DOING BUSINESS IN GHANA

The country is one of the first, regarding its size, to have quite a good mark in the African ‘doing business ratio’ reported the International Business Times and the magazine African Business. Ghana’s economy has been strengthened by a quarter century of relatively sound management, a competitive business environment, and sustained reductions in poverty levels.

The country is well endowed with natural resources and agriculture accounts for roughly one-quarter of GDP and employs more than half of the workforce, mainly small landholders. The services sector accounts for 50% of GDP.

The country’s rapid economic growth is currently supported by lots of foreign direct investments as the government opted for a liberalised economic system as a mean to stimulate the economy. Opportunities are therefore opened to multinationals willing to invest in that strategic pole of Africa due to the country regional position and encouraging business state as well.

Tata motors from India currently have an outlet as well as the western Africa regional car seller CFAO Motors commercializing Toyota, Mitsubishi cars, Mercedes Benz, Ford enjoying great profit margins. Ghana represents therefore a strategic place and country to conquer for the automobile segment. However, this will all depend on the choice of the right market entry and marketing communication strategies.

THE GROWING MIDDLE CLASS

Africa now has the fastest-growing middle class in the world. Some 313 million people, 34% of Africa’s population, a 100% rise in less than 20 years, according to the African Development Bank. It is projected to have the largest number of middle class by 2050 and investment experts says that means there is the need for increased financial inclusion on the continent.

Accra is poised to be the fasted growing city in attracting high-net-worth individuals (HNWIs) this is according to the latest study by New World Wealth and AfrAsia. There are approximately 163,000 millionaires living in Africa (as of June 2015), with combined wealth holdings of US$670 billion.