Strategic investments in Ghana is boosting the country’s economy
The Republic of Ghana is a country with a population of around 27 million situated next to Côte d’Ivoire, Burkina Faso and Togo. It is the second largest economy in West Africa after Nigeria, and it obtained a status of middle income country in 2011. This is mostly due to the increase in oil and gas production. It has enjoyed rapid growth in the last few years, which is expected to continue into the next decades.
The Government of Ghana is committed to attracting foreign investment to boost its local economy and push economic growth. In 2013, the Ghana Investment Promotion Centre Act was established to encourage and promote projects in the country.
Advantages of investing in Ghana
One of the main advantages of investing in Ghana is its political stability. The country is one of the most stable countries in the region since its transition to a democratic system in 1991. It has enjoyed 6 multiparty elections and 2 peaceful power transitions in that period. This positive direction in peace and stability is hugely beneficial for foreign investors.
The second advantage is the language. Ghana’s official language is English, and its widely spoken throughout the country. With no language barrier, investors can make the most of the direct contact with the local population to increase business opportunities.
Another advantage to investing in Ghana are the current changes in the process for doing Business made by the government. Ghana is currently ranked at number 114 according to the Doing Business rank 2016 from the World Bank, the highest of all West African countries. Though its newly created Investment Promotion Centre, the Government aims to simplify the process of opening up a business and make regulations more transparent and accessible.
Want to setup a company or invest in Ghana? Contact us
With experience of more than 10 years working in the country, Healy Consultants is able to find the optimum corporate business structure for each situation, and assess clients through the process of incorporating entities in Ghana.
Ghana has endless possibilities for investors in sectors like agriculture and oil & gas; it is strategically positioned in the coast line of the Africa, making it an easy route for exports and imports of goods. To chat to our in-house experts and discover how you can explore opportunities in Ghana, please email us at email[at]healyconsultants[dot]com or call us at +65 6735 0120