54 AFRICAN COUNTRIES

Agriculture Sector :

The food and agricultural industry plays a major role in Ghana’s economy. In 2007 , the agricultural sector contributed 35% to gross domestic product and employed 55% of the total population . Establishment of manufacturing industries to add value to local agricultural and fishery products, especially cassava into industrial starch etc, cocoa beans into cocoa products, fruits into fruit juices, purees etc, rice into fragrant rice, flour etc.  The scope for export of these products to regional and international markets is quite significant.  Production of cassava and industrial starch is under the special Presidential Initiatives.

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. This profile focuses on maize, rice, cassava, yams and plantains.

Farming is done on a smallholder basis in Ghana, though some are large farms and plantations which produce rice and maize. There is also food processing on a semi-large scale like flour (made from cassava, rice and maize), dried cassava and gari, and value added products such as Cerelac prepared by Nestle.

FDI  Values in USD Million Inflow  1999 243.7 2000 165.9 2001 89.3 2002 58.9 2003 105.4 2004 139.3 2005 145 2006 636 2007 855.4 2008 2120.4

Sea Food Processing :

Ghana has a coastline of 550km and 8,520 square km of water surface area hence providing it an abundant marine life particularly tuna, aquaculture and inland fish species.  Many opportunities are present in harvesting and processing of tuna and various marine and aquaculture species as well as establishment of aquaculture fish farms. The seafood segment is quickly emerging as one of Ghana’s most important industries. The various portions of this industry – processing, transport, storage, and marketing are helpful in providing jobs, incomes and a steady food supply. This has led to the growth of cluster industries such as boat construction, boating supplies, and fishing equipment. Processed seafood exports need to be increased. Major opportunities exist in the harvesting and processing of tuna and various aquaculture species. In addition, local seafood enterprises are seeking ventures with foreign partners to upgrade current operations and increase output by introduction of modern vessels, advanced tracking, capture, processing and packaging equipment, accessories such as block/flake/crushed ice machines and increasing cold storage capacity.

Tourism Industry :

One of the fastest growing sectors in the economy of Ghana, tourism holds a lot of attractions for investors. Various opportunities present include provision of hotel accommodation in the 3 – 5 star range in Accra and the regional capitals conversion of the numerous forts and castles on the Atlantic Coast into inns, Beach, lake and river resort development (including water sport and game fishing), development of lodges and national parks, development of modern convention/event facilities for large social gatherings in main cities, provision of complete adventure/eco-tour packages for domestic and sub-regional markets and rest stops on key excursion routes.

Ghana’s tourism sector is probable to grow at an average rate of 4.1% per annum over the next two decade which will be majorly because of the country’s unique historical, cultural and natural attractions. Placed centrally at the Gulf of Guinea in West Africa, Ghana has a total land area of about 238,540 square km and a 540 km picturesque coastline. In addition to being home to many historical landmarks and natural attractions, Ghana also enjoys the unique status of most frequent initial point of entry for Westerners visiting Africa for the first time.

Reports and indicators show that the growth in the tourism sector underscores the need for accommodations and other facilities to service the growing number of visitors to Ghana. Ghana has less than 1,800 rooms in the 2-5 star categories - 224 five-star rooms, 514 four-star rooms, and 567 three-star rooms. Demand projections for 2- 5 star rooms are 4,480 (2000), 6,385 (2005) and 8,250 (2010). The National Tourism Development Plan is looking for progress in the visitor facilities in 8 designated tourism centers, 7 tourist gateways, 75 tourist stopovers and a network of excursion routes, all focusing on and linking the major attractions throughout the country.

Information Technology :

There lies opportunity in the establishment of centers of excellence for production of electrical and electronic products, manufacture and assembly of computer equipment, electronic commerce, Information network operation, medical transcription, legal databases, logistics management, insurance claim processing, back office operations etc.

The electric and electronic goods sector covers all items needed for the generation, transmission, distribution and utilization of electricity. The electrical system’s peak load in Ghana has been increasing at an average 10% annually over the past ten years. While this rate is considered quiet high, in absolute terms Ghana’s total load remains smaller than that of many small, industrialized countries. The demand of power is driven largely by the economic growth in the country, which is estimated to be around 4% annually. In addition it increased commercial and industrial activity, demand is also driven by construction of new homes and purchases of electrical appliances and consumer goods.

Mining Sector :

Gold Refinery and Value Added Products :

Ghana is already into production of over two million ounces of gold per annum. In spite of this level of production there is no refinery in the country and the bullion is exported for final refining. The feasibility studies confirm the viability of refining gold in Ghana. These kinds of facilities will serve other gold producing countries within the sub-region. The  project that opportunists with the technical know-how would wish to consider.

There are opportunities present for setting up of downstream production facilities to manufacture key inputs for the mining industry e.g. mill balls, drill bits, cyanide and activated carbon etc., commemorative coins, jewelery and electronic components. Many investors could take an advantage of the Industrial Free zone facility to produce such items for the international market.  

Activated Carbon :

The activated form of carbon is employed extensively in the cyanidation process for gold production. The raw material for the manufacturing of the commodity like coconut husk-is readily available locally. There is opportunity for the investors to consider the establishment of a facility to produce the commodity.

Decorative Stones :

Ghana is gifted with extensive deposit of granite of various types. These deposits can be exploited to produce high quality floor tiles. Various opportunities exist in this sector to produce various dimension stones for the country’s building industry.

For Further Reference

 National Customs

 Ghana Investment Promotion Centre

 Doing Business With Ghana (Source: The World Bank Group)