5 Investment Opportunities In Ghana and reasons to invest in Ghana


In the course of the most recent two decades, Ghana has delighted in progressively steady and developing popularity based administration. 7 successful elections have strengthened the effectiveness of key national institutions, enhanced investor confidence and anchored the economy in an environment for positive growth

Today, Ghana is not only the best place for doing business in West Africa, but the fastest growing economy in the world according to the World Bank’s Ease of Doing Business Report 2019.

Ghana has gradually and eventually developed into an established business ground for investors looking for a conducive business environment, committed and progressive government-private sector involvement, political stability, transparent regulations, and a dynamic private sector ready for partnerships.

The administration is focused on executing approaches that lessen the general expense of working together to advance financial specialist trust in the nation. Here are regions or divisions to put resources into Ghana.

1. Telecommunications

Earlier this year the mobile penetration rate in Ghana surpassed 100 percent. This does not necessarily mean that every Ghanaian has a mobile phone.

Accounting for multiple sim cards or ownership of multiple mobile phones, telecom insiders estimate that mobile phone ownership is just approaching 16 million. Opportunity for growing the voice market is hard to ignore. But tower managers and telecom investors alike will see the greatest growth in data services.

2. Financial Services

The Banking Act in 2007 laid the foundation for change in the financial services industry. Since its passage, financial services in Ghana have improved tremendously. A thriving economy and growing incomes usually underline the potential of the financial sector.

But Ghana has shown more promise than other countries in the region. Take Cameroon for example. It has a similar level of income, yet Ghana has more than double the number of ATMs per head of the adult population. Benin, also with a similar level of income, only has one-third of the banks per head of adult population compared to Ghana.

Services in the country have improved. The recent integration of banking ATMs among nine banks in the country, including Standard Chartered Bank, Zenith Bank and Ecobank, allows customers to use their bank cards at ATMs serviced by banks different than the card provider. Barclays created a buzz earlier this year with the announcement of deposit-taking ATMs in Ghana. The service will help to reduce the extremely long queues in banks. But these efforts are not enough.

3. Real Estate

The story of rising real estate prices in thriving oil & gas markets gets old. But the returns never stop coming. The office and commercial sectors are plagued by poor management and lack of capacity. Downtown Accra and neighboring suburbs are seeing a surge in construction as developers see a growing influx of cash from foreign investors. Improvements in consumer financing and mortgages in the banking sector will also add to the opportunity for residential and commercial real estate.

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Ghana is an industrial darling on the continent. It is more advanced than many other African countries. But it still nowhere near its full potential. Pipeline manufacturing for the oil & gas sector fails to meet the demand in timely fashion with quality. Sometimes you just want the basic things manufactured without hassle, says one industry insider, “but it is the small things that can slow up many projects.” Yet such lamenting should not deter foreign investors. Similar complaints have been thrown around about other industries. Every time a complaint surfaces, it encounters a group of anxious entrepreneurs waiting to solve it (a luxury of Ghana’s entrepreneurial makeup).

Imports of agro-chemicals and related agriculture products will slow over time as new companies work to manufacture agricultural inputs locally. Ghana has great potential as a car manufacturing country, possibly even electric cars. The growth potential of gas liquefaction continues to be the talk of the town as the queues at gas stations increase. Whatever the product, there is someone in Ghana at this moment discussing how to make it locally. The potential of the overall industrial sector in Ghana is unimaginable. But it can only be reached with more capital.


It is the catchall category, but Ghana is still in need of services across the board. The country requires management-level education facilities (i.e., nursing, finance, etc) to meet the growing need in the country’s private sector. Medical services fail to provide high-quality care, leaving foreigners and some locals to travel outside the country for specialized medical care. Information and communications technology (ICT) services are inadequate to meet the growing various needs of private sector businesses from SME to oil & gas.

A lack of investment in the above sectors has the potential to stymie Ghana’s economic growth. Great returns are available, especially if investors can connect investments to Ghana’s energy and mining boom.

Reasons to Invest in Ghana

1. Stable democratic climate

Ghana is ranked as the most stable political environment within the West African sub-region and fifth in Africa, Ghana has established democratic institutions and systems to ensure good governance and rule of law in the country – Africa Benchmark Country Report (ABCR, 2017). Best judicial system in the world measured by rule of law, World Justice Projects (WJP) Rule of Law Index 2017-2018. Ghana is also recognized in Africa as one of the most peaceful countries, Global Peace Index 2018

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2. Ease of doing business

Ghana is ranked the best place for doing business in West Africa according to the Ease of Doing Business Report 2019 (114th globally). Best destination in Sub-Saharan Africa (A.T Kearney Global Services Location Index (GSLI), 2017. The most competitive economy in the West African sub-region and #10 in Sub Saharan Africa, (World Economic Forum Global Competitiveness Index 2018)

3. Accessibility

Geographically closer than any other country to the center of the planet. An average of 8 hours of flying time to Europe and the Americas. World Population Review (WPR). Refurbished world-class airport within the West African sub-region serving numerous flights from within the continent, Europe and the rest of the world.

Home to one of West Africa’s largest ports (Tema which is currently being upgraded to handle 3.5 million TEUs) centrally located in West Africa. (Aecom Projects). A good network of trunk roads and financial services. Immediate access to the over 350m market of the Economic Community of West African States (ECOWAS)

4. Competitive and educated labor force

Availability of skilled and trainable labor. Ghana has one of the most competitive minimum wages in the West African sub-region at an annual average rate of $558. Ghana also has one of the highest literacy rates in the West African sub-region (World by Map 2018)

5. Growing population and middle class

The growing population of ~2% p.a. with increasing urbanization and growing middle class– composed of individuals with a daily income of at least $8.44 – exceeds 1m people, (KPMG)

6. Strong resource pool

Ghana is recognized as the second-largest cocoa producer in the world and Africa’s biggest gold miner after South Africa.

7. Other International Benchmarks

#6 overall in Africa – Mo Ibrahim Index of African Governance (IIAG 2018)
#5 in Africa for Human development
#6 for Safety and Rule of Law. Ghana is also the most resilient economy in West Africa, (African Attractiveness Index 2018)

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