Top Reasons Why You Should Invest In Ghana

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Ghana is a democratic republic that declared independence from the United Kingdom in 1957.

Ghana spans the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with the Ivory Coast in the west, Burkina Faso in the north, and Togo in the east.

Ghana covers an area of 238,535 kilometers square, spanning diverse geography and ecology that ranges from coastal savannahs to tropical rain forests. With over 31 million people, Ghana is the second-most populous country in West Africa, after Nigeria. The capital and largest city is Accra. Other major cities include Kumasi, Tamale, and Sekondi-Takoradi.

Here is a list of foreign investment opportunities in Ghana:

  • Agriculture
  • Financial services
  • Construction
  • Crude oil
  • Minning
  • Energy
  • Tourism
  • Education
  • E-hailing or E-commerce


Top Reasons Why You Should Invest In Ghana


Around 29 percent of Ghana's population is under the age of 15, while persons aged 15 to 64 make up 57.8 percent of the population.


Ghana's FDI stock reached 42 million dollars in 2020.

The top investing country in Ghana's economy in 2020 was Australia, China, the Netherlands, South Africa, and the UK.

Unlimited opportunities abound in Ghana's key sectors which include: Agriculture, Mining, crude oil, entertainment, education, e-hailing or e-commerce, financial services, energy, construction, and tourism.


Now, let's take an overview of Ghana as a country. Ghana is a democratic republic that declared independence from the United Kingdom in 1957.

Ghana spans the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with the Ivory Coast in the west, Burkina Faso in the north, and Togo in the east.

Ghana covers an area of 238,535 kilometers square, spanning diverse geography and ecology that ranges from coastal savannahs to tropical rain forests. With over 31 million people, Ghana is the second-most populous country in West Africa, after Nigeria. The capital and largest city are Accra. Other major cities include Kumasi, Tamale, and Sekondi-Takoradi.

Ghana is a multinational state, home to a variety of ethnic, linguistic, and religious groups. While the Akan are the largest ethnic group, they constitute only a plurality.

The vast majority of Ghanaians are Christians approximately 71.2 percent, with close to a fifth being Muslim and a tenth practicing traditional faiths or reporting no religion.

Ghana is a unitary constitutional democracy led by a president who is both head of state and head of government.

Since 1993, it has maintained one of the freest and most stable governments on the continent and performs relatively well in metrics of healthcare, economic growth, and human development.

Ghana consequently enjoys significant influence in West Africa and is highly integrated into international affairs, being a member of the Non-Aligned Movement, the African Union, the Economic Community of West African States, the Group of 24 (G24), and the Commonwealth of Nations.

Around 29 percent of the population is under the age of 15, while persons aged 15 to 64 make up 57.8 percent of the population.

The population distribution has 4.7 million in Ashanti, 2.3 million in Brong-Ahafo, 2.2 million in Central, 2.6 million in Eastern, 2.3 million in Western, and 4 million in the seat of government in Greater Accra geographically and legally part of Eastern then administered separately on 23 July 1982.

As of 2010, 4.1 million persons reside in the Northern territories with 2.4 million in Northern, 1 million in Upper East, and 0.7 million in Upper West. As of 2010, 2.1 million persons reside in Ewe territory, Volta.



Ghana As An Investment Destination


Having lived in Ghana for a while, I can confidently tell that it is an excellent place to contemplate starting a business in.

Ghana has had the kind of economic and political stability that many other African countries can only dream of over the past two decades. It has become accustomed to growth in numerous areas as a result of seven consecutive successful elections that have not only improved and developed the impact of national institutions but also considerably increased the confidence of local and foreign investors in the country's economy. Ghana is one of the greatest countries in Western Africa to do business in. Much has been done to ensure that the process of investing in Ghana's economy runs smoothly, with the government's goal of making the country a gateway to West Africa. Although there are quotas for a specific number of local workers to be employed in certain fields, government policies for foreign direct investment allow an investor to employ both domestic and foreign skilled and unskilled workers.

The following are some of the reasons why you should invest in Ghana:


Investing in Ghana is a wise decision because :

Ghana's political situation is stable.

Another compelling argument is to invest in Ghana. Before investing in any economy, it is critical to understand the political environment and the impact that politics has on the country's economic sector, especially as political instability becomes more widespread around the world.

It's also because political issues can have a significant impact on the ease with which local and foreign enterprises can enter the country, as well as how businesses are conducted. Ghana is a very politically stable economy, having been recognized as the most politically stable country in Western Africa, and proudly maintaining the fifth position in Africa overall.


Ghana is easy to get to.

One interesting fact about Ghana that you may not know is that it is located in the exact middle of the globe. If you're not sure what that implies, it simply indicates that Ghana is geographically closer to you than any other country. Ghana may be reached in roughly 8 hours by flying from any country in Europe or the Americas. This country is quite accessible and simple to go to. It boasts one of the best world-class airports in Western Africa, with thousands of flights arriving and departing each day.


Ghana has a lower cost of government borrowing.


When a country's government borrows for public expenditure or benefits on a regular basis, it can have a negative impact on the economy. Increased national debt without a viable plan to deal with it or repay it can cause the value of a country's currency to fall.


Ghana has a growing urbanized market.

There's no denying that Ghana's population is growing, but believe me when I say that this is a good thing. Ghana's population is growing at a rate of roughly two percent per year, providing a chance for your firm to invest. Are you curious as to why? Along with an increasing population, though, a movement from a rural to an urban lifestyle is occurring.


Ghana's labor force is well educated.

Another compelling argument to invest in Ghana. The availability of skilled labor might mean the difference between investing in a country and not investing in one. As a result, in case you didn't see it coming, Ghana is on the correct track. Ghana has a large supply of both educated and skilled labor, which works in their favor and yours.


Ghana has a healthy financial market.

Electronic financial services are used by roughly seventeen percent of Ghana's adult population, according to estimates. Ghanaians are known to carry actual currency about because it makes them feel more confident about their finances.

Note that When it comes to investments or business activities that require higher expertise, the laws allow for a hundred percent recruitment of expatriates. In Ghana, however, investors have 100 percent ownership of their investments; investment policies and regulations allow for 100 percent rightful ownership, allowing investors to control and manage their business activities without fear of government retaliation.

However, after extensive research, it has been discovered that they are also aware that this can be quite risky, particularly when carrying large sums of money in cash form. As a result, they are attempting to transition to mobile payments, and as a result, the fintech business in the country is enjoying significant growth.

If you work in financial technology, this is an excellent opportunity to expand and improve both mobile and online payments in Ghana. Your company may even pioneer new financial technologies, such as borrowing apps that allow users to borrow money with interest rates and then return the money through the same app.


International participation

Ghana is a well-respected country on the international stage, in case you didn't know. It is a well-known country, best known for its rapidly growing and developing economy, which places it ahead of many other African countries. Ghana is also a member of the G20 world economic forum, which was established to bring together the world's most powerful political and business leaders to influence global, regional, and industrial priorities.

Foreign direct investment in Ghana

According to the United Nations Center For Trade And Development World Investment Report 2021, Ghana has recorded a 52 percent drop in FDI in 2020, leaving inflows at 1.9 billion dollars, from 3.9 billion dollars in 2019, following the health and economic crisis triggered by the Covid-19 pandemic.

The FDI stock reached 42 million dollars in 2020. Strict lockdown measures in the first half of the year contributed to the drop in investment, with the country among the first on the continent to impose restrictions on mobility.

The top investing country in Ghana's economy in 2020 was Australia, China, the Netherlands, South Africa, and the UK.

Almost half of FDI into Ghana was in manufacturing, while the services and mining sectors accounted for 25 and 16 percent of foreign investment respectively.

The country hosts annual summits tagged Ghana Investment Summit to position itself as a hub in West Africa for foreign investors.

The authorities in Ghana have been pursuing efforts to simplify the complex and lengthy procedures while also offering tax incentives.

Additionally, Ghana is one of the most democratic countries in Africa, and it counts a large and inexpensive labor force, a substantial agricultural base, numerous natural resources, and stable institutions.

It is also one of the more open economies to foreign equity ownership in the region. However, the burdensome bureaucracy, weak productivity, costly and difficulty to obtain financing services, under-developed transport infrastructure, ambiguous property laws, frequent power, and water cuts, and an unskilled labor force are the main factors that hinder FDI.

In the World Bank's 2020 Doing Business Report, Ghana ranked 118th worldwide for the ease of doing business, losing four positions compared to the previous year.

In 2019, the government announced it would implement ten major reforms to secure more foreign investments. The measures include dematerializing tax, legal, and business registration processes. Also, issuing construction permits, operating permits, and identification numbers will be automated and digitalized.

In addition to these reforms, a scheme to boost the performance of the power sector was initiated. In recent years, the country has poured substantial amounts into its oil and gas operations, but also in agriculture and industries. Economic diversification, abundant labor, and the government’s efforts to simplify investment procedures are all positive assets for the country.

However, some challenges impairing investments remain. Some of these include cumbersome administrative processes, corruption, weak productivity, and unskilled labor. Other major issues include insufficient water and power supply.

Access to electricity, the resolution of insolvency problems, and the protection of investors are points on which the country has a large margin of progress.


There are numerous reasons for this, but I'd like to highlight a few benefits of foreign direct investment in Ghana.
Following the health and economic crises precipitated by the Covid-19 outbreak, according to UNCTAD's World Investment Report 2021, Ghana saw a fifty-two percent decline in FDI in Two thousand and twenty, leaving inflows at one point nine billion dollars, down from three-point nine billion dollars in 2019. In 2020, the stock of FDI will be worth 42 million dollars. In the first half of the year, tight lockdown measures contributed to a reduction in investment, with the government becoming one of the first on the continent to apply mobility restrictions.
The freedom of establishment is a key benefit of foreign investment in Ghana. Foreign investors are treated the same as domestic investors, and the Constitution protects private investment against expropriation. Capital, profits, and dividends can be transferred freely, and Ghana is a signatory to the World Bank's Multilateral Investment Guarantee Agency Convention. Petty trading, the operation of taxi and car rental services with fleets of fewer than twenty-five vehicles, lotteries (except football pools), the operation of beauty salons and barber shops, the printing of recharge scratch cards for subscribers to telecommunications services, the production of exercise books and stationery, and the retail of finished phalanges are all prohibited for foreigners.


What to consider if you invest in Ghana

  • Ghana has a more developed infrastructure compared to most West African countries
  • In terms of political stability, Ghana ranks 1st on the Global Peace Index in West Africa
  • The country boasts of one of the finest skilled and trainable labor in West Africa
  • Sizeable consumer base with an emerging middle class
  • Ghana is a hub for opportunities in other West African countries and access to other ECOWAS countries
  • 100 percent foreign ownership of a business is permitted
  • Ghana's stock market is expanding


Challenges of Investing In Ghana

Foreign investors, on the other hand, face some challenges in their quest to establish a business in Ghana. These obstacles can take the form of heavy bureaucracy, a high risk of corruption as Ghana ranks seventy-fifth out of one hundred and eighty on Transparency International's Corruption Perceptions Index 2020, inconsistency in electricity supply, an underdeveloped capital market, and challenges in emerging markets weighing on the local economy majorly the recent monetary policy change.

Exchange rate risk is quite a concern in Ghana.

Large changes in exchange rates might result in significant losses or profits. For international investors In the short term, exchange rate risk can be easily covered.

Investment opportunities in Ghana

Unlimited opportunities abound in Ghana's key sectors


Ghana imports over 450 million dollars worth of rice alone annually and substantial amounts of chicken, meat, and dairy products. Inadequate and inappropriate storage facilities are constraints to agricultural production. Opportunities abound for the storage side of agricultural businesses with solar storage facilities the new trend.

Financial services

Ghana's financial services industry is categorized into three main sectors which are: Banking and finance which include non-bank financial services and forex bureaus, insurance, and capital markets. The relatively underdeveloped financial services sector in neighboring countries is an opportunity for financial service firms in Ghana to supply needed services.



Ghana provides a wide range of possibilities for companies entering the market. Most non-emergency government contracts for road construction are open to both local and international companies. There are many smaller local companies that would also be seeking partnerships for financial assistance, equipment, and training.


Crude Oil

The discovered oil in 2007 in Ghana's Jubilee Field is worth 1.5 billion dollars to 2 billion dollars. A large number of foreign companies operating in Ghana require local partnerships in order to do business.


Electricity contributes 69 percent of the economy's contemporary energy use. The majority of electricity generation and distribution is controlled by the government.
However, the Ghanaian government has recently held talks with a number of companies about the development of power plants.
This is critical because the country is experiencing its worst power outage to date.

Ghana loses between 2 percent and 5 percent of its GDP each year as a result of poor and unpredictable electricity supply. As a result, there is a high need for investors in this industry.


Ghana is the second-largest gold producer in Africa and the 9th largest producer in the world. The mining sector has produced 4,313,190 ounces of gold, which is the highest ever in the country's history. It generated export revenues of more than $5.6 billion in 2011.


Ghana is endowed with interesting tourist attractions, ranging from the warm sandy beaches of the Atlantic coast to rich tropical forests and unique wildlife. Ghana is also known for its historical European-built forts and castles that played a major part in the transatlantic slave trade.

E-hailing or E-commerce

The payments system is in place, logistics are improving, and online providers are trusted. Lamudi,, and Jumia are all foreign-owned. Many retailers will adapt, often with far fewer physical locations.



Ghana has become the center of education for its neighbors, notably Nigeria. People are willing to spend on tutoring and support for their children is almost unlimited. As the middle class becomes wealthier, the increased ability to spend will drive market growth. Private universities are the places to invest.


Ghana lacks indoor multi-purpose arenas which could be used to stage music concerts and conferences. Investment in movie theaters has yielded 100 percent profits for companies like SilverBird. An investment into a modern state-of-the-art multipurpose arena will result in massive profits.




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Ghana has been recognized as the most politically stable country in Western Africa. Ghana's population is growing at a rate of roughly two percent per year. Corruption, under-developed transport infrastructure, and an unskilled labor force are some of the main hindrances to FDI.


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