Ghana is not Europe and not the United States, just like France is not Holland and Germany is not Greece or Italy.
Doing Business in Ghana is different from doing business in a European country. Different doesn’t mean bad or better, different means just not the same. Besides the ”cultural” part of doing business there are also differences in registering a company, finishing a deal and responsibilities.
If you look at the way Ghanaians live and work, one could get the idea that Ghana is the most free country in the world, hardly any disturbances in day to day business live.
But, don’t be “tricked” by first appearances, the official part of doing business in Ghana is highly regulated and sophisticated with rules and regulation for every step of doing business in Ghana.
It is true, the Ghanaian government is struggling to maintain all the rules and regulations but that doesn’t mean you don’t have to follow them and comply with the law. Doing business in Ghana can be difficult because of the Ghanaian culture of being on time, or because of the Ghanaian politeness (saying yes to be polite whilst you mean no), or Ghana’s funeral culture, because of which you sometimes miss key workers for longer periods of time.
But let’s not forget, Ghana is a country full of opportunities, in production, agriculture, agro-processing, oil and gas, service industry, tourism and many other sectors. Taxes in Ghana, although Ghanaians complain about them, are relatively low and Ghana has agreements against double taxation with many European countries.
Ghana, as part of Ecowas, is about to sign the Economic Partnership Agreement (EPA). The EPA offers great export opportunities to the European Union to all Ghanaian exporters and will attract investors in different sectors of industry, because of duty free export of all Ghanaian produced products.
As an investment destination Africa was the only destination that grew worldwide (2%).
Ghana is the 4th Investment destination on the African continent, only coming after the larger South Africa, Nigeria and Kenia. Many European, Asian and American companies have their regional headquarters in Ghana because of its stability, peacefulness and regional position.
Business wise your instinct tells you that “you have to be in Nigeria, but people want to be in Ghana”.
The fact that Ghana with only 26 million inhabitants can pull investors from a 180 million Nigeria means that there is something worth investing for in Ghana.