Information & communications technology
Oil & gas
Due to its location on the West African coast, Ghana’s agri-businesses have easy access to export markets. With its international airport in Accra, and two major ports in Tema and Takoradi, it is more cost-effective for agri-businesses to ship from Africa through Ghana.
If you are looking for a low tax business environment, Ghana’s agricultural sector offers many possibilities.Ghana Commercial Agriculture Project
- Offers public-private partnerships, for infrastructure projects in designated areas.
- Initiatives include the development of a land bank, and model lease agreements for investors seeking to acquire land in Ghana.
- Incentivises companies to set up production or processing enterprise in-country
- Participating agri-businesses get a five-year tax holiday at the startup phase, custom duty exemptions for relevant machinery, and location-based tax rebates.
With its rapidly growing internet penetration rate and digitalised economy, Ghana’s information & communications technology (ICT) sector is one of the most active parts of the economy.
Ghana has 15.7 million internet users as of January 2021 and more mobile phones than people. There were also 41.69 million mobile connections in Ghana in January 2021, equivalent to 135% of the total population in the country. As internet penetration continues to grow, so has social media. As of January 2021, there were eight million users in Ghana.
As demand for ICT services grows and Ghana’s economy becomes more digitalised, there are many opportunities for you to contribute your tech expertise and offer solutions.
Ghana is a big oil producing country in Africa. Since the discovery of a new oil field in 2007, Ghana’s oil industry has seen three offshore projects implemented and is expected to remain a key driver of growth in the domestic economy.Ghana’s ongoing oil and gas projects include:
- Sankofa Gye-Nyame field
- Tweneboa-Enyenra-Ntomme (TEN) field
- A West-East pipeline from Accra to Tema
- A second gas processing plant
- Expansions to boost production of Liquified Natural Gas (LNG)
- The Osagyefo Power Barge
- The Tema LNG project
- Development of the Atuabo sea port, slated to be Ghana’s third major port
These ongoing efforts present numerous investment and collaboration opportunities between Singapore and Ghana companies.
A land of rich culture and heritage, and with beautiful nature attractions, Ghana draws many tourists from around the world. Tourism investors can tap lucrative opportunities for infrastructure, retail and hospitality experiences.
Ghana is noted for its wildlife, coastal resort areas, and natural formations such as the Tagbo falls, which is the largest in Africa. Other attractions include the Bosumtwi meteorite crater, and Lake Volta, the largest man-made lake in the world. Ghana is dense with nature reserves and national parks, which are major tourist destinations.
The Pan-African Historical Festival (PANAFEST), held every two years to celebrate unity across Africa and emancipation ideals, is also a tourism draw. The event is celebrated in the historical cities of Elmina and Cape Coast in Ghana, and takes place over eight to nine days.
The Ghana Investment Promotion Centre (GIPC) identifies several bankable projects in tourism, including the establishment of a Tourism Hospitality Institute, and the establishment of tourist rest stops. The Marine Drive Tourism Investment Project, to be developed across 241 acres of land stretching from the Christiansborg Castle in Osu to the Kwame Nkrumah Mausoleum, provides lucrative opportunities to tourism investors.
GIPC surveys also note that many tourists to Ghana do not spend much. This is from the lack of shopping opportunities, despite the country’s wealth of products. Apply your retail experience and find good opportunities here, and you will find it easy to work with the predominantly English-speaking populace.
Financial services for tourists are also in short supply, and there is room for infrastructure that promotes acceptance of card payments. Take note of this if you run a fintech business, or an IT infrastructure business.
Learn about Ghana's business hubs
Accra is the capital of Ghana, and the largest city in the country. Most foreign businesses set up at least an office in Accra. The city affords immediate proximity to major banks and the government offices.