Investment Environment

Overall ease of doing business:

World Bank Index on Ease of Doing Business in Ghana for the year of 2016 ranks Ghana to be the 114^th out of a total of 189 economies[1].

Market drivers:

1)      A sound macroeconomic environment

2)      Immediate access to all markets of the Economic Community of West African States (ECOWAS)

3)      100% foreign ownership is permitted

4)      On-going privatization in key economic sectors

5)      On-going infrastructure development

6)      Expanding stock market

7)      Competitive labor force

8)      Availability of skilled and trainable labor

9)      Quota-Free access to USA & European Union markets

10)   Export-free zones where goods traded with other countries are exempt from customs duties and laws

11)   Fast developing financial infrastructure

12)   High degree of personal safety[2]

Investment Procedure

The first step for an investor wishing to invest in Ghana is to register with the Registrar General’s Department. The department charges a fee of 0.5% of the company’s stated capital. The official processing time lies between 3-5 days, after which the company will receive the certificate of incorporation and certificate to commence business.

After incorporation, companies that are partly or fully owned by foreigners have to register with the GIPC (Ghana Investment Promotion Centre). Registration is completed after companies have met the minimum equity requirements depending on their structure.

The required equity can be brought into Ghana either in money or kind (goods, plant and machinery, vehicles or other tangible assets). Money can be brought in cash or transferred into the account of the incorporated company at a Ghanaian commercial bank. The bank must confirm the transfer to the Bank of Ghana, which subsequently informs the GIPC. Documents relating to equity in kind such as bill of lading, invoices and others which are confirmed by the Customs Division of GRA must be presented to GIPC[3].

[1] http://www.doingbusiness.org/data/exploreeconomies/ghana/

[2] Doing Business in Ghana, KPMG, July 2012, p.37.

[3] Ibid., p.37.