourism purposes, is relatively easy. The country is well-connected internationally, both to other African destinations, as well as to countries away from the continent.

Most visitors to the country arrive at Accra - its capital, and the most populous city in the country. The administrative, communications, and economic center of the nation, Accra offers good connection options to the rest of the country. A major transport hub, Accra is also home to the Kotoka International Airport. From here, people can connect easily to international destinations or to other domestic locations.

As one of the country’s largest foreign income earners, the government has placed great emphasis upon further support and development for the tourism sector.

Thanks to its friendly people, Ghana is often touted as the “soft introduction” for first-time visitors to Africa, and has become an increasingly popular destination for tourists.

While Ghana cannot boast iconic natural wonders akin to its sister nations on the continent, the country has a charm all its own.

TRADE & INDUSTRY

The kente cloth is the best-known of all African textiles. Produced by the Akan people, it is held in high esteem and was once worn only by kings. Although its use is more widespread today, its importance has remained high.

Wood-carving is another handicraft that the locals excel at. From traditional drums to statues and collectibles, watching a master carver at work is a treat for any tourist. Look out for their varied coffins – often a light-hearted take on a usually solemn affair.

A visit to any art gallery will also showcase the numerous high-end efforts of the country’s artists. Here at the Artists Alliance, one can view and purchase works from contemporary painters, as well as old artefacts as a souvenir of the country’s past.

HISTORICAL TOURISM

A land rich in history and culture, Ghana also helps us remember the less gracious aspect of human nature.

This is the land where European traders held their African slaves in forts along the southern coast of the country, before shipping them off to the New World.

The Elmina Castle, erected by the Portuguese in 1482, is the oldest European building in existence below the Sahara. First established as a trade settlement, the building later became one of the most important stops on the Atlantic Slave Trade route. This popular historical site changed colonial hands from the Portuguese to the Dutch to the British, before finally being handed over to the Ghanaians.

Forts like these are dotted along the coast of the country, including the James Town Fort. Long after their slave ancestors were shipped out, this fort was converted into a prison, which ceased to function in 2007. A walk through the quiet corridors and a peek into the bare rooms might not be on every tourist’s to-do list, but it certainly offers a unique view of the country’s history.

Colonialism brought with it a less sombre touch to the country as well - the Aburi Botanical Gardens lie an hour east of Accra. Founded in 1890 by a student from London’s Kew Gardens, today the grounds offer many a peaceful day out with family and friends.

From the warm sandy beaches of the Atlantic coast to rich tropical forests, Ghana certainly offers the would-be tourist a rich sampling of all things African.

A country with a high level of political stability, peace and good basic infrastructure, Ghana offers the potential investor a promising entrance to the larger West African market. In addition, its tax regime that favours foreign direct investment is a definite pull factor.

Would-be investors can rest assured that their businesses will see sustainable long-term growth in this golden land of opportunities.

Indeed, Ghana today represents one of the most promising opportunities in the African world.