Ghana is full of possibilities for SA

At the first Ghana/SA BUSINESS and Investment Forum in Gauteng, the vice-president of Ghana, Aliu Mahama, called for more SA investment in Ghana. Agriculture was one of the key areas in need of investment. Although SA is increasingly becoming an important investor in Ghana, Mahama expressed dissatisfaction with the imbalance of trade between the two countries. “I am not satisfied with the level of trade and activity between SA and Ghana which is heavily skewed in favour of SA,” he said.
Mahama said Ghana’s agricultural sector is a main driving force of the economy. It contributes 42% to the country’s GDP and 54% of Ghana’s workforce is employed in this sector. Investment opportunities in agriculture exist in sectors such as crop and poultry production, aquaculture, agro-processing and agribusiness. Robert Ahomka-­Lindsay, CEO of Ghana ­Investment Promotion Centre, said infrastructure investment in roads, railways and ports is also needed. Technological and irrigation services and production of inputs such as fertilisers, fungicides and pesticides are other critical areas of investment. Edward Boateng, executive secretary of the Ghana Export Promotion Council, said trade statistics in 2006 indicate that almost 50% of non-traditional exports from Ghana were destined for the EU. Exports to African countries, including SA, totalled only 2,82%. Mahama said Ghana has undergone a number of reforms to improve its business environment. The country’s growth performance is also proof of an ­improving economy. “Economic growth of Ghana has exceeded targets for three ­consecutive years,” he said, adding that a 6,5% growth rate is expected this year. Ahomka-Lindsay said declining ­inflation, competitive corporate tax, improving physical infrastructure and the relatively low cost of labour are some drawcards for investors. – Wilma den Hartigh