Q&A: Insight into Ghana’s investment landscape
Ghana’s capital Accra
Invest in Africa (IIA) earlier this week conducted an interview on Twitter with How we made it in Africa publisher Jaco Maritz about Ghana’s business environment.
IIA is a group of international companies (including Tullow Oil, EY, Lonrho and Ecobank) that promotes business in Africa.
Read the interview below.
@MadeItInAfrica Ghana has peacefully concluded its election disputes; is political stability Ghana’s key investment asset? #InvestInGhana
— Invest in Africa (@investin_africa) October 2, 2013
@investin_africa Stability is a +. Firms can work around issues such as lack of power, but can’t do much about pol. turmoil #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@investin_africa There was hardly any unrest following the court decision and this shows the strength of democracy in #Ghana #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@investin_africa Investors are also excited about the impact that the oil industry can have on Ghana’s economy. #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@investin_africa We did an interview with a property developer targeting oil company execs Read: http://t.co/b9GTkIBRiY #InvestinGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@investin_africa Local Ghanaian business people also confirm a growing middle class which is another factor drawing investors #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@MadeItInAfrica Now that the dispute has been settled, what should the governments step be to attract further investment? #InvestInGhana
— Invest in Africa (@investin_africa) October 2, 2013
@investin_africa The Gov. needs to stimulate local industry and manufacturing. Ghana still imports far too many goods #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@investin_africa The Gov. needs to ensure that locals benefit from oil. Education and training is key for capacity building #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@investin_africa Some say that because Ghana’s oil industry is so young, few locals have the relevant skills to participate #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@MadeItInAfrica From your recent visit to Ghana, what do you think are the main investment opportunities in the country? #InvestInGhana
— Invest in Africa (@investin_africa) October 2, 2013
@investin_africa The opportunity in Ghana (and rest of Africa/frontier mkts) lies in the gap between perception and reality #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@investin_africa Just because African cities don’t look like Europe doesn’t mean business isn’t thriving. #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@investin_africa I would say #Ghana has opportunities in healthcare, food manufacturing and in servicing the oil industry #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@investin_africa I visited a co that is the only local manufacturer of ketchup. Import substitution of food is an opportunity #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@investin_africa Some local firms struggle to compete with imports – need for homework before embracing ‘local manufacturing’ #InvestinGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@MadeItInAfrica Thanks. Final Question: What’s your main advice to any potential investors looking to do business in Ghana? #InvestInGhana
— Invest in Africa (@investin_africa) October 2, 2013
@investin_africa Expect competition. Along Accra’s Spintex Rd are facilities of many established MNOs L’Oreal/Nestle/Samsung #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@investin_africa Ghana is not a cheap country – at least from a South African perspective. Be prepared to spend money #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
@investin_africa In my experience it is relatively easy to get things done. Ghanaians are accommodating and easy to work with #InvestInGhana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013
Thanks @MadeItInAfrica for those valuable insights into Ghana as a business opportunity. The future certainly looks bright! #InvestInGhana
— Invest in Africa (@investin_africa) October 2, 2013
@investin_africa Thank you very much! All comments are personal opinion of @jaco_maritz (not @MadeItInAfrica). #investinghana
— HowWeMadeItInAfrica (@MadeItInAfrica) October 2, 2013