Top Business opportunities in Ghana West Africa

5 TOP REASONS WHY YOU SHOULD CONSIDER INVESTING IN GHANA

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EIG EDITORIAL

CHOOSE GHANA-THE BEST ENTRY POINT TO AFRICA

Your company can be a part of it if you are in the progression race-looking out of the case to stay on top by exploiting something significant and upgrading the client experience. There are such places where companies have a more prominent opportunity to prevail by utilizing a domain with high fitness, a solid and maintainable asset base and alluring markets and this is Africa. If you are still not clear about what I am trying to drive home, then here it is. I am talking about the Gateway to Africa “GHANA” where companies go to flourish.

The wealth of resources, the dynamic economy, and the democratic political system make Ghana one of the leading lights of the African economy. The peaceful political transition in the nation has earned the world’s confidence and has expedited the growth of foreign direct investment in recent years. The country has grabbed the attention of reputed international businesses.

Ghana is the Second Biggest Economy in West Africa and one of the fastest growing economies in the world as per the World Bank’s Ease of Doing Business Report, 2019. It is undoubtedly the preferred destination for doing business in Africa. The nation has emerged as a major business hub for investors seeking a dynamic private sector, transparent regulations, and political stability, progressive and committed government-private sector participation as well as a conducive business environment. The government here is committed to executing policies that reduce the general costs of doing business in the country.

Here are the top reasons to invest in Ghana.

A platform that gives opportunities

The Fintech industry is growing steadily in Ghana. The adult population enjoys using electronic financial services. They are aware of how risky it can get to manage cash in large amounts. Instead of using cash, they prefer making mobile payments. There is tremendous potential for Fintech companies to improve online and mobile payment services.

Africa serves as the headquarters for various multi-national companies. The leading companies in Ghana are key players from different sectors of the Ghanaian economy. This includes companies from sectors including food and beverages, agriculture and telecommunications. This has further paved the way for expansion opportunities in Africa.

A lot of investors are gaining confidence in Africa’s commodity exchange. The GCX was started with soy, corn, and rice. It has been expanding ever since. There is a lot of potential for trade in the market. There is stress on ethical practices in the region which further compels investors to prioritize Ghana as their next destination.

A strong and Stable Democracy- Ghana has the most stable political environment in the western African region. It has developed institutions and democratic systems for ensuring better governance. The political conditions are mature. In the era of political instabilities all around the world, Ghana has something that the investors are badly looking for.

Growing Population and Urbanization- Manpower for Growth-Don’t get associated with just anyone, and don’t underestimate anyone either. Try to exercise some patience, take time to put the strengths of your potential partners to the test after spotting them and before getting into any form of agreement with them. Study the lifecycle of your deal or approval very well, identify the influencers, gatekeepers, and decision-makers across the deal lifecycle, then be sure to align yourself with them. A country like Kenya is a good example, approximately 50 families are running this country and you would require alignment with at least one family to make any significant headway in Kenya.

Connectivity to the Outside world- Ghana enjoys the benefits of being strategically located. The average flying hours needed to fly here from both America and Europe is around 8 hours. It provides greater accessibility options. It is home to the largest ports in West Africa and manages around 3.5 million TEUs. It also has a great network of trunk roads and has a world-class airport.

Decreased Cost of Customer Borrowing- The government has been cutting down borrowing in the domestic market to make way for new businesses. The interest rate on the Treasury bill has fallen significantly from 22.5 percent to 18.6 percent. The falling costs have offered a respite to the nation and have also opened up new avenues for businesses.

Presence of Competitive and Educated Labor force- There is a great availability of educated and skilled labor in Ghana. The labor force can be easily trained. The best thing is that the region has the highest literacy rate which makes the labor helpful and efficient. The average minimum wage in this nation is around Ghc11.82.

In Summary

Ghana has managed to earn massive international recognition. The nation is a member of the G20 World Economic Forum. It secured an entry into the United Nations Security Council in 2019. It is slowly and steadily moving towards progress. It has been successful in earning recognition has the next major investor destination. The government is taking all the measures to ensure a conducive trade environment. It is no wonder that the investors have sensed potential in the market in Ghana and are keen to invest.

https://www.einvestghana.com/2020/03/23/ghana-where-companies-go-to-flourish/