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. The country has developed into an established business destination for investors seeking a conducive business environment, committed and progressive government-private sector participation, political stability, transparent regulations and a dynamic private sector ready for partnerships. The government is committed to implementing policies that reduce the general cost of doing business to promote investor confidence in the country.
The industries to best invest in are :
Agriculture – Agriculture is an important contributor to Ghana’s export earnings, major source of inputs for the manufacturing sector, potential vehicle for creating employment and improving the GDP growth rate of the country from 4.8% to the desired 8%. Ghana cannot experience economic growth and structural trans-formation without the emergence of a productive agricultural sector.Ghana’s potential with respect to commercial agriculture and agro-processing are largely untapped, and we can actualize this potential through good policies, sustained public-private investment and strong public-private partnerships backed by transparent procedures and processes along the entire value chain.
Textiles – Ghana has a reputation for producing high quality, traditionally designed printed cloth. The widely celebrated Kente cloth of the Ashanti and Ewe people are hand-woven and brightly coloured with traditional symbols and design.African textiles have gained an international reputation for their patterns, but national branding had not been promoted heavily in the past. Promoting high quality, traditionally designed fabrics as “Made in Ghana” appeal to the niche USA markets that manufacturers are beginning to serve.
Food Processing – The food processing industry plays a major role in Ghana’s economy. Major food crops in Ghana generally consist of cereals and starchy foods. Cereals include maize, rice, millet, guinea corn and sorghum, while starchy crops include cassava, yam, cocoyam (taro) and plantain. Currently, food processing in Ghana is done by medium scale enterprises. Over the years, the Government of Ghana has implemented policies that add value to Ghana’s raw agricultural products (e.g. cocoa, cotton, oil palm, etc.). In recent times, intensive efforts have been made by government to process some of these products; for example, volume of cocoa beans processed locally has doubled in the last decade.
Health – The Health Sector in Ghana is organized at three main levels: national, regional and district. Health interventions are packaged for each level and are delivered at the respective clinics and hospitals. These relate to the minimum benefit package and accreditation status of each facility as provided for under National Health Insurance law.The health industry comprises all firms directly involved in the production and promotion of health care.
Mineral Processing – Ghana is endowed with substantial mineral resources and has a well-established mining sector, which has grown considerably in recent years to represent an important pillar of the Ghanaian economy.The general slowdown in the mining industry however resulted in medium and micro impacts in terms of loss of employment and other local socio-economic contributions, as operating mines and exploration companies restructured to cut cost in the face of falling gold price. The mining sector contributed GH¢1,285 million to Government revenue in 2015 as against GH¢1,193 million in year 2014.
Oil and Gas – Ghana is one of Africa’s new oil- and gas- producing nations. The country remains a small producer in the Gulf of Guinea with current output at 126 000 barrels of oil per day (bopd). There are four (4) major oil and gas fields in the country namely: the producing Jubilee field where FPSO Nkrumah (Floating Production, Storage and Offloading) is located, the sub-commercial producing Saltpond field, the Tweneboa-Enyenra-Ntomme (TEN) field and Sankofa-Gye-Nyame fields. The Twenneboa, Enyenra, and Ntomme (TEN) fields (with an estimated 240 MMbo and 396 Bcf of gas) started production in August 2016, and the Sankofa, Gye, and Nyame fields, hereafter Sankofa field (with an estimated 500 MMbo and 1.45 trillion cubic feet of gas) started production in May 2017. The contributions of the various fields to the current production levels of 126 000 bopd are:
Tourism – Ghana’s tourism sector has seen significant investments in the past few years with projects and programs designed to increase investments, improve on existing infrastructure and also to increase the number of tourists visits, both domestic and foreign. The sector has attracted over US 600 million in investments over the last 4 years and continues to be the number 5 highest foreign exchange earner for Ghana.In February 2019, CNN International listed Ghana as one of the 19 must-visit places for tourists for the year 2019.The Ministry of Tourism has developed a 4-year tourism development program. This program seeks to strengthen the tourism enabling environment, develop tourist sites and destinations as well as to provide support to tourism enterprises. When fully implemented, the program is expected to increase international arrivals by 300,000.
Reasons to invest in Ghana.
1.Stable democratic climate
2.Ease of doing business
4.Competitive and educated labour force
5.Growing population and middle class
6.Strong resource pool
7.Other International Benchmarks
Tax & Incentives
Tax Regime And Investment
Ghana offers competitive investment incentives to investors. Click here for a more comprehensive inventory of investment incentives in Ghana (PDF Version). Click here for inventory of incentives in Ghana (Excel Version).
The inventory includes information on the type of incentives offered, their eligibility criteria, the relevant laws and regulations, and links to further information. The Ghana Investment Promotion Centre (GIPC) is committed to showcasing Ghana as an influential leader for doing business in Africa. One of the ways GIPC is advancing transparency on its investment policy is through this publication of a comprehensive list of investment incentives made available to investors by the Government of Ghana. The list will be updated periodically to reflect the latest policies and data. By serving as a one-stop, centralized access point for information on incentives, the inventory aims to support GIPC’s efforts in attracting and growing investment in Ghana while creating jobs and supporting businesses.
The inventory includes information on the type of incentives offered, their eligibility criteria, the relevant laws and regulations, and links to further information. This inventory is an evolving document that we at GIPC are continuing to refine with your contribution. Please feel free to contact us at email@example.com relating to any investment incentives available in Ghana not captured in the table below or any changes you would like to suggest.
Tax Regime (Ghana Revenue Authority)
Ghana Investment Promotion Centre
Telelphone / Fax
Tel: +233 302 665125 /665126/ 665127/ 665128/665129
Tel: +233 244318254/ 244318252
Fax: +233 302 663801/ 663655