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Doing Business in Ghana

Doing business in Ghana can at times prove to be different from doing business in Denmark.

Over the years, Ghana has caught the eye of foreign investors and companies seeking to explore business opportunities in the country and other parts of West Africa. Below we provide some useful information about the business climate in Ghana.

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Business Climate

By African standards Ghana enjoys a sound business climate. In 2015, Ghana was recognized by the World Bank as the best place for doing business in the ECOWAS region. The rankings are determined by sorting the aggregate distance to frontier scores on 10 topics: starting a business, getting electricity, dealing with construction permits, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

Safety

Ghana is a stable African democracy and is viewed as one of the safest and most peaceful countries in West Africa. For that reason you will find little trouble in coming to Ghana to explore business opportunities.

Punctuality and Ghanaian Mood

Time-consciousness and punctuality have another saying in Africa than in Denmark, and Ghana is no exception. Danish companies doing business in Ghana must therefore accept that things do not always come around in the same pace as in Denmark or other foreign markets. Time plans feasible under Danish standards risk not being realistic in Ghana.  

Ghanaians are very easy-going people who are easily approached. Moreover, there are no significant contrasts between Ghanaian and Danish tone and humour, so interaction with local partners, business associates and distributers should go fairly easy.

Corruption

The Government of Ghana has declared a “zero tolerance” for corruption. In 2015, Ghana’s score on the Transparency International’s Corruption Perception Index (CPI) was 48. The CPI scores countries on a scale from 0 (highly corrupt) to 100 (very clean). Ghana was ranked 61st out of 175 countries and 2nd among West African Countries.

Scamming and Imposters

The increasing foreign activity in Ghana has given rise to many scammers and imposters trying to trick and fraud foreigners of their possessions. Foreign companies should be aware of this when doing business in Ghana – particularly when dealing with local partners. The Trade Council encourages all companies experiencing fraud or scams to report it to the Embassy.

Religion

Ghana is a highly religious country consisting mainly of Christians (71.2%) and Muslims (17.6%). Ghanaians are in general very serious about their religion, and Saturdays and Sundays are normally reserved for Church going. Religion should thus be respected in Ghana.

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Contact us:

Jacob Kahl Jepsen
Head of Trade Team
Commercial Attaché
Tel.: +233 (0) 244 320 831
Email: jajeps@um.dk

 

Linda Kafui Abbah-Foli
Commercial Advisor
Tel.: +233 (0) 244 311 102
Email: linabb@um.dk 

 

Mathias Knudsen

Trade & Investment Trainee
Tel.: +233 (0) 548 418 945

Email: matknu@um.dk