Ghana is one of the most attractive locations in Africa to invest and do business in. To make the Ghanaian environment more business friendly, there are efforts to reduce the occupancy costs for commercial and industrial properties along with the general cost of doing business in the country.
THE IMPORTANCE TO INVESTORS OF the cost of doing business in Ghana is fully grasped by the Ghanaian government. Appropriate legislation and structural frameworks have been put in place to make the low cost of doing business in Ghana an incentive.
The Ghana Investment Advisory Council (GIAC), which was established with the help of the World Bank, helps shape government policy aimed at creating an enabling investment environment. The GIAC consists of multinational and local companies and institutional observers--International Monetary Fund (IMF), World Bank (WB), and United Nations Development Programme (UNDP).
There is a liberal investment environment in Ghana that offers a number of special benefits such as the security of foreign investor ownership of local companies; and participation in joint ventures with the minimum required equity of US$10,000, and companies wholly-owned by non-Ghanaians at $50,000.
The other factors that make Ghana a favourable place for investors in Africa and among developing countries in general, include the following:
Stable political environment
Ghana is politically stable and this is recognised all over the world with leaders such as US President Barack Obama and British Prime Minister David Cameron expressing appreciation for the political stability of the country. This is supported by the fact that there have been peaceful transitions of government from one political party to another.
The Ghanaian government has initiated a number of sound macroeconomic policies designed to accelerate the process of growth and transformation of the economy under competitive conditions. Management and access to foreign exchange in Ghana continues to get better.
Under the ongoing privatisation programme, 100% foreign ownership is permitted.
Access to the ECOWAS market
Ghana is easily accessible to the markets of all the member states of the Economic Community of West Africa (ECOWAS) with a population of about 250 million people.
Good physical infrastructure
Ghana possesses well developed seaports, airports and roads network capable of meeting the needs of business in the 21st century. There is an...