Top Infrastructure business opportunities in Ghana Africa.
5TOP 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 theprogression race-looking out of the case to stay on top by exploiting somethingsignificant and upgrading the client experience. There are such places wherecompanies have a more prominent opportunity to prevail by utilizing a domainwith high fitness, a solid and maintainable asset base and alluring markets andthis is Africa. If you are still not clear about what I am trying to drivehome, then here it is. I am talking about the Gateway to Africa “GHANA” wherecompanies go to flourish.
The wealth of resources, the dynamic economy, and thedemocratic political system make Ghana one of the leading lights of the Africaneconomy. The peaceful political transition in the nation has earned the world’sconfidence and has expedited the growth of foreign direct investment in recentyears. The country has grabbed the attention of reputed internationalbusinesses.
Ghana is the Second Biggest Economy in West Africa and oneof the fastest growing economies in the world as per the World Bank’s Ease ofDoing Business Report, 2019. It is undoubtedly the preferred destination fordoing business in Africa. The nation has emerged as a major business hub forinvestors seeking a dynamic private sector, transparent regulations, and politicalstability, progressive and committed government-private sector participation aswell as a conducive business environment. The government here is committed toexecuting policies that reduce the general costs of doing business in thecountry.
Here are the top reasons to invest in Ghana.
A platform that gives opportunities
The Fintech industry is growing steadily in Ghana. The adultpopulation enjoys using electronic financial services. They are aware of howrisky it can get to manage cash in large amounts. Instead of using cash, theyprefer making mobile payments. There is tremendous potential for Fintechcompanies to improve online and mobile payment services.
Africa serves as the headquarters for various multi-nationalcompanies. The leading companies in Ghana are key players from differentsectors of the Ghanaian economy. This includes companies from sectors includingfood and beverages, agriculture and telecommunications. This has further pavedthe way for expansion opportunities in Africa.
A lot of investors are gaining confidence in Africa’scommodity exchange. The GCX was started with soy, corn, and rice. It has beenexpanding ever since. There is a lot of potential for trade in the market.There is stress on ethical practices in the region which further compelsinvestors to prioritize Ghana as their next destination.
A strong and Stable Democracy- Ghana has the most stablepolitical environment in the western African region. It has developedinstitutions and democratic systems for ensuring better governance. Thepolitical conditions are mature. In the era of political instabilities allaround the world, Ghana has something that the investors are badly looking for.
Growing Population and Urbanization- Manpower forGrowth-Don’t get associated with just anyone, and don’t underestimate anyoneeither. Try to exercise some patience, take time to put the strengths of yourpotential partners to the test after spotting them and before getting into anyform of agreement with them. Study the lifecycle of your deal or approval verywell, identify the influencers, gatekeepers, and decision-makers across thedeal lifecycle, then be sure to align yourself with them. A country like Kenyais a good example, approximately 50 families are running this country and you wouldrequire alignment with at least one family to make any significant headway inKenya.
Connectivity to the Outside world- Ghana enjoys the benefitsof being strategically located. The average flying hours needed to fly herefrom both America and Europe is around 8 hours. It provides greateraccessibility options. It is home to the largest ports in West Africa andmanages around 3.5 million TEUs. It also has a great network of trunk roads andhas a world-class airport.
Decreased Cost of Customer Borrowing- The government hasbeen cutting down borrowing in the domestic market to make way for newbusinesses. The interest rate on the Treasury bill has fallen significantlyfrom 22.5 percent to 18.6 percent. The falling costs have offered a respite tothe nation and have also opened up new avenues for businesses.
Presence of Competitive and Educated Labor force- There is agreat availability of educated and skilled labor in Ghana. The labor force canbe easily trained. The best thing is that the region has the highest literacyrate which makes the labor helpful and efficient. The average minimum wage inthis 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 entryinto the United Nations Security Council in 2019. It is slowly and steadilymoving towards progress. It has been successful in earning recognition has thenext major investor destination. The government is taking all the measures toensure a conducive trade environment. It is no wonder that the investors havesensed potential in the market in Ghana and are keen to invest.
https://www.einvestghana.com/2020/03/23/ghana-where-companies-go-to-flourish/
