Why invest in ghana?
 Over the past several years the government of Ghana has given considerable impetus to its drive to attract investment from potential local as well as foreign investors. The government's sound and pragmatic macro-economic policies, vigorous pursuit of good governance, peaceful political atmosphere and a general improvement in the conditions for doing business, have been of good help, constituting the fundamentals for attracting investment.
Ghana has been pursuing a number of reforms aimed at making the country the investment destination of choice in West Africa and, in deed, the whole of Africa, and has enacted a number of laws to enhance the business environment.
The country now has a stable economy, with a good potential for growth. Actual growth has exceeded targets for three consecutive years. Year 2006 recorded 6.2%, exceeding the set target by 0.2%. And there are strong expectations that the 2007 target of 6.5% can be met.
Ghana has B+ credit ratings from Standard and Poors and from Fitsch and was the first to submit to peer scrutiny under the African Peer Review Mechanism (APRM).
Among the many measures taken by the government towards improving the business environment is the establishment of a one-stop-shop at the Ghana Investment Promotion Centre (GIPC), whose main purpose is to fast-track the registration of investments. The one-stop-shop will soon introduce online application processing and tracking and develop a digital land bank portal and electronic interfaces with the Registrar-General's Department, Ghana Immigration Service, Bank of Ghana,
Customs Excise and Preventive Service and the National Communications Authority.
Investment opportunities in Ghana abound across a wide spectrum of sectors: Agriculture and Agro-processing (cocoa, fruits, vegetables), Fisheries, Mining (gold, bauxite, manganese), Banking, Services (finance, health, education), Tourism, Aviation, Real Estate Development, General Infrastructure (roads, railways, ports, agricultural and industrial estates), ICT, Waste Management, and Privatisation of state-owned companies.
One area of GIPC's investment focus is the large pool of resourceful Non-Resident Ghanaians (NRG). Following the historic "Homecoming Summit" in Accra in 2001, GIPC has been earnestly looking to the NRGs as a critical source of valuable skills, knowledge, expertise, technology transfer and, more significantly, investment capital. It has, therefore, established a Non-Resident Ghanaian Secretariat to deal exclusively with NRGs, with the view to attracting and harnessing their huge resource and investment potential.
In 2006, the Ghana Investment Promotion Centre registered 238 projects, with a projected investment cost of US$2,367.85 million. It was the highest number registered since the GIPC Law came into effect in 1994. Out of this Manufacturing accounted for 91.8%.
GIPC registered 2,178 projects between September 1994 and December 2006, involving a total capital outlay of US$4,645.4 million. Of this, 58.1% went into Manufacturing and 25.4% into Services, while the remaining 17% went into General Trading, Tourism, Building and Construction, Export Trade and Agriculture.
Details for Business Contacts
Ghana is an ideal location to do business and prospective investors are welcome and are, indeed, given the necessary assistance to establish and operate. For the avoidance of doubt, all prospective investors and foreign business collaborators are hereby advised, in the first instance, to deal with the under-listed official channels in exploring business opportunities and/or establishing business operations in Ghana.
For information on investment
opportunities, registration of projects involving foreign
participation, and general investment:
The Chief Executive
Ghana Investment Promotion
Centre
P.O. Box M 193, Accra
Tel: 233 (21) 665125-9
Fax: 233 (21) 663801
E-mail: gipc@ghana.com
For investment and trade in
Ghana Free Zones
The Executive Secretary
Ghana Free Zones Board
P.O. Box M 47, Ministries Accra
Tel: 233 (21) 780532-5
Fax: 233 (21) 780536
E-mail:freezone@africaonline.com.gh
For Stock Market OperationsThe Managing Director
Ghana Stock Exchange
P.O. Box 1849, Accra
Tel: 233 (21) 669908
Tel: 669914/669935
Fax: 233 (21) 669913
E-mail: stockex@ncs.com.gh
For the purchase of gold and diamonds
The Managing Director,
Precious Minerals Marketing
Company
P.O. Box M 108, Accra
Tel: 233 (21) 664931-4
Fax: 233 (21) 66258
For cocoa and cocoa products
The Chief Executive
Ghana Cocoa Board
P.O. Box 933, Accra
Tel: 233 (21) 221212
Fax: 233 (21) 667104
For export business, especially
in the non-traditional export
sector:
The Chief Executive
Ghana Export Promotion
Council
P.O. Box M 146, Accra
Tel: 233 (21) 228813 or 228830
Fax: 233 (21) 668263 or 233725
E-mail: gepc@ncs.com.gh
For the verification of
authenticity and rating of
business in Ghana
The Registrar-General's
Department
P.O. Box 118, Accra
Tel: 233 (21) 664691
For mining concessions and operations
The Managing Director
Minerals Commission
P.O. Box M 248, Accra
Tel: 233 (21) 772783
Fax: 233 (21) 773324
E-mail: mincon@ncs.com.gh |
For wood and wood products
The Executive Secretary
Timber Export Development
Board (TEDB)
P.O. Box 515, Takoradi
Tel: 233 (31) 22921-3
Fax: 233 (31) 23339
For divestiture of State-Owned
Enterprises (SOE)
The Executive Secretary
Divestiture Implementation
Committee
P.O. Box CT 102, Cantonments,
Accra
Tel: 233 (21) 772049, 773119,
Tel: 760281
Fax: 233 (21) 773126
E-mail: dic@gh.com
For Business Associations:
i. The President
Ghana National Chamber of
Commerce
P.O. Box 2325, Accra
Tel: 233 (21) 662427
Fax: 662210
ii. The Chief Exectuve
Ghana Chamber of Mines
P.O. Box 991, Accra
Tel: 233 (21) 760652
Fax: 233 (21) 760653
E-mail: chaminc@gh.com
iii. The Director-General
Private Enterprise Foundation
P.O. Box CT 1671
Cantonments, Accra
Tel: 233 (21) 7715056
Fax: 233 (21) 760653
E-mail: pef@ighmail.com
iv. The President
Federation of Association of
Ghanaian Exporters
P.O. Box M124, Accra
Tel/Fax: 233 (21) 232726,
232554
E-mail: fagc@ighmail.com
v. The President
Association of Ghana Industries
P.O. Box 8624, Accra-North
Tel: 233 (21) 777283
Fax: 233 (21) 737143
E-mail: agi@ighmail.com
vi. The Chairman
Ghana-India Development
Consortium
P.O. Box LG 531
Legon, Accra
Tel: 233 (21) 782418
Fax: 233 (21) 782418
E-mail: lawasinc@ghana.com |
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