﻿Accra, Ghana Ghana's wealth of resources, democratic
political system and dynamic economy, makes it undoubtedly one of Africa's leading lights.
Gaining the world's confidence with a peaceful political transition and a grounded and firm
commitment to democracy has helped in expediting Ghana's growth in foreign direct investment
(FDI) in recent years.Ghana has attracted the attention of well-known international businesses,
investing in all sectors of our economy. All these investors have come to Ghana because of
their wonderful conducive social, political and economic environment in which they can invest,
grow and be successful. Building on significant natural resources, Ghana is committed to improving
its physical infrastructure. Moreover, Ghana has recently embarked on an ambitious but achievable
reform programme to improve the investment climate for both local and international investors.
These efforts have paid off tremendously with Ghana being recognised by the World Bank Doing
Business Report 2014 as the "Best Place for Doing Business in the ECOWAS Region".
Ghana has a solid tradition of investments in agriculture and agro-processing.
The financial services and telecommunications sectors are fast gaining ground, providing dynamic
and innovative services to the most diverse customers in the world. Further opportunities
exist in manufacturing, ICT, and Tourism. Mineral deposits including gold and diamond abound,
and with the discovery of oil, Ghana's famous black star has never shone brighter.
Accra, capital and largest city of Ghana, on the Gulf of Guinea (an arm of the Atlantic Ocean).
The city lies partly on a cliff, 25 to 40 feet (8 to 12 metres)
high, and spreads northward over the undulating Accra plains.
The area’s susceptibility to faulting is the cause of occasional earthquakes.bThe
name Accra is a corruption of the Akan word nkran. It refers to the black ants that abound
in the vicinity. It came to be applied to the inhabitants of this part of the Accra plains.
Accra is the administrative, economic, and educational centre of Ghana. The city contains the
head offices of all of the large banks and trading firms, the insurance agencies, the electricity
corporation, the general post office, the large open markets to which most of the food supply
comes, and the Accra Central Library. Accra has well-paved roads and a good municipal bus service.
A transportation hub, the city is also connected by rail to Kumasi, in the interior, and to the
port city of Tema, 17 miles (27 km) to the east, which has taken over Accra’s port function.
Accra is the site of Kotoka International Airport. The city’s chief manufactures are processed food,
lumber, and textiles. Equally, Accra provides multiple opportunities for investment beyond
mineral deposits that include gold and diamond, and the recent discovery of oil and gas paves
the way for the development of a robust oil and gas industry. The country has a huge tradition in
agriculture and agro-processing, and recently the financial services and telecommunications sectors
have fast been gaining ground, providing dynamic and innovative services to the most diverse
customers in the world. Further opportunities exist in manufacturing, ICT, and Tourism.
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With globalization the world has become more connected and has made it even easier
to invest almost anywhere and trust me Africa is not left out and investing in
this continent of opportunity is the best thing that could happen to any investor.
In the real estate sector, Africa presents great investment opportunity with a high
return on investment serving great as an additional revenue stream.
As a smart investor this is the time to go in and take advantage of the opportunities.
The significance of real estate in Africa is highlighted by the fact that over 70% of
the Chinese direct foreign investment sits across African cities. Other countries have
already started following suit and increasing their investments on the continent as well.
There is inward migration of labour into larger cities by people in search for better
opportunities and higher wages. This influx of movement of people moving into the cities
has put pressures on African governments to make provision for good quality and affordable housing.
The reality on the ground is that this rapid increase in demand for housing has not been
met as is far too large a burden to handle. This type of growth of African cities is matched with
a growing middle to upper class creating a demand for high-quality and safe housing.
This presents another crisis in these cities. As a whole, the continent has shown profound
signs of economic growth in the last decade and real estate is no exception.
Amongst the 54 countries in Africa, some cities have shown exceptional growth!
Accra has a population of over 4 million people and is ever growing. Ghana is one of the most
politically stable countries in Africa and has managed to maintain good relations with
its neighbours too attracting expatriates and foreign direct investment into the country.
Accra is experiencing a huge shortage of affordable housing and commercial units. These
pressures are ever growing within the real estate sector because foreign property ownership is not
only permitted, but is highly desired by the state. Thus, this is the perfect time to invest.
There are many high yielding investments in Accra that anyone can invest in. Especially
industries like real estate that are currently growing and show no signs of slowing down.
There are numerous investment opportunities in Accra that anyone can take advantage of.
Before we dive in to the various sectors to invest in in Accra here are some amazing reasons
why Accra not else where; Political Stability
Given that incidents such as civil wars, terrorist movements,
sustained electoral and post electoral violence is inimical to business activities,
Accra provides a high standard of peaceful environment for business since it remains one of
the most stable countries in Sub-Saharan Africa. Compared to other big African countries such as
South Africa, Nigeria, Kenya and the Ivory Coast where violent incidents have gained international
attention at various points in time in the last two decades, Ghana has sustained political
stability over the same period, allowing the country to make gains in socio-economic activities
such as business, healthcare and housing. Increasing Skilled Labor Force
With education always receiving the largest chunk of government’s annual budget, Ghana’s educational
institutions continue to expand in quantity and quality making the country attractive for tertiary
students across West Africa. This implies that businesses in Ghana are able to recruit from a
large pool of very bright students and graduates who go through Ghana’s educational system.
Competitive Business Atmosphere
Businesses usually flourish in an atmosphere where the expansions
of business activities create positive competition among old and new businesses.
Ghana, through the efforts of Ghana Investment Promotion Center (GIPC) and other agencies,
is characterized by accelerated growth in the number of private and public business
enterprises making the country one of the most competitive places for businesses
as well as a good investment destination for many foreign businesses in Africa.
Business-Friendly Environment
Given that the skilled labor force continues to increase rapidly in Ghana,
unemployment is still a major issue in the country.
Hence Ghanaian citizens really appreciate the importance of businesses. New business ventures
mostly receive very friendly reception. Recreational Opportunities
Ghana also boasts of several good relaxation spots for business owners and workers.
There are a good number of tourist destinations that provide different recreational experiences
across the 10 regions of the country. Furthermore, it is becoming easier to travel from Ghana to
other African countries. Hospitality
One of the most distinctive virtues for which most Ghanaians want to be remembered is hospitality.
Local people always try to create a positive impression on the mind of foreigners.
It follows that foreign businesses are able to capitalize on the hospitality of
Ghanaians in order to kick-start and to grow their businesses.
With all this being said I guess It will just be repeating myself if I said Accra's the best.
Here are great sectors to invest in in Ghana. Real Estate
The Real estate sector in Accra is booming. Never before in the history
of Ghana has the industry so flourished. This has led to major investments in prime
lands and the construction of world-class buildings to suit the needs of the people.
Foreigners in Ghana can own lands and property within this space very easily.
The time to invest in real estate is now. Industry
Ghana’s one district one factory initiative is still ongoing and as such,
is a vibrant sector to invest in. Ghana produces lots of raw material which is eventually exported
for processing and then imported again for the Ghanaian market. There is a gap in industry which
the government and individuals are investing in. Setting up a factory is a good investment
as there are government subsidies to encourage more of such investments.
Telecommunications
Ghana’s rapid digital growth is mainly hinged on the services of telecommunications companies
(TELCOS). Ghana has seen consistent growth in the digital space each year.
More and more people are getting connected to the internet through the proliferation of
smartphones and other devices that enable swift connection. Offices, households and even public
areas are all connected. The future is digital and the sooner you invest in it, the better.
Financial Sector
The finance sector in Ghana saw a drastic change when Mobile Money was introduced.
This included the marginalised and the unbanked and has sparked great interest in fintech and
other finance-related activities. Mobile money transactions in Ghana during the first half
of 2019 alone reached GHC 140 billion. Other traditional forms of payment like cheques are on
a decline but new innovations within the financial sector are proving to be profitable investments.
Services Services are the heartbeat
of any economy and that includes Ghana. The growth of the private and public sector is a show of the
need for services that are essential to meet the needs of the people. All sectors require services
in one way or the other in order to grow. The use of technology to render those services has
proved to be very useful. Websites like meqasa.com are providing a much-needed service for Ghanaian
real estate agents and home or land seekers. Invest in Accra now you won't regret it.I hope
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