Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities
In Ghana, electrification rates have gradually increased over the past 20 years, reaching over 85% of the population. The country relies on a diversified energy mix and hosts the largest hydropower project in West African. Ghana, with assistance from a range of international development partners, is continuing to upgrade its electricity transmission and distribution systems to achieve its goal of becoming a regional exporter of power and to shed its expensive excess power capacity.
As oil and gas production shows growth, opportunities for auxiliary services will continue to rise. Although Nigeria remains the oil and gas hub for West Africa, Ghana is attracting more companies and partners for its oil and gas sector.
The mining sector, including gold, bauxite, manganese, diamonds, salt, and lithium, is a major contributor to the Ghanaian economy. Goods and services exports in this sector represent a significant opportunity for U.S. companies. The Ghanaian government is pursuing the expansion of local value-added processing.
The Ghanaian construction industry has demonstrated sustained growth, with major construction activities in roads, highways and bridges, coastal works, and residential buildings. Success in this sector is closely tied to the government budget and the availability of developers to find appropriate financing. Construction equipment, including re-conditioned equipment, is likely to continue to be a promising sub-sector.
The automotive industry presents a new opportunity as the government seeks to establish Ghana as the hub for assembling automobiles in the sub region. This has begun with companies such as Toyota, Volkswagen, and Mahindra. In connection with this, several tax waivers and other incentives are being offered to attract Original Equipment Manufacturers to establish assembly plants from both Semi Knocked Down and Completely Knocked Down kits.