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In co-operation with

n 2015

Produced by Top Reports and IC Publications

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TOPGUIDE l 2015

Contents Produced by Top Reports International Communications Agency Suite 8, 78 Montgomery Street Edinburgh, UK, EH7 5JA top@topreports.org www.topreports.org Contact in Ghana: +233 (0)24 910 5995 / +233 (0)302 774466 IC Publications 7 Coldbath Square London EC1R 4LQ Tel: +44 20 7841 3210 Fax: +44 20 7841 3211 icpubs@icpublications. com Publishers Silvia Salvetti Ollennu Omar Ben Yedder Project Coordinator Sian Alexandra Thomas Creative Director Karishma Mehta

Introduction 6 Welcome to Ghana: Africa’s shining star Investment Guide 8 A safe, secure option Sector Features 14 Energy: High demand in a growing economy 18 Oil and Gas: A wealth of opportunities 20 Financial Services: Powering progress 28 Real Estate: Building for the future

40 Infrastructure: Closing the gap 48 ICT: Robust and competitive 56 Minerals: Extractives in pole position 60 Health: Right choices for a healthy nation 64 Agriculture: Solid investment potential 66 Tourism: Open skies, open opportunities Useful Contacts 72 Agencies, Airlines, Embassies, Hospital and Hotels

Sub Editor Alan Rodney Production Manager Richard Briggs Editorial Coordinator S. Kwame Ofori Appiah Editorial Contributions The Ghana Investment Promotion Centre (GIPC) www.gipcghana.com World Bank - Ghana Office www.worldbank.org Printers Headley Brothers Ltd The Invicta Press Queens Road, Ashford Kent, TN24 8HH

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32 Real Estate No. 1 Oxford Street – A development by Wonda World Estates

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INTRODUCTION

Welcome to Ghana, Africa’s shining star

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reform operates directly under the Presidency, a mark of the weight that is attached to its duties. Government ministries have all been equipped with customer relations units and improvements in public sector remuneration have seen it attract the brightest and the best to its fold. A commitment to fighting crime, including measures such as increasing police visibility, has led to the reduction in all forms of crime, particularly in the last couple of years. In the 1980s, Ghana entered an International Monetary Fund programme to help stem the economic decline that had characterised the decade prior to it. This began a wave of liberalisation and a commitment to private sector investment that continues today. Under these reforms, government has sought to divest itself of participation in business, selling off some of its interests and encouraging the private sector to provide goods and services that it had previously attempted to. In addition, there have been great improvements in the regulatory frameworks that have fostered open competition and improved delivery of

Ghana is blessed with glorious natural beauty and an increasingly dynamic business environment

TOPGUIDE l 2015

hen in 2010, Ghana was declared a lower middle income country, it came as a testament to its political stability, economic and financial reforms and the wealth of natural and human resources that the nation is tapping to fuel its growth and development. Since 1992 when the nation returned to constitutional rule, it has held nine successful multi-party elections, three of which have entailed the peaceful and orderly transfer of power bet0ween its two main political parties. In addition to this, Ghana’s legal system is also undergoing reforms. The establishment of commercial, fast-track courts is aimed at enhancing the speedy resolution of commercial disputes to ensure that investors spend more time growing their businesses rather than in court seeking justice. The public sector has also undergone tremendous reforms, the intention of which is to make it more efficient, more proactive and more responsive to the needs to the private sector. A department of public sector

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Sub-Saharan Africa

Income category

Lower middle income

Population

25,904,598

GNI per capita (US$)

1,760

DB2015 rank

70

DB2014 rank

69*

Change in rank

-1

DB 2015 DTF

65.2

DB 2014 DTF

64.4

Change in DTF

0.8

Source: Doing Business 2015; Ghana Report

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TOPGUIDE l 2015

Region

IMAGES BY: THE GHANA TOURISM AUTHORITY. WWW.GHANA.TRAVEL. WWW.TOURINGGHANA.COM

Economic Overview

goods and services. The success of this strategy is particularly evident in telecommunications and financial services, sectors in which Ghana now leads Africa in competitiveness and innovation. The commencement of commercial oil exploration has also opened up another area of progress for the country. Beyond improved tax receipts, government is particularly concerned about improved job creation that the nascent industry can help deliver, both directly and indirectly. Of great interest is the potential for gas that is also being exploited. The gas infrastructure project is nearing completion and when in operation, is expected to power the next generation of thermal plants to power the country’s industries and homes, thereby further aiding growth. Government is also seeking to encourage the creation of a fully-fledged petrol-chemical industry in the Western Region where oil exploration and exploitation is concentrated. Lonhro PLC has won the contract to construct a port in the oil region. There is potential for further (inland) discoveries in the Volta Basin that is currently being pursued. A commitment to excellence in education has also produced a skilled workforce that is ready to complement businesses and industry. Ghana is a land of great opportunity. Direct shipping and air routes to Europe, America and other major destinations are complemented by good trading relations around the globe that ease both imports and exports. The Africa Growth and Opportunity Act, which Ghana is a beneficiary of, means that exports to America in several products are completely exempt from tax. The Economic Partnership Agreements with the European Union, to which Ghana has signalled its approval, will also open up tariff-free routes for exports to the EU. Major challenges however remain, especially in the state of its infrastructure. To deal with this, government has turned to Public-Private Partnerships. Well-honed legislation, modelled on global best practices has been put in place to encourage and support the participation of the private sector in the delivery of productive, profitable public infrastructure. Despite some fiscal challenges, Ghana’s economic prospects are universally acknowledged to be brilliant. A further IMF programme, agreed with the government in February, will see it receive nearly a billion dollars, while pursuing the rationalisation that is necessary to restore fiscal and budgetary balance. Ghana is poised to continue growing. The combined factors of political stability, economic opportunities and commitment to investment mean that while it is West Africa’s second largest economy, it may well be the best destination for investment on Africa’s western coast.

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INVESTMENT

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GHANA IS PART OF THE ECOWAS SUB-REGION AND AN IDE AL PORTAL TO ACCESS ITS MARKE T OF 250 MILLION PEOPLE

A sound, secure option

Ghana is one of the most attractive locations in Africa to invest and do business in. To make the Ghanaian environment more business friendly, there are efforts to reduce the occupancy costs for commercial and industrial properties along with the general cost of doing business in the country.

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he importance to investors of the cost of doing business in Ghana is fully grasped by the Ghanaian government. Appropriate legislation and structural frameworks have been put in place to make the low cost of doing business in Ghana an incentive. The Ghana Investment Advisory Council (GIAC), which was established with the help of the World Bank, helps shape government policy aimed at creating an enabling investment environment. The GIAC consists of multinational and local companies and institutional observers – International Monetary Fund (IMF), World Bank (WB), and United Nations Development Programme (UNDP).

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Stable political environment Ghana is politically stable and this is recognised all over the world with leaders such as US President Barack Obama and British Prime Minister David Cameron expressing appreciation for the political stability of the country. This is supported by the fact that there have been peaceful transitions of government from one political party to another. Macro-economic policies The Ghanaian government has initiated a number of sound macroeconomic policies designed to accelerate the process of growth and transformation of the economy under competitive conditions. Management and access to foreign exchange in Ghana continues to get better. Foreign ownership Under the ongoing privatisation programme, 100% foreign ownership is permitted. Access to the ECOWAS market Ghana is easily accessible to the markets of all the member states of the Economic Community of West Africa (ECOWAS) with a population of about 250 million people. Good physical infrastructure Ghana possesses well developed seaports, airports and roads network capable of meeting the needs of business in the 21st

Political stability and a well developed infrastructure combine to make Ghana an attractive investment destination

TOPGUIDE l 2015

Investing in Ghana

There is a liberal investment environment in Ghana that offers a number of special benefits such as the security of foreign investor ownership of local companies; and participation in joint ventures with the minimum required equity of US$10,000, and companies wholly-owned by non-Ghanaians at $50,000. The other factors that make Ghana a favourable place for investors in Africa and among developing countries in general, include the following:

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INVESTMENT

century. There is an effort to upgrade the rail network to make it easier to access the ports from the interior. Telecommunication facilities in Ghana are excellent with more private service providers offering telephone, internet and other telecommunication services. Basic utilities, such as water and electricity, are readily available and relatively inexpensive.

THERE IS ALSO A L ARGE HUMAN RESOURCE BASE OF BOTH SKILLED AND UNSKILLED L ABOUR THAT CAN BE SOURCED AT COMPE TITIVE R ATES

Excellent labour force The country has some of the best teachers, lecturers and researchers in the continent, who have excelled not only in Ghana but in the African continent and other parts of the world. There is also a large human resource base of both skilled and unskilled labour that can be sourced at competitive rates. The minimum wage in Ghana is six Ghana cedis (approximately $1.88) a day.

Research and development Ghana possesses well-established research institutions that support the education sector.

Access to international markets Ghana has easy access to the USA and EU markets. The flight time to almost all the EU countries is about six hours and to the USA about nine hours. Availability of sources of funds Ghana has a number of sources of funds with fast developing but competitive financial institutions that allow companies to raise long-term capital at competitive rates. These institutions include banks, insurance and venture capital companies, and the stock exchange (Ghana Stock Exchange). High safety standards There are high standards of health and safety legislation in the country. Warm and friendly people Ghana is internationally acclaimed for the hospitality it extends to investors and foreigners as a whole.

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High quality of life The quality of life in the country is high and progressing further.

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Availability of land Ghana has a wide expanse of land around the country that can be acquired with little difficulty through appropriate agencies and owners. Ready market in the educational sector There are a number of pupils and students ready to enter various levels of education, especially at the senior high school and tertiary level.

In addition, investment in Ghana is buoyed by the following: • An embedded commitment to the philosophy and practice of market liberalisation policies • Investor confidence in the country’s economy as evidenced by major successful investments in most sectors of the economy • Availability of a stock exchange and other emerging financial markets • Progressive institutional development as evidenced by the process of establishing export free zones and factory specific export processing zones for existing firms, as well as emerging bank and non-bank financial institutions • Ongoing donor and government support for infrastructure development electricity and water supplies, transport and communications • Quota-free access to US and EU markets • Strong private sector advocacy groups such as the Private Enterprise Foundation (PEF) and the Private Sector Advisory Group.

Investment incentives There is custom duty exemption for agricultural and industrial plant, machinery and equipment imported for investment purposes. Listed companies enjoy corporate tax of 25% and newly listed companies enjoy 25% corporate tax for the first three years. There are location incentives (tax rebate) for manufacturing industries located in the regional capitals.

Investment guarantees Ghana is a safe investment destination. Guarantees against expropriation of private

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INVESTMENT

investments provided under law are buttressed by the Ghanaian Constitution. Some investment guarantees are detailed below: Free transferability of capital, profits and dividends. Insurance against non-commercial risks – Ghana is a signatory to the World Bank’s Multilateral Investment Guarantee Agency (MIGA) Convention. Double Taxation Agreements (DTAs) – to rationalise tax obligations of investors in order to prevent double taxation. DTAs have been signed and ratified with France and the UK. DTAs have been signed with Germany and concluded with Belgium, Italy and Yugoslavia.

Potential sources of funding

TOPGUIDE l 2015

Viable companies and projects can attract finance both on the local and international financial markets. The main sources of funding are: • 26 commercial banks • 38 non-bank financial institutions • 127 rural banks • The Ghana Stock Exchange – note that in the last four years, many issues of shares on the GSE have been oversubscribed by as much as 300% which demonstrates the availability of funds for investment purposes • The Ghana Venture Capital Fund • International development finance institutions based in Ghana, such as the International Finance Corporation and the African Development Bank • A number of foreign financial institutions also provide off-shore financing directly to companies in Ghana.

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Labour market regulations Difficulty of hiring index Fixed-term contracts prohibited for permanent tasks?

No

Maximum length of a single fixed-term contract (months)

No limit

Maximum length of fixed-term contracts, including renewals (months)

No limit

Minimum wage applicable to the worker assumed in case study (US$/month)

64.97

Ratio of minimum wage to value added per worker

0.26

Rigidity of hours index 50-hour workweek allowed for 2 months a year in case of a seasonal increase in workload?

Yes

Maximum working days per week

5.0

Premium for night work (% of hourly pay)

0%

Premium for work on weekly rest day (% of hourly pay)

0%

Major restrictions on night work?

No

Major restrictions on weekly holiday?

No

Paid annual leave for a worker with 1 year of tenure (in working days)

15.0

Paid annual leave for a worker with 5 years of tenure (in working days)

15.0

Paid annual leave for a worker with 10 years of tenure (in working days)

15.0

Paid annual leave (average for workers with 1, 5 and 10 years of tenure, in working days)

15.0

Maximum length of probationary period (months)

6.0

Dismissal due to redundancy allowed by law?

Yes

Third-party notification if 1 worker is dismissed?

Yes

Third-party approval if 1 worker is dismissed?

Yes

Third-party notification if 9 workers are dismissed?

Yes

Third-party approval if 9 workers are dismissed?

Yes

For further information please contact:

Retraining or reassignment obligation before redundancy?

No

The Chief Executive Officer Ghana Investment Promotion Centre (Office of the President) Public Services Commission Building Ministries, Accra, Ghana

Priority rules for redundancies?

No

Priority rules for reemployment?

No

+233 302 665 125-9 info@gipcghana.com www.gipcghana.com

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Source: Doing Business 2015; Ghana Report

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16

20

12

15

8

10

4

5

0

0 1

2

3

4

5

6

7

Cost (% of Income per captia)

Time (days)

What it takes to start a business in Ghana Time Cost

8

Procedures (numbers)

Note: According to data collected by Doing Business, starting a business there requires 8.0 procedures, takes 14 days, costs 19.2% of income per capita and requires paid-in minimum capital of 2.8% of income per capita.

INDICATOR

Ghana

Time (days)

710

Filing and ser vice

15

Trial and judgment

365

Enforcement of judgment

330

Cost (% of claim)

23.0

Attorney cost (% of claim)

10

Cour t cost (% of claim)

3

Enforcement Cost (% of claim)

10

Procedures (number)

38

Number of procedures (without bonus points)

39

Specialised commercial cour ts

-1

Total number of procedures (including bonus points)

38

SubSaharan Africa average 650

45.1

39

STAGES TO E XPOR T

Time (days)

Cost (US$)

Customs clearance and inspections

4

150

Documents preparation

10

125

Inland transpor tation and handling

2

500

Por ts and terminal handling

3

100

TOTALS

19

875

STAGES TO IMPOR T

Time (days)

Cost (US$)

Customs clearance and inspections

5

450

Documents preparation

26

310

Inland transpor tation and handling

3

500

Por ts and terminal handling

7

100

TOTALS

41

1,360

Source: Doing Business 2015; Ghana Report

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TOPGUIDE l 2015

Trading across borders in Ghana

Enforcing legal contracts in Ghana

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ENERGY

High demand in a growing economy

TOPGUIDE l 2015

T 14

he energy sector in ghana contributes significantly to the economy. The sector can be classified into two main sub-sectors; Petroleum and Power. Ghana’s petroleum sector involves upstream and downstream activities. The upstream activities include the procurement and refining of crude oil and gas while the downstream activities include the distribution and marketing of petroleum products and premixing of petroleum products for industrial uses, including fishing. Distribution of petroleum products in Ghana is dominated by multinational oil marketing companies. Following the deregulation policy of the government, the oil marketing companies have increased in

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numbers to include several local Ghanaian companies. The products are retailed through gas stations which are either owned by the oil marketing companies (OMCs) or private individuals. There are over 20 oil marketing companies in Ghana. The private sector, including the OMCs and others, source and supply finished products through an open competitive tendering system. The power sub-sector involves the generation, transmission and distribution of electrical energy for industrial, commercial and domestic use in Ghana. The power system of Ghana is run by three utility companies: the Volta River Authority (VRA), Ghana Grid Company Limited (GRIDCo) and Electricity Company of Ghana (ECG). Electricity is the dominant modern

The oil marketing companies have increased in numbers to include several local Ghanaian enterprises

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energy form used in the industrial and service sectors, accounting for 69% of modern energy used in the two sectors of the national economy. The Ghana electricity supply industry is unbundled with separate jurisdictions and entities regarding activities of electricity generation, transmission and distribution.

Obtaining an electric connection in Ghana

The grid transmission network connecting the main production to consumption centres has been modelled and categorised into five zones under GRIDCo. Zone 1: Greater Accra Region and parts of Eastern, Central and Volta Regions Zone 2: Western Region and part of Central Region Zone 3: Ashanti Region and part of Eastern Region Zone 4: Brong Ahafo Region Zone 5: Northern part of the country with Northern, Upper West and Upper East Regions. The government’s energy policy is embodied in the Strategic National Energy Plan 2006-2020. The policy aims to develop a sound energy market that would provide sufficient, viable and efficient energy services for Ghana’s economic development through the formulation of a comprehensive plan that will identify the optimal path for the development, utilisation and efficient management of energy resources available to the country. The energy sector has been a vital component of Ghana’s industrial and socio-economic development. In this regard, the sector has been undergoing a number of developmental initiatives to improve overall operational efficiency and supply security. Ghana has relied mainly on hydro-power plants for electricity generation. A few thermal plants are used to regulate the peak load. However, recently the net demand for electrical power has been considerably greater than the supply.

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2000

60

1500

40

1000

20

500

1

2

3

4

Procedures (numbers)

Time

Cost

Source: Doing Business 2015; Ghana Report

POWER DISTRIBUTION T HR E E DI S T R IBU T ION C OMPA NIE S C UR R E N T LY OP E R AT ING

Electricity Company of Ghana (ECG) – serves customers in the southern Ghana En Clave Power – serves companies at the Tema free zone enclave Northern Electricity Distribution Company – serves the northern part of the country There are about 69 substations scattered around the country

INSTALLED POWER CAPACIT Y T O TA L IN S TA L L E D P O W E R C A PACI T Y

2414 MW

H Y DR O GE NE R AT ION

1180 MW (48.9%)

T HE R M A L GE NE R AT ION

1232 MW (51.0%)

R E NE WA BL E E NE R GY [ N AV R ONGO S OL A R P V P L A N T ]

2 MW (0.1%)

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GRIDCo (Transmission)

80

Cost (% of income per captia)

There are four voltage levels, in the power grid: 330kV, 225kV, 161 kV and 69kV. The total length of the grid’s transmission lines is 4315km – 330kV line (219km), 225kV line (73km), 161 kV line (3,888km) and 69kV line (132km).There are 53 substations and about 100 transformers in the transmission grid of Ghana. It is planned that Ghana’s 330kV grid will form the country’s backbone grid by 2020. The 161 kV voltage level will serve as the regional transmission voltage.

Time (days)

GRIDCo

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ENERGY

Solar

The northern regions and the northern parts of Brong Ahafo and Volta Regions receive very high radiation levels with monthly averages of between 4.0 and 6.5kWh/m2/ day. The average duration of sunshine varies from a minimum of 5.3 hours per day at Kumasi, which is in the cloudy semi-deciduous forest region, to 7.7 hours per day at Wa, which is in the dry savannah region.

Wind

Ghana has about 2,000 MW of raw potential for wind energy. It is currently reliably projected that over 300 MW installed capacity of wind farm could be established at the coastal part to generate over 500 GWh to supplement the nation’s energy supply.

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Agencies in the energy sector

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The National Interconnected Transmission System (NITS) for electricity is owned and operated by GRIDCo. GRIDCo is a stateowned company. The distribution of electricity is done by the Electricity Company of Ghana (ECG), a state-owned company, and the Northern Electricity Department (NED), a subsidiary of the Volta River Authority (VRA). The Energy Commission (EC) and the Public Utilities and Regulatory Commission (PURC) regulate the electricity supply industry. The Energy Commission, in addition to being responsible for technical regulations in the power sector, also advises the Minister for Energy on matters relating to energy planning and policy. PURC, on the other hand, is an independent regulatory agency responsible for the economic regulation of the power sector, with the mandate to approve rates for electricity sold by electricity distribution utilities. The Ministry of Energy is responsible for formulating, monitoring and evaluating policies, programmes and projects in the energy sector. It is also the institution charged with the implementation of the National Electrification Scheme (NES), which seeks to extend the reach of electricity to all communities in the long term. Investment opportunities As part of the strategies to achieve the objectives in the National Energy Strategic Plan, the Government through the Ministry of Energy is encouraging public-private sector partnership by securing private sector investment in partnership with the public

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PE TROLEUM RECEIP TS AND DISTRIBUTION FOR THE 4TH QUARTER, 2013 GR O S S R E CE IP T S F R OM GH A N A GR OUP L IF T

US$94.7bn

T O TA L GOG R E CE IP T S

US$103.3bn

O T HE R P E T R OL E UM R E CE IP T S

US$44.8bn

sector for re-capitalisation of the energy supply system. Investment opportunities therefore exist for the development of a viable local industry for the production of components and systems locally, to meet future spare-parts requirements of future investments thereby making savings and ensuring sustainability.

The Ministry of Energy is responsible for formulating, monitoring and evaluating policies, programmes and projects in the energy sector

Investment opportunities in the sector include: 1. Energy service companies to provide energy services in these areas: • Energy Management Strategies • Power Factor Correction • Electrical Load Management • Boiler Efficiency/Heat Recovery • Tariff Analysis • Refrigeration and Air Conditioning Systems • Compressed Air Systems • Kilns and Furnaces • Fuel Substitution 2. Energy manufacturing companies to

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GHANA’S HYDRO GENER ATION (MW ) H Y DR O P O W E R PLANTS

C A PACI T Y IN S TA L L E D

C A PACI T Y AVA IL A BL E

A KO S OMB O

1020

960

K P ONG

160

140

BUI

400

400

3.

4.

5. 6.

supply energy-monitoring equipment for industrial tariff analysis. Companies to provide alternative decentralised sustainable energy systems that can easily be deployed in remote and deprived communities into the overall national energy mix. Companies to provide solar vaccine refrigerators for the preservation of vaccines for child immunisation programmes in remote and off-grid parts of the country. Provision of solar energy systems to schools in off-grid communities. New, higher quality and cost competitive energy services to the poor, for cooking, transport, water heating and other home appliances.

Investment opportunities in the demand sector include: • Penetration of rural electrification with decentralised renewable energy • Penetration of solar energy in hotels,

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Koubi

68

Ntereso

64

Larka

95

Asuoso

25

Sodukrom

17

Kojokrom

30

Jumoro

20

Tanoso

56

Abatumesu

50

Hemeng

90

Awisam

50

Jambito

55

Juale

90

Daboya

40

Kulpawn

40

Pwalugu

50

GOVERNMENT IS ENCOUR AGING PUBLICPRIVATE SECTOR PARTNERSHIPS TO RE-CAPITALISE THE ENERGY SUPPLY

• • • •

• • • •

restaurants and institutional kitchens using solar water heaters Increased LPG penetration Improved efficiency cook-stove penetration Penetration of biogas for cooking in hotels, restaurants and institutional kitchens Increasing the penetration of modern energy into agriculture for increased agricultural production, to help achieve the nation’s food supply security objectives and boost agro-industry Substitution of diesel with bio-diesel in agricultural mechanisation Drying of exportable farm produce such as pepper with solar dryers Displacing the use of diesel for irrigation with grid electricity and mechanical wind pumps Large-scale commercial poultry farmers to meet at least 10% of their electricity needs from biogas, using droppings from the birds.

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POTENTIAL

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OIL AND GAS

A wealth of opportunities

I

TOPGUIDE l 2015

n June and September 2007, a consortium of companies comprising Kosmos Energy Ghana (Kosmos), Tullow Ghana Ltd (Tullow), Anardarko Petroleum Corporation, Sabre Oil and Gas Ltd and the EO Group, in conjunction with the Ghana National Petroleum Corporation (GNPC) (collectively the Ghana Group) announced discoveries of significant quantities of oil and gas in the offshore deepwater Tano/Cape Three Points basins located in the southernmost part of Ghana’s Atlantic waters. The Petroleum Law required that the discovered oil and gas resources in the two blocks be produced as one unit to reduce costs and optimise the recovery of oil and gas in the field. The two discovered fields were therefore unitised and designated as the Jubilee Field, after Ghana’s Jubilee Year celebration.

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Crude oil production Between January 2011 and December 2014, a total of 124,947,373 barrels were lifted from the Jubilee fields, yielding for the Jubilee Partners a gross sum of US$3.65bn. Despite the fall in the oil price, government has been assured that production and investment in the Jubilee fields, as well as the Tweneboa-Enyera-Ntomme (TEN) fields, will continue at the same pace. Tullow Ghana has started work on the construction of a second Floating, Production, Storage and Offloading vessel, expected to be completed in mid-2016. According to Minister of Finance estimates, daily average production in 2015 will be around 102,033 barrels.

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Oil and gas from the Jubilee Field is being lifted and utilised by the Ghanaian government to raise revenues and generate power

Gas Infrastructure and Production The Gas Infrastructure Project is expected to process 150 million standard cubic feet of raw gas each day from the Jubilee Field when completed. The three components of the Gas Infrastructure Project, comprising the offshore raw natural gas pipeline, onshore natural gas processing plant and the onshore processing of (lean) natural gas pipeline are at various levels of completion. The laying of the offshore pipeline has been completed. The “as-built” survey is complete except for the last 6km in shallow waters. The onshore pipeline is 90% complete. Work on the pipefitting and welding is 100% complete. Site filling and compacting at both Esiama and Takoradi regulating stations is 100% complete. A total of 102,607km of right of way (ROW) has been trenched and the pipeline backfilled. Gas processing plant When finally completed, the gas processing plant (GPP) at Atuabo will help to process Ghana’s gas from the Jubilee Field, and make gas available to Ghana’s next generation of thermal plants. This will lead to construction of more generation plants, enabling a switch from oil-fired plants to help reduce the cost of electricity. It will also promote the petrochemical industry by providing the much needed raw materials for the petrochemical industry. The upstream petroleum industry achieved significant successes in boosting the country’s credentials as an oil producer. In a move aimed at streamlining activities in the oil and gas sector, the government has handed its shareholding in the Ghana National Gas Company to the Ghana National Petroleum Company, ensuring that investment and finance will be readily available to the gas company and reducing costs and transaction time in the sector. The Tweneboa-Enyera-Ntomme (TEN) plan of development (PoD) has been approved, paving the way for the development of a second production field. Two new discoveries (Cob and PN-1) were made in 2013.

The market There are currently over 200 registered service providers in this sector. The services offered cover the broad range of oilfield ser-

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vices listed below and other general services such as accounting, auditing and legal.

Investment opportunities Due to the emerging nature of the industry, opportunities exist in virtually every area: Upstream petroleum sector: • Geophysical (site surveys, seismic data acquisition, processing and interpretation) • Basin modelling, geological studies, biostratigraphy sequence stratigraphy, sedimentology, geochemistry and geochemical studies, and geographical studies • Equipment supply and/or leasing of boats, barges, aircrafts, etc • Supply of casings for boreholes. Drilling products and services: • Land drilling rigs, swamp drilling rigs, petroleum engineering & consultancy services • Offshore drilling rigs (jack-ups, semisubmersible rigs, submersible rigs etc) • Offshore rig towing services, rig move/ positioning services • Drilling mud, chemicals & mud logging services • Drilling site preparation, well control & blow-out prevention • Under-water inspection, sand control, fish & fishing tools • Dry-dock facilities for offshore supply vessels, tugboats, & offshore rigs • Measurement while drilling (MWD) & Logging while drilling (LWD) services • Casing & high pressure pumping, tubing services, tools & cased-hole electrical logging • Directional drilling & survey as well as drilling & workover. Production support services: • Wireline services & pipeline laying/ inspection • Production chemical supplies & management • Engineering design, procurement/ construction of production facilities • Corrosion engineering & environmental engineering services

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• Blow-out central services & flow line construction • Oil expand terminal design and construction & crude oil lifting • Fire fighting system design and installation & 2/3 phase meter supplies • Supply & maintenance of safety equipment • Gas valve supplies & installation. Reservoir engineering: • Consultancy services, simulation economic analysis, complete field study. Downstream sector business opportunities (marketing, storage, distribution, transport, refining): Technical partnerships, field development, contractor financing, gas utilisation, refineries maintenance, pipeline/depots construction and maintenance, petroleum products haulage, petroleum products marketing, petrochemicals, gas development/ conversion, butanisation project, fertiliser plants, vehicle fuels, methanol/MTBE plants.

Gas sector opportunities In December 2008, the government finalised plans for the establishment of an onshore natural gas processing plant to process natural gas from the Jubilee Field. The first phase entails a 150mft3 gas processing plant, nearing completion, at Atuabo just over 50km east of Effasu and 100km west of Takoradi on a 8sq km land area. Opportunities in this sector include: • Production, transmission, distribution of natural gas – independent ownership • Natural gas liquids (NGLs) – these liquids have high market value and find application either in their raw state as solvents, feed stock (for production of various chemicals) and liquid fuel or fractionated into their components, viz.: LPG, gasoline etc • Natural gas-fired equipment; IPPs; industrial, commercial and residential markets • Domestic natural gas sales & distribution • Compressed natural gas (NG] as automotive fuel, gas liquids (NGL), gas to liquid conversion, methanol, etc, and ammonia/fertiliser plants.

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THE UPSTRE AM PE TROLEUM INDUSTRY ACHIE VED SIGNIFICANT SUCCESSES IN BOOSTING THE COUNTRY’S CREDENTIALS AS AN OIL PRODUCER

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FINANCIAL SERVICES

Powering an emerging economy

T

TOPGUIDE l 2015

he financial services industry is one of the consistent success stories of the country, attracting talent and investment both locally and internationally and posting robust growth year after year. The three main sectors, banking and finance (including Non-Bank Financial Services and Forex Bureaux); insurance; and financial market/ capital markets all have major players actively competing, giving credit to government policy to liberalise the sector while maintaining strong regulatory oversight. Government policy is contained in the Financial Sector Strategic Plan (FINSSP), approved in 2003, which aims at broadening and deepening the financial sector. Improved governance in the financial markets remains an important focus for the continued reform agenda. Through the implementation of the FINSSP the Government of Ghana intends to promote the evolution of a financial sector appropriate for the needs of a country moving towards middle-income status. The vision is one of a financial sector which is

The vision is one of a financial sector which is responsive to the needs of the 21st century

WE DELIVER INTEGRATED QUALITY TAILOR-MADE AND SUSTAINABLE SOLUTIONS TO FOREIGN BUSINESSES SEEKING TO ENTER GHANA AND WEST AFRICA Address: No.116 Yiyiwa Drive, Abelemkpe, P O Box KD816, Kanda, Accra, Ghana Tel: +233 246 612 702/+233 233 791 126 /+233 501 407 929 Email: info@genelec.com.gh Website: www.genelec.com.gh

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responsive to the needs of the 21st century, particularly given the prospect of greater international and regional competition and opportunity for Ghanaian financial market participants. The Banking Act 2004, amended to Banking Act 2007, established the International Financial Services Centre (IFSC). This is set to increase the competitiveness of the Ghanaian financial sector. Under the IFSC, Barclays Bank has been given the licence to operate the first offshore bank in the sub region. More than 37% of bank branches are located in Greater Accra. Following significant improvements in the financial system, there is no doubt that the sector is now in a better shape to play the effective role of harnessing financial resources for sustainable economic growth of the country.

The market Developments in the banking system as of January 2014 show a continuous surge in asset growth resulting mainly from credit expansion. Banks’ deposits and borrowings were used to fund the growth in assets. Total assets of the banking industry grew on an annual basis by 46.2% to GH¢7,807m as of January 2014, compared with 38.1% growth for the same period in 2013. As of January 2014 net loans and advances had reached GH¢3,868.7m, recording an annual growth of 59.2% compared with growth of 37.6% a year earlier. Banks’ investments reached GH¢1,363m in January 2014 recording a year-on-year

Genelec Support Services is a reputable multi-disciplined Ghanaian company certified to provide Upstream Services in the Petroleum Industry, both to international and local businesses seeking to enter Ghana and Sub-Saharan Africa. In today’s business world, the use of a Virtual Assistant is practicable thus reducing the cost and stress of setting up new administrative and logistics units. Genelec Support Services has competent, professional and experienced personnel well equipped to carry out excellent Protocol, Logistics and Hospitality Services ranging from visa and permit acquisitions, airport transfers, hotel accommodation and vehicle rental to exclusive office management.

GHANA’S FINANCIAL INSTITUTIONS OR G A NI S AT ION

NUMBE R

B ank s

28

Rur al and C ommunit y B ank s

128

Non-B ank F inancial In s titution s

44

Forex Bureaux

273

Insurance Companies

17

Re-insurance Companies

2

Insurance Brokers

35

GSE Listed Companies

35

GSE Licensed Stockbrokers

16

WHAT WE DO

◆◆ Engineering Services ◆◆ Oil and Gas Management ◆◆ Asset Management ◆◆ Project Management ◆◆ Supply Chain Management ◆◆ Procurement Services ◆◆ Monitoring and Evaluation Services ◆◆ Management Consulting ◆◆ Health, Safety and Environment Services ◆◆ Environmental and Social Impact Assessment Services ◆◆ Recruitment and Personnel Management Services ◆◆ Genelec Support Services

TOPGUIDE l 2015

WHO WE ARE

deceleration of 0.4% compared with 37.5% in the 12-month period to January 2013. The growth in banks’ foreign assets picked up in January 2014 reaching 54.7%. Credit-deposit ratios increased to 81.5% as of January 2014 from 73.4% in the same period in 2013. The operating institutions include both foreign and local major banks, rural and community banks (RCBs), savings and loans companies (SLCs) and other finance and leasing companies. The number of institutions existing in the various categories as at the end of April 2014 are as follows:

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FINANCIAL SERVICES

The Royal Bank: Ghana’s bank of choice What are The Royal Bank’s main business areas / who are your target clients?

TOPGUIDE l 2015

Q & A with Robert Bentil – MD of The Royal Bank

22 RoyalBank_TR2015.indd 22

The main business areas of the Bank include agro-processing, oil and gas, energy, mining, construction, telecommunications, hospitality and commerce. As a universal bank, we are authorised to provide banking services to the general public. We have also developed product specific offerings to our target market with the aim of meeting their unique financial needs. These targeted customers include high net worth clients, corporate businesses, small medium enterprises, individuals and employees. As a customer-centric bank, The Royal Bank has developed products and services to meet the needs of its target market. In the case of high net worth customers the bank has developed customised banking solutions such as private banking services. For corporate and small and medium enterprises, The Royal Bank offers products such as trade finance, term loans, overdrafts, investments, certificate discounting facilities, contract financing, advisory services and project financing services. In the case of customers who are interested in international trade and import & export, The Royal Bank has trade finance services such as pre-export financing, pre-shipment advance, negotiation of bills under export letters of credit, import bill financing, discounting of bills under collection and negotiation of export bills for collection and import letters of credit. The Bank also offers credit facilities for companies and businesses for the purpose of trade and commerce. Services available under these products include overdrafts, revolving loans, invoice discounting, distribution financing, term loans, local purchase order financing, bankers acceptance, bridge loans, warehouse financing, project financing, leasing, and guarantees. To also satisfy the banking needs of individuals and employees, the Bank, after extensive research, launched seven unique consumer products to meet the financial needs of its customers. Four of such products, themed Consumer Loans, are made up of The Royal Personal Loans, The Royal

Salary Overdraft, The Royal Scheme Loan and The Royal Consumer Asset Finance. The products have been designed and targeted at salaried customers who need loans to meet urgent financial commitments. The three other products, namely The Royal Akuafo Account, The Royal Ride Account and The Child Account were designed to meet specific needs of customers. The Royal Akuafo Account, for instance, was designed to encourage farmers to save to meet their future commitments. The Royal Ride Account provides an opportunity for individuals to own the car of their dreams now and pay later and The Royal Child Account is a savings product with an insurance package that helps parents and guardians to save towards the future of their children.

What makes The Royal Bank different? The Royal Bank is unique in all facets of its operations. However, below are a few reasons why we are exceptional: • We are a wholly owned Ghanaian bank whose main aim is to help create jobs and grow the economy of Ghana • We are committed to working with our customers, to bring business dreams to reality • As a dedicated business partner, we offer excellent banking services • We have an experienced and devoted management team with both local and international experience • The promoters of the Bank are experienced, astute businessmen who understand the banking challenges of business – we therefore have customers’ interests at heart • We provide quick and prompt responses to customers’ needs since decision-making is local.

What is your personal message to our readers? I would like to thank the readers of Top Guide for making time to read this interview. I also wish to encourage them to become our customers and recommend The Royal Bank to their business associates, friends and family as the preferred bank of choice in Ghana for all banking services.

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FINANCIAL SERVICES THE REL ATIVELY UNDERDE VELOPED FINANCIAL SERVICES SECTOR IN NEIGHBOURING COUNTRIES IS AN OPPORTUNIT Y FOR FINANCIAL SERVICES FIRMS IN GHANA

Investment opportunities There is a high demand for various financial services in Ghana, as evidenced by the consistent high growth of companies in the sector. The relatively underdeveloped financial services sector in neighbouring countries is an opportunity for financial services firms in Ghana to supply needed services in those countries. Furthermore, the establishment of off-shore banking services provides new opportunities for expanding and diversifying financial services exports.

Discovery of oil Ghana has struck oil in commercial quantities estimated at 3bn barrels while exploration is still in progress. Enormous opportunities therefore exist for the banking and financial sector to develop appropriate products to support the oil industry. Total expected oil revenues are estimated at $6m a day by GNPC, or $2.2bn each year. Oil revenues accruing to the state are estimated at $2.3m a day which would translate to $836.8m a year. Banking services that would be needed include financing for GNPC’s interest, transfers, letters of credit, the financing of rigs and supply vessels and importation of foreign flagged rigs. All equipment and facilities of the oil industry would have to be insured. The various downstream activities in the sector also require significant financing.

16:09

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TOPGUIDE l 2015

Credit reference bureaux Investment opportunities also exist for financial institutions to acquire licences for the operation of credit reference bureaux in the country. The Credit Report Act, which became law in June 2007, is supposed to provide a legal and regulatory framework for credit reporting in Ghana to banks. The availability of credit information is generally accepted to be crucial for the development and maintenance of an effective financial sector. Borrowers tend to have a natural incentive not to reveal negative information about themselves. The lack of a credit information system therefore increases the risks of lending, and causes financial institutions to provide less credit. A credit reporting system in Ghana would provide timely, accurate, and up-to-date information on the debt profile and repayment history of borrowers.

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DE VELOPMENTS IN GHANA’S OIL AND GAS SECTOR HAVE ENCOUR AGED THE ESTABLISHMENT OF STATE-OFTHE-ART TR AINING FACILITIES TO ENSURE LOCAL CONTENT

ACTIVA INTERNATIONAL INSURANCE: A GLOBAL APPROACH WITH A LOCAL PRESENCE! In a globalised world, international business managers are faced with the following challenges:

LEGAL

n

LINGUISTIC

n

MONETARY

n

CULTURAL

Activa, the 2014 Insurance Company of the year (Association of Ghana Industries) which is also rated in the A category by Messrs Global Credit Rating provides tailor-made insurance solutions to companies and individuals in close to 40 African countries bridging Legal, Linguistic, Monetary and Cultural boundaries through the Globus Network.

TOPGUIDE l 2015

OUR CUSTOMER VALUE PROPOSITION • We provide expert world class client service backed by the best international financial security such as Munich Re, Swiss Re & Lloyd’s, etc. • We are a core member of the Globus Network which is present in close to 40 countries and we offer our clients dedicated access to quality and reliable insurance services across Africa • We provide customized innovative client solutions based on benchmark insurance under-writing knowledge and specialised skills

26

OUR STRENGTHS • Extended geographical presence with pooled competencies and expertise across Africa • Excellent customer relations and prompt payment of legitimate claims

• Our service is delivered by modern, dynamic, knowledge-based and efficient management systems backed by state of the art information technology (IT) systems • We cross geographical and linguistic boundaries: We have representation in close to 40 African countries spanning English, French, Arabic and Portuguese speaking Africa • We bring world class expertise and service delivery to the door-steps of local blue-chip and SME businesses in Ghana

• Preferred Insurer of most of the multinational and blue chip companies in Ghana • Sound Reinsurance backing

Email: info@activa-ghana.com | Tel:+233 302 686 352

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General investment opportunities exist for the following range of companies: • Universal banks • Development banks • Insurance companies • Reinsurance companies • Mortgage finance institutions • Leasing companies • Venture capital companies • Hire purchase companies • Export finance companies • Investment banks • Mutual funds • Investment trusts • Savings and loans companies • Specialised finance houses

Why invest?

• •

TOPGUIDE l 2015

Ashesi University’s New Engineering Building

The industry’s competitive advantages include: • Availability of skilled professionals in the financial sector. • Improved academic and training institutions e.g. University of Ghana Business School, Ghana Institute of Management

and Public Administration (GIMPA), National Banking College, Chartered Institute of Bankers (Ghana), Institute of Chartered Accountants, Ghana Insurance College, Ashesi University College. The Ghana Stock Exchange also provides training. Increasing deployment of ICT infrastructure to enhance competitiveness and efficiency of operations in the hydrocarbons sector. A relatively well developed Legal and Regulatory Environment compared to neighbouring West African countries. The introduction of new financial instruments, e.g. asset-backed securities, dollar-denominated bonds and inflation-indexed bonds. Improved regulation and supervision of financial institutions, e.g. revamping of the National Insurance Commission, establishment of Securities and Exchange Commission. The introduction of off-shore banking has opened new channels in business and options in the sector.

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REAL ESTATE

s and

try

ol

middle a by gh

Two i have iations ate y. re l

TOPGUIDE l 2015

ne

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S

ignificant national economic developments recorded by Ghana in recent years have registered on the global economic radar, positively impacting Ghana’s property market. Many local and foreign entities are significantly increasing their demand for residential, commercial and industrial developments to facilitate their employees’ and business needs. Ghana’s property development industry is divided into three sectors: • Public sector real estate development • Emerging private sector real estate development • Private individuals The activities of these three groups are facilitated by the banks, while the primary mortgage market, although at an early stage of development, has demonstrated enormous growth potential. The property development industry consists of three main segments: residential, commercial, and industrial property In the main, the industry is dominated by residential and commercial developers. In the last 10 years the residential market, undoubtedly the most vibrant in the industry, has registered, at a minimum, an estimated 85,000 transactions each year. The commercial property segment, which includes office accommodation and retail space, is the second largest segment in the industry. Third is the industrial segment but it is considerably smaller in size. Recreational and civil/cultural

property developments are new areas that are gaining interest among the industry stakeholders. The property industry, especially the residential and commercial sectors, are dominated by private companies that control over 90% of Ghana’s real estate and property markets. The government participation in the property market is minimal compared to the private sector. The Tema Development Corporation (TDC), the State Housing Corporation (SHC) and the Social Security and National Insurance Trust (SSNIT) are the only public sector-controlled agencies involved in the property market. The Ghana Real Estate Developers Association (GREDA), an organisation of private real estate developers, has played an active role in property development in the country. It mainly services the upper income and expatriate demand for housing, especially in Accra and Tema. Regimanuel Gray, Parakuo Estates, NTHC Properties Ltd, ACP Estates Ltd and Manet Housing Co. Ltd account for about 75% of the GREDA group’s residential property development. In terms of the volume of property sales, the property development market in Ghana is currently in its infancy. However, the market is growing as the younger generation of Ghanaians realise that the capital gains made from property can represent a rapid path to personal wealth in periods of rapid inflation.

TOPGUIDE l 2015

Building to match future growth

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REAL ESTATE

Property innovation without limits...

TOPGUIDE l 2015

D

32

ream Realty is a Ghanaian based Real Estate Development Company with a long diversified and multi-disciplinary experience in property developments. A joint venture between the Beirut-based Jamil Ibrahim Establishment and the renowned Interplast Limited of Accra, Dream Realty is committed to bring an engineering vision into the reality of an ever-evolving world. Through planning, design, implementation and the hallmark of quality, every project is considered with the same scrupulous dedication to deliver highly qualified aesthetic construction standards. Dream Realty is committed to establishing and incorporating innovative ideas and solutions in the Real Estate development sector by introducing new business ventures and partnerships based on mutual trust, individual integrity and acute professionalism. It transcends the basic real estate development notion into a community and urban development specialist. The company is currently developing The Octagon in Accra Central, which upon completion will redefine the location. The project is a secure and optimal investment product that offers investors a unique investment product for optimum returns. The Octagon is a mixed-use project that will be the largest single development per square metreage in Ghana upon completion. Centrally located with easy access to all the major banks’ headquarters, main courts and five-star hotel brands, The Octagon boasts a unique address for businesses. The Octagon includes retail areas, serviced hotel apartments and office suites. The retail area covers 7,000sq. m on the ground and mezzanine floors, with an impressive 6.5-metre exposure on the main road, and is accessible from the car parks on the two floors. The office suites in The Octagon comprise a total of 36,000sq. m of prime Grade A office space with beautiful finishes and layouts to fit the needs of all clients. Office suites are in four blocks in The Octagon.

TopGuide2015.indb 32

THROUGH PL ANNING, DESIGN, IMPLEMENTATION AND THE HALLMARK OF QUALIT Y, E VERY PROJECT IS CONSIDERED WITH THE SAME SCRUPULOUS DEDICATION TO DELIVER HIGHLY QUALIFIED AESTHE TIC CONSTRUCTION STANDARDS... BASED ON MUTUAL TRUST, INDIVIDUAL INTEGRIT Y AND ACUTE PROFESSIONALISM

Blocks A and E are eight floors and Blocks B and D are 10 floors each. Blocks A and B share a common entrance hall, with four main high-speed lifts and one service lift. The same applies to Blocks D and E. Each office block is an independent unit with all the amenities that a business may require. Sizes range from 85sq. m per unit to entire floors of about 2,000sq. m. Block C, which represents the main façade of The Octagon, is a 200-unit fully serviced hotel apartment. Units available range from studios to three-bedroom units to cater for the different needs of different clients. Amenities available include a gym, spa, rooftop swimming pool, restaurant, two coffee shops and a 1,000sq. m business centre. With five-star service, a stay in the serviced hotel apartment in The Octagon is one clients will cherish forever. Office tenants and owners will be able to access the facilities of the serviced apartment through a 3,000sq. m garden on the first floor of The Octagon. With a total parking area of over 50,000sq. m in The Octagon, containing about 1,500 parking bays, a safe and adequate parking space is assured. Dream Realty is charting a fresh and unprecedented path in the West African real estate market and The Octagon is putting Accra on the business map of Africa. The opportunities provided by this innovative business and commercial centre are limitless and are destined to help achieve the country’s hopes for the future.

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TOPGUIDE l 2015

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REAL ESTATE BANNIE IS LOCATED IN ACCR A’S DESIR ABLE AIRPORT RESIDENTIAL ARE A

Developer profile

NEST

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N 34

est is focused on developing town houses in prime residential areas of Accra. The NEST team is made up of award winning architects, contractors, lawyers, project managers, property managers and interior designers that ensure clients are provided with functional, comfortable and stylish homes. The company has been in business for eight years and has a reputation for excellent craftsmanship, durable construction and a mix of natural and avant-garde finishing materials.

w w w.nestgh.com +23324 4 2 84119 / 024 684 174 6 info@nestgh.com

TopGuide2015.indb 34

ALEXANDER SIZE

18 Town Homes

USE

Residential

C OMP L E T ION

June 2017

L OC AT ION

West Ridge. Off Independence Avenue, Accra, Ghana Plush, leafy and arguably the most secure and well serviced residential area in Ghana. Within 500 metres of diplomatic residences, international organisations and five-star hotels.

P R OP E R T Y F E AT UR E S

Fully fitted homes with AC units, fitted kitchens, wardrobes, internet and cable TV connectivity, water storage, back-up generators etc. • Private gardens and car parking  • Communal swimming pool, gym and sports bar

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BANNIE

Clean, modern designs are a hallmark of NEST’s property developments

SIZE

8 Town Homes

USE

Residential

C OMP L E T ION

June 2015

L OC AT ION

51A Senchi Street. Airport residential area, Accra, Ghana. Well serviced location with foreign embassies and diplomatic residences. Within 500 metres of French and English schools, shopping centres, clinics and hospitals.

P R OP E R T Y F E AT UR E S

Fully fitted homes with AC units, fitted kitchens, wardrobes, internet and cable TV connectivity, water storage, back-up generators etc. Private lounge pools • Private gate access •

TOPGUIDE l 2015

ALE X ANDER, LOCATED AT WEST RIDGE (ACCR A), IS NEST’S ONGOING DE VELOPMENT

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REAL ESTATE

The market The residential market is the most active segment of the real estate sector, with an estimated value of transactions of $1.7bn. It has been estimated that demand for residential property in the Accra-Tema metropolis will amount to 150,000 units a year. Industry sources indicate that Ghana’s current residential property demand grows at over 200,000 units a year, with an accumulated shortfall of 750,000 housing units. Current production of residential properties averages only 70,000 units a year, implying a significant annual supply gap. Rents for commercial properties range from $16 to $69 per square metre a month.

Residential property rents range from $2,000 to $8,000 for bungalows in the upper-end market. Construction costs range from $300 to $1,200 a square metre for buildings. Various government attempts to solve the housing deficit on a wide scale have failed. One example was the government involving STX Construction of Korea to build over 200,000 units of houses across the country. The project basically came to a halt as a result of boardroom wrangling among the contractors. As a result of this, Ghana’s government has sought alternative options by initiating talks with Shelter Afrique to support the affordable housing schemes. Shelter Afrique is to invest about $100m in its initial plans.

Construction of residential properties currently runs at 70,000 units each year, but is not sufficient to meet growing demand

TOPGUIDE l 2015

COST ESTIMATES FOR HOUSING INFR ASTRUCTURE DE VELOPMENT (US$)

36

DE S CR IP T ION

R OA D S

E L E C T R ICI T Y

WAT E R

T O TA L

MINIM A L R OA D W OR KS , L O W VOLTAGE E L E C T R ICI T Y S UP P LY W OR KS

800

600

450

1,850

MINIM A L R OA D W OR KS W I T H DR A IN S , C ULV E R T S A ND C UR B S

820

1,280

340

2,440

F UL LY TA R R E D R OA D S W I T H DR A IN S , C ULV E R T S A ND C UR B S

2,220

1,350

400

3,970

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GHANA’S GOVERNMENT POLICY IS TO SUPPORT THE CONSTRUCTION OF AFFORDABLE HOUSING SCHEMES

Ghana has huge opportunities in property development and construction. Potential investors interested in the real estate sub-sector would be looking at the construction of residential houses, industrial and commercial properties as well as shopping centres. Residential accommodation, particularly hotels and hostels for tertiary institutions, are a significant part of this demand. Investment opportunities in the mainstream property development industry include the following: • The construction of residential housing (low-cost housing, high-rise quality apartments, retirement villages) • Industrial property (light industrial parks, warehousing facilities) • Commercial buildings (regional and local shopping centres/malls, office accommodation, storage etc). Estate management companies are another area of investment opportunities. These provide the following services: Maintenance services: • Refuse collection • Landscape maintenance • Road and drainage maintenance Rental services: Rental service agencies serve owners who

TopGuide2015.indb 37

wish to lease out their property. Other sectors associated with the real estate sector include plumbing, electrical installation and maintenance services and the provision of construction equipment and building materials. Residential property While the housing supply rate has increased since 1990, current estimates point to a notable production shortfall of new units, particularly in the capital Accra. There is a huge potential for residential housing sales to the ever-increasing number of middle-income earners who are eager to own houses, as well as among the large number of Ghanaians living abroad. Commercial property Several areas in the Accra-Tema corridor have been zoned as industrial sites, although these are yet to be sold or let. Development may be carried out by commercial developers or individual lessees. Other opportunities include construction and renovation/rehabilitation of properties for office leasing, shops, storage and other enterprises. Opportunities also abound for investors interested in Export Processing Enclave real estate development, to provide factory shells, office space and serviced plots to potential investors.

TOPGUIDE l 2015

Investment opportunities

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REAL ESTATE The availability of high quality, affordable construction materials drives Ghana’s real estate construction sector Hostel needs for tertiary students in and around the country’s public and private universities and polytechnics offer excellent opportunity to the foreign investor within the real estate sub-sector. Building materials Ghana offers substantial investment opportunities for the production and marketing of building materials and systems. The construction sector is open for the introduction of new and appropriate building materials and systems.

Why invest?

• A seven-year tax holiday for real estate companies that partner with government. • With advanced plans towards the establishment of a land bank to assist investors with land acquisition, coupled with the availability of quality construction materials, real estate investor have little difficulty in establishing operations in Ghana. • Current economic growth means opportunities in the sub-sector are excellent for prospective foreign investors.

60

1.2

50

1

40

0.8

30

0.6

20

0.4

10

0.2

38 TopGuide2015.indb 38

0

0 1

2

3

4

Cost (% of Income per captia)

Time (days)

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Registering a property in Ghana

Time Cost

5

Procedures (numbers) Source: Doing Business 2015; Ghana Report

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BAE builds on Ghana successes

B

appah Electricals Ltd (BAE) is an electrical engineering and contracting company that provides electrical services for building projects and also supplies and distributes quality, yet affordable, electrical products. BAE also undertakes electrical installations and maintenance services and has accreditation for the distribution of the following brands: • • • • • •

Schneider electric MK accessories and cable management Nexans Alcatel cables Furse earthing and lightning protection Thorn lighting Belotti automatic voltage regulators. Due to continuous expansion, the com-

HIGH QUALIT Y AND ON-TIME DELIVERY AT A COMPE TITIVE COST HAS BUILT LONGTERM REL ATIONSHIPS WITH CUSTOMERS, SUPPLIERS AND COLLE AGUES IN THE ELECTRICAL INDUSTRY

pany now has two main operational units – the Project Business Unit, providing electrical engineering and contracting services; and the Consumer Business and Retail Unit, supplying and distributing quality electrical products. With staff strength of approximately 200 employees including professionals of various disciplines, BAE has expanded its operations beyond the boundaries of Ghana to other African countries. The underpinning of BAE’s success has been its pursuit of high quality and on-time delivery at a competitive cost, as well as building long-term working relationships with its customers, suppliers, and colleagues in the electrical industry. This is driven by its commitment to honesty, quality, teamwork, respect, fairness and total client satisfaction.

ELECTRICAL CONTRACTING SERVICES OUR RANGE OF ELECTRICAL INSTALLATION SERVICES INCLUDE:

Head Office Tel: +233 302 770178 / 2770155 | Fax: +233 302 768376 | Email: sec@bappahelectricals.com No. 7 Patrice Lumumba Close, Airport Residential Area, Accra, Ghana Showroom Tel: +233 302 782787 Fax: +233 302 78278 Email: osu@bappahelectricals.com No. 23 Nyaniba Estate, Osu- Blorgodor Road, Osu Accra, Ghana www.bappahelectricals.com

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ELECTRICAL AND ELECTRONIC ENGINEERING SERVICES VOICE AND DATA INSTALLATIONS

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INFRASTRUCTURE

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A key sector in need of partnership

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G

hana is determined to close the infrastructure gap with government committing resources to various projects while exploring alternative funding options, such as private-public partnerships, to make this possible. Electricity; water and sanitation; telecommunications; and roads and transport are the main areas of concentration.

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Electricity sub-sector The electricity industry involves the generation, transmission and distribution of electrical energy for industrial, commercial and domestic use in Ghana. In Ghana electricity is run by three utility companies: the Volta River Authority (VRA), Electricity Company of Ghana (ECG) and Ghana Grid Company (GRIDCo).

Workers welding components for the Akosombo Hydroelectric Dam, which generates most of Ghana’s electricity

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Water and sanitation sector Ghana’s water sector is segmented into two parts, identified as the Urban Water and Community Water sectors. The Urban Water sector comprises about 87 cities and towns where the national water utility – Ghana Water Company Ltd (GWCL) – owns and manages water supply. The sector is under the dual authority of the Ministry of Water Resources, Works and Housing (MWRWH) and of the Ministry of

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IN GHANA ELECTRICIT Y IS RUN BY THREE UTILIT Y COMPANIES – THE VOLTA RIVER AUTHORIT Y, ELECTRICIT Y COMPANY OF GHANA, AND GHANA GRID COMPANY

Local Government (MLG). GWCL has contracted Aqua Vitens Rand of South Africa to operate its water system. The Community Water sector deals with over 16,000 rural communities and some 287 small towns. Management of water supply is the responsibility of District Assemblies with facilitation and oversight role by the Community Water and Sanitation Agency (CWSA). Municipal assemblies and districts are responsible for investment, operation and maintenance of water and sanitation infrastructure within the community water sector. The Environmental Sanitation department covers both liquid and solid waste management and disposal. The sanitation sector is varied, covering very different types of waste, such as organic as well as inorganic and hazardous waste. Depending on the type of waste, different methods as regards collection, treatment and disposal are used. The institutional framework places the overall responsibility of environmental sanitation with the MLG, as it is the central government agency in charge of local government affairs and the environment. The responsibility for implementation of environmental sanitation projects and programmes lies with the Metropolitan/Municipal and District Assemblies. In Ghana, part of the collection and disposal of waste water uses conventional sewer systems at Tema and some parts of Accra, Kumasi and Sekondi-Takoradi. A greater part of consumers use underground tanks. The waste is then transported by road tankers to treatment works or dumping sites. The transportation is done by the waste management department of the Metropolitan/Municipal/District Assemblies and private tanker operators. In Ghana, industrial wastewater is discharged after treatment, if meeting the national environmental standard, into the public drainage system. Wastewater is discharged from the breweries and such industries as the food processing, textile, mining, chemical and pharmaceutical industries. The main types of treatment facilities are oxidation or waste stabilisation ponds, aerated lagoons, trickling filter and activated

TOPGUIDE l 2015

The VRA’s primary function is to supply electrical energy and it is responsible for most of the generation of electricity in Ghana. The VRA supplies electricity in bulk to the Electricity Company of Ghana for distribution to consumers. However, the VRA also distributes power in its own right to Northern Ghana covering the Brong Ahafo, Northern, Upper East and Upper West Regions through its subsidiary – the Northern Electricity Department (NED) established in 1997. Ghana’s demand for electricity outstrips supply from the country’s two hydro-generation stations. The shortfall is met by the development of thermal power systems. A 330MW combined cycle thermal plant commissioned at Aboadze near Takoradi in 1999, followed by an additional 220MW simple cycle thermal plant at the same site. A 110MW steam plant is planned to bring the total installed thermal generation capacity to 660MW. The VRA and GRIDCo’s transmission system is made up of 36 substations and approximately 4,000km of transmission lines linked in a circuitous loop covering the entire country. The transmission system is also interconnected with the national electricity grids of Côte d’Ivoire, Togo and Burkina Faso. VRA sells power to about seven major bulk customers. The major sale, in foreign currency terms, is made to the Volta Aluminum Company’s (VALCO) smelter at Tema. The second major customer is the Electricity Company of Ghana, which is responsible for distribution of the bulk of local electricity consumption throughout the southern part of the country. Bulk sales are also made to smaller industrial and mining consumers. VRA also exports to Togo and Benin and interchanges power with Côte d’Ivoire. The Public Utilities Regulatory Commission (PURC) of Ghana is an independent body set up to regulate and oversee the provision of the highest quality of electricity and water services to consumers.

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INFRASTRUCTURE

sludge process treatment facilities. The wastewater treatment facilities are largely used for treating domestic wastewater.

TOPGUIDE l 2015

Telecommunications The telecommunications industry has experienced a transformation from a largely monopolised, state-owned model to a broadly competitive, private, and open market model. Ghana has been among the leading countries in Africa to promote these developments. Market segments include basic domestic voice telephone, international voice telephone, mobile telephone and data transmission.

42

Roads and transport The transport sector is made up mainly of road transport, maritime and water transport, civil aviation and rail. Road transport is the major carrier of Ghana’s land transport system, currently taking up about 98% of freight and 95% of passenger traffic. The road infrastructure sector is managed by the Ghana Highway Authority (GHA), Department of Feeder Roads (DFR) and the Department of Urban Roads (DUR), under the Ministry of Transport. The fundamental policy objective of the transport sector is to establish an efficient, modally complementary and integrated transport system. Many major international air carriers fly regularly to Kotoka International Airport (KIA) in Accra, the main entry point to Ghana by air. This is the result of Ghana’s open skies policy, which frees an air space regulator from the constraints on capacity, frequency, route, structure and other air operational restrictions. In effect, the policy allows the Ghana Civil Aviation Authority (GCAA) to operate with minimal restrictions from aviation authorities, except in cases of safety and standards and/or dominant position to distort market conditions. The port of Tema covers 166ha of water area enclosed by two breakwaters. There are two quays housing 12 multi-purpose berths. Quay 1 houses berth 6-12, while Quay 2 houses berths 1-5. These berths are operated as common-user, and handle a wide range of cargo including dry bulks, steel products, bagged cargo, newsprint, vehicles and containers. There is a terminal for handling crude and other liquid petroleum products. The oil berth can accommodate tankers of up to 244 metres with draughts up to 9.7 metres. The Takoradi port is smaller. It was commissioned in 1928, but underwent major rehabilitation in the 1990s. It is currently

TopGuide2015.indb 42

undergoing another massive refurbishment under the Ghana Gateway Project. Currently, it handles about 60% of Ghana’s total exports, which mainly includes manganese, bauxite, gold, timber and cocoa. A new centrally located ‘inland port’ is being constructed at Boankra near Kumasi in the heart of the country. This is expected to be an important staging post for goods in transit to and from the landlocked regions north of Ghana. This will be a multi-modal facility handling both road and rail traffic.

THE POLICY OBJECTIVE OF THE TR ANSPORT SECTOR IS TO ESTABLISH AN EFFICIENT, MODALLY COMPLIMENTARY INTEGR ATED SYSTEM

The market Electricity Electricity accounts for 9% of the total energy consumption in Ghana. Energy consumption of Ghana is estimated at 6.6 million TOE. Household electricity consumption is primarily for lighting and in some cases for cooking. The national access to grid electricity supply is about 43% of the population and consequently there is significant potential demand for electricity. Water Approximately 10.3 million people (51%) have access to improved water supplies in Ghana. For the 8.4 million residents in the country’s urban areas this increases to 61% with two thirds of these covered by GWCL’s networks. With GWCL’s unaccounted-for water (UFW) at about 50% of total output, the volume of water that is effectively sold (280,000m3/day) is less than half of the daily demand (763,300m3/day). The major consumers of water in Ghana are domestic and industrial users, irrigation and livestock. Domestic and industrial urban water supplies are usually based on surface water, collected behind small dams or diverted by weirs from rivers. At present, irrigation development does not play an important role in the overall water resources’ balance considerations. However, the potential for irrigation has been shown to be considerably larger than the present land area under irrigation. The main non-consumptive uses of water are hydropower generation, inland fisheries and water transportation. On the basis of surface water resources alone, water demand for 2020 has been projected at 5.13bn m3, which is 13% of the surface water resources. Likewise, the non-consumptive demand can be met from the surface water available. Rainwater harvesting has become popular

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TOPGUIDE l 2015

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43 43 TopGuide2015.indb 43

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INFRASTRUCTURE

and has great potential to increase water availability in certain areas. If properly conserved and distributed, the surface water resources of the country should be adequate to meet future demands Telecommunications Ghana’s telecommunications sector has registered one of the most significant growth rates in Africa. Governments’ proactive policy and regulatory interventions, combined with support from the World Bank Group and other development partners, has resulted in a competitive and vibrant industry. Currently, the country has two national fixed network operators, six mobile cellular networks and 29 internet data service providers. The rest are 57 VSAT data operators, 25 public/corporate data operators. There are also over 130 FM stations, 11 free to air and seven pay-per-views TV Stations, and 10 direct to home satellite services.

Roads and transport Public transport “Ensuring affordable, safe and an accessible

transportation system that recognises the needs of people” is one of government’s objectives for the transport sector. The promotion of mass transportation to realise this objective has seen the bulk of passengers on the road networks in public transport vehicles such as taxis, ‘trotros’ and buses. The Metro Mass Transport Company (MMT) was established in October 2003. There is the need to provide more buses and improve on the quality of service to attract more people to use the mass transport system as this will lead to lower congestion in the cities. The plan to introduce Bus Rapid Transit (BRT) in Accra and other cities is therefore in the right direction. The MMT bus system operates three types of routes. These are intra-city, intercity and long distance. Currently the most operated route is the intra-city, followed by the intercity and long distance. A total of 89 intra-city, 41 intercity and 23 long distance routes are operated by Metro Mass. The numbers are being increased.

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TOPGUIDE l 2015

www.thyssenkrupp-elevator-seame.com

Local distributor: ARG1 Africa Ltd, Private Mail Bag 76, KIA, C8/21 Off Tenbibian Street, Agbelenkpe, Accra, Ghana T: +233 (302) 776 961 M: + 233 (244) 28 44 22 www.argafrica.com

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44 TopGuide2015.indb 44

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THE NATIONAL ACCESS TO GRID ELECTRICIT Y SUPPLY IS ABOUT 43% OF THE POPUL ATION AND CONSEQUENTLY THERE IS SIGNIFICANT POTENTIAL DEMAND FOR ELECTRICIT Y

Vessel traffic The number of vessel calls in 2012 was 5,654. Between 2010 and 2012, Tema Port received between 68% and 72% of all vessel calls. Aviation sector From 2010 international air passenger traffic increased from 905,370 to 1,536,338 in 2012. The air passenger traffic increased every year throughout the period 2006 to 2012. In 2010, movements to and from Europe constituted about 54% of the total passenger throughput that was handled at the Kotoka International Airport (KIA). This was followed by the West African sub-region which contributed about 23%. Rail sector The rail industry in Ghana has a total track length of 1300km and operates a route length of 947km. The annual rail freight revenue increased from 2006 to 2009 but recorded a drop in 2010.

ECOWAS market

Container seaport traffic Container seaport traffic has been increasing steadily from 2001. Between 2010 and 2012 there was steady increase of total container seaport traffic (imports and exports) from 697,563 TEUs to 809,985 TEUs. Imported Containers (TEUs) also increased from 308,718 in 2010 to 517,298 in 2012. Container transport is expected to remain the preferred means of maritime cargo transport owing to its considerable advantages.

TopGuide2015.indb 45

Investment opportunities

The water supply and sanitation infrastructure is insufficient, especially in rural areas. Major investments are needed to extend coverage, rehabilitate and maintain existing infrastructure and provide Point Sources (boreholes/hand-dug wells), Small Towns’ Pipe Schemes, Rain Harvest Plants and Household/Institutional Latrines.

TOPGUIDE l 2015

Maritime transport There are two main seaports (or harbours) in Ghana namely Tema and Takoradi. Tema is the biggest port and major operations at this port are skewed towards import commodities such as heavy machinery, containerised cargo etc. Operations at the Takoradi port are skewed towards the export trade with emphasis on commodities such as cocoa, timber, manganese and bauxite. Port facilities and the domestic transportation networks serving them are critical elements in Ghana’s transportation system.

ECOWAS, with an overall population of over 250 million, offers considerable demand for water for consumption. In addition, a large proportion of the sub-region is facing increasing desertification challenges, which make the potential and future demand for water for consumption enormous. On the other hand, water demand has increased due to the growing population and higher standards of living, leading to more competition and conflicts between the consumers. In Benin, for example, the average quantity of 4.220 m3 of sweet water per person per year indicates the unsatisfactory access to safe drinking water. Experts agree that pressure on resources will be incomparably higher in 20 years’ times than it is today. This will also be true in Africa in general and West Africa in particular. The necessary and probable improvement of living conditions of the West African population, the progress towards the Millennium Development Goals, as well as agricultural growth and industrial development all imply a significant increase in water consumption.

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INFRASTRUCTURE

46

Investment is needed to provide electrical services in the construction of the physical facilities including street lighting, improved coverage/access and service efficiency, and manufacturing. Considerable investment opportunities abound in the telecommunications sector. The sector requires service providers to connect international voice calls to the local public network. Technological and other support related services such as the supply of quality telecoms equipment are also required. Major investment opportunities also exist for roads construction and maintenance, and transport services and vehicle sales. Identified as one of the government’s priority areas to be developed under its medium term plan, transport services offer exciting opportunities especially in: • Mass transportation – scheduled bus systems • Passenger rail transport, rail upgrades and on chosen corridors • Lake transportation systems • Air transport operators for domestic and sub-regional services • Development of regional airports • Upgrading of existing trunk roads under bot, boo, bat, blt etc. systems.

Why invest?

The infrastructure sector in Ghana has been subjected to structural reforms at various times. The different reforms have taken the form of restructuring, commercialisation, increased competition and privatisation. Over the years, the government has initiated

TopGuide2015.indb 46

The Millennium Development Goals, as well as agricultural growth and industrial development, all imply a significant increase in water consumption

policies to rationalise the water, sanitation and electricity sectors and to promote and improve the delivery of water and electricity services in terms of economy, efficiency, effectiveness and satisfaction. The long-term goals of the policies are generally directed at providing the entire country with potable water and electricity by the year 2020, with an emphasis on the payment of adequate tariffs by consumers to ensure full cost recovery and to provide adequate revenue for operations and maintenance and replacement of the systems. Private sector participation is a key element in the operations and management of urban water supply. The road and transport sector has a readily available and accessible market for prospective investors who want to invest in the sector. There are several automobile sales companies which sell different brand of cars and also provide after-sales services. Moreover, hundreds of spare-parts dealers support the industry all over the country. The government has introduced new tolling practices which have paved the way for Build, Operate and Transfer (BOT) systems and other forms of private sector participation. The roads and transport industry has available: • Adequate transport fuel and a number of automotive service centres • Raw materials for roads construction, including affordable gravel chipping, sand and laterite.

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TopR


A SUCCESSFUL PARTNERSHIP

Top Guide is a Special Business Publication distributed with African Business Magazine and in some of the major 5-star hotels across Africa. It is the first and only guide distributed in the top hotels’ rooms. It is able to reach investors and businessmen in their down time rather than during the clutter of the business day, providing exactly the information they are looking for. Thanks to its special distribution – combining a local and international audience – no other business guide is able to deliver the insights and coverage to bring the business leader closer to the local marketplace and its opportunities.

IC Publications 7 Coldbath Square London EC1R 4LQ icpubs@icpublications.com www.icpublications.com Tel: +44 20 7841 3210 Fax: +44 20 7841 3211

TopGuide2015.indb 47 TopReports and IC_Partnership.indd 1

Top Reports Suite 8, 78 Montgomery Street Edinburgh EH7 5JA top@topreports.org www.topreports.org Tel: +233 (0)24 910 5995 / +233 (0)302 774466

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ICT

Robust and growing

TOPGUIDE l 2015

G 48

hana’s Information and Communication Technology (ICT) sector has progressed strongly over the last decade. As one of the first countries to introduce widespread liberalisation in basic telecom services, in 1994, Ghana took an important step forward in embracing the potential of competitive markets to generate growth and innovation. The ICT industry comprises telecommunications operators, internet service providers, VSAT data operators, software manufacturers, broadcast institutions, ICT education providers, internet cafÊs, etc. Generally, the Ministry of Communications and the National Communications Authority (NCA) oversee activities in the sector. The infrastructural base of the sector includes licensed gateway operators, undersea cable connectivity, private licensed VSAT

TopGuide2015.indb 48

Ghana has been recognised as an attractive destination for Business Process Outsourcing, ranked the top destination in Sub-Saharan Africa

systems, fixed wired line networks, wireless mobile operators, public telephone systems, telecentres, dedicated transmission networks, public distribution networks (cable, TV, DSL, etc.), internet service providers, an internet backbone connectivity throughout the country, and public access points and broadcasting systems. As an initiative to support emerging technologies, the Ministry of Communications is also facilitating the establishment of Science and Technology Parks. Indeed, Ghana has been recognised as an attractive destination for Business Process Outsourcing (BPO) and was ranked the first destination of choice in Sub-Saharan Africa (ahead of Senegal and South Africa). In addition the A.T. Kearney Global Services Location Index (GSLI), 2011 named Ghana 27th out of 50 countries globally in its BPO international ratings.

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Authorised Operating National Fixed Network Operators

2

2

Na tional Mobile C ellular Oper a t or s

6

6

14

14

Internet Service Data Providers

169

24

VSAT Data Operators

132

73

Dir ec t t o Home ( D T H ) S a t ellit e S er v ic e s

FM STATIONS Public

31

31

Community

53

36

Campus Commercial

13

8

229

138

TV OPERATORS 21

14

Pay per view TV Operators

7

5

Broadband Wireless Access (BWA)

3

0

Free on air TV Operators

Government ICT policy and regulatory environment The government’s proactive policy and regulatory interventions, combined with support from the World Bank Group and other development partners, have resulted in a competitive and vibrant industry. Presently in place is the ICT for Accelerated Development (ICT4AD) policy, a long-term strategy for developing the ICT sector and expanding its role in the Ghanaian economy. Its mission is to transform Ghana into a middle-income, information rich, knowledge-based and technologically-driven economy and society. The ICT4AD vision for Ghana is “to improve the quality of life of the people of Ghana by significantly enriching their social, economic and cultural wellbeing through the rapid development and modernisation of the economy and society using information and commu-

TopGuide2015.indb 49

THE ICT INDUSTRY COMPRISES TELECOMMUNICATIONS OPER ATORS, INTERNE T SERVICE PROVIDERS, VSAT DATA OPER ATORS, SOF T WARE MANUFACTURERS, BROADCAST INSTITUTIONS, ICT EDUCATION PROVIDERS AND INTERNE T CAFÉS

nication technologies as the main engine for accelerated and sustainable economic and social development”. The Ministry of Communications (MOC) is responsible for developing policies in relation to the sector. Hence, the National Information Technology Agency (NITA), an arm of MOC, has been established to implement the ICT related policies. An allied agency, the National Communications Authority, is also responsible for licensing and regulating all businesses operating in the communications sub-sector. The National Communications Authority Act and the Electronic Communications and Transactions Act have all been passed in the spirit of strengthening the capacity of the regulator i.e. the National Communication Authority, since the existence of fair competition depends on the fairness of the regulator.

The market Operators and service providers These include FM stations, TV operators, internet service providers, telecom operators etc. The table above presents a summary of the operators and service providers in the sector. As at December 2013, the telecommunications sub-sector had two fixed line operators in addition to six mobile cellular operators authorised to operate. All of them were operating. Out of 169 internet services providers (ISPs) authorised, 24 were in operation. The sector also witnessed 132 VSAT data operators, 229 commercial FM stations (among others) and 21 free on air TV stations having authority to operate, with 73, 138 and 14 of them respectively actually being in operation.

TOPGUIDE l 2015

SUMMARY OF OPER ATORS AND SERVICE PROVIDERS

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ICT

Ghana currently has six registered mobile operators, all of which are functional. These are MTN, Vodafone Mobile, Tigo, Expresso, Glo Mobile Ghana and Airtel Mobile. Additionally, Vodafone and Airtel are the only two fixed-line operators. The market continues to grow aggressively in all segments, since the enabling environment provided by government continues to promote competition. Increased competition, a key driver of growth in the industry, is witnessed in terms of: • Rising sale of SIM cards and airtime • Better and increased coverage • Improved quality of service on most networks • Introduction of cheap phones increasing the ability of more people to own phones More aggressive marketing promotions etc.

TOPGUIDE l 2015

As at December 2013, total access lines in operation stood at 28,296,904 with 99.04% and 0.96% being due to mobile telephony and fixed-line telephony respectively. This compares with lower figures of 17,714,846 and 21,450,564 at the end of years 2010 and 2011 respectively. In December 2008, total access lines were 11,713,699 comprising mobile subscriptions of 11,570,455 and a relatively low fixed telephony of 143,244. The penetration rate increased consistently from 52.4% in December 2008 to 86% ending 2011. Mobile phone penetration increased steadily to reach a 107.2% mark as at the end of December, 2013. Fixed telephone penetration, on the other hand, has been relatively marginal over the years. Mobile penetration has increased over ten-fold over the period December 2008 to December 2013. With five mobile operators, penetration was 51.8% (in December 2008), represented by 11,570,455 subscribers. By December 2011, the rate surged to 84.9%. As at December 2013, the National Communications Authority (NCA) indicated that mobile penetration was 107.2% of the Ghanaian population (estimated at 25 million).

50

Market shares As at December 2013, MTN was the leading mobile phone company with 12,929,528 subscribers, representing 46% of the market. With 6,048,792 subscribers, Vodafone Ghana followed with 22% market share. Next was Tigo, capturing 14% market share with 4,021,225 subscribers. Airtel held the number four position with a subscriber base of 3,395,263, representing 12% of the

TopGuide2015.indb 50

market. New operators, Glo Mobile, took the fifth slot, controlling 5% of the market with a subscriber base of 1,498,011. 1% of the market is accounted for by Expresso, having 133,663 subscribers. With regards to fixed telecommunications, Vodafone is the dominant operator, controlling 94% of the market. Its subscriber base is 274,661. Airtel, on the other hand, has 10,320 fixed-line subscribers, representing 6% of the market. Mobile broadband According to the Measuring Information Society Report released in the last quarter of 2012 by the International Telecommunications Union, mobile broadband penetration rose from 6.9% in 2010 to 23% in 2011. The figure was 1.8% in 2008. Ghana is presently the country with the highest mobile broadband penetration in SubSaharan Africa. IT enabled services / BP0 Ghana is ranked the first destination of choice in Sub-Saharan Africa (ahead of Senegal and South Africa) and 27th globally out of 50 countries in the 2011 A.T. Kearney Global Services Location Index (GSLI). The country was earlier ranked the first destination in Sub-Saharan Africa (ahead of Mauritius and Senegal] and 15th globally out of 50 countries by the 2009 A.T Kearney Global Services Location Index. Government remains interested in making Ghana a competitive destination for Business Process Outsourcing (BPO), leveraging its population’s English-speaking skills and its advantageous geographical location in the same time zone as Europe. Having identified BPO services as a focus area for development with much emphasis being placed on it as an economic driver, government established the IT Enabled Services Secretariat (CITES), an implementing arm of the Ministry of Communication, that has been tasked to promote and develop the sub-sector to become a major source of income, and to generate employment opportunities. The preference for Ghana in connection with this industry is supported by its large pool of skilled English-speaking labour, GMT time zone location, and competitive labour costs etc. Currently, the IT Enabled Services sector provides approximately 3,000 jobs and Ghana’s potential to become a significant player in this industry is recognised as enormous.

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THE IT-ENABLED SERVICES SECTOR PROVIDES APPROXIMATELY 3,000 JOBS AND GHANA’S POTENTIAL TO BECOME A SIGNIFICANT PL AYER IN THIS INDUSTRY IS ENORMOUS

Half a dozen mobile phone operators compete for the cellphone market, creating an ultra competitive market

SUBSCRIBERS

DE C'0 8

DE C '0 9

DE C'10

DE C '11

DE C '12

DE C '13

Mobile Telephony

11,570,455

15,108,916

17,436,949

21,165,843

21,165,844

28,026,482

Fixed Telephony

143,244

267,389

277,897

284,721

284,981

270,422

Total Access Lines

11,713,699

15,376,305

17,714,846

21,450,564

25,835,151

28,296,904

R ATE OF PENE TR ATION PENETRATION

DE C'0 8

DE C '0 9

DE C'10

DE C `11

DE C '12

DE C '13

Mobile Telephony

51.8%

65.9%

74.2%

84.9%

100.4%

107.2%

Fixed Telephony

0.6%

1.2%

1.2%

1.1%

1.1%

1.0%

Total Access Lines

52.4%

67.1%

75.4%

86.0%

101.5%

108.2%

TopGuide2015.indb 51

TOPGUIDE l 2015

TELEPHONE SERVICE SUBSCRIP TIONS (DEC 2008 - DEC 2013)

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ICT

TOPGUIDE l 2015

INVESTMENTS ARE NEEDED FOR THE PROVISION OF SOF T WARE FOR THE COUNTRY, THE E X TENSION OF THE BROADBAND NE T WORK TO RE ACH ACCROSS THE WHOLE NATION, AND TO PROVIDE COMPUTER ACCESS TO RUR AL STUDENTS

52 TopGuide2015.indb 52

E-business Aside from computers, there is an increasing use of mobile phones to access internet services. Therefore, the use of services (e-commerce, advertising and marketing) provided through the internet is on the rise. Following the introduction of up-to-theminute networks in Ghana, people can surf the net anywhere, at any time, and mobile phone users can have easy and fast data exchange on the internet. A growing number of financial institutions and other businesses are undertaking internet banking and venturing into the use of electronic money transactions. The Ghana Interbank Payment and Settlement Systems (GhIPSS), established by the Bank of Ghana to reform the country’s payment system, has set up an e-commerce window which is scheduled to soon become operational. This infrastructure will make it possible for private sector businesses in Ghana to sell and receive payment online within and outside the country.

SAT-3 was the first undersea cable to be brought ashore in Ghana. It arrived in 2001 and presently has a capacity of 340GB per second

Infrastructure The infrastructural base of the ICT sector

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THE MINISTRY OF COMMUNICATION IS ALSO FACILITATING THE ESTABLISHMENT OF SCIENCE AND TECHNOLOGY PARKS African Coast to Europe (ACE] submarine cable. SAT-3 was the first undersea cable to be brought ashore in Ghana. It arrived in 2001 and presently has a capacity of 340GB per second. The Main One undersea cable followed almost 10 years later (landing in 2010) and has 5.12TB per second capacity. In 2011, Glo-1 arrived and has 2.5TB per second capacity. The WAGS became operational in 2012 with a capacity of 5.12TB per second. Early 2013, ACE landed its 5.2TB cable.

includes licensed gateway operators, undersea cable links, private licensed VSAT systems, fixed centres, dedicated transition networks, public distribution networks, wireless mobile operators, public telephones systems, tele-internet service providers, the Ghana Interbank Payment and Settlement Systems (GhIPSS) e-commerce platform, internet backbone connectivity throughout the country and public access point and broadcasting systems. As an initiative to support emerging technologies, the Ministry of Communication is also facilitating the establishment of Science and Technology Parks. The construction of an ICT park in Accra started mid 2012. Funds have also been secured to commence the construc­tion of a second ICT park in Cape Coast. Over the years, broadband connectivity has improved significantly and this is partly due to the arrival of undersea cable links. Their arrivals have subsequently improved internet speed and made prices more competitive. Presently, five cables exist, namely, SAT-3, the West African Cable System (WACS), Main One Cable, Glo-1 and the

TopGuide2015.indb 53

There are considerable investment opportunities in the ICT sector. The sector requires service providers to connect international voice calls to the local networks. Internet service providers are also required to offer affordable internet access to the public, especially in rural areas, and broadcasting operators to establish radio and television broadcasting in the country. There is also a lack of ICT facilities and infrastructure on a broad scale across the nation. Investments are needed for the provision of software for the country, the extension of the broadband network to reach across the whole nation, and to provide computer access to rural students. Technological and other support related services such as the supply of quality telecommunications equipment, ICT equipment and office and network equipment. There are also opportunities in: • Education in the area of software development, networking, VSAT, telecommunication and IT Engineering • Production of Business Solutions • Business Process Outsourcing • Supply of High-Tech Telecommunication Equipments • Back Office Operations (especially for the Financial Institutions] • Provision of Broadband Facilities and Services • Internet Service Provision Service • Transaction Processing • Manufacturing, assembling and supply of computers and accessories • E-commerce and Legal Database Services • Logistics Management Services and Medical Transcription Services.

TOPGUIDE l 2015

Investment opportunities

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ICT

Tax collection goes digital

I

TOPGUIDE l 2015

THE PAST YE AR HAS BEEN MARKED BY THE CONTINUOUS ROLL-OUT OF THE AUTOMATED TOTAL RE VENUE INTEGR ATED PROCESSING SYSTEM

54 TopGuide2015.indb 54

n a review of it’s contribution towards the Revenue Mobilisation and Trade Facilitation goals, the work of the Ghana Community Network Services Ltd (GCNet) has once again been validated by government. The past year has been marked by the continuous roll-out of the automated Total Revenue Integrated Processing System (TRIPS) tax system for the Domestic Tax Revenue Division (DTRD) of the Ghana Revenue Authority (GRA), in particular at the Osu Large Taxpayer Office, whilst further roll-out is being undertaken at other offices, such as those in Legon, Tema and Agbogbloshie. The complementary electronic registration system for the Registrar-General’s Department (RGD) was also extended to RGD’s regional offices at Kumasi, Tamale and Takoradi. The RGD system has been updated with the deployment of a new e-Registrar system. In addition, a shared services portal that enables taxpayers to access tax information, register and obtain a Tax Identification Numbers (TIN); receive tax assessments or file tax returns online; or pay their taxes electronically, has also been deployed With regard to GCNet’s traditional service of providing the “Single Window” system for Ghana’s Trade and Customs clearance processes, more ministries, department and agencies (MDAs) have been connected via the e-MDA portal. Among the MDAs that have been connected have been the Ministry of Foreign Affairs and Regional Integration for the issuance of diplomatic exemptions for Customs clearances; the Energy Commission for energy related import permits; the Plant Protection and Regulatory Services (PPRS); and the Ministry of Food and Agriculture for the issuance of e-Permits for agricultural related imports and exports. The Single Window process has further been deepened with the extension of the Paperless Programme, which seeks to eliminate all paper documentation required for Customs clearances. An enhanced permit module that curbs abuses associated with granting Customs permits has also been deployed. Also with

a standalone application, the car valuation application is now accessible to all Customs stations via a web-based application. The GCNet transit service’s positive impact is felt in regional trade, especially to neighbouring Sahelian countries. The possible diversion of transit cargoes onto the domestic market has been reduced to less than 3% of transit sub-consignments left unclosed (ie not having been properly accounted for). In the light of this positive outturn, both the World Bank and the African Development Bank have presented the GCNet transit service as a model that could be adopted by other countries undertaking electronic transit tracking projects. There is a continuous process of system enhancements. Over the past year, there has been the introduction of an email alert system for database synchronisation and reliability; an improvement in the data replication and exchange of the various applications onto an Oracle Data Guard application; network optimisation including the migration to a Multiprotocol Labelling Switch System (MPLS); and deployment of the second phase of the Ghana Integrated Cargo Clearance System (GICCS). With regard to system security, not only has the Cyberoam firewall system, which is used to guard against system intrusions, been upgraded, but an Imperva security monitoring system that tracks the activities of privileged users on the system as well as undertaking database auditing has been added. The development of a second-tier Disaster Recovery (DR) site at Tema, to complete the existing DR site at KIA, has also been completed. The implementation of the ISO 9001 and ISO 27000 programmes for the provision of quality service delivery and sustenance of a secured system milieu is also ongoing. The company’s achievements over the years continue to be recognised locally and internationally. Beyond the receipt of certificates and accolades, GCNet has also been recognised as a reference point for Revenue Mobilisation and Trade Facilitation by a number of development partners (e.g. World Bank, IMF, USAID, KIZ, ECOWAS Secretariat etc).

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TOPGUIDE l 2015

MINERALS

Still in pole position Extractives maintain their leadership

56 TopGuide2015.indb 56

T

he extractive sector in ghana is the nation’s highest earning sector, dwarfing newly-found oil in terms of the foreign exchange it earns the country. Ghana is among the world’s top gold producers but has a wealth of other natural resources, not all of which are currently been exploited. As well as being endowed with substantial mineral resources, Ghana has a well-established mining sector, which has grown considerably in recent years to represent an important pillar of the Ghanaian economy. The minerals extractive industry currently has 13 large-scale mining companies, over 300 registered small-scale mining groups and 99 support service companies. Industrial minerals are geological materials mined for their commercial value. They are not mineral fuels and are not sources of metals (metallic minerals). They are used in their natural state or after beneficiation either as raw materials or as additives in a wide range of applications. Industrial minerals produced in Ghana

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THE CORE AIM OF THE MINING AND MINER ALS POLICY IS TO “CONSERVE AND SUSTAIN THE DE VELOPMENT OF THE NATION’S MINER AL RESOURCES AND THE MAINTENANCE OF THE ENVIRONMENT”

include diamonds, limestone/dolomite, granite, gravels and silica sand. Other are feldspar, kaolin, marble, salt and cement. It is government policy to diversify the exploitation of its mineral resources base from the traditional minerals like gold, diamonds, bauxite and manganese to include the exploitation of industrial minerals which could promote effective linkages in the economy, to reduce current over-reliance on imported substitutes. The industry operates under the objectives of the National Mining and Minerals Policy. The core aim of the Mining and Minerals Policy is to: “Conserve and sustain the development of the nation’s mineral resources and the maintenance of the environment.”

Mining and minerals policy objectives • Ensuring that Ghana’s mineral endowment is managed on a sustainable economic, social and environmental basis

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The government recognises that private sector investors need to be able to operate profitably

To this end, the government will establish and maintain the following: • Conducive macro-economic environment for mining investment • Stable regulatory environment that provides for the transparent and even-handed treatment of investors • Stable, competitive and fair fiscal regime • Socially acceptable balance between mining and the physical and human environment and ensure that internationally accepted standards of health, mining safety and environmental protection are observed by all participants in the mining sector • Encourage and facilitate orderly and sustainable development of small-scale mining. There is considerable potential for small-scale minerals exploitation in Ghana and the government recognises that small-scale mining can provide additional or alternative livelihoods in rural areas and can help to foster the development of Ghanaian mining skills, entrepreneurship and capital • Empower Ghanaians to become professional miners, mine managers and owners by maximising opportunities for minerals-related education, training, career development and other support • Streamlined and effective institutional arrangements for the mining sector, together with adequate capacity to promote, authorise, monitor and regulate mining operations • Endow Ghanaian mining authorities with the capacities to gather, analyse and disseminate geo-data necessary for the promotion of minerals sector investment • Promotion of sustainable mineral resource management and utilisation • Promotion of effective inter-agency and cross-sectoral linkages • Creation of an enabling environment for effective private sector participation

TOPGUIDE l 2015

and that there is an equitable sharing of the financial and developmental benefits of mining between investors and all Ghanaian stakeholders • Encouraging local and foreign private sector participation in the exploration for, and commercial exploitation of mineral resources, consistent with the government’s commitment to a free-market enterprise economy. The government recognises that private sector investors need to be able to operate profitably, be internationally competitive and satisfy their shareholders’ and employees’ expectations.

57

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MINERALS

AN EMPHASIS ON INVESTMENT PROMOTION HAS BEEN A MAJOR OBJECTIVE OF THE INDUSTRY WITH A SHIF T TOWARDS A GRE ATER E XPLOITATION OF GHANA’S INDUSTRIAL MINER ALS

• Promotion of effective community participation in multiple uses of mineral resources.

The market Ghana is the second largest gold producer in Africa, after South Africa, and the tenth largest in the world. Gold reserves for the country are estimated to be about 1,600 tons. Diamond, manganese and bauxite are other important mineral resources, the full potentials of which are yet to be fully realised. Gold accounts for about 90% of the country’s mineral output and contributes in excess of $2 billion annually to the nation’s coffers. After the record highs of 2012, commodity prices, especially for gold, have fallen. Despite this, mining companies in Ghana are still in good health. As at January 2015, gold was selling at $1,207.69 an ounce on the global market. The mining sector is very robust and there is active participation from both local and foreign companies which operate at various levels in different parts of the country. In addition, there are companies that provide support services for the mining companies, including providing logistics and consultancy services. The Minerals Commission oversees activities in this sector while the Chamber of Mines pursues the interests of players in the sector.

TOPGUIDE l 2015

Investment opportunities

58

Emphasis on investment promotion has been a major objective of the industry with a shift to a comprehensive vision that facilitates greater exploitation of Ghana’s industrial minerals. Investment opportunities in the industry are in the areas of exploitation or production and industrial processes. They include the production of industrial minerals for both local and international consumption, and applications/processing of industrial min-

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erals in the areas of construction, ceramics, paints, electronics, filtration, plastics, glass, detergents and paper. Production opportunities • Companies to set up refinery facilities to serve the local industry for value-added products. • Companies to exploit and produce salt. Potential exists for the utilisation of part of the salt to produce caustic soda which is a raw material for the soap and detergent industry. The chlorine co-product can also be used as a water treatment chemical and also serve as a raw material for the production of various health and sanitation chemicals • Companies to produce clinker for the mining industry. Demand for clinker is estimated at over 1m tonnes a year • Companies to exploit the extensive deposit of granite to produce high quality floor tiles • Companies to produce dimension stones for the building industry • Suppliers of salt for the local market. Engineering and services opportunities • Service companies to provide support services, including contract drilling, assay laboratories, contract mining and geological consultancies to mining companies in the country • Companies to set up manufacturing plants and machinery for the mining industry • Companies to set up downstream production facilities to manufacture key input for the mining industry. Examples, mill balls, drill bits, cyanide and activated carbon.

Specific incentives • Depreciation of 75% of the capital expenditure incurred in the first year of investment and 50% of the declining balance in subsequent years • Investment allowance of 5% in the first year only • Losses in each financial year not exceeding the value of the capital allowance for the year may be carried forward • Capitalisation of all pre-production expenses approved by the authorities when the holder starts development of commercial mining The holder of a Mining Lease is also granted the following benefits:

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• Exemption of staff from out of Ghana of payments of income tax relating to furnishing accommodation at a mine • Immigration quota for expatriate personnel free from any tax imposed by government for the transfer of foreign currency out of Ghana • Exemption from selective alien employment under the selective alien employment decree Ghana’s Minerals and Mining Act 2006, Act 703 has added some significant aspects to the country’s commercial law. They are: • Expenditure on exploration and development may be capitalised in accordance

TopGuide2015.indb 59

with regulated amortisation provision for tax relief • Capital allowances have been designed to shorten the pay-back period and include 75% write-off of capital in the first year and 50% annually thereafter on a declining balance • Retention of a proportion of revenue in a foreign currency account for use in acquiring essential equipment and spare parts required for mining operations which would otherwise not be readily available without the use of such foreign exchange earnings • Exemption from import duties on imported plant and equipment.

TOPGUIDE l 2015

Ghana is among the world’s top gold producers and has a wealth of other natural resources

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HEALTH

The right choices for a healthy nation

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60

he health industry comprises all firms directly involved in the production and promotion of health care. These include all firms (both public and private) operating in the health market and are involved in the manufacturing of health products, provision of health care, health enhancing services and generation of knowledge in support of health. The health industry as a new concept has not been recognised or analysed. The capacity of the local manufacturing industry is under-utilised and the potential of Ghana’s herbal and traditional medicines is largely untapped. The role of this industry in wealth creation is in sustaining health services and creating jobs. The overall aim of the health sector is to promote healthy lifestyles and reduce risk factors that arise from environmental, economic, social and behavioural causes. A major prerequisite for a healthy population is how individuals, families and communities take care of themselves and the environment. Information with the specific aim of empowering people to make the right choice for healthy living has been seen as critical. The main disease burden of the country demonstrates a preponderance of diseases resulting from neglect of basic environmental practices and changes in

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dietary habits, physical activities and adoption of life threatening behaviour. The structure of Ghana’s health industry consists of the following: • • • • • • • •

Health Services Communicable Disease Control Non Communicable Disease Control Reproductive and Sexual Health Nutrition Accident and Emergency Services Clinical Care Traditional and Alternative Medicine Practice • Rehabilitation

Ghana is determined to promote a healthcare sector that an emerging middle-income country deserves

The national health vision is to attain middle income status with US$1,000 per capita by the year 2015 by creating wealth through health.

Infrastructure and resources All regional capitals and most districts have hospitals, polyclinics and clinics. Two teaching hospitals in Accra and Kumasi have facilities for treating special cases. Additionally, a number of religious organisations and private medical practitioners operate hospitals and clinics all over the country. Herbal medicine and psychic healing are also generally practised, while a special government

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A MAJOR PREREQUISITE FOR A HE ALTHY POPUL ATION IS HOW INDIVIDUALS, FAMILIES AND COMMUNITIES TAKE CARE OF THEMSELVES AND THE ENVIRONMENT

Investment opportunities Investment opportunities available in the health sector are in: • Hospitals and clinics • Hospital equipment • Research and development facilities • Drugs and pharmaceuticals • Preventive products e.g. condoms, mosquito nets

Investment incentives 1. IMP OR T CL IM AT E

Herbal Medicine Hospital and Research Centre exists at Akwapim-Mampong. The national health care expenditure as a percentage of GDP growth has been increasing steadily over the years, reaching its highest in 2009. The national health care agenda as enshrined in the Five Year Programme of Work (5POW) indicates that this percentage will rise slightly in the projected years. HE A LT H P R OF E S S ION A L DE N S I T Y IN GH A N A F OR Y E A R 2012 0

5,000

10,000

15,000

20,000

25,000

As the healthcare sector relies on imports there is a very open import climate. Ghana does not have any explicit import restrictions or tariffs that apply specifically to used or refurbished medical equipment in general. Customs officials, regardless of whether it is new or used, generally treat all imported equipment in the same way. Most hospital equipment including ambulances is exempt from duties and taxes by the Ministry of Finance. Some pharmaceuticals are exempt from duties and taxes.

2 . TA R IF F S T RUC T UR E F OR IMP OR T S ZERO RATE DUTY: Imported mosquito

nets falling within Heading No. 5608. 19.00.10 of the HS Code shall now be admitted free of import duty.

15,000 TWENTY PERCENT RATE:

20% is the standard rate of duty. Medical Officers

8,654

General Nurses

Midwives

Community Health Nurses

Medical Assistants

TECHNICAL/SAFETY STANDARDS:

4,023

Pharmaceutical import requirements • All drugs registered • 18 month minimum shelf life • All labelling must be in English • Every drug imported must be registered with the Food & Drugs board

6,539 753

% Districts with appointed Health Information Officers

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EXEMPTIONS: Exemptions on gifts of a charitable nature imported by NGOs are limited to only those for Health and Educational purposes.

1,986

38%

TOPGUIDE l 2015

Pharmacists

21,897

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HEALTH

Controlling vector diseases

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62

n the African continent, every minute, a child dies of Malaria. Insect vectors are the main transmitters of these endemic diseases. Renowned Spanish scientist and dedicated humanitarian, Dr. Pilar Mateo, developed the Inesfly Technology for vector control. Her Inesfly products are an effective tool against diseases such as malaria, dengue, sleeping sickness and yellow fever and have already been tried, tested and used in many countries in South America and South East Asia. From Inesfly Corporation in Spain, Inesfly Africa was established in Ghana in 2011 in order to cater to the African market in which vector-borne diseases are prevalent. Located on Adjuma Crescent in the South Industrial Area in Accra, Inesfly Africa set up its ultra-modern offices and constructed a modern laboratory equipped with the latest technological equipment for quality control and research purposes. The equipment and machinery were all imported and installed and prior to commencement of production, Inesfly Africa sponsored Ghanaian engineers, technicians, pharmacists, chemists and bio-chemists to undergo specialised training abroad, as they would be the team constituting the core technical staff. Eventually, as the factory reaches full op-

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“IN THE HE ART OF AFRICA, INESFLY IS FIGHTING FOR A HE ALTHIER WORLD” DR. PIL AR MATEO

erating capacity, Inesfly Africa would offer employment opportunities to approximately 1,500 Ghanaians in all departments of the company’s operations. The Inesfly technology consists of polymeric micro-encapsulations which allows the insecticide to be released in a gradual and slow manner over time, therefore persisting and prolonging the active duration of the ingredients (up to two years) whilst remaining fully harmless to humans and pets. This new technique of micro-encapsulation is based on a polymeric mould. This mould, not only regulates the slow release, but also acts as a means of transport for the active ingredient (increasing their bio-availability). It also acts as a protection mechanism against external interactions (variable weather conditions such as sun, rain, humidity and so on). Another fundamental contribution to the effectiveness of all the Inesfly range of products is the incorporation of an Insect Growth Regulator (IGR) compound, in the microcapsules. IGR prevents the insect from developing fully as it attacks the full lifecycle of the insect from egg larvae all the way to adult stage. All Inesfly products are completely safe for humans and pets. This is due to several factors including: • The low concentration of active ingredients • The controlled and gradual release of the active ingredients • The low frequency of application. Inesfly Africa, through its products and services, offers a complete integrated approach and solution to pest control, controlling and helping to eradicate the many common pests that cause disease, ill-health and a general nuisance to you, your family and the surroundings in which you live. The Inesfly range of products falls within a broad spectrum for multi-sector applications: • Public Health • Hospitality • Agriculture • Veterinary Health • Ornamental Plants • Personal Health. Currently, Inesfly Africa has introduced

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onto the market Insecticide Paint in two forms: Inesfly Insecticide Paint for interior application – 5A IGR NG, and Inesfly Insecticide Paint for exterior application – 5A IG. These two products, as well as being completely lead-free are highly effective against all kinds of insects: mosquitoes, flies, cockroaches, ticks, fleas, spiders, scorpions, ants and mites. The interior paint is a powerful eradication and prevention tool in all places where there is a substantial infestation of disease causing vectors and as is obvious, in Africa this is virtually everywhere, in homes, schools, offices, hospitals, hotels and so on. Control and prevention is achieved due to the unique active ingredients formulated especially to control all kinds of anthropoids and pests, and in particular to control vectors that transmit endemic diseases including malaria, dengue fever, chagas disease, cholera and so on. The Inesfly Insecticide paint 5A IGR exterior paint is specially recommended for areas with pyrethroid-resistance problems. Inesfly isn’t a traditional paint. It is more like a vaccine for houses. One can think of the houses as being ill as they harbour the insects that are responsible for the transmission of so many diseases. This paint, which contains the microcapsules, when applied on the walls and other surfaces, therefore permits the insects to be controlled in a technologically rational way. Inesfly serves to provide an integrated pest control approach and therefore the products are formulated with a multi-sector application in mind. Due to this, within the Inesfly range of products are the following: • • • • • •

INESLFY EM HOUSE IGR NG INESFLY SPCC COATING INESFLY BED BUGS INESFLY FLOOR CLEANER INESFLY BODY & BODY REPELLENT INESPALM

TOPGUIDE l 2015

“YOU CAN CHANGE THE WORLD PUT TING KNOWLEDGE INTO ACTION”

INESFLY EM HOUSE IGR NG AND INESFLY SP COATING are both ready to use, water-based, semi transparent biopolymer coatings with microencapsulated insecticidal, acaricidal and insect growth regulators. INESFLY SP COATING is for use on all surfaces where there is a high level of insect infestation and especially in hard to reach areas. It is applied by spraying directly onto the surface. As it is a transparent coating, it is recommended for application on various surface types like ceramic tiles, POP ceilings and wooden surfaces. INESFLY EM HOUSE IGR NG is for application onto all areas and surfaces where painting cannot be done due to the surface but it is especially formulated to be applied on fabric. It acts the same way as the insecticide paint and it is highly effective against all kinds of insects and pests. INESFLY BED BUGS is effective for the treatment and prevention of bed bug infestation in rooms, beds and mattresses of schools, homes, hotels and hospitals. The Inesfly technology offers a simple solution in the form of a spray to be applied directly to the affected area. INESFLY EM HOUSE FLOOR CLEANER is a floor cleaner that contains microencapsulated active ingredients for the control of crawling insects (cockroaches, ants, fleas) on surfaces where the product is applied. This product is formulated to remove all kind of dirtiness, specially greasy and oily dirt. The neutral pH allows it to be uses on all types of pavements. It can be used on floors and surfaces where there is a need for good cleaning and protection against crawling insects: warehouses, storage rooms, terraces, basements, cellars, pantries, kitchens, etc. Its composition ensures low foam formation when used in sweeping machines. INESFLY BODY REPELLENT repels flies and mosquitoes thereby providing over six hours of protection from insect bites and stings. This in turn prevents sickness and ill-health. Furthermore, the Inesfly Body Repellent (gel) contains ‘aloe vera’ which delicately provides an additional moisturising function to the skin. In fact the Inesfly Body Repellent (gel) has three functions: repellent, sanitiser & moisturiser. INESPALM allows for the control of all kinds of arthropods and pests in ornamental plants, especially to prevent weevil attacks on the palm plant. It is effective in preventive infestation control against the red palm weevil as well as an exclusive agent in citrus trees. Laboratory and field tests conducted on insect pests of oil and coconut palm trees show that it is effective in controlling the specific agricultural pests that have an adverse effect on oil and coconut farms and plantations.

63 TopGuide2015.indb 63

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AGRICULTURE

Solid performer welcomes investment

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hana can be classified as consisting of three main agriculture zones: the forest vegetation zone of parts of the Western, Eastern, Ashanti, Brong Ahafo and Volta Regions; the northern savannah vegetation zone that includes the Upper East, Upper West and Northern Region; and the coastal savannah which includes mainly the Central, Greater Accra and parts of Volta Region. The northern savannah zone is the largest agriculture zone. Most of the nation’s supply of rice, millet, sorghum, yam, tomatoes, cattle, sheep, goat and cotton are grown in that region. In recent times, mango and ostrich farms have also gained footholds in the northern zone. The coastal savannah is notable for rice, maize, cassava, vegetables, sugar cane, mangos and coconut, as well as livestock. Sweet potato and soybean crops are viable in this agro-ecological zone, under irrigation. The lower part of this zone is drained by the River Volta. Together with other streams and lagoons, these water resources present opportunities for fish farming and aquaculture. In the forest zone where rainfall is plentiful, cocoa, coffee, oil palm, cashew, rubber, plantain, banana and citrus crops are mostly cultivated in these areas. The major strengths of the agricultural sector include a diversity of commodities, well-endowed drainage basin, a well-established agricultural research system and a relative proximity to the European market. Agricultural production is generally dependent on rainfall, although an estimated 6,000 farm enterprises nationwide are using some means of irrigation. For a potential irrigable land area of 346,000 ha, only 10,000 ha is developed, expected to increase to 20,605 ha in 2015. Growth in the agricultural sector was 3.4% in 2013 and predicted to grow at 4.9% in 2015; 5.2% in 2016; and 4.2% in 2017. The sector’s contribution to GDP in 2013 was 21.3%.

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The market Other leading non-traditional export products are fresh or chilled tuna fish, shea and cashew nuts, yams, banana and pineapples. Other leading processed agricultural export products were processed tuna, other prepared fish, cut fresh pineapples, and tomato paste.

Investment opportunities Production Investment opportunities exist for producers and processing companies in the following areas: • Production of horticultural products (e.g. cereals, roots/tubers, industrial crops) for national, regional and EU markets • Production of value-added cocoa, coffee and cotton products • Development of private irrigation facilities • Production of improved seeds and agro-chemicals (fertilisers, pesticides) • Production of veterinary drugs, vaccines and chemicals, feed and nutrients • Processing of dairy products and agricultural products such as cereals, starchy crops, legumes, vegetables, livestock, fisheries, industrial crops and fruits • Technological and support services • Companies to produce and install cold chain equipment • Supply of machinery to establish hatcheries for poultry chicks • Processing machine manufacturers to supply agro-processing and packaging equipment/plants • Suppliers and financiers of factory building technology.

Most of the nation’s supply of rice, millet, sorghum, yam, tomatoes, cattle, sheep, goat and cotton are grown in the northern savannah zone

Distribution • Companies to provide post-production services (transport, packaging, cold vans) • Companies to provide distribution of improved seeds, planting materials and

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agro-chemicals (fertilisers, pesticides) • Distribution of veterinary drugs, vaccines and chemicals, feed and feed ingredients • Training for standards and certification • Capacity building for management and market oriented enterprises • Market intelligence research • Developing agricultural financial lending and insurance packages.

Why invest? Agri-business such as converting crops, fish or livestock produced in Ghana into canned or other packaged products, enjoys a tax holiday of five years from commencement of commercial production, and there are location-based incentives for agro-processing enterprises and exemptions of import duties on imported plant and machinery. Companies producing cocoa by-products from cocoa waste also enjoy a five-year tax holiday from the date of commercial production, while incomes from cocoa for cocoa farmers are exempt from taxes. The law also permits farming losses to be carried for five years of assessment. A tariff incentive – zero rated for agro inputs, plant and machinery. A non-tariff incentive – in the observation of regulations on import/export of agro-products.

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GHANA’S PRINCIPAL CROPS HOR T ICULT UR A L P R ODUC T S P ine apple s B anana s Yam s Mangoes Flowers

W E IGH T ( KG)

41,211,912

VA L UE ( U S $) 16,815,539

60,424,502

15,317,326

25,079,360

12,251,121

1,222,332

2,688,654

811,814

2,025,099

Vegetables

1,959,601

1,215,441

Coconuts

4,102,255

1,004,539

Oranges

7,588,948

482,841

Beans

7,111,770

418,094

Apricots

899,400

180,591

Spinach

113,348

143,265

Pawpaws

425,512

136,422

91,725

102,490

Fruits

8,138

69,690

Soya Beans

301,001

59,499

Onions and shallots

316,343

59,160

Tomatoes

59,852

36,745

Plantain

77,829

28,578

Aubergines

17,536

27,248

Guavas

TOPGUIDE l 2015

AGRICULTUR AL PRODUCTION IS GENER ALLY DEPENDENT ON R AINFALL, ALTHOUGH AN ESTIMATED 6,000 FARM ENTERPRISES NATIONWIDE ARE USING SOME ME ANS OF IRRIGATION

65

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TOURISM

Open skies, open opportunities

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he tourism industry in Ghana has experienced a dramatic turnaround since 1996, and 2013/14 continued this phenomenal growth. The number of tourism visits from 2006 to 2010 indicated a steady increase, with an average annual growth of 17%. Indeed from nearly half a million international visitors in 2006, the number of people visiting Ghana virtually doubled by 2013. In 2010, the UN’s World Tourism Organisation’s annual compilation singled out Ghana along three other Sub-Saharan Africa countries for outperforming the world average tourism growth for the year. With its total of 931,224 arrivals and receipts of $1.875bn recorded in 2010, Ghana achieved a growth of 16%. The country receives the largest number of tourists visiting Africa for cultural purposes, and in 2013 was ranked amongst the top 10 African tourist destinations overall. Ghana is currently served by most

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major airlines including KLM Royal Dutch Airlines, Ethiopian Airlines, Air Namibia, Emirates, Lufthansa, Delta Airlines, Virgin Atlantic, Brussels Air, and British Airways. Tourism is the most promising sector of the national economy, ranking as the fourth highest foreign exchange earner. It is one of the fastest growing economic sectors, with a huge potential for poverty reduction and wealth creation for the people. In 2013, the sector contributed a total of $1.7bn to GDP and employed over 400,000 Ghanaians directly and indirectly across the country. The country has the great advantage of being the best tourism destination in Africa because of its historic slave forts, its cultural diversity, natural environment and political stability. The World Travel and Tourism Council (WTTC) has projected that by 2021, international tourist arrivals to Ghana will have soared to well over a million visitors each year.

In 2006, Ghana embarked on the Harmonised Standards in the ECOWAS sub-region for the classification of its hotels and restaurants

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YEAR

A R R I VA L S

R E CE IP T S ( U S $ MIL L ION S)

20 0 9

698,069

1,172.80

2010

782,351

1,472

2011

818,569

1,603.1

2012

903,300

1,715.2

2013

993,600

2,875.0

THE TOURISM SECTOR’S GROW TH R ATE, AT AN AVER AGE OF 17%, IS ONE OF THE FASTEST GROWING ECONOMIC SECTORS AND THE FOURTH HIGHEST FOREIGN E XCHANGE E ARNER Ghana is keen to promote non-mass tourism, focusing on sustainable tourism. Areas for consideration include: • Culture tourism – festivals, events, rural tourism • Heritage tourism, with a focus on the slave route • Recreational tourism – beaches, water sports, theme parks and golf • Adventure tourism – rainforest ecotourism, game parks, white-water rafting, cruise lines etc. • Events tourism with a focus on conferences, summits and meetings. Ghana has numerous game and wildlife parks including the Mole National Park located in the Northern Region. It offers visitors the unique experience of “foot [trekking] safaris”. The Owabi Wildlife Sanctuary is a natural habitat for many species of wildlife, as well as for a number of migratory birds, located 16km west of Kumasi. Other wildlife reserves are the Shai Hills Game Reserve, Digya National Park, Kogyae District Nature Reserve, Bui National Park, the Ankasa Game Reserve and Nini Suhien National Park. There are numerous colourful traditional festivals and durbars. One such festival is the Dipo (Puberty rites) of the Krobos. The Aboakyir (Deer hunting celebration) is held

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by the people of Winneba. Homowo (Harvest/Thanksgiving] is a festival of “over-coming hunger” by the Gas. Damba is celebrated originally to mark the birth of the Prophet Mohammed but also has a traditional character; this is celebrated in the north of Ghana. Hogbetsotso is of the Anlos tribe and signifies their migration into Ghana. The Adae (Festival of the purifying of the Ashantis’ ancestral stools) is an equally great festival with much pomp and pageantry. Ghana’s tourism industry is poised for sustained high performance in the coming decade. International tourist arrivals in Ghana increased from 903,300 in 2012 to 993,600 in 2013, with receipts for these periods of $1.715bn and $2.875bn respectively. In 2013 the USA, UK, Germany, The Netherlands and France were the lead countries in terms of tourist arrivals from outside Africa. Nigeria, CÔte d’Ivoire, Togo and South Africa top the list of African tourists visiting Ghana. In 2006 Ghana embarked on the Harmonised Standards in the ECOWAS sub-region for the classification of its hotel accommodation and catering establishments. The operators have been assisted in implementing these standards by the Ghana Tourist Board (GTB). This standardisation by the operators resulted in a total number of 20,788 rooms and 32,057 beds in 2013, from a total of 2,842 hotels registered, being graded. There is increasing evidence that Ghana is the preferred conference destination in Africa as more organisations choose the country for their meetings. Statistics also show that other West African nationals prefer to do business in Ghana, evidenced by the increasing number of both regional and international airlines servicing the country. Ghana has strong cultural and historic links with the USA and Europe. To meet the needs of these markets, the country has developed targeted programmes and events, some of which include: Emancipation Day is an annual celebration of the freedom gained by Africans at home and abroad, after 400 years of slavery. The celebration, which begins in the last week of July and climaxes on the 1 August, is the anniversary of the declaration of the emancipation of slaves. It is during this time of year that Ghana commemorates the many lives lost to the African holocaust. Ghana’s celebration of the event, which began in 1998, the first on the African continent, is aimed at consistently developing a unique sense of unity, co-operation and understand-

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GHANA’S TOURISM GROW TH 2009-2013

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TOURISM

ing amongst Africans on the continent and in the diaspora. The Unique Culture heritage festival features music and dance, art and folklore celebrations of Ghana’s rich historical heritage and its world heritage monuments. Pan Africanism creates a renewed interest in traditional festivals and events. The Hang-gliding and Paragliding Festival is held in the Eastern Region of Ghana over the Easter Holidays. In 2007, the festival gained the partici­pation of 26 international gliders and attracted 7,000 spectators. 2013 saw the resuscitation of the event, which attracted a huge number of international gliders. A Regatta is organised in Elmina, Central Region for fisher folk, which creates an opportunity to develop domestic tourism. The increasing number of tourists and the evolving profile of today’s traveller demands a host of new tourism offerings and infrastructure projects. A wide spectrum of investment opportunities arise out of Ghana’s long-term tourism plans.

Tourist accommodation Multi-hotel resorts: The Volta Estuary; Accra and environs; Brenu beach in the Central Region; Cape Three Points area in the Western Region; Lake Bosumtwi in Ashanti; the Volta Lake Basin incorporating Dodi Island, Dwarf Island Digya National Park, Melinli Peninsular, Amedzofe and Wli-falls in the Volta Region. Single-hotel resorts at beach sites, botanic garden sites, other lake sites etc. Business hotels of all classes.

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Mountain resorts, lodges and inns: Desirable locations include eco-tourism sites (eco-lodges in national parks), as well as other isolated tourism attraction sties and towns.

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Motels and hostels particularly on or near university campuses for dual use by tourists and campus students.

Hang-gliding, regattas, and music and dance festivals are among Ghana’s many tourism attractions

Camping sites for the trans-Saharan adventure tourists with suitable sites at Paga, Tamale, Kintampo Falls, Kumasi and Accra.

Motel and highway rest stops Small scale rest stop: This is a simple basic roadside stop with facilities for parking,

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washrooms, basic refreshments etc. Medium scale rest stop: Fairly elaborate with facilities for parking, washrooms, cafeteria, shop, fuel and auto servicing.

Tourist information shops

These independent shops are in high demand in major tourist centres particularly Accra, Kumasi, Cape Coast/Elimina and border entry points.

Tourist transport services A NUMBER OF FESTIVALS AND E VENTS AIM AT CONSISTENTLY DE VELOPING A UNIQUE SENSE OF UNIT Y, CO-OPER ATION AND UNDERSTANDING AMONGST AFRICANS ON THE CONTINENT AND IN THE DIASPOR A

The services listed below are required at major tourist locations: Tourist taxi This is highly inadequate. It may be operated by companies licensed by the Ghana Tourist Board and registered to operate from specified bases namely hotels, airports and other transport terminals. Air taxi This is also highly inadequate but there is growing demand for it by both business and holiday visitors requiring quick visits to locations outside Accra. Car hire The growing amount of tourist traffic is not being matched by investments in the various categories of road transport vehicles especially tourist coaches, tourist buses, limousines, and cross-country vehicles for trekking and safaris. Cruise boats The Volta Lake offers opportunities for the operation of various types of lake transportation for leisure purposes such as cruise excursions, purely passenger services, or a more personalised recreation such as fishing etc.

Tourist travel services

Tour guide services These involve setting up a company which employs a pool of tour guides for operators and conference organisers etc. Tour handler services This is a small-scale operation whose services may be hired by an incoming tour operator to handle the ground logistics required by incoming package tourists.

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The growth of various types of tourism has created opportunities for investing in tourist handling services including:

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Tour operations This is a larger form of a tour landing outfit. In this case, the operator is required to own buses and coaches, and must have its own tour packages. It requires substantial investment in office space, equipment, staff outlay and considerable experience in airline and tourist travel operation, as well as substantial insurance cover. Travel agencies This sector is heavily oversubscribed but there is still space for enterprising new entrants.

Tourism financial services

These services are in short supply and as visitor traffic grows, there will be the need for more such services, particularly: Credit card agents or discount houses To offer credit to pay bills at areas which do not accept credit cards. Foreign exchange bureaux Though there are many, there are opportunities for more to open at convenient locations. Tourism rental services There is a growing demand for the rental of catering, camping and picnic accessories as well as mobile telephones to serve travellers, event organisers etc.

Ghana’s primary tourism offer includes sightseeing, festivals, crafts, monuments, game-viewing and nature walks

Tourism medical services

There is a growing demand for various types of health services for visitors, especially tourism health insurance companies and ambulance services for tourists, including flying doctor services for remote areas.

Food and beverage services

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The following will be required to meet the growing demand:

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• Street taverns, cafés and food counters specialising in local as well as foreign snacks. • Pubs – pubs such as the Hard Rock Cafe are non-existent in Ghana. • Night clubs which offer table service with floor or live shows • Fast-food restaurants – these are becoming popular and as the country receives more tourists, the demand grows • Specialty restaurants, especially African and Ghanaian cuisine specialities.

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A TOUR OPER ATOR IS REQUIRED TO OWN BUSES AND COACHES, AND MUST HAVE ITS OWN TOUR PACK AGES. IT REQUIRES SUBSTANTIAL INVESTMENT IN OFFICE SPACE, EQUIPMENT, STAFF OUTL AY, AND SUBSTANTIAL INSUR ANCE COVER

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Entertainment

Accra and all the major cities as well as tourist centres literally go to bed at sundown for lack of nightlife activities. There is growing demand for international class: • Public houses (pubs) and bars • Discotheques, night-clubs, casinos • Amusement parks etc

Leisure and sport

Although Ghana attracts large numbers of European, American, Asian and African tourists, they generally make short stays because of the lack of activities. Ghana’s tourism offer is mainly sightseeing, festivals, monuments, game-viewing and nature walks. There is a high demand from tourists for leisure and sporting activities to enliven their stay, such as world-class golf courses for international tournaments, marinas on the Atlantic, inland lake and big river sport fishing, yachting, sailing, surfing, theme parks, and sports centres in cities offering a wide range of indoor/ outdoor activities.

Meeting facilities

These include: multipurpose convention/ conference/exhibition centres; souvenir shops; supermarkets; shopping malls; and duty-free shops.

Education

There is a need for training centres, a greater use of e-learning channels and other more innovative and flexible ways of providing education and skills development. There are generous incentives specifically for the tourism sector. Goods imported by hotels and restaurants (including fast-food chains, with a seating capacity of 30 or more persons) attract a 10% concessionary duty rate. Items to be considered that should be in the appropriate quantities (relating to size, number of rooms, seating capacity etc.) are as follows: • Refrigerators/deep freezers • Kitchen cookers • Heat extractors • TVs, radios and cooling fans • Air-conditioners • Public address systems • Furniture • Carpets, bedding and fixtures • Electrical items • Cutlery and crockery

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Why invest?

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CONTACTS

Useful Contact Information OFFICE OF THE PRESIDENT P.O. Box 1627, Osu, Accra Tel: 0302 665415, 0302 666281 www.ghana.gov.gh, www.presidency.gov.gh

GHANA TOURIST AUTHORITY P.O Box GP 4386, Accra Tel: 0302 222153, 0302 244794, 0302 244795, 0302 767323 Fax: 0302 244611

PROMOTION AGENCIES

FACILITATION AGENCIES

GHANA EXPORT PROMOTION AUTHORITY P.O. Box M146, Accra Tel: 0302 689889, 0302 683153 Fax: 0302 677256 www.gepaghana.org gepa@gepaghana.com

BANK OF GHANA P. O. Box GP 2674, Accra, Tel: 0302 666174 – 6 www.bog.gov.gh bogsecretary@bog.gov.gh

GHANA FREE ZONES BOARD P.O. Box M626, Accra Tel: 0302 780535, 0302 785037, 024 2174534 Fax: 0302 780536, 0302 780537 www.gfzb.com.gh info@gfzb.gov.gh GHANA INVESTMENT PROMOTION CENTRE P. O. Box M193, Accra Tel: 0302 665125, 0302 665126, 0302 665127, 0302 665128, 0302 665129 Fax: 0302 663801, 0302 663655 www.gipcghana.com info@gipcghana.com

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GHANA NATIONAL PETROLEUM CORPORATION PMB Petroleum House, Tema Tel: 0303 206020, 0303 204654 Fax: 0303 206592, 0303 202854 www.gnpcghana.com info@gnpcghana.com MINERALS COMMISSION P. O. Box M 248, Accra Tel: 0302 771318, 0302 773053, 0302 772783 Fax: 0302 773324 www.ghana-mining.org mincom@mc.ghanamining.org

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GHANA STOCK EXCHANGE P.O. Box 1849, Accra Tel: 0302 669908, 0302 669935, 0302 669914, 0302 664715 Fax: 0302 669913 www.gse.com.gh info@gse.com.gh CUSTOMS, EXCISE & PREVENTIVE SERVICE Tel: 0302 666841-2, Fax: 0302 668263 GHANA IMMIGRATION SERVICE Independence Avenue, Accra Tel: 0302 224445, 0302 258250, 0302 13401 Fax: 0302 258249 www.ghanaimmigration.org info@ghanaimmigration.org GHANA REVENUE AUTHORITY PMB TUC Post Office, Accra Tel: 0302 675701-10, 0302 686106, 0302 684363 Fax: 0302 681163 www.gra.gov.gh REGISTRAR GENERAL’S DEPARTMENT P. O. Box 118, Accra Tel: 0302 664691-93 Fax: 0302 662043 www.rgd.gov.gh GHANA CIVIL AVIATION AUTHORITY Private Mail Bag Kotoka International Airport, Accra Tel: 0302 776171, Fax: 0302 773293 www.gcaa.com.gh info@gcaa.com.gh

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LUXURY

MaxMart The ultimate one-stop shop

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ith branches at the A&C Mall – East Legon, Legon Mall, Tema Central Mall, Kumasi (off the Asokwa Interchange) and others coming soon, MaxMart Family Shopping Center has established itself as the place for all those who crave quality products, presented in premises of immaculate ambiance, with excellent, courteous service.

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It is no surprise that many international

luxury name brands like Cerutti 1881, Lancel, Tumi, TagHeure, Samsonite, Mont Blanc and many others, lost no time to be represented at MaxMart. The luxury department store features all the high-end luxury fashion brands as well as top perfumes and cosmetics. The simple idea to create a chain of ‘ultimate, one-stop luxury stores’ has now taken shape and revolutionised Ghanaians’ shopping experiences, with MaxMart... the promise of shopping excellence.

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CONTACTS

GHANA PORTS & HARBOUR AUTHORITY P. O. Box 488,Tema Tel: 0303 219120 www.ghanaports.gov.gh atorkornoo@ghanaports.net AIRPORTS AND AIRLINES KOTOKA INTERNATIONAL AIRPORT Accra: 0302 776617, 0302 776171 V.I.P. Lounge: 0302 776684 Kumasi: 03220 22969 Tamale: 03720 22108 AMERICAN AIRLINES Tel: 0302 688804, 0302 688805, 0302 688806, 0302 688808 info@americanaairlines-gh.com ANTRAK AIR Tel: 0302 782814/17 Fax: 0302 782816 www.antrakair.com info@antrakair.com DELTA AIRLINES Tel: 0302213111 Fax: 0302213121 www.delta.com BRITISH AIRWAYS Tel: 0302 214996, 0302 214970 contactba.ghana@britishairways.com EMIRATES AIRLINES Tel: 0302 213131, Fax: 030 2213158 accres@emirates.com

K.L.M. ROYAL DUTCH Tel: 0302 214700, 0302 214747 Fax: 0302 241574 www.klm.com.gh KENYA AIRWAYS Tel: 0302 215300, 0302 785013, 0302 241560, 026 1984854 www.kenya-airways.com LUFTHANSA Tel: 0302 243893, 0302 243894, 0302 243895 Fax: 0302 243897 www.ghana.lufthansa.com ROYAL AIR MAROC Tel: 0302 766333, 0302 768197, 0302 787182 www.royalairmaroc.com SOUTH AFRICAN AIRLINES Tel: 0302 783676, 0302 783680, 0302 783679 Fax: 0302 783561 www.flyssa.com TAP PORTUGAL Tel: 0302 768892/94, 0302 984524/5 www.flytap.com (Flying to Sao Tome from Accra three times a week) TURKISH AIRLINES Tel: 0302 765880, 0302 734561 www.turkishairlines.com

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ETHIOPIAN AIRLINES Tel: 0302 664857, 0302 664856, 0302 664858 Fax: 0302 673968 www.ethiopianairlines.com GAMBIA BIRD AIRLINES Tel: +233 303 93 46 93 / 0249 050601 www.gambiabird.com IBERIA Tel: 0302 773737, 0302 776171 Ext: 4335/4546 www.iberia.com/gh

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GAMBIA BIRD

MAKING BUSINESS EASIER

Ghana is currently at the forefront of economic progress in West Africa. This coupled with its friendly business climate makes Ghana a popular place to do business and a key West African destination. At Gambia Bird Airlines, we aim to ensure that our service is capable of meeting all the needs of business travellers flying from and to Ghana. Our flight network currently includes direct flight connections between Accra, Banjul, Dakar, Douala, Freetown and Lagos as well as further reaching weekly connections to Europe. As the region grows, so do we. As an airline our goal is to continually expand this network to best serve our business travellers. While our premium class option has been specifically designed to provide an increased level of service at an affordable price. In premium, passengers enjoy extra legroom, ensuring that you arrive at your destination in comfort and fresh for the next meeting. With a proven track record of excellent customer satisfaction rates, our direct flight connections make international business meetings easier than ever before. Additionally, the enhanced premium catering service offers business travellers a variety of healthy gourmet food and drinks. Premium passengers also have access to a wide array of magazines and newspapers, and increased baggage allowance.

For all information regarding flight schedules and bookings please visit

www.gambiabird.com Official fan page

@GambiaBird

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We believe that our excellent and dedicated service combined with affordable prices makes us the airline of choice for West African business travellers. Fly premium class with Gambia Bird and arrive at your destination on time and in style.

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CONTACTS

EMBASSIES AND HIGH COMMISSIONS AUSTRIA Tel: 0302 783368, 024 6256806 Fax: 0302 763236 consulaustria@busymail.com.gh AUSTRALIA Tel: 0302 216400 Fax: 0302 216410 www.ghana.embassy.gov.au BELGIUM Tel: 0302 776561 Fax: 0302 764384 consubel@4u.com.gh CANADA Tel: 0302 211521 Fax: 0302 211523, 0302 773792 www.ghana.gc.ca accra@international.gc.ca CHINA Tel: 0302 777073 Fax: 0302 774527 www.gh.china-embassy.org chinaemb_gh@mfa.gov.cn DENMARK Tel: 0302 253473 Fax: 0302 228061 www.ambaccra.um.dk accamb@um.dk FRANCE Tel: 0302 214566 Fax: 0302 214559 www.ambafrance-gh.org consulat.accra-amba@diplomatie.gouv.fr

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GERMANY Tel: 0302 211000 Fax: 0302 221347 www.accra.diplo.de info@accra.diplo.de

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JAPAN Tel: 0302 765060 Fax: 0302 762553 LEBANON Tel: 0302 776727 Fax: 0302 764290 lebanon@ighmail.com NETHERLANDS 021 - 773644 Tel: 0302 214356 www.ghana.nlembassy.org ACC-CDP@minbuza.nl RUSSIA Tel: 030 2775611 Fax: 0302 772699 russia@4u.com.gh SAUDI ARABIA Tel: 0302 774311 Fax: 0302 773424 SOUTH AFRICA Tel: 0302 740450 Fax: 0302 762381, 0302 764484 sahcgh@africaonline.com.gh

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SPAIN Tel: 0302 774004 Fax: 0302 776217 emb.accra@mae.es SWITZERLAND Tel: 0302 228125 Fax: 0302 223583 www.eda.admin.ch/accra acc.vertretung@eda.admin.ch TURKEY Tel: 0302 771700 Fax: 0302 771628 embassy.accra@mfa.gov.tr

INDIA Tel: 0302 775601 Fax: 0302 772176 www.indiahc-ghana.com indiahc@ncs.com.gh

UNITED KINGDOM Tel: 0302 221665 Fax: 0302 7010655 www.ukinghana.fco.gov.uk high.commission.accra@fco.gov.uk

ITALY Tel: 0302 77562 Fax: 0302 777301 www.ambaccra.esteri.it ambasciata.accra@esteri.it

UNITED STATES AMERICA Tel: 0302 741000 Fax: 0302 741389, 0302 741362 www.ghana.usembassy.gov consulateaccra@state.gov

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HOSPITALS AND MEDICAL CENTRES AKAI HOUSE CLINIC Tel: 0302 784772, 0302 784773 Fax: 030 2784775 info@akaihouseclinic.com NYAHO CLINIC Tel: 0302 775341, 0302 775291, 0302 784505 Fax: 0302 777593 www.nyahomedical.com LISTER HOSPITAL Tel: 0302 812325/6

EMERGENCY NUMBERS AMBULANCE 193 FIRE SERVICE 192

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MEDLAB GHANA Tel: 0302 776844, 0302 773994

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37 MILITARY HOSPITAL Tel: 0302 777595, 0302 781802, 0302 767691 KORLE BU TEACHING HOSPITAL Tel: 0302 665401, 0302 673033

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The Omanye Conference Centre The Omanye Conference Centre

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WestAfrica’s Africa’s Premier Premier Conference West Conference West Africa’s Premier Conference andBanqueting Banqueting Destination and Destination and Banqueting Destination TOPGUIDE l 2015

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For enquiries contact: +233 302 772 501

www.LegacyHotels.com

Forenquiries enquiriescontact: contact: +233 For +233 302 302772 772501 501 •• www.LegacyHotels.com www.LegacyHotels.com TopGuide2015.indb 79

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SUGGESTED HOTELS

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LABADI BEACH HOTEL La, Accra Direct Reservation Number: +233 30 277 3026 labadi@legacyhotels.co.za www.legacyhotels.co.za

MÖEVENPICK AMBASSADOR Accra Central Tel: +233 302 611 000 www.moevenpick-hotels.com

HOLIDAY INN Airport, Accra Tel: +233 302 740 930 / 785 212 www.holiday-inn.com

GOLDEN TULIP Airport, Accra Tel: +233 302 313161 info@goldentulipaccra.com www.goldentulipaccra.com

AFRICAN SUN Airport, Accra Tel: +233 302 742747 salesmanager@aha.africansunhotels.com www.africansunhotels.com

ALISA HOTELS Ridge, Accra Tel: +233 302 214 233 / 214 244 info@alisahotels.com www.alisahotels.com

THE ROYAL SENCHI Atimpoku/Senchi, Akosombo (Eastern Region) Tel: +233 30 34 09 170 info@theroyalsenchi.com www.theroyalsenchi.com

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BEST WESTERN HOTEL Airport, Accra Tel: +233 302 766 902 / 766 905 www.bestwesternpremier.com.gh

FIESTA ROYALE North Dzorwulu, Accra Tel: +233 302 740 811 info@fiestaroyalehotel.com www.fiestaroyalehotel.com

LA VILLA BOUTIQUE HOTEL Osu, Accra Tel: +233 302 730 333-6 info@lavillaghana.com www.lavillaghana.com

OLMA COLONIAL SUITES Osu – Nyaniba Estates, Accra Tel: +233 50 257 9952 info@ntinvestments.com / support@ntinvestments.com www.olmacolonialsuites.com

VILLA MONTICELLO (Boutique Hotel) Airport, Accra Tel: +233 302 77 3477 www.villamonticello.com

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THE AFRICAN REGENT Airport West, Accra Tel: +233 302 765 180 /81/82 info@african-regent-hotel.com www.african-regent-hotel.com

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