Investing in Ghana
Ghana’s wealth of resources, democratic political system and dynamic economy, makes it undoubtedly one of Africa’s leading lights.
Gaining the world’s confidence with a peaceful political transition and a grounded and firm commitment to democracy has helped in expediting Ghana’s growth in foreign direct investment (FDI) in recent years.
Ghana has attracted the attention of well-known international businesses, investing in all sectors of our economy.
All these investors have come to Ghana because they know we have a wonderful conducive social, political and economic environment in which they can invest, grow and be successful.
Building on significant natural resources, our dear nation is committed to improving its physical infrastructure.
Moreover, Ghana has recently embarked on an ambitious but achievable reform programme to improve the investment climate for both local and international investors.
These efforts have paid off tremendously with Ghana being recognised by the World Bank Doing Business Report 2014 as the “Best Place for Doing Business in the ECOWAS Region”.
Also with the difficult times during last year where most countries did not show good growth levels due to the global economic downturn, Ghana had an economic growth rate provisional of 7.4% .
As happy as we are to receive such recognition, we are even happier to see increased investments and re-investments in Ghana as a result of these ongoing reforms.
Ghana has a solid tradition of investments in agriculture and agro-processing.
The financial services and telecommunications sectors are fast gaining ground, providing dynamic and innovative services to the most diverse customers in the world.
Further opportunities exist in manufacturing, ICT, and Tourism.
Mineral deposits including gold and diamond abound, and with the discovery of oil, Ghana’s famous black star has never shone brighter.
Tax Regime And Investment in Ghana
Local Incentives (Tax Rebates )
a)Manufacturing industries located in:
- Accra and Tema 25%
- All other regional capitals 18.75%
- Located outside regional capitals 12.50%
- b) After the initial 5-year tax holiday period, Agro-processing enterprises which use local agricultural raw materials as their main inputs shall have corporate tax rates fixed according to their location as follows:
- Accra – Tema 20%
- Other Regional Capitals (except Northern,
Upper East and Upper West Regional Capitals) 10%
- Outside Regional Capitals 0%
- Northern, Upper East and
Upper West Regions (capitals and all other locations)0%
Industrial plant, machinery or equipment and parts thereof are exempted from customs import duty under the HS Codes chapter 82, 84, 85 and 98.
An enterprise whose plant, machinery or equipment and parts are not zero rated under the Customs, Excise and Preventive Service Management Act, 1993 may submit an application for exemption from import duties and related charges on the plant, machinery or equipment or parts of the plant, machinery or equipment to the Centre.
- Constitutional guarantee
- Investment laws which guarantee 100% transfer profits, dividends, etc.
- MIGA membership
- Bilateral Investment Promotion Treaties (BITs)
- Double Taxation Agreements (DTAs)
Due to the key successes achieved under the implementation of the Ghana Poverty Reduction Strategy I (GPRS I), especially in the areas of reducing poverty from 39% to 28.5% during the period 2003 to 2005, and the attainment of relative economic stability in the economy, a successor national development policy framework, GPRS II, has been formulated to be carried out between 2006 to 2009 to focus on policies and programmes that will bring about growth of the economy and support wealth creation and poverty reduction.
Ghana’s medium term development framework, the Ghana Shared Growth and Development Agenda, pinpoints the critical and vital role infrastructure plays in propelling economic growth and sustainable poverty reduction, both key objectives of the Better Ghana Agenda.
In the specific context of improving the level of infrastructure in the country, the goal is to facilitate both intra regional trade and to open up rural areas for investment, productivity enhancement and job creation, introduce/deepen competition and create an enabling environment for the private sector to spearhead the country’s development in the following areas:
- Information and communication technology
The energy sector is the lifeline in the development of any nation. This belief informed the decision to undertake the construction of the first hydroelectric (Akosombo) dam in 1965, which continues to be an important investment in Ghana’s economic history. Over the years with the increased demand by power users for greater security and reliability other sources of power – thermal, solar and lately windmills, as well as imports – have been added to the generation mix. The thrust of Government policy in the energy sector and Ghana’s oil find in commercial quantities is to push for a significant increase in its energy resources to become a net exporter of both power and fuel within the next five years. The production of Ghana’s oil started in the year 2010.
The Ministry of Energy has the responsibility for developing and implementing energy sector policy in Ghana. As part of its oversight responsibility, the Ministry also operates the nation’s strategic reserve of petroleum products through the publicly owned Bulk Oil Storage and Transportation Company (BOST).
The sector is composed of two main sectors, namely petroleum and power. The Petroleum sector is made up of two sub-sectors – the downstream activities (i.e. finished products production, distribution) and upstream activities (i.e. exploration, development, production of oil and gas).
In the downstream segment, the Tema Oil Refinery, which operates Ghana’s only petroleum refinery with a processing capacity of about 45,000 barrels of crude oil per stream day, produces gasoline, kerosene, diesel oil, pre-mix fuel, aviation fuel and liquefied petroleum gas (LPG), among others. Tema Lube Oil Company produces assorted lubricants and special oils on behalf of the 17 licensed Oil Marketing Companies (OMCs).
In the upstream sub-sector, the Ghana National Petroleum Corporation (GNPC) is the key institution that is collaborating with private investors to prospect for crude oil and gas within Ghana’s territorial boundaries.
The Power sub-sector is run by three utilities: the Volta River Authority(VRA), Ghana Grid Company Limited and Electricity Company of Ghana Limited (ECG). The total installed generating capacity of electric power in Ghana in 2011 was 2,169.50MW. The 2,168MW comprises 1,180MW of hydro generation (Akosombo and Kpong stations), 330MW from Takoradi Power Company (TAPCO), 220MW from Takoradi International Company (TICO), 200MW from SunonAsogli, 80MW diesel plant from Tema and 110 and 49.5 from Tema Thermal 1 Power Plant and Tema Thermal 2 Power Plant respectively. (Source: Energy Outlook For 2012, Energy Commission). In October, 2012 CENIT Power Plant commences commercial operation adding a further 126 MW to the installed capacity.
However, since the beginning of the year 2013, the SunonAsogli plant has shut down production because the unavailability of natural gas supply from the West Africa Gas Pipeline Company because of damages of transmitting pipes thereby disrupting the hitherto uninterrupted energy supply in Ghana. The Government of Ghana officially took over the 132 MW Takoradi Thermal 3 Power Plant in Ghana on Tuesday April 2, 2013 which is expected to significantly cushion the loss from SunonAsogli.
Augmenting Power Production
Currently, Ghana is expecting additional energy production from the following sources by 2015:
- Osagyefo Barge – 125 MW
- Recommencement and construction of Kpone Thermal Power Plant – 220 MW
- Bui Dam (hydro) – 400 MW
- Expansion of of T2 Thermal Plant – 110 MW
- Cenpower Generation Company Ltd – 340 MW
The Ministry also has oversight responsibility over the Energy commission, which is a sector institution responsible for regulating, developing and managing the utilization of energy resources such as electricity, natural gas and petroleum products. The commission is also responsible, in particular, for preparing indicative plans for the development of the energy sector, licensing of public utilities for transmission, wholesale supply, distribution and sale of electricity and natural gas and enforcing performance standards of the utilities.
The Public Utilities Regulatory Commission (PURC) is a statutorily independent body responsible for regulating and the overseeing provision of electrical and water utility services to consumers. Its functions include protecting the interests of providers and consumers, approval of rate, monitoring performance, standards and promoting competition among service providers.
Ghana has two (2) commercial ports at Tema, in the east and Takoradi in the west. An inland port is under construction at Boankra, near Kumasi. The port of Tema covers 166 hectares of water area enclosed by 2 breakwaters. There are 2 quays housing 12 multi-purpose berths. Quay 1 houses berth 6-12, while Quay 2 houses berths 1-5. These berths are operated as common-user and a wide range of cargo including dry bulks, steel products, bagged cargo, newspapers, vehicles and containers. There is a terminal for handling crude and other liquid petroleum products. The oil berth can accommodate tanker of up to 244 metres in length with a maximum draught of 9.7metres.
Recent years have seen a rapid increase in cargo through Tema and owing to trans-shipment and transit traffic to land-locked Burkina Faso, Mali and Niger. Indications are that traffic will continue to grow in the foreseeable future.
The Takoradi port, a much smaller one, was commissioned in 1928, but underwent major rehabilitation in the 1990s. It is slated for another massive refurbishment under the Ghana Gateway Project in the near future. Currently, it handles about 60% of Ghana’s total exports, which mainly includes minerals (manganese, bauxite and gold), timber and cocoa.
A new centrally located “inland port” is being constructed at Boankra near Kumasi in the heart of the country. This is expected to be an important staging post for goods in transit to and from the landlocked countries lying north of Ghana. This will be a multi-modal facility handling both road and rail traffic. When the facility enters service, cargo owners to the northern part of Ghana will be able to use Boankra as their trans-shipment instead of Tema and Takoradi.
Due to Ghana’s oil find there is a short term development project to take place at the Takoradi port. The project which is estimated to cost about USD 50 million would involve dredging of the area to 7.0 m, land reclamation, relocation of the cocoa sheds outside the port, construction of about 500m quay walls, 650m oil berth with 10m draft, water hydrant for the supply of fresh water to vessels, office accommodation, oil storage tanks for bunkering, storage facility of oil production materials in a freezone and cargo handling equipment.
Based on cargo forecast up to year 2028 a master plan has been developed for the long term. The estimated cost of project is USD 650 million and it will see facilities like breakwater extension, paved operating areas, conveyers for clinker, bauxite and manganese, railroad, paved roads, container yard and cargo handling equipment being added to the port.
In the eastern part of Tema is one of Ghana’s main fishing harbours. Another one is at Sekondi and other minor ones are located at Elmina, Mumford and other fishing communities along the coast. The Tema Fishing harbour is divided into 3 zones – the inner outer fishing harbour has a protective water area of 15 hectares, a maximum draught of 5.2 metres and an average draught of 4.0 metres at low water level. Facilities include:
- Lay-by jetting: 155 metres long with berthing for over 50 wooden vessels
- Mooring for 20 steel vessels
- Net repairing wharf (100 metres long)
- Two (2) fishing handling sheds
- Fish market hall
The port of Tema is also a leading center of ship repairs on the west coast of Africa. Convening nearly 49 acres, the shipyard is a convenient hub for dry-docking and repairs of all kinds of ships ranging from large sea going vessels to coasters and fishing boats. It has facilities for ship repair, dry-docking, steel fabrication, general engineering, met lock repairs and non-destructive testing.
ICT is growing in Ghana, but needs more investment
It has been argued that the development of information and communication technology (ICT) provides leapfrogging opportunities for developing countries. Ghana has not been left out in this revolution. According to the Data Development Group of the World Bank, ICT infrastructure in Ghana is progressing better than other low-income countries and above the 1.1% average for Sub-Saharan Africa.
The Government of Ghana has, since February 2004, enacted an ICT development policy with 14 priority areas. The thrust of the policy is to primarily concentrate on promoting ICT physical infrastructure development, which will in turn facilitate the development of the private sector.
It is heartening to note that in 2009 Ghana was ranked as the most preferred business destination in sub-Saharan Africa for Business Process Outsourcing (BPO) business in the AT Kearney Global Services Location Index. The ranking which is based on a country’s ability to handle business is done under three main criteria: financial attractiveness; people skills and availability; and business environment.
Additionally the 2009 “Outsourcing to Africa Report” for the relative ranking of 15 country locations also recognized Ghana as ready and upcoming in infrastructure status for outsourcing with positive People Driver indicators as well.
The Kofi Annan ICT center is in Accra
The Kofi Annan ICT Centre of Excellence, a joint Ghana/India project has been commissioned with a responsibility to produce the human resource capacity needed for the emerging ICT industry in Ghana and the sub-region.
The Multi-Media Centre is also to serve as an incubator where new private companies in the industry can be nurtured and relocated to the Technology Parks Business Centre, which is to be setup at FreeZone enclave at Tema.
These notwithstanding, various investments in ICT infrastructure by existing Internet Service Providers and telecommunication companies are helping to improve communication service delivery in the country. Others too are launching systems that aim at enhancing the provision of high-speed access to the internet and multimedia capabilities. Recently, the Government signed an agreement with Microsoft Corporation under which the largest ICT Company in the world would provide resources to improve ICT education in Ghana.
Vodafone Ghana recently launched the fastest internet cafe in Africa with over 40 megabytes per second. The Vodafone internet café and retail store, with its Wi-Fi area can seat up to 100 customers in air conditioned comfort plus the outdoor seating area. Top of the line graphic card and multimedia kits are also installed for those that love online gaming.
The new Vodafone Internet Cafes & Retail stores are located in Cantonments, Accra North, Accra Central, Accra Mall, Tema, Kumasi, Koforidua, Ho, Tamale and Takoradi.
The effect of all these has been the modest growth in ICT activities in Ghana. A host of foreign companies has been attracted to Ghana. Some of these are Affiliated Computer Services, Data Management International Inc., Rising Data Solutions, Global Response, Busy Internet, AQ Solutions and Supra Telecom. Indications are that a lot more are in the pipeline.
The telecommunications sector in Ghana has been liberalized and reformed.
The monopoly of the former Post and Telecommunications Corporation was abolished with the enactment of the National Communications Authority Act, 1996 (Act 524), which established the National Communications Authority (NCA) as sector regulator.
The object of the National Communications Authority is to regulate the provision of communications services in Ghana.
The market continues to grow aggressively in all segments, particularly, in the telephony space.
Over the last 5 years and 8 years respectively, the market uptake has been growing at a compound average growth rate of 62.3% and 58.3% respectively.
With respect to the market, telephone penetration at the end of 2008 was 52.4% composed of 99% mobile and 1% fixed.
As at the end of 2008, the total number of fixed and mobile lines was 11,714,330 with fixed lines amounting to about 143,900 and the mobile lines making up the rest.
Vodafone Ghana is the main fixed line operator with a huge market share of 97.98%.
Westel which is now Zain had fewer subscribers covering the Accra- Tema Metropolis and a market share of 2.02%.
There are six (6) cellular network operators in Ghana namely: Scancom Ghana Limited (MTN), Vodafone Ghana Limited, Millicom Ghana Limited (Tigo), Airtel Communication, Expresso and Globacom Ghana Limited (Glo).As at November 2012 the market for telecom operators stood at 26,616,427.
MTN leads the pack 46% of the market share, followed by Vodafone with 21%.The other four companies –Airtel, Glo, Expresso and Glo have 12%, 6%, 1%, and 14%, respectively.
The total market share in January 2013 increased to 26,086,795 with the following market share amongst the players MTN 45%, Vodafone 21%, Airtel Mobile 13%, GLO 6%, Expresso 1% and Tigo 14%.
Internet usage has caught up rapidly with Ghanaians over the last six to ten years.
Growth has been particularly strong in the private sector for which the internet has become an important tool for business.
Below is a list of communication service providers in Ghana at the moment.
Infrastructure – Transportation
The provision of infrastructure and operations in all modes of transport in Ghana are dominated by the state. Except in the case of road transport, the public sector has been heavily involved in operations in all modes and has monopoly over rail and inland water transport.
Road transport is very important to the Ghanaian economy. It is estimated that road transport accounts for 96% of passenger and freight traffic in Ghana and about 97% of passenger miles in the country.
Road transport in Ghana may be categorized into 4 main segments, namely urban, express services, rural-urban and rural.
The demand for urban passenger transport is mainly by residents commuting to work, school, and other economic, social and leisure activities.
Most urban transportation in Ghana is by road and provided by private transport including taxis, mini-buses and state/private-supported bus services.
By road transport buses are the main mode of transport accounting for about 60% of passenger movement. Taxis account for only 14.5% with the remaining accounted for by private cars.
One important trend in road transport (especially inter-city) is that there has been a shift from mini-buses towards medium and large cars with capacities of 30-70 seats.
There has been a growing preference for good buses as the sector continues to offer more options to passenger in tons of quality of vehicles used.
According to the Ministry of Roads and Transport, Ghana’s road transport infrastructure is made up of 63,122km of road network linking the entire country as at the end of 2006.
The network consisted of 12,786km of trunk roads, 40,671km of Feeder roads and 9,764km of urban roads. The road network as 21st December, 2011 had increased to 13,367km of trunk roads, 42,100km of feeder roads and12,600km of urban roads.
On the whole, traffic densities are low, except in the large cities of Accra and Kumasi, where peak hour densities are relatively high.
The intention is to have many of the existing highways tolled and private-sector participation in road construction and ownership.
A triangular rail network (of 950km) links the three cities of Kumasi in the heart of the country, Takoradi in the west and Accra-Tema in the east.
The network connects the main agricultural and mining regions to the ports of Tema and Takoradi.
It has mainly served the purpose of hauling minerals, cocoa and timber.
Considerable passenger traffic is also carried on the network.
There are firm plans by the Government to develop the rail network more extensively to handle up to handle up to 60% of solid and liquid bulk cargo haulage between the ports and the interior and /or the landlocked neighbouring countries to the north of Ghana and elsewhere.
The government has set out seeking the necessary investment to restore the network, improve speed and axle load capacity and replace worn-out rolling stock.
Plans are far advanced to privatize the State-owned Ghana Railways Corporation (GRC) through concession and to provide much greater capacity for rail haulage of containers and petroleum products. Government also has plans of linking the suburbs of Accra to the central business area by rail and also links the north to the south to serve the landlocked countries north of Ghana.
The country is at the hub of an extensive international (and national) airline network that connects Ghana to Africa and the rest of the world. Most major international carriers fly regularly to Kotoka International Airport (KIA) in Accra, the main entry point to Ghana by air.
This is the result of Ghana’s open skies policy, which frees an air space regulator from the constraints on capacity, frequency, route, structure and other air operational restrictions. In effect, the policy allows the Ghana Civil Aviation Authority (GCAA) to operate with minimal restrictions from aviation authorities, except in cases of safety and standards and/or dominant position to distort market conditions.
Ghana is working to position herself as the gateway to West Africa. KIA remains the leading and preferred airport in the sub-region, having attained Category One status by the US Federal Aviation Administration (FAA) audit as part of their International Aviation Safety Audit (IASA) programme.
As at now, Ghana is one of five countries in sub-Saharan Africa in this category. The others are Egypt, South Africa, Nigeria and Morocco. It handles the highest volume of cargo in the sub-region and has all the requisite safety facilities, recommended practices and security standards.
A rehabilitation programme embarked upon since 1996 has brought about an expansion and refurbishment and upgrading of facilities at the international terminal building, as well as the domestic terminal. These terminals now have significantly increased traveler and cargo capacity.
The airport’s runway has been extended to cater for all types of aircraft allowing direct flights from Ghana at maximum take-off weight without the need for technical stops en-route.
Another important part of the airport development programme is the Airport City Project. This involves an enclave adjoining the airport, which has been created, serviced and leased to private companies and entrepreneurs who are constructing hotels, shopping malls, entertainment centers, etc to complement the operations of GCAA
Below is a list of international airlines operating in Ghana:
- AIR MALI
- ARIK AIR
- BRITISH AIRWAYS
- EGYPT AIR
- EMIRATES AIRLINES
- ETHIOPIAN AIRLINES
- SOUTH AFRICAN AIRWAYS
- MIDDLE EAST AIRLINES
- CEIBA INTERCONTINENTAL
- AIR BURKINA
- KENYA AIRWAYS
- VIRGIN ATLANTIC
- DELTA AIRLINES
- UNITED AIRLINES
- AERO CONTRACTORS
- AIR NAMIBIA
- ROYAL AIR MAROC
- AIR NIGERIA
The Volta Lake was created in the early 1960’s by building a dam at Akosombo and flooding the long valley of the River Volta. It is the largest man-made lake in the world stretching 415km form Akosombo 101km north of Accra, to Buipe in northern Ghana, about 200km from Ghana’s border with Burkina Faso.
As a waterway, the Volta Lake plays a key role in the “Ghana Corridor” programme by providing a useful and low cost alternative to road and rail transport between the north and the south. Ghana is in an advantageous position, by virtue of her seaports and inland lake transport system, to service the maritime needs of land-locked countries to the north of Ghana.
A company, Volta Lake Transport Company (VLTC) uses a fleet of pusher tugs and assorted barges to provide regular north-south services for general cargo and liquid bulks, and tramping service for local traders. VLTC carries 88,000 tones of cargo annually.
Northbound, one of the most important cargoes is diesel oil, which is piped to Akosombo from the Tema Oil Refinery and taken on to final destination (Buipe) by barge. Other cargos include alumina, sulphate, cement, fertilizer, stores and oil products, all of which are conveyed to Akosombo by truck.
Southbound, the barges carry a range of agricultural produce including cassava chips, cotton lint, cottonseed and sheanuts. All these items are Trucked south (from Akosombo) to Accra and Tema, from where cottonseeds and sheanuts are exported.
VLTC also operates a 300-passenger capacity vessel between Akosombo and Yeji in Northern Ghana (293km). This vessel is designed to carry cargo as well as passengers.
A strong and stable democracy
In many ways, Ghana’s political scene is one of its most recognisable defining features. Descriptions of the country, including this report, often stress the fact that Ghana, in contrast to many of its neighbours, has had two decades of stable democracy, with free and open elections, comparatively low levels of corruption and a lack of broader social instability.
This, combined with rapid economic growth, has helped bolster investment, as have strong relations with the likes of the UK, the US, the EU and, increasingly, emerging powers such as China, India and South Africa. In fact, the country often punches above its weight in the diplomatic arena.
This is not to say that Ghana has been immune from political turbulence and coups in the past, but it has made significant progress in recent decades towards ensuring a sustainable foundation for democratic growth.
This has been made all the more evident following the death of President John Atta-Mills from cancer in July 2012, with a peaceful and smooth transition of power to the vice-president, John Dramani Mahama. While the passing of Atta-Mills added a new dimension to the parliamentary and presidential elections in December 2012, the broader business of state has been left largely untouched.
Ghana’s Coat of Arms
Democratic Role Model
Ghana is rated as “free” by NGO Freedom House (of the categories not free, partly free and free), as is its press. The country is widely perceived as stable; for example, the World Economic Forum’s 2011-12 “Global Competitiveness Report” ranked “Coups and instability” last of 15 problematic factors for doing business in the country.
Policy instability” was ranked 11th out of the15. While corruption is an issue, the country is a strong performer in regional terms. The 2011 Transparency International Corruption Perceptions Index ranked Ghana as the 69th-least-corrupt country in the world (out of 182), and second-least-corrupt in the Economic Community of West African States (ECOWAS), after Cape Verde.
These factors mark Ghana out as a major regional political success story. “Ghana is a flag-bearer for Democracy in Africa. There have been five free and fair elections in the past 20 years and two peaceful transfers of power, which is enough in itself to attract substantial investor interest,” said Alasdair Hamilton,
the head of UKTI Ghana. Indeed, many international companies have been looking at Ghana as a regional centre for their activities in West Africa, despite its not being the largest economy or oil producer in the region, due in large part to its stability. “Ghana needs to keep that headline,” said Hamilton.
The reasons commonly cited for Ghana’s status as a regional haven of stability and democracy include the fact that the country won its independence peacefully, as well as its diverse ethnic make-up; no ethnic group is sufficiently strong to threaten to monopolise power, and it is felt this obliges governments to reach out to all groups.
The country also has a strong sense of national identity that supersedes other affiliations such as ethnicity and tribe, more so than in many other African countries, which some attribute to factors such as an educational system in which people from different backgrounds tend to mix.
While religious sentiment is strong, tensions between various religious groups (just under 70% of the population is Christian, divided between Pentecostals, Protestants Catholics and other dominations, while around 16% is Muslim and around 9% follow traditional religions) are low.
Civil society is also well developed, putting pressure on government and allowing for peaceful outlets for frustrations and dissent. “Ghana has a very strong civil society base,” Kwakye told OBG.
Source: Report Ghana by OBG
Cost Of Doing Business
Step 1: Business Registration at Registrar General’s
All Limited Liability companies are expected to fill out the relevant Application Forms, which serve as the Company’s Regulations. All companies must have an auditor, who must be a member of the Institute of Chartered Accountants, but should not be an officer or servant of the company or be an employee or partner of such persons. When all such forms have been filled satisfactorily and relevant fees paid, a Certificate of Incorporation and a Certificate to Commence Business are issued.
Step 2: Register with the Centre (GIPC)
The GIPC is responsible for registering all Enterprises in Ghana.
Application Procedure: Investors are required to complete Investor Registration Forms (Form GIPC/R1) in triplicate. Within five (5) days from the date of orderly receipt of these forms (and its attachments) the GIPC will formally register the investment.
Below is a sample form
Labor and Employment
The Labour Act 651 of 2003 regulates employment and labour issues in Ghana. This Act consolidates all laws relating to labour, employers, trade unions and industrial relations.
The Value of Labour
The current minimum wage is at GHS 5.24 per day as at April, 2013. Also below is the average salary for unskilled, semi-skilled and skilled workers.
Ghana Immigration Service
The Ghana Immigration Service has been established as the agency of the government of Ghana to advise on and to ensure the effective implementation of all laws and regulations pertaining to immigration and related issues. The Ghana Immigration Service is mandated to regulate and monitor the entry, residence, employment and exit of all foreigners. Movement of Ghanaians in and out of the country is equally monitored.
Companies operating in Ghana are liable to pay varied levels of taxes depending on the sector of operation, and the location of the project and whether the company is listed on the Ghana Stock Exchange. Taxable profits are based on profits declared in audited accounts subject to adjustments made for capital allowances.
Income tax incentives are provided under the Internal Revenue Act, 2000 (Act 592) and further amended by Internal Revenue (Amendment) (No.2) ACT, 2006 (ACT 710)6. Income Tax rates applicable to resident individuals are:
Current utility tariffs announced by the Public Utilities Regulatory Commission
Rent in Ghana
- There are a number of buildings springing up for letting for businesses located mainly at prime areas in Accra and Tema. Broll Ghana Limited is the property manager for most commercial properties in Ghana.
- The average retail rent is US$ 60 to US$ 65 per square meter, and the average price for an office space is US$ 35 to US$ 40 per square meter. Broll can be contacted via this website:brollghana.com or email:firstname.lastname@example.org .
- Average annual rent for expatriates three-bedroom homes ranges from US$ 42,00 to US$ 50,000
- Rents in the Western port town of Takoradi average US$ 7,000 per month, according to data compiled by Broll. Two bedroom facility ranges between GHC250 to GHC 500 per month on the average.
- For house prices the price of a two unit bedroom house with kitchen and washroom range averagely about U$D 50,000(Note prices could be less or more than figure shown).Contact the Ghana Real Estates Developers Association onhttp://www.gredaghana.org.
Land for Development (49 years for Lease)
- Residential —————– US$ 5,000 to US$ 150,000 / 100’ x 80’
- Industrial Land —————— US$ 30,000 to US$ 150,000 per acre
- Farm Land ———————— US$ 35.00 to US$ 50.00 per month
*Please note that prices here are only indicative
Laws and Regulations
Business and the Law
Business law conforms to international norms and is based on a framework of legislation relating to business activity, copyrights, patents, trademarks, disputes and labour relations. Ghana subscribes to a number of international conventions on industrial and intellectual property. There are numerous public sector agencies as well as private legal, business consulting and accounting firms, which can provide expert guidance on doing business in Ghana.
Sanctity of contracts ensures respect for commercial rights and obligations. Damages are compensatory, not punitive, and an independent court system ensures equitable protection of rights. Mediation, arbitration and other forms of dispute resolution are routinely used.
The Key Investment related legislation in Ghana is the Ghana Investment Promotion Centre Act 2013, Act 865. There is also a Technology Transfer Regulations, 1992, LI 1547
Businesses operating in Ghana need to be familiar with the following Legislations:-
The Companies Act, 1963 (Act 179)
Ghana Free Zones Act, 1995 (Act 505)
The Internal Revenue Act, 2000 (Act 592)
Fisheries Act, 2002 (Act 625)
Forestry Commission Act, 1999 (Act 571)
National Communications Authority Act, 1996 (Act 542)
Petroleum (Exploration & Production) Law, 1984 (PNDCL 84)
The Minerals Commission Act, 1993 (Act 450)
The VAT Act, 1998 (Act 546)
Banking Law, 1989 (PNDCL 225)
Environmental Conservation Act
The Labour Act, 2003 (Act 651)
Foreign Exchange Act, 2006 ( Act 723)
Ghana Investment Promotion Centre Act, 2013 (Act 865), provides guarantees including prohibition against discrimination and expropriation to all enterprises. Subject to the Foreign Exchange Act, 2006 (Act 723) and the Regulations and Notices issued under the Foreign Exchange Act, an enterprise is guaranteed free transferability through any authorized dealer bank in freely convertible currency of dividends or net profits attributable to a foreign investment; payments in respect of loan servicing where a foreign loan has been obtained; fees and charges in respect of a technology transfer agreement registered under this Act and remittance of proceeds (net of all taxes and other obligations) in the event of sale or liquidation of the enterprise or any interest attributable to the investment.
MIGA, IPPA and DTA
Ghana is a member of the Multilateral Investment Guarantee Agency (MIGA) of the World Bank, which provides investment guarantees against non-commercial risk for investments in developing countries. Additionally, the Government has entered into bilateral Investment Promotion and Protection Agreements (IPPAs), as well as double taxation treaties with a number of countries to further enhance the protection and security of the investment regime.
President John Dramani Mahama, on 7th January 2013 promised that, as the President of Ghana he will work hard to place the nation on the right path by leading the country to overcome the hurdles and past obstacles that have threatened it from meeting it goals.
In delivering his state of the nation address he mentioned that partnership with the private sector has brought accelerated growth and development of the economy. To deepen the implementation of the Private Sector Development Strategy (PSDS) II, The president has inaugurated a Private Sector Advisory Council under his chairmanship to cover all major aspect of private sector development. He asserted that as a policy he is requesting his public officials to give priority to the Ghanaian Private sector in goods and service where they are competitive in value, quality and delivery.
Ghana improved from the 92nd position in 2009 to the 63rd in 2012 on the World Banks “Ease of Doing Business Index” as it witnessed impressive development in roads and social infrastructure in the last two decades with a private sector playing a pivotal role. The Ghana Investment Promotion Centre (GIPC), he said was in the process of transformation to meet the challenges of the 21st Century Investor. He stated that a well designed and efficient public sector working in partnership with a private sector will be instrumental in its objectives to deliver a prosperous nation. He again mentioned that his administration will pursue economic development with a sense of urgency in order to create new jobs particularly for the youth and in partnership with the private sector, expand its infrastructure in a manner that will accelerate economic growth.
- Agriculture & Agro-Processing
- Cotton & Textiles
- Food Processing
- Mineral Processing
- Oil & Gas
Agriculture & Agro-Processing
If you want to do Agric Talk to:
Michael A. Acheampong
+233 302 665125
Evans Elvis Acquaah
233 302 665125
- Provision of agricultural inputssuch as improved seeds and agrochemicals including fertilizers, pesticides and herbicides. Veterinary drugs, vaccines and chemicals; animal feed and feed ingredients are also required.
- Opportunities exist in the processing ofagricultural products such as cereals (maize, rice, millet) starchy crops (yam, cassava. Sweet potato, plantain), vegetables (carrots, cabbage, garden eggs, tomato), fruits (pineapple, pawpaw, banana, mango), industrial crops (rubber, sugarcane, cotton, oil palm, coconut, cocoa, coffee), livestock (cattle, pigs, poultry, sheep) and fisheries (tuna, tilapia, catfish). Rearing of silk worm for the production of raw silk.
- Additionally there is a need for the processing of dairy productsas well as the supply of machinery to establish hatcheries for day-old chicks.
- Floricultureoffers a lot of opportunities as Ghana’s climate and topography make the country suitable for the cultivation of a number of exotic flowers. Species such as heliconia, caribea, celosia, curcuma, gladioli, hibiscus, roses, ornamental palms and ferns perform well under natural conditions. There is potential in the national, regional and European Union markets
- Investment opportunities exist in the agro-processingindustry to add value, reduce post-harvest losses, promote price stability and expand demand for local agricultural produce. For example, with the processing of cocoa beans into cocoa products and fruits into fruit juices among others.
- Developing irrigable land through irrigationis another key area. While Ghana has a potential irrigable area of 346,000 hectares, only 10,000 hectares have been developed.
- Technological and support servicesalso require investment. Key areas are in the supply and installation of cold chain equipment, packaging and factory building technology
- In the distributionfield, companies are required to provide post-production services in transport, packaging and cold vans.
- There are further opportunities in standards, training and certification; capacity building for management and market-oriented enterprises; market intelligence research and in the development of agricultural finance and insurance.
- Investment opportunities exist in the production of agricultural inputssuch as fertilizers, pesticides and fungicides.
- Technologyand services in the agricultural sector which include irrigation, heavy equipment hiring (i.e. hiring of tractors, ploughs, harrows and combine harvesters etc) provide investment opportunities.
- Investment opportunity also exists in the storage industry. Inadequate and inappropriate storage facilities are constraints to agricultural production thereby contributing to high post-harvest losses and low returns for farmers and processors.
Ghana commands a great share of the African quota of EU market in fruits and vegetables export. Other leading processed agricultural export products were processed tuna, cut fresh pineapples, other prepared fish and tomato paste.
Cocoa has historically been a key economic sector and a major source of export and fiscal earnings. Ghana is the second largest cocoa-growing country in the world.
The leading non-traditional products were Fresh or chilled tunas, Shea nuts, Cashew, Fresh or chilled fish, yams, Banana and Pineapples.
From Ghana’s total land area of 23.9 million hectares, about 57% is suitable for agricultural purposes.
The country is classified into three main agriculture zones. The forest vegetation zone consists of parts of Western, Eastern, Ashanti, Brong-Ahafo and Volta Regions. The northern savannah vegetation zone includes the Upper East, Upper West and Northern Region while the coastal savannah includes mainly the Central, Greater Accra and parts of Volta Region.
The northern savannah zone is the largest agriculture zone. Most of the nation’s supply of rice, millet, sorghum, yam, tomatoes, cattle, sheep, goat and cotton are grown in the region. In recent times, mango and ostrich commercial farms are also gaining footholds in the northern zone.
The coastal savannah is notable for rice, maize, cassava, vegetables, sugar cane, mangoes and coconut, as well as livestock. Sweet potato and soybean crops are viable in this agro–ecological zone, under irrigation. The lower part of this zone is drained by River Volta. Together with other streams and lagoons, these water resources present opportunities for fish farming or aquaculture.
In the forest zone where rainfall is plentiful, cocoa, coffee, oil palm, cashew, and rubber are cultivated as is the majority of plantain, banana and citrus supplies crops. The major strengths of the sector include a diversity of commodities, well-endowed drainage basin, a well-established agricultural research system and a relative proximity to the European market.
Agriculture contribution to GDP over the years has shown a steady reduction from 35.4% in 2006 to 25.6 in 2011. The growth rate of the sector however doesn‘t show any clear trend. The growth rate reduced from 4.5% in 2006 to 4.3% in 2007, increased to 5.3% in 2008 and finally reduced to 0.8% in 2011.
Additionally, the agriculture sector recorded a growth rate of 2.6% against a target of 4.8% in 2012 and an actual outturn of 0.8% in 2011.
Sector Earning In Foreign Exchange
About USD 4.23 billion was generated, representing a 70% increase over 2010 earnings of USD 2,490 billion. This however, excludes income from the cocoa sector during the same period. The increase in the export values of horticultural commodities is attributed to increase in quantities exported resulting from strategic initiatives that MOFA in collaboration with other partners are implementing to ensure GlobalGAP compliance by farmers and exporters.
Cotton & Garments
If you want to do cotton and garments , talk to:
+233 302 665125-9
Textile manufacturing in Ghana is an industry consisting of ginneries and textile mills producing batik, wax cloth, fancy printed cloth and Kente cloth. Firms have located in Ghana to serve local and regional markets with printed African patterned fabrics. The industry has shown signs of significant growth in recent years, promoting high-quality traditionally designed fabrics as “Made in Ghana” to niche markets, especially the US.
Ghanaian textile companies prefer to locate within designated industrial areas to take advantage of Ghana’s free zone regime and stable operating environment. Today, Ghana’s textiles industry include vertically integrated mills, horizontal weaving factories and the traditional textile manufacturing firms involved in spinning, hand-weaving and fabric-processing.
Textile exports include:
- Cotton yarn]
- Cotton fabric
- Printed fabric
- Polyester fabric
- Bed sheets
The dry, savannah climate in the northern regions of the country is ideal for the cultivation of cotton, which is the primary material used by mills, weavers, batik, and tie-dye manufacturers in Ghana.
The industry is supported by National Vocational Training Institutes throughout the country. These institutes provide basic practical and theoretical training in tailoring and dressmaking. There are also a growing number of private fashion design institutes and internationally acclaimed designers that teach latest techniques to aspiring textile designers.
The government has initiated various policies aimed at restructuring and improving the textiles industry. The objectives include
- Increase of employment opportunities for the growing population
- Expansion and diversification of the economy
- Promotion of both domestic and foreign investment
If you want to do Food processing, talk to:
+233 302 665125-9
Investment opportunities exist for producers and processing companies in the following areas:
- Companies to process maize, yams, cassava, oil palm, citrus, mango, cashew, coconut, cowpea and traditional vegetables e.g. tomatoes, pepper
- Production of value-added cocoa and coffee products
- Production of improved seeds and agro-chemicals (fertilizers, pesticides, weedicides)
- Processing of dairy products
- Production of inputs such as fertilizers, pesticides, and fungicides
- Processors and manufacturers to supply packaging materials
- Producers to supply planting materials
- Production of horticultural products for processing (e.g. maize, yams, cassava, oil palm, citrus, mango, cashew, coconut, cowpea and traditional vegetables e.g. tomatoes, pepper etc.) for national, regional and European Union (E.U) markets
- Development of private irrigation facilities
Technological and Supporting Services
- Processing machine manufacturers to supply cold chain equipment
- Companies to provide installation of cold chain equipment
- Companies to train manufacturers in packaging and packaging technology
- Companies to train producers in the use of food processing technology
- Machine manufacturers to establish hatcheries for day-old chicks
- Processing machine manufacturers to supply processing plants
- Suppliers and financiers of factory building technology.
Marketing and Distribution
- Companies to provide post-production services (transport, packaging, cold vans)
- Companies to provide distribution of improved seeds, planting materials and agro-chemicals (fertilizers, pesticides, weedicides)
- Companies to market processed foods in international markets
If you are interested, Talk to:
+233 302 665125-9
Investment opportunities include:
- Establishment of Wood and Non-Timber Forest Products (NTFP) based Small-Medium Enterprises (SMEs) and plantations
• Establishment of Farm Forest Wood Lots
• Establishment of Pulp Paper and Panel Industries
• Establishment of Plantation Based Construction Grade Timber and Fiber Supply
• Provision of tree seedlings for plantation species e.g. teak
Information available indicates that there is high demand for medicinal plants from Ghana. Scientific information available indicates most parts of Ghana are suitable for the cultivation of various medicinal plants. Particular plants like Cola Nitida locally known as “Bese”, Alchornea Cordifolia (Ogyama), Griffonia Simplicifolia (Kagya), are high in demand by both international and local markets.
Interested in Health Talk To:
+233 302 665125-9
Investment opportunities available in the health sector are in:
- Hospitals and clinics
- Health Centers
- Maternity Homes
- Chemical shops
- Hospital equipment
- Research and development facilities
- Drugs and pharmaceuticals
- Preventive products e.g. condoms, mosquito nets
If you are interested, talk To:
Michael Agyekum Achempong
+233 302 665125-9
Evans Elvis Acquaah
+233 302 665125-9
The following are the investment opportunities in the horticulture industry in Ghana:
Investment opportunities are available for companies/factories to produce horticultural products for the local and international markets, especially to European markets. The EU is the main destination for Ghanaian horticultural exports.
On the local markets the main horticultural products are yams, plantains, cassava, cocoyam/leaves, beans, groundnuts, tomatoes, chilies and onions.2. Raw Materials
Investment opportunities are available for companies to:
- Produce horticultural seeds
- Provide sustainable irrigation services in the industry
- Organize small-holders into out-grower systems for production
- Supply fertilizers, pesticides and other agricultural chemicals to the industry
- Marketing and Distribution
Investment opportunities are available for companies to:
- Provide packaging materials
- Buy the horticultural products for exports
- Supply and install cold chain equipment
- Organize small-holder firms into out-grower systems for marketing
- Provide post production services (transport, cold vans) Joint ventures
- Package and ship floral products to international markets
Opportunities are also available to invest in supply chain management to add value to the horticultural products. The supply chain can combine commercial quality (branding) of the product together with environmental quality (labels/certificates) and social quality (labels/certificates) in their product proposition towards their customers.
4.Technological and Supporting Services
Investment opportunities are available for companies to provide:
- Technological and consulting services
- Financial services and products to the industry
- Research and development services
- Inspection and grading according to international standards to make the deliveries acceptable in international markets
- Capacity building on standards, training and certification
Incentives to the sector may apply under the following provisions:
- There is custom duty exemption for agricultural and industrial plant, machinery and equipment imported for investment purposes.
- Listed companies enjoy corporate tax of 25% and newly listed companies enjoy 25% corporate tax for the first three years.
- There are locational Incentives (tax rebate) for manufacturing industries located in the regional capitals.
If you are interested, talk to Director
+233 302 665125-9
Emphasis on investment promotion has been a major objective of the industry with a shift to a comprehensive vision that facilitates greater exploitation of Ghana’s industrial minerals.
Investment opportunities in the industry are in the areas of exploitation or production and industrial processes. They include:
- The production of industrial minerals for both local and international consumption
b. Applications/processing of industrial minerals in the areas of construction, ceramics, paints, electronics, filtration, plastics, glass, detergents and paper.
a. Companies to set up refinery facilities to serve the local industry for value-added products.
b. Companies to exploit and produce solar salt. Potential exists for the utilization of part of the salt to produce caustic soda which is a raw material for the soap and detergent industry. The chlorine co-product can also be used as water treatment chemical and also serve as raw materials for the production of various health and sanitation chemicals.
c. Companies to produce clinker for the mining industry. Demand for clinker is estimated at over one million metric tons per annum.
d. Companies to exploit the extensive deposit of granite to produce high quality floor tiles.
e. Companies to produce dimension stones for the building industry
f. Suppliers to supply salt for the local market.
Engineering and Services
a. Service companies to provide support services, including contract drilling, assay laboratories, contract mining and geological consultancies to mining companies in the country.
b. Companies to set up manufacturing plants and machinery for the mining industry.
c. Companies to set up downstream production facilities to manufacture key input for the mining industry. Examples, mill balls, drill bits, cyanide and activated carbon.
Specific incentives to the sector include:
- Depreciation 75% of the capital expenditure incurred in the first year of investment and 50% of the declining balance in subsequent years
b. Investment allowance of 5% in the first year only
c. Losses in each financial year not exceeding the value of the capital allowance for the year may be carried forward. Capitalization of all pre-production expenses approved by the authorities when the holder starts development of commercial mining.
The Holder of a Mining Lease is also granted the following Benefits:
a. Exemption of staff from out of Ghana payments of income tax relating to furnishing accommodation at a mine
b. Immigration quota for expatriate personnel free from any tax imposed by government for the transfer of foreign currency out of Ghana
c. Exemption from the selective alien employment under the selective alien employment decree
Ghana’s Minerals and Mining Act 2006, Act 703 has added some significant aspects to the country’s commercial law and they are:
a. Expenditure on exploration and development may be capitalized in accordance with regulated amortization provision for tax relief
b. Capital allowances have been designed to shorten the pay-back period and include 75% write off of capital in the first year and 50% annually thereafter on a declining balance
c. Retention of a proportion of revenue in foreign currency account for use in acquiring essential equipment and spare parts required for mining operations which would otherwise not be readily available without the use of such earnings
d. Exemptions from import duties on imported plant and equipment.
Oil and Gas
To invest in Oil & Gas Talk to:
Martha Oppong Afriyie
+233 302 665125
Due to the emerging nature of the industry, opportunities exist in virtually every area of the petroleum industry, both upstream and downstream.
Upstream Petroleum Sector:
- Geophysical (Site surveys, seismic data acquisition, processing and interpretation)
• Basin modelling
• Geological Studies
• Biostratigraphy Sequence Stratigraphy
• Geochemical Studies
• Geographical Studies
• Equipment supply and/ or leasing (boats, barges, aircrafts, etc)
• Supply of casings for boreholes
Drilling Products and Services:
- Land Drilling Rigs, Swamp Drilling Rigs, Petroleum Engineering & Consultancy Services
• Offshore Drilling Rigs (jack-ups, semi- submersible rigs, submersible rigs etc)
• Offshore Rig Towing Services, Rig Move/Positioning Services
• Drilling Mud , Chemicals, Mud Logging & Mud Logging Services
• Drilling Site Preparation, Well Control & Blow-out Prevention
• Under-water Inspection, Sand Control, Fish & Fishing Tools
• Dry-dock facilities for offshore supply vessels, tugboats, & offshore rigs
• Measurement While Drilling (MWD) & Logging While Drilling (LWD) Services
• Casing & High Pressure Pumping ,Tubing Services ,Tools & Cased-Hole Electrical Logging
• Directional Drilling & Survey as well as Drilling &Workover
• Surface & Bottom Hole Sampling & Tubing Conveyed Perforation ( TCP)
• Fluid Filtration, Solid Control and Laboratory & Pilling Services as well as PVT Analysis
• Mechanical Wireline Services and Petrophysical& Reservoir Data Services
• Coil Tubing & Electrical Line and Production Logging
• Oil Field Waste Management, Jetty and Shore Support Services and RiglessWorkover Services
• Well Production Testing, Wellhead Maintenance & Well Completion Services
• Supply of drilling materials and equipment (drill bits, drill pipes, drill collars, cone bits etc)
Production Support Services:
- Wireline Services & Pipeline Laying/ Inspection
• Production Chemical Supplies & Management
• Engineering Design, Procurement/Construction of production facilities
• Corrosion Engineering & Environmental Engineering Services
• Blow Out Central Services & Flow Line Construction
• Oil Expand Terminal Design and Construction & Crude Oil Lifting
• Fire Fighting system Design and installation & 2/3 Phase Meter Supplies
• Supply & Maintenance of Safety Equipment
• Gas Valve Supplies & Installation
- Consultancy Services
• Economic Analysis
• Complete Field Study
Down Stream Sector Business Opportunities (Marketing, Storage, Distribution, Transport, Refining):
- Technical Partnership
• Field Development Contractor Financing
• Gas utilization
• Refineries maintenance
• Pipeline/ Depots construction and maintenance
• Petroleum Products haulage
• Petroleum products marketing
• Gas Development/conversion
• Butanisation project
• Fertilizer plants
• Vehicular fuels
• Methanol / MTBE plants
Gas Sector Opportunities
The government as at December 2008 had finalised plans for the establishment of an onshore natural gas processing plant to process the natural gas that will be produced from the jubilee oil and gas field.
The first phase will entail a 150million ft3 gas processing plant at Atuabo which is at least 50 km East of Effasu and 100km West of Takoradi. An 8km2 land area has been acquired to be developed into a petrochemical industrial park to house the gas processing plant and ancillary industries.
Opportunities available in this sector include:
- Production, transmission, distribution of Natural Gas –independent ownership
• Natural Gas Liquids (NGLs) – these liquids have high market value and find application either in their raw state as solvents, feed stock (for production of various chemicals) and liquid fuel or fractionated into their components, viz.: LPG, Natural Gasoline etc
• Natural Gas-Fired Equipment
• Independent Power Plant (IPP)
• Industrial market, commercial market and residential market
• Domestic natural gas sales and distribution
• Compressed natural gas as, (NG) automotive fuel, Gas Liquids (NGL), Gas to Liquid Conversion (GTL), Methanol etc
• Ammonia/fertilizer plants
Emmanuel Nii Adjah Badger
+233 302 665125
Gideon Seyram Tsike
+233 302 665125
The increasing number of tourists and the evolving profile of today’s traveler demand a host of new tourism offering and infrastructure projects. A wide spectrum of investment opportunities arise out of Ghana’s long-term tourism plans
1. Tourist Accommodation
o Multi-hotel resorts; one each for the Volta Estuary; Accra and environs; Brenu beach in the Central Region; Cape Three Points area in the Western Region; Lake Bosumtwi in Ashanti, the Volta Lake Basin incorporating Dodi Island, Dwarf Island, Digya National Park, Melinli Peninsular, Amedzofe and Wli-falls in the Volta Region.
o Single-hotel resorts at beach sites, botanic garden sites, other lake sites etc.
o Mountain Resort
– Business Hotels of all classes.
o Lodges and Inns; desirable locations include eco-tourism sites (eco-lodges in National parks), as well as other isolated tourism attraction sties and towns.
o Motels on major tourist routes.
o Hostels particularly on or near university campuses for dual use by tourists and campus students.
o Camping Sites for the trans-Saharan adventure tourists with Paga, Tamale, Kintampo Falls, Kumasi, Accra.
2. Motel and Highway Rest Stops
- a) Small Scale Rest Stop: this is a simple basic road-side stop with facilities for parking; washrooms; basic refreshment, etc.
(b) Medium Scale Rest Stop: Fairly elaborate with facilities for parking, washrooms, cafeteria, shop, fuel and auto servicing.
3. Tourist Information Shops
These independent shops are in high demand in major tourist centres particularly Accra, Kumasi, Cape Coast/Elimina and border entry points.
4. Tourist Transport Services
The under-listed services are required at major tourist locations:
a) Tourist Taxi
This is highly inadequate; it may be operated by companies licensed by Ghana Tourist Board and registered to operate from specified bases namely hotels, airport and other transport terminals.
b) Air Taxi
This is also highly inadequate but there is growing demand for it by both business and holiday visitors requiring quick visits to locations outside Accra.
- c) Car Hire
The growing tourist traffic is not being matched by investments in the various categories of road transport vehicles especially tourist coaches, tourist buses, limousines, and cross-country vehicles for trekking and safaris.
- d) Cruise Boats
The Volta Lake offers opportunity for the operation of various types of lake transportation for various leisure purposes such as cruise excursions or purely passenger service or for a more personalized recreation like fishing etc.
5. Tourist Travel Services
The growth of various types of tourism has created opportunities for investing in tourist handling services including:
- a) Tour Guiding Services: These involve setting up a company which employs a pool of tour guides for operators, conference organizers etc.
- b) Tour Handler Services: This is a small-scale operation whose services may be hired by an in-coming tour operator to handle the ground logistics required by in-coming package tourists.
- c) Tour Operations: This is a larger form of a tour landing outfit. In this case, the operator is required to own buses, coaches, and must have own tour packages. It requires substantial investment in office accommodation, equipment, staff outlay, considerable experience in airline and tourist travel operation as well as a substantial insurance cover.
- d) Travel Agencies: This sector is almost choked with a mushroom of outfits but an enterprising new entrant can make it.
6. Tourism Financial Services
These services are in short supply and as the visitor traffic grows, there will be the need for more such services particularly:
- a) Credit Card Agents or Discount Houses to offer credit to pay bills at areas which do not accept credit cards.
- b) Foreign Exchange Bureau: Though these are many, there is room for more.
- c) Tourism Rental Services: There is a growing demand for the rental of catering, camping, picnic accessories as well as mobile telephone and toilets in Ghana, all in the service of travelers, event organizers etc.
7. Tourism Medical Services
There is growing demand for various types of health services for visitors notable among which are:
a) Tourism health insurance companies
b) Ambulance service for tourists including the concept of the flying doctor to service remote tourist sites.
8. Food and Beverage Services
The following will be required to meet the growing demand:
- a) Street Taverns, Cafes and Food Counters specializing in local snacks as well as foreign snacks.
b) Pubs: these are inadequate, such as the likes of Hard Rock Café in the US.
c) Night Clubs which offer table service with floor or live shows.
d) Fast Food Restaurants: these are becoming popular and as we receive more American tourists, the demand for the likes of KFC and McDonalds become apparent,
e) Specialty Restaurants: especially African and Ghanaian cuisine restaurants which serve dinner are inadequate.
Accra and all major cities as well as tourist centres literally go to bed at sundown for lack of nightlife activities. There is growing demand for international class:
o Night-clubs with live shows
o Amusement parks etc
10. Leisure & Sports
Though Ghana attracts large numbers of European, American, Asian and African tourists, they do not stay long because of lack of activity as Ghana’s tourist offer so far has been mainly sight-seeing featuring, festivals, monuments, game-viewing and nature walk. There is high demand from tourists for leisure and sporting activities to liven up their stay.
The following would greatly enhance tourists’ experiences:
a) World-class golf courses for international tournaments
b) Marinas on our Atlantic Coast, inland lakes and big rivers for sport fishing, yachting, sailing, surfing etc.
c) Theme Parks to relieve boredom.
d) Sports centres in cities offering a wide range of indoor/outdoor activities.
Surveys indicate that most visitors to Ghana return home with most of their pocket (spending) money because the country does not offer tempting shopping opportunities despite her wealth in products. The following are required:
o Souvenir shops
o Shopping arcades
o Shopping malls
o Duty-free shops.
12. Meeting Facilities
Multipurpose convention / conference / Exhibition Centres and Halls with shopping Arcade
Need for training centres, a greater use of e-learning channels and other more innovative and flexible ways of providing education and skills development in the Industry.
If you are interested, talk to:
Director, Research & Business Development
+233 302 665125
The water supply and sanitation infrastructure is insufficient, especially in rural areas. Major investments are needed to extend coverage as well as rehabilitate and maintain existing infrastructure.
Companies are invited to provide the following options for water supply and sanitation:
• Point Sources (boreholes/hand-dug wells)
• Small Towns Pipe Schemes
• Rain Harvest Plants
• Household/Institutional Latrines
In addition, investments are needed for construction of physical facilities to achieve:
• network expansion to poor areas
• increased reliability of water supply to poor areas to reduce reliance on water vendors
Also, companies are needed to provide water tanker services to consumers.
Companies are needed to provide the following:
• Street lighting
• Improved coverage/access
• Service efficiency
• Companies to supply energy-monitoring equipment to better meet the increased requests for power monitoring and tariff analysis from industry in the country.
• Companies to provide an alternative decentralized sustainable energy system that can easily be deployed in remote and deprived communities into the overall national energy mix.
• Companies to provide solar vaccine refrigerators for the preservation of vaccines for child immunization programmes in remote and off-grid parts of the country.
• Provision of solar energy systems to schools in off-grid communities.
• New, higher quality and cost competitive energy services to the poor, for cooking, transport, water heating and other home appliances.
Some Audit Firms registered with ICA
Some Members of the Ghana Institution of Engineers