ENVIRONMENTAL AND SOCIAL SYSTEMS ASSESSMENT

The Ghana Women and Youth Employment and Social Cohesion (GWYESCO) Programme seeks to contribute meaningfully to Ghana’s long-term development goals by enhancing resilience and  promoting social stability.

The overall development objective of the Programme is to enhance the resilience and living conditions of women and youth by fostering economic inclusion and social cohesion through job creation, entrepreneurship, access to finance and skills development.

The Programme will then focus mainly of job creation and social cohesion through training in STEM, digital and creative skills, as well as improving access to finance for women- and youth-owned MSMEs.

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File photo of gold bars and cedi notes

Fitch Solutions has cautioned that a sharp decline in global gold prices could significantly erode Ghana’s international reserves and destabilise the cedi.

The UK-based research firm noted that such a scenario could be triggered by a return to more conventional trade policies in the United States or the resolution of major global geopolitical tensions.

According to Fitch, if gold prices were to fall sharply, the Bank of Ghana would struggle to maintain the cedi’s current stability, potentially leading to a renewed sell-off of the local currency.

“This would keep inflation elevated, lead to a weakening in consumer and investor sentiment, and prompt the central bank to keep interest rates higher for longer,” Fitch Solutions stated.

This development forms part of the firm’s downside risk outlook for Ghana in its recent report.

On the other hand, Fitch noted an upside scenario where a further appreciation of the cedi would help bring inflation down more quickly than currently projected.

The firm explained that this would boost private consumption and create room for the Bank of Ghana to ease its tight monetary policy stance, potentially stimulating credit uptake and supporting broader economic growth.

Fitch also projected that government consumption will contract in 2025, as the administration prioritises fiscal consolidation measures in line with Ghana’s International Monetary Fund (IMF) program.

This anticipated pullback in public spending could temper overall economic activity.

Despite the expected fiscal tightening, Fitch said private consumption is likely to strengthen, supported by a stable cedi and sustained high gold prices.

The firm concluded that a stronger exchange rate would ease inflationary pressures, improve household purchasing power, and support consumer spending in the near term.

MA

How social engineering hacks your mind and your bank account

By Philemon Yang, President, United Nations General Assembly

Accra, June 23, GNA – Eighty years ago this month, the Charter of the United Nations was signed in San Francisco, turning the page on decades of war and offering hope for a better future. For 80 years the United Nations has stood as the highest expression of our hopes for international cooperation, and as the fullest embodiment of our aspiration to end the “scourge of war.” Even in a world steeped in cynicism, this is a milestone worth acknowledging. 

The United Nations remains the only organisation of its kind, and the only one to have endured for so long. That longevity is remarkable when we consider the context of its founding: assembled from the rubble of not one, but two global cataclysms. Its predecessor, the League of Nations, had collapsed in disgrace. 

No organisation is flawless. But to paraphrase the second Secretary-General, Dag Hammarskjöld: the United Nations was created not to take humanity to heaven but to save us from hell. In that mission, it has not failed. 

We continue to witness heart-wrenching scenes of war—in Gaza, Sudan, Ukraine and elsewhere. The recent escalation between Iran and Israel is a stark reminder of the fragility of peace  particularly in the tension-prone Middle East region.  

Yet amid the violence, we have managed to avert a third global war. In a nuclear age, that is an achievement we can never take for granted. It is one we must preserve with the full force of our efforts.  

Over the past eight decades, much of human development also bears the direct imprint of the United Nations. Consider the success of the Millennium Development Goals, adopted in 2000 by 189 Member States and more than 20 international organisations, which  gave the world a shared roadmap for action.  

By 2015, compared to 1990, extreme poverty was more than halved. Child mortality had fallen by nearly 50 percent. And millions of children — especially girls who had long been denied the right — had entered school for the first time. 

Now, as we strive to achieve the Sustainable Development Goals, we must build on that legacy of progress. We must continue efforts to eradicate poverty and hunger, achieve universal health coverage and produce and consume sustainably. 

There is another story of progress, often overlooked: the dismantling of empire. Eighty years ago, colonialism cast its shadow over much of the world. Today, more than 80 former colonies across Asia, Africa, the Caribbean, and the Pacific have gained independence and joined the United Nations. That transition, supported and legitimised by this Organisation, reshaped the global order. It was a triumph of self-determination, a profound affirmation of the Charter’s most fundamental principle: the sovereign equality of all States. 

Evolving for the future 

The world has changed dramatically since 1945. Today, the Organisation faces a deepening liquidity crisis. Despite the promise of the 2030 Agenda for Sustainable Development, progress has been uneven. Gender equality continues to elude us. Our pledge to limit global temperature rise and protect our planet is slipping beyond reach.  

These setbacks do not warrant diminished ambition but greater resolve. The United Nations has always shown its worth in times of crisis. Its founders had witnessed humanity at its most destructive and responded not with despair, but with boldness. We must draw on these achievements. 

The spirit of San Francisco was not utopian. It was grounded in a sober understanding of what was at stake. It held that, even amid deep division, nations could still choose cooperation over conflict and action over apathy.  

We saw that spirit last September, when world leaders gathered in New York for the Summit of the Future. After difficult negotiations, they adopted the Pact for the Future and its annexes—the Declaration on Future Generations and the Global Digital Compact—by consensus. In doing so, they pledged to renew multilateralism for a world more complex, connected, and fragile than the one imagined in 1945. 

That spirit endures today. It lives in the resolve of 193 Member States, in the integrity of international civil servants, and in the quiet determination of those who believe firmly in the promise of the Charter. It is carried forward by the Secretary-General’s UN80 initiative, which calls on us to deliver better for humanity; and to look to the future with adaptability and hope. 

As we mark this anniversary, we must rekindle the call for unity and solidarity that rang out from San Francisco 80 years ago.  

We built a world order once, in the ruins of war. We did so with vision and urgency. Now, again, we find ourselves at a moment of consequence. The risks are high. So too is our capacity to act.  

H.E. Mr. Philemon Yang, President of the 79^th session of the UN General Assembly 

Chinese Ambassador to Ghana, Tong Defa

Africa’s trade with China has reached a record high of US$134billion in the first five months of 2025, representing a 12.4 percent year-on-year growth, Chinese Ambassador to Ghana, Tong Defa, has disclosed.

Speaking during a media briefing at his residence in Accra on Wednesday, June 19, Mr. Tong said the performance marked the highest trade volume ever recorded during that period and reaffirmed China’s position as Africa’s largest trading partner for 16 consecutive years.

“In the first five months of this year, China’s imports and exports with Africa reached RMB 963 billion (approximately US$134billion), up by 12.4 percent year-on-year, hitting a record high for the same period of the year in history. This strong growth trajectory reflects deepening cooperation and mutual trust between China and African countries,” he said.

According to the ambassador, China has also invested over US$1.85billion in Africa and provided more than US$21billion in funding since the Forum on China-Africa Cooperation (FOCAC) Beijing Summit last year, bringing total financial support so far to US$22.85billion.

These figures represent ongoing implementation of development pledges and strategic partnerships outlined during the high-level forum.

Available data shows that trade between China and Africa surged from US$10.5billion in 2000 to US$282.1billion in 2023, and China’s investment in Africa has grown from less than US$500million to over US$40billion.

Cooperation

Mr. Tong was updating the media on outcomes from the ministerial meeting and follow-up actions of the FOCAC and the Fourth China-Africa Economic and Trade Expo, both held in Changsha, Hunan Province from June 11 to 15, 2025.

The Expo, attended by nearly 5,000 enterprises and over 30,000 participants from Africa and China, culminated in US$11.39billion worth of signed deals, Mr. Tong said. Notably, over US$50billion in contracts have been signed across the four editions of the expo, with 83 percent already fulfilled.

Three major outcome documents were released during the Changsha meetings: the China-Africa Changsha Declaration on upholding solidarity and cooperation of the Global South, the list of outcomes of the follow-up action of the Beijing summit, and the concept paper of the 2026 China-Africa year of people-to-people exchanges.

Ghana’s participation

Minister for Foreign Affairs and Regional Integration, Samuel Okudzeto Ablakwa, led a delegation to attend both the ministerial meeting and the expo.

According to the ambassador, Mr. Ablakwa held bilateral talks with Chinese Foreign Minister Wang Yi; and the two countries reaffirmed their strategic partnership, first announced in 2023, and expressed commitment to deepening cooperation across sectors, including trade, infrastructure and technology.

Reinforcing Ghana’s interest in green and digital innovation, the Minister for Trade, Agribusiness & Industry, Elizabeth Ofosu-Adjare, also participated in the expo and signed a Memorandum of Understanding (MoU) with a Chinese Electric Vehicle (EV) company.

The ambassador described the move as “good news for Ghana”, suggesting it could boost the country’s clean energy transition and industrial development.

Taiwan issue

In addition to trade and investment matters, the ambassador addressed China’s long-standing position on the Taiwan question, calling it a matter of sovereignty and historical justice.

He underscored the importance of UN General Assembly Resolution 2758, which recognised the People’s Republic of China (PRC) as the sole legal representative of China in the UN and affirmed that Taiwan is an inalienable part of China.

“China expresses its heartfelt gratitude to the Ghanaian people for the consistent support of our reunification efforts and opposition to any form of national division,” Mr. Tong said.

He reaffirmed China’s commitment to joint development, South-South solidarity and building a shared future with African countries.

The mangled motorbike

A RIDER in Kumasi has sustained body injuries and has been hospitalised after he rammed his speeding motorbike into a stationary police patrol vehicle.

Some officers of the Ashanti SWAT patrol team had reportedly parked their service car at a vantage point at Asokwa road to monitor the movement of a certain vehicle.

From nowhere Iddi Kamal Mohammed, who was in charge of a Honda motorbike, registered M-24-AW 7341, surprisingly rode into the stationary police vehicle in a dangerous manner.

The Asokwa police said the rider sustained injuries after the crash, and was rushed to the Emergency Unit at the Komfo Anokye Teaching Hospital (KATH), where he was admitted.

“On 19/06/25 at 1540 hours, Supt/Mr Opoku Agyemang Prempeh in charge SWAT/ ASH patrol team on board s/vehicle No GP 4702, driven by Const Moro Ali, brought in Honda motorbike no M-24-AW 7341 to Asokwa Police Station.

“He reported that about 1500 hours, while patrolling, the s/vehicle was stopped on a pavement in front of AG’S Timber Ltd, Kaase, to observe the movement of a certain vehicle.

“Not quite long, suspect rider Iddi Kamal Mohammed, age about 25 years, who was riding the aforementioned motorbike from Kaase Guinness towards Bost, veered off the road and hit the police vehicle,” the report stated.

Kamal Mohammed, the police said, sustained injuries and was “rushed to KATH Emergency Unit, Kumasi, for medical attention and was admitted. He has been visited, and he is responding to treatment.”

The accident motorcycle has since been impounded at the station for testing by a DVLA technical officer, the police report said, adding, “The s/vehicle was not damaged.”

FROM I.F. Joe Awuah, Kumasi

 As part of its re­solve to empow­ering vulnerable communities to eradicate poverty, hunger and diseases, an international non-gov­ernmental organisation, World Vision Ghana, has implemented several life-changing initiatives in communities in the Kassena-Nan­kana West District (KNWD) of the Upper East Region.

The socio-economic livelihoods, executed under the European Union (EU) Landscapes and Environmental Agility across the Nation (LEAN) project, targeted over 2,000 women and men in 25 beneficiary communities.

It implemented various inter­ventions which included income diversification, small ruminants, skills training, including soap mak­ing, and growing of seedlings; all under the livelihood improvement of smallholders’ farmers, and the increase forest protection and climate resilience.

“The project, commenced in 2021, has trained and supported 150 farmers, including persons with disabilities with 300 small ruminants for rearing.

” Under the Savings for Trans­formation (S4T) module, about 60 groups (25 each), have been able to raise GH¢1 million after receiv­ing various capacity building train­ings, such as leadership dynamics, financial literacy, entrepreneur­ship, and business development,” disclosed Joseph Abugri Talata, Programme Officer, World Vision Ghana, during an assessment tour of the beneficiary communities last Monday.

World Vision and its partners, with support from the EU LEAN project, he said was committed to seeing to it that a lot of vulnera­ble persons, particularly women, heaved a sigh of relief in their ‘sorry’ living conditions by engag­ing in savings to secure a good future.

As part of the project inter­vention in providing alternative livelihood opportunities for small­holder farmers and households, he indicated the beneficiaries after receiving the training were gifted “saving tool kits”.

A member of the S4T group at Kadognia, a suburb of Chiana in the Kassena-Nankana West Dis­trict, Felicia Aworigo, said but for the project, her child would have dropped out of school.

“Every year, I can borrow up to two times or more from our “Susu group” to pay my child’s school fees. My husband doesn’t have a better job, thus hitherto, our child’s education was always interrupted”, she indicated, while testifying the impact of the EU LEAN project, a four-year project implemented by the World Vision in two districts in the north.

Cletus Danlugu Awekomba, a teacher and member of the Kado­gnia S4T group, said the module did not only help members of the community to break the poverty cycle, but had helped strengthen social cohesion amongst the folks.

He brought to the fore that: “See, I can tell you that a lot of people who were embroiled in a long-standing friction have united to pursue a common cause, thanks to the S4T module of the EU LEAN project. The more the members converge at the meeting venue to discuss issues on the ‘Susu’, the more they interact, thus seeing it necessary to forgive one another”.

Mrs Benedicta Wugaa, a weaver madam from Banyono, said her life had been transformed tremendously after World Vision International intervened to secure a brand new machine (loom) and other materials under the liveli­hood improvement module of the project.

Meanwhile, about 20 farmers have been trained and supported to establish four nurseries in the district, with logistics to raise more desirable and indigenous free seedlings, such as baobab, mango, mahogany, shea, rosewood, and a host of others.

Mr Talata told the media that the Landscape Management Board (LMB) had been established, with a seven-person executive council manning it.

The Robert Dampare-led board, he noted, was charged with the re­sponsibility of undertaking mon­itoring of project interventions across the 25 beneficiary com­munities, “and as you have heard from the beneficiaries themselves, the contribution of the board members towards the successful implementation of the project has been invaluable, incredible to say the least”.

 FROM FRANCIS DABRE DABANG, CHIANA

Tema Oil Refinery was shut down in 2021 due to a lack of crude oil

The Acting Managing Director of the Tema Oil Refinery (TOR), Edmund Kombat, has disclosed that the facility will resume operations in October 2025.

According to him, the move is aimed at reducing Ghana’s dependence on imported refined petroleum products.

Appearing before Parliament’s Energy Committee, Kombat pointed out that the country currently spends approximately US$400 million monthly on fuel imports, and the revival of TOR could lead to substantial savings.

“We spend $400 million every month importing refined petroleum products. When TOR is running, we will need less than 60% of that money to import refined petroleum products,” he said.

He added that; “Based on the timeline we are working with, between September and October, we should have the CDU [Crude Distillation Unit] back on stream.”

TOR was shut down in 2021 due to a lack of crude oil, the key raw material for refining.

Kombat noted that the refinery now has the capacity to process up to 60,000 barrels daily, which could meet between 45% and 60% of the country’s local fuel demand.

Meanwhile, a Turnaround Maintenance Committee supervised by the Deputy Managing Director, has been established to oversee and ensure the full restoration of the refinery.

SA/MA

How social engineering hacks your mind and your bank account

Duayaw Nkwanta (A/R), June 23, GNA – Healthcare delivery in the Tano North Municipality has received a boost following the donation of medical equipment and consumables valued at GH₵3.4 million by Newmont Ghana Gold Limited and Project C.U.R.E.

According to a press release issued by Newmont to the Ghana News Agency, the donation is expected to improve access to quality care and enhance service delivery at three beneficiary facilities: the Yamfo Health Centre, Susuanso CHPS Compound, and the St. John of God Hospital at Duayaw Nkwanta.

The medical supplies include surgical instrument kits, birthing supplies, thermometers, portable power transformers, and wheelchairs, all targeted at improving maternal care, emergency response, and general outpatient services.

At a brief handover ceremony, the Acting Head of the Duayaw Nkwanta Traditional Council, Nana Boakye Bonsu, commended the gesture and said it would greatly enhance patient care and restore confidence in the health system.

“The support will go a long way in improving the quality of care our people receive. We commend Newmont and Project C.U.R.E. (an international NGO) for this excellent gesture,” he said.

The Ahafo Regional Minister, Madam Charity Gardiner, also praised the donation, describing Newmont as a trusted partner in the region’s development efforts.

She expressed hope that such collaborations would be sustained to address gaps in critical sectors such as healthcare.

The release said the donation formed part of a broader partnership between Newmont and Project C.U.R.E. aimed at improving health outcomes in host communities.

In 2024, the two institutions jointly supported more than  2,000 residents in Ahafo and Akyem with health screening and treatment services.

 They also facilitated a ‘Helping Babies Survive’ training programme for frontline health workers.

Community members have already begun to experience the impact.

 A resident of Susuanso, who did not want to be identified, said the newly supplied items had reduced waiting time and improved service delivery at the local CHPS compound.

The release stated that the initiative aligned with Newmont’s commitment to creating shared value and improving lives through responsible and sustainable mining practices.

GNA

Edited by Beatrice Asamani Savage

A group of trained but unposted Environmental Health Officers and Assistants is appealing to the government for immediate financial clearance and recruitment to support Ghana’s ongoing sanitation efforts.

The call follows President John Dramani Mahama’s recent directive to Metropolitan, Municipal, and District Chief Executives (MMDCEs) to establish district sanitation task forces and mobilise communities for the enforcement of sanitation laws and the organisation of clean-up campaigns.

In a statement, the group commended the President’s renewed focus on sanitation but raised concerns about the effectiveness of these initiatives amid the continued unemployment of more than 3,600 graduates from the country’s three Schools of Hygiene — Accra, Ho, and Tamale — since 2021.

“These directives are commendable, but without adequate staffing, they cannot be effectively implemented,” the group noted.

They emphasised that Environmental Health Officers are the only licensed professionals mandated to enforce sanitation regulations, yet four cohorts of trained officers have remained unemployed for over four years.

The group is urging key stakeholders — including the Ministry of Local Government, Decentralisation and Rural Development; the Ministry of Health; the Ministry of Finance; and Parliament’s Select Committee on Water and Sanitation — to urgently prioritise their recruitment.

They also called on regional ministers, MMDCEs, traditional leaders, and faith-based institutions to support their plea, stressing the essential role Environmental Health Officers play in disease prevention and public health promotion.

“We stand ready to serve and help prevent sanitation-related disease outbreaks,” the statement said.

“All we need is the opportunity to contribute meaningfully to building a cleaner, safer Ghana.”

Presbyterian Moderator urges action on Bawku conflict, decries ‘cosmetic’ measures

By Louis Gyimah

Global Economic Transformation

In the mid-2020s, the world economy continues to demonstrate unprecedented complexity, interdependency, and velocity. The fragility of global economic systems was highlighted by the COVID-19 pandemic and subsequent supply chain disruptions, which disproportionately affected emerging economies. While developed nations deployed massive stimulus packages, African nations had limited fiscal space to respond. Ghana’s pandemic response required a $1 billion IMF Rapid Credit Facility in 2020, illustrating the interconnected challenges facing emerging economies.

The existing multilateral institutions still struggle to adapt to rapidly shifting power dynamics. The African Continental Free Trade Area (AfCFTA), headquartered in Accra, Ghana, represents a direct response to the limitations of global trade governance. As WTO negotiations remain stalled, Africa has taken regional integration into its own hands, creating the world’s largest free trade area by number of participating countries.

The pace of economic transformation in Africa also mirrors historical patterns seen in Asia. While the UK took 154 years to double its GDP from $1,300 (PPP), China accomplished this in just 12 years. Ghana’s economy, following oil discoveries and production beginning in 2010, doubled its GDP per capita in 16 years (2006-2022), demonstrating a similar acceleration pattern.

The Rising Importance of African Markets

Africa’s economic prospects have evolved dramatically since the original “Africa Rising” narrative of the early 2010s. While developed economies face structural challenges including aging populations and high debt levels, several African economies continue to demonstrate resilience. According to the African Development Bank’s 2024 African Economic Outlook, East Africa remains the continent’s fastest-growing region, though West Africa (including Ghana) has shown impressive recovery from recent global shocks.

Ghana exemplifies both the opportunities and challenges facing African economies. Following its 2022 debt crisis and subsequent IMF program, Ghana has implemented significant fiscal and monetary reforms. Despite these difficulties, Ghana’s long-term economic fundamentals remain strong, with the World Bank projecting 4.8% growth in 2025 as inflation moderates and macroeconomic stability returns.

Africa’s common challenges persist: uneven regional development (Ghana’s northern regions remain significantly poorer than coastal areas); inequality (Ghana’s Gini coefficient stands at 43.5%); infrastructure gaps (Ghana faces an annual infrastructure financing gap of approximately $1.5 billion); and weak public governance (though Ghana ranks higher than regional averages in transparency indexes). However, these challenges increasingly coexist with vibrant innovation ecosystems and digital transformation.

Business Opportunities in Africa: Ghana’s Position

Africa’s diversity remains its defining characteristic, with 54 countries at varying development stages. Ghana occupies a strategic middle ground – neither the continent’s largest economy (Nigeria) nor its most advanced (South Africa, Mauritius), but a stable democracy with relatively strong institutions that has positioned itself as West Africa’s business and diplomatic hub.

The perception of Africa as primarily resource-driven is becoming outdated. While natural resources and agriculture contribute significantly to Ghana’s economy (gold, cocoa, and oil account for over 80% of export revenues), the services sector now constitutes approximately 47% of Ghana’s GDP. Financial services, telecommunications, and retail have shown particular dynamism, with mobile money transactions in Ghana reaching 978.3 billion cedis (approximately $71.4 billion) in 2023 according to Bank of Ghana data.

Africa’s consumer market continues to evolve rapidly. Ghana’s middle class has expanded to approximately 29% of the population according to AfDB definitions, though recent economic challenges have placed pressure on household purchasing power. The digital transformation has accelerated dramatically, with Ghana’s mobile penetration exceeding 140% (multiple SIM ownership is common) and internet penetration reaching 59% in 2023 according to the Ghana Statistical Service.

The payment landscape exemplifies Africa’s technological leapfrogging. Ghana’s interoperability framework, which allows seamless transfers between mobile money providers and traditional bank accounts, processes over 5 million daily transactions. The Ghana.gov payment platform has digitized 90% of government services payments, reducing corruption opportunities and improving efficiency.

Navigating Business Challenges in Ghana and Africa

The business environment in Ghana and broader Africa remains complex though significantly improved. Contract enforcement challenges persist, with commercial cases in Ghana’s courts taking an average of 710 days according to World Bank data. Infrastructure gaps, particularly in electricity reliability and transportation networks, increase operating costs. The African Continental Free Trade Area (AfCFTA) Secretariat’s presence in Accra symbolizes Ghana’s commitment to addressing these regional challenges through integration.

Workforce development shows mixed progress. Ghana’s education system produces over 100,000 tertiary graduates annually, but employers report skills mismatches. The government’s “Year of Skills” initiative in 2023 and TVET (Technical and Vocational Education and Training) investments aim to address these gaps, particularly in sectors like manufacturing and information technology.

For entrepreneurs, access to finance remains challenging with lending rates in Ghana exceeding 30% in 2023 despite policy efforts. However, the venture capital ecosystem has developed significantly, with Ghanaian startups raising $40 million in 2023 according to Africa: The Big Deal, a platform tracking African VC investments.

Despite these challenges, success stories abound. Fan Milk (part of Danone) has operated profitably in Ghana for over 60 years, with a nationwide distribution network reaching the smallest communities. Ghana’s indigenous Kasapreko Company has transformed from a small spirits producer to a beverage conglomerate competing effectively against multinationals across West Africa.

Understanding local consumer preferences remains crucial. Jumia, often described as “Africa’s Amazon,” struggled until it adapted its business model to local payment preferences, integrating mobile money and cash-on-delivery options. Similarly, Max.ng, a Nigerian mobility company that expanded to Ghana, modified its offering to accommodate local transportation patterns and regulatory requirements.

Strategic Approaches for Emerging Markets

Ghana’s position between larger markets (Nigeria) and smaller neighbors (Togo, Burkina Faso, Côte d’Ivoire) offers strategic advantages. Many companies use Ghana as a regional hub, taking advantage of its relative political stability, stronger institutions, and English-language advantage. For example, Google established its first Africa AI research center in Accra, reflecting this strategic positioning.

Companies succeeding in Ghana often adopt tiered approaches that recognize income disparities. Fan Milk offers products at multiple price points, from premium ice cream in urban supermarkets to small single-serve frozen yogurt sachets sold by street vendors. Similarly, telecommunications provider MTN offers service packages ranging from basic USSD feature-phone offerings to advanced smartphone plans.

“Glocalization” is increasingly essential. KFC has expanded to over 20 locations in Ghana by balancing its global brand with local adaptations, including jollof rice sides and chili pepper options calibrated to Ghanaian tastes. Guinness produces locally-inspired variations like its Ghana-specific Guinness Smooth, which is tailored to local preferences while maintaining brand recognition.

Innovation increasingly flows from Africa to global markets. Ghana’s fintech innovations in mobile money have influenced global payment systems. M-KOPA, which pioneered the pay-as-you-go solar model in Kenya, has successfully expanded to Ghana by adapting its offering to local energy needs and payment behaviors, and its model is now being studied globally for financing climate-friendly technologies.

Ghana’s Strategic Sectors

Several sectors demonstrate particular promise in Ghana’s economy:

Digital Economy: Ghana’s digital ecosystem has matured significantly, with the government’s Digital Ghana Agenda driving transformation. Mobile money users exceed 19 million, creating opportunities for embedded financial services. Indigenous fintechs like Zeepay and IT Consortium have expanded regionally, while international players like Flutterwave have established significant operations in Ghana.

Agriculture and Food Processing: Ghana’s cocoa sector remains strategically important, with the Ghana Cocoa Board implementing a $600 million productivity enhancement program. However, value addition is increasingly emphasized, with local processing by both multinationals (Barry Callebaut) and local companies (Niche Cocoa). Beyond cocoa, commercial agriculture has expanded in Ghana’s northern regions, with companies like Wienco and RMG Concept developing integrated models including financing, inputs, and guaranteed markets for smallholders.

Renewable Energy: Ghana aims to achieve 10% renewable energy in its mix by 2030. The Bui Power Authority has complemented its hydroelectric dam with Ghana’s largest solar installation (50MW), with plans to expand to 250MW. Private developers like Axcon Energy and electricity distributor ECG have partnered on additional solar projects, while companies like PEG Africa have developed successful pay-as-you-go solar home systems for off-grid communities.

Manufacturing: Ghana’s ambition to become a manufacturing hub faces challenges from high electricity costs and regional competition, but strategic subsectors are emerging. Volkswagen established an assembly operation in 2020, while pharmaceutical manufacturing has grown with companies like Ernest Chemists and Tobinco expanding production capacity to serve both domestic and regional markets under AfCFTA.

Conclusion

Ghana exemplifies Africa’s complex but promising economic landscape. While challenges remain in infrastructure, governance, and economic stability, significant opportunities exist for companies that develop nuanced, market-specific strategies. Success requires understanding local contexts, leveraging Ghana’s increasingly educated workforce and growing digital ecosystem, and positioning for regional opportunities through AfCFTA.

Companies entering Ghana benefit from a relatively stable political environment and improving business climate, with the Ghana Investment Promotion Centre serving as a one-stop shop for investors. As President Akufo-Addo’s “Ghana Beyond Aid” vision indicates, the country seeks partners rather than patrons, emphasizing mutually beneficial relationships over traditional aid models.

The opportunities in Ghana and broader Africa demand approaches that balance short-term adaptability with long-term commitment. Those who engage meaningfully with local partners, develop Ghana-specific strategies while leveraging regional opportunities, and embrace the continent’s dynamic transformation will find substantial returns on their investments in what remains the world’s last major growth frontier.

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