eBizGuides Ghana by eBizGuides

Republic of Ghana

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HOW TO USE THIS GUIDE

The goal of eBiz Guides is to offer extensive economic and investment information on a country, with a focus on the top companies, while offering the best tourism and entertainment information for your spare time. With this, we believe that our readers can get fully acquainted with the country before investing in it long-term. This book comprises three major sections, which deal with general information, the countryâ&#x20AC;&#x2122;s economy and

entertainment and leisure.

General Information Background information on the country is coupled with the main business resources available to you. Business This section of the book starts off with the main resources available for you as well as an in-depth look at the countryâ&#x20AC;&#x2122;s investment and legal framework and the countryâ&#x20AC;&#x2122;s economy itself. Through personal interviews with the most important business people in the country, we then provide our readers with privileged information and sector analysis, including introductions written by key decision-makers in the sector, such as government ministers. You will also find fact files for all the major corporations, outlining their business activities, key projects and any investment opportunities.

Icons

eBiz Recommended These companies were particular favourites of our team during their stay; this stamp is mostly given to restaurants, hotels and so on.

eBiz Recommended Partner Our team has been interviewing the heads of many companies; when they choose to allocate this stamp to a company, it is because they themselves have received reliable service from the company. Proverbs These local phrases will help you to understand better the popular culture in the country. Perhaps you can use them yourself.

Entertainment/ Leisure For you to fall in love with the country, we also showcase the best spots to visit, essential areas to discover, the top hotels and restaurants and much more.

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Fort Metal Cross

INDEX INTRODUCTION Map and Country Profile

General Information

Did you know?

Vocabulary

BUSINESS 24 25

Investment and Legal Framework

The Ghanaian Economy

Finance

Energy

Industry and Trade

Real Estate and Construction

ICTs and Media Companies

Transport

Tourism Industry

Public Services

Agriculture

I NDEX

Top Companies Business Resources

Company Index

105

ENTERTAINMENT Overview

106

Accra

109

Bolgatanga

116

Kumasi

117

Day Trips

118

Travel Agents & Tour Operators

118

MAP

BURKINA FASSO Bolgatanga

BENIN

Kelp

Tamale

B Vo lac lta k

CÔTE D’IVOIRE Bui

GHANA

Toin

Pru

Sunyani

TOGO

Mole

hi te

Vo l

Lake Volta Digya

Afr a

Kumasi

Ho rim

0 25 50 75 100 km 0

75ml

Pra

Ank obr

Cape Coast Sekondi-Takoradi

Koforidua

ACCRA

LOMÉ

Capital City City

GULF OF GUINEA

Town Roads National Park Mountain

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COUNTRY PROFILE

Official name Republic of Ghana Capital Accra Main towns Kumasi, Tamale, Takoradi, Ashiaman, Tema Population 23.9 million Area 238,533 km2 Religion Christian 68.8%, Muslim 15.9%, traditional 8.5%, other 0.7%, none 6.1% Languages Asante 14.8%, Ewe 12.7%, Fante 9.9%, Boron (Brong) 4.6%, Dagomba 4.3%, Dangme 4.3%, Dagarte (Dagaba) 3.7%, Akyem 3.4%, Ga 3.4%, Akuapem 2.9%, other 36.1% (includes English (official language)) GDP USD$37.707 billion GDP per capita USD$1,591.1 Currency Cedi (GHS) 1 USD = 1.435 GHS, 1 EUR = 2.013 GHS Government system Constitutional democracy Time GMT Climate Tropical climate, interaction of dry continental airmass from the northeast, hot and dry climate in the north, and moist in the southwest. Along the eastern coast, the climate is warm and comparatively dry. Annual average temperature varies from 26Â°C to 29Â°C and annual rainfall from 830 to 2200 mm (33 - 87 in). International airports Kotoka International Airport Telephone code +233

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Osu, District of Accra

GENERAL INFORMATION

A child breaks the shell of the snail but not that of the tortoise Ghanaian proverb

General Information INTRODUCTION

History

From the north savannah to the rain forests, down to the coast, a variety of landscapes exalts stunned gazes from a variety of nationalities. The welcoming, stable and warm country of Ghana invites people to follow unbeaten paths.

On March 6, 1957 Ghana was the first African country to gain its independence from British Colonial rule. In 1960, Kwame Nkrumah, supporter of the Commonwealth and the Non-Aligned movement, became the first president of Sub-Saharan Republic of Ghana.

Some visitors to Ghana come to discover the slave routes and visit slave dungeons in the castles and forts along the coast. Others come to explore investment opportunities in gold and diamond mining, while some come for timber and other wood products, or cocoa. Many still come to see the rich culture of festivals and the tranquil setting of the countryside. Ghana has remained stable throughout the past twenty-two years. The first nine years after its independence, in 1957, were also stable but the years from 1966 to 1981 were marred with coups and political instability. Even though Ghana was under military rule from 1981 to 1992, the country was stable and peaceful. Since 1992, there have been three general elections in the country. In the 2000 elections, political power was transferred from the then ruling party to the opposition (The New Patriotic Party), for the first time in Ghanaâ&#x20AC;&#x2122;s history. After three attempts, ex-law teacher John Atta Mills, member of the National Democratic Party, got elected president in December 2008. Mills often describes himself as a Social Democrat who has been inspired by the social welfare ideas of first president after independence, Kwame Nkrumah. The focus is now on building infrastructure for sustained economic growth and development. The joint border posts linking Ghana with Togo, Burkina Faso and the Ivory Coast under construction will accelerate the ECOWAS process, which is meant to improve the economic advantages of its members through the free movement of persons, goods and services. Telephone coverage and Internet service is increasing, as well as access to air and seaport transport services. From the crocodile pond in the north, waterfalls in the east, mines in the centre and west, and to the slave castles in the south, there is a lot to see and vast business opportunities to seize in Ghana.

As a colony, the country was known as the Gold Coast, a name that was given by the early Portuguese explorers who initially set foot on the shores of the country during the 15th century to describe the countryâ&#x20AC;&#x2122;s wealth in gold and natural resources. At different periods, from the time the Portuguese discovered gold in Ghana in 1471 to independence in 1957, monarchs from several European Kingdoms, notably Denmark, England, Holland, Russia and Sweden, sent hordes of explorers and merchants to the country for its abundant resources, both natural and human. They battled for control over the land and as a result, built forts and castles, which also served as trading ports. The fact that 29 of the 32 European colonial forts and castles along the West African Coast are in Ghana illustrates the extent to which European Colonial presence was in the country. In more recent years, Ghana has also experienced some turmoil, having its fourth coup in 15 years. Power was seized by Flt. Lt. Jerry John Rawlings. Under the Rawlings administration, parliament was dissolved, the constitution was abolished, and all political parties were banned, and in their place a Provisional National Defence Council (PNDC) was installed. Due to international and domestic pressure for a return to democracy, the PNDC allowed the establishment of a 258 members Consultative Assembly made up of members representing geographic districts, as well as established civic or business organizations. The assembly was put in charge of drawing up a draft constitution to establish a fourth republic, using PNDC proposals. The PNDC accepted the final draft without revision, and it was put to a national referendum on April 28, 1992, and received 92% approval. On May 1992, the ban on political parties was lifted in preparation for multi-party elections. The PNDC and its supporters formed a new party, the National Democratic Congress (NDC), to participate in the elections. Presidential elections were held on November 3 and parliamentary elections on December 29 of that year. Members of the opposition boycotted the parliamentary elections, which resulted in a 200 seat Parliament with only 17 opposition party members and two independents.

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General Information

The Constitution became official on January 7th 1993 and the Fourth Republic was founded. On that day, Flt. Lt. Jerry John Rawlings was installed as President, and members of Parliament were sworn into office. In 1996, the opposition fully participated in presidential and parliamentary elections, which were described as peaceful, free, and transparent by domestic and international observers. In that election, President Rawlings was re-elected with 57% of the popular vote. In addition, Rawlings’ NDC party won 133 of the Parliament 200 seats, just one seat short of the two-thirds majority needed to amend the Constitution. In the December 2000 elections, John A. Kufuor of the New Patriotic Party (NPP), won the largest share of the presidential vote with 48.17%, compared to 44.54% for Rawlings vice-president and handpicked successor, John Atta Mills of the NDC. The NPP also won 100 of the 200 seats in Parliament. The NDC won 92 seats, while independent and small party candidates won eight seats. In the December 28 run-off election, with pledges of support from the other five opposition parties, Kufuor defeated Mills by winning 56.73% of vote and the NPP picked up one additional MP by winning a by-election, giving them 101 seats and a majority in Parliament. Both rounds of the election were observed, and declared free and fair by a large contingent of domestic and international monitors. President Kufuor was sworn into office on January 7, 2001, becoming the first elected president in Ghana’s history to succeed another elected president. In December 2008, John Atta Mills, member of the social democratic party, was finally elected president with 50.23% of vote. In Ghana, the president is both the Chief of State and the Head of Government.

In ev’ry need, whate’er the call may be, To serve thee, Ghana, now and evermore. Raise high the flag of Ghana And one with Africa advance; Black star of hope and honour To all who thirst for liberty; Where the banner of Ghana freely flies, May the way to freedom truly lie; Arise, arise, O sons of Ghanaland, And under God march on for evermore!

Flag

While Ghana was a member of the Union of African State between 1958 and 1962, its flag used to include two and then three stars. The two other stars, which have now disappeared, represented Guinea and Mali, as the two other members of the union. Green, yellow and red are known as the panAfrican colours and are used in a number of African flags as representing the bloodshed for liberation, the gold and the natural resources of Africa.

Coat of Arms

National Symbols The National Anthem

God bless our homeland Ghana And make our nation great and strong, Bold to defend forever The cause of Freedom and of Right; Fill our hearts with true humility, Make us cherish fearless honesty, And help us to resist oppressors’ rule With all our will and might for evermore. Hail to thy name, O Ghana, To thee we make our solemn vow: Steadfast to build together A nation strong in Unity; With our gifts of mind and strength of arm, Whether night or day, in the midst of storm,

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Two days before Independence, the National Emblem was created by Ghanaian Mr. Amon Kotei and officially inaugurated by Queen Elizabeth II. Two fearsome golden eagles adorned with the colours of Ghana and the African black star of liberty appear

General Information

as protectors of the country and hold a blue shield. This one is divided into four parts by St. George’s Cross, which contains a Golden Lion indicating Ghana’s close relationship to the Commonwealth and to the United Kingdom of Great Britain and Northern Ireland, Ghana’s then colonial ruler. The linguists’ staff crossed with the sword on the top left and the heraldic castle on the top right represent the local administration and the national government respectively. On the bottom, the cocoa tree represents the agricultural wealth of the country, while the mine shaft stands for its mineral richness. The motto “Freedom and Justice” under the shield appears as the national aspirations.

Government Structure Ghana’s government is a multiparty parliamentary democracy which constitution divides powers between among a President, Parliament, Cabinet, Council of State, and an independent judiciary. The president is elected through suffrage for a four-year term that can be renewed a maximum of two times. President John Evans Atta Mills explains that the government’s priority is creating a “Better Ghana through a transformed and prosperous nation providing opportunities for a better life for all Ghanaians.” Under this policy, Dr. Kwabena Duffuor, Minister of Finance and Economy, names the major objective of the economic 2010 fiscal year to be growth and stability. He particularly underlines

the importance of “stabilizing the economy and preventing run-away inflation” and in that way, “ensure equity in the distribution of the nation’s wealth and not concentrate wealth in the hands of a few.” Dr. Duffuor states three tools to develop growth and stability: • Sustenance of the macroeconomic stability and fiscal discipline achieved in 2009; • Positioning the country for a sustained growth through the modernization of agriculture, provision of key infrastructure development, oil and gas projects, private sector development, ICT; • Delivery of social programs targeted at poverty reduction. In his “Budget Statement and Economic Policy for Fiscal Year 2010,” the Minister of Finance and Economic points out a number of sectors that are to be carefully managed.

Oil and Gas Industry The government works to ensure the long-length exploitation of these natural resources, so that it would accelerate the growth of manufacturing and other sectors that have been left out until now, and in that way contribute to a rapid and sustainable growth of the economy.

Modernizing Agriculture The main objective is to increase productivity, improve food security and reduce foreign food imports, by boosting the crops of pineapple, mangos, soya beans, etc. through larger public and private commercial farming.

Cocoa Processing The government is determined to implement the cocoa processing program CALF cocoa which would contribute to the economic growth of the country.

Private Sector Development Policy programs, incentives and legal and social framework are to be developed as well as appropriate training and competence. The focus will particularly be on small and medium enterprises.

Conference Centre in Accra

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General Information

Provision of Road and Rail Infrastructure

National Greening Program

President Mills just inaugurated the new AccraAsoprochona train and reaffirmed that improving railway and roads was in the priorities in order to ensure development, productivity and employment.

A National Plantation Program approved by the government this year, in which approximately 100 District Assemblies take part, plans to expand forest cover, and as a consequence, to employ more than 51,000 people by 2011.

Water and Sanitation At the beginning of this year, the government was to start the water supply infrastructures for a number of urban places, and was willing to achieve 60% coverage of rural communities with safe and potable water, as well as the construction of storm water drainage and sanitation.

Tourism The constant growing tourism in Ghana reflects its potential for job creating and poverty reduction. Seven Tourist Receptive Centres are currently under construction to provide tourists with a big range of different services.

Petroleum The production of oil and gas from the big offshore Jubilee Field is started at the end of 2010. As for the rest, the emphasis will be put on processing infrastructures, developing other fields, local skills and companies, and on ensuring transparency in revenue. Environmental protection plans will also be enacted and Liquefied Petroleum Gas (LPG) will be ensured on a nationwide basis for minor reliance on wood fuel.

Information and Communication Technology ICT will enable to transform the Ghanaian economy into an information and knowledge based economy that will allow the e-government project to come into being and thus facilitating cross-agency collaborations, crime investigations and promoting innovative applications. Not to mention the increasing use of ICT in all sort of sectors, such as commerce, banking and agriculture, as well as in the auto-mechanic domain.

New Pension Scheme The New Pension Scheme includes an increased contribution of the government as the employer, from 12.5% to 13% of an employeeâ&#x20AC;&#x2122;s salary. Not only will this change enhance employeesâ&#x20AC;&#x2122; domestic savings, but also the whole Ghanaian economy.

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The art that is transporting bananas.

Women Empowerment Policies are to be put into place to ensure equality and equity between genders. We can witness women empowerment both in rural and urban areas, with a particular focus on poor ones.

The Judicial System Based at first on British common law, the 1992 constitution granted major autonomy to Ghanaian courts. The judiciary system, subject to that constitution but independent, is divided hierarchically

General Information

Umbrella Rock in Eastern Region

in the Supreme Courts, the Courts of Appeal and the High Courts of Justice. Beneath this circuit exist the customary courts, as well as extrajudicial institutions such as public tribunals in which citizens may participate as juries or assessors.

GEOGRAPHY Ghana in situated in Western Africa, on the border of the Gulf of Guinea in the Atlantic Ocean and between Ivory Coast on the west, Burkina Faso on the north, and Togo on the east. The country is divided between 10 administrative regions: Ashanti, Greater Accra, Brong Ahafo, Volta and the Central, Northern, Upper West, Upper East, Eastern and Western regions. Each of them has a capital and is again subdivided in a total of 138 districts. However, the country can be divided in five geographical regions according to their landscape and climate. The sandy coastline run across by several rivers contrasts with its northern counterpart,

mainly composed with high plains, while the south central and southwest Ghana are made of forested plateaus, among them the Ashanti uplands and the Kwahu Plateau. Ghana’s highest point, the 885m high Mount Afadjato, is situated in Akuapim-Togo ranges in the central east Ghana Volta Basin.

CLIMATE A few degrees north of the Equator, the 238,500 km2 of Ghana’s surface are bathed in a typical tropical climate. Day temperatures are high throughout the country, approaching or topping 30°C on most days. Temperatures drop at night but more in the dry north than in the humid south. The highlands flanking the Volta Basin are the only temperate parts of the country where temperatures can be genuinely cool after dusk. Ghana does not experience the strong seasonal changes like European countries or North America. The main seasonal factor is rain. The rainy season

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General Information

Fort Sebastian

takes place during the European summer months from April to September, peaking in June and July. The harmattan winds are another noteworthy phenomenon in Ghana. They blow from the Northeast during the dry season and bring dust from the Sahara, which can reduce visibility to as little as 1km. They generally come in late November or early December and continue until some time in March

PEOPLE AND CULTURE In 2010, the population reached 24 million inhabitants, with 60% of people between 15 and 64 years old and more than 37% under the age of 15, only leaving 3% above 65 years old. The majority of the population is concentrated in the southern and central parts of the country with the Greater Accra Region being the most densely populated, as well as cocoa production areas. On the contrary, the northern regions hold only 25% of Ghana’s population, despite covering more than 40% of the national surface area. The Ghanaian population is divided into more than 100 ethnic groups, among which the Akan ethnicity is the biggest representing almost 50% of the population, followed by the Mole-Dagbon with 15%. These people are diverse in their personality, cultural and historical backgrounds, welded effectively into a unitary state. The reason for this diversity is most likely due to the migration of ethnic groups from other places to settle on the land. The predominantly vivacious spirit of the people is clearly manifested in their music and dance, which are clearly inseparable from their daily life. The proverbial Ghanaian hospitality radiates in the welcoming smiles on the faces of the people, and their cries of “Akwabaa”, which translates as “You are welcome”.

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The moral, social and political authority of the tribal chiefs continues to be recognised by the Ghanaian government. There have been various parliamentary acts and decrees aimed at defining and guaranteeing the chief’s functions since the creation of the State of Ghana. A 1972 decree ratified the previously approved creation of a national parliament of chiefs, which heads the regional associations. As a result, the chiefs in all regions hold responsibilities at various levels: in the traditional local councils in the smaller settlements, in the regional associations and even in the national parliament. They also serve as government consultants for the revision of traditional laws. In his community, a chief enjoys the rank of importance corresponding to his personal worth. Ideally, he remains the social and political leader of his town or region and is responsible for its development and organization. Every chief is also in charge of organising the various traditional festivals in his region. These are opportunities for all the members of a community to meet and often an occasion for the reconciliation of disputes that have occurred throughout the year. Ghanaian cultural history is like a cloth woven from many multi-coloured threads forming diverse patterns, which incorporate an older traditional element originating from the indigenous West African situation, with a Mediterranean and Oriental blend as well as European and New World elements. However, pure indigenous traditions still survive as an active core in national modern lifestyle, in spite of the mixture born of dynamic historical and cultural transformations. The Ghanaian traditional culture is manifested in ideologies and concepts such as religion, philosophy, cosmology, socio-political ideology, art, as well as in media of technology. The main artwork and crafts are pottery, metal works, beadwork, weaving, basketry, leatherwork, dyeing and carving. Verbal and emotional expression is realised through songs and rhythmic throbbing of drums and percussion which lead to dance as an intertwined form of dramatic expression. Three main types of music characterize Ghana. There is the traditional or ethnic music, which is usually played during festivals and at funerals. Secondly there is the “high-life” music, which is essentially vocal music performed by dance and guitar bands during day-to-day recreational activities. The third type of music is the choral music, which is more oriented to the concert hall, the church and educational institutions.

General Information

who manufactured coffins in a variety of shapes (i.e. onions, lions, fishes) for all the burials in the Ga community. To this day, coffins continue to be made in a shape that would better represent the deceased. Death is constantly present in Gas’ life, and in that sense, no one is allowed to eat or drink without first making offerings to their ancestors. Reincarnation within the family being among the beliefs of Gas, sterility is perceived as the ultimate misfortune as it disrupts the process.

Traditional chief in Greater Accra

Festivals in Ghana have many ramifications – social, economic, religious, cultural as well as political. Basically, festivals are held to express appreciation to the deity for a good harvest and a successful year. Festivals also provide occasions for reflections and enjoyment; and they pervade almost all the traditional areas of Ghana. Some festivals are held to celebrate landmarks of tribal history – such as when the people came upon an adequate and reliable supply of water, a battle conquest, a retreat or a migration. Throughout Ghana practically every town and village comes alive with excitement at festival time. This is the proverbial hospitality of the Ghanaian at its best; visitors are often welcomed into homes to share drinks and meals and are given traditional clothes to join in the street celebrations. Parades take place to the sound of drums and traditional horns. In Ghana, like most of the rest of Africa, there are no formalised funeral services. Burial of a the deceased in animist, Moslem and Christian traditions is closely associated with ancestor worship and is the single most important community activity, taking place every Fridays and Saturdays. It is the ultimate manifestation of deep-rooted tradition. Among the Ga community, the dominant ethnic group in the region surrounding the capital Accra, a coffin making art has been developed over the last decades. It started in the 50’s with Mr. Kane Kwei, a carpenter

Prempeh 1 & a Queenmother (Ashanti)

LANGUAGES As an ex British colony, Ghana’s official language is English, but at least 75 African languages and dialects are spoken by the Ghanaian population. Most people belong to one of the Akan groups, or in other words, practically everybody in southern and central Ghana, and speak Twi as a first or second language. Other important ethnic and language groups are the Mole-Dagbani, Ewe, Ga, Gur and Kwa. They tend to have close affinities to some of the ethnic groups in the neighbouring countries: Such as the Gur with Burkina Faso and Mali, the Volta-Bandama Comoe with Ivory Coast and the Kwa with Togo. This strongly suggests that the probable historical migration of Ghanaian ethnic groups has been local.

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General Information

RELIGION Religion is deeply rooted in Ghanaian culture and plays a major role in everyday life: working, dancing, travelling, eating and drinking tend to be related to religious beliefs. Both God appearing under different names and ancestors play a very important role in Ghanaian traditional religions. In the same way, super-natural powers or lesser gods obtain their power from God. Some of these are worshiped in nature such as, trees, rivers and mountains, although they are not considered as Gods but only live through them, which explains the deep respect that Ghanaians generally have for nature. The Ghanaians’ religious character makes it possible for all to live and practice their religion in harmony. Ghana is predominantly a Christian country, with Christians making up 68%, Islamist 15% and animist traditional beliefs making up the last 15%. However, it is sometimes acknowledged that every Ghanaian has one foot in their own religion and the other in their traditional beliefs.

Business Working Hours: Banks Monday - Thursday: 8:00 - 14:00 Friday 8:00 - 15:00 Saturday and Sunday: Closed Public Sector Monday - Friday: 8:00 - 17:00 Private Sector Monday - Friday: 8:00 - 17:00

MONEY MATTERS Currency The unit of currency is the new Ghana Cedi (GHC) with 50, 20, 10, 5, 2 and 1 note denominations and 50, 20, 10 and 5 and 1 pesewas (coins). This new currency has been brought in 2007 and 1 GHC represents 10,000 old Cedis. Beware that a lot of citizens still think and speak in old cedis, which might result confusing and quite costly in some occasions. The exchange rate with the Euro at the end of 2010 was 1.99 Cedis to the euro.

Banks

Amudandstick Mosque at Lurabanga

PUBLIC HOLIDAYS There are five variable-date public holidays: the Christian Good Friday and Easter Monday, the Muslim Eidi il Fitr and Eid il Adel, and farmers’ day (first Friday in December). In addition, the following fixed-date public holidays are recognized: January 1 March 6 May 1 June 4 July 1 December 25 December 26

New Year’s Day Independence Day May Day June 4 Anniversary Republic Day Christmas Day Boxing Day

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Some banks have debit card service, which offer customers the opportunity to put money onto an electronic card in order to avoid carrying large sums. ATM services are also offered by major banks to enable customers withdraw cash 24 hours a day. VISA is generally accepted by main hotels and money can be withdrawn in ATMs in Accra, Kumasi and Cape Coast. At the main branch of Barclays Bank in Accra you can obtain a cash advance on your VISA or MasterCard only by providing your passport.

COMMUNICATIONS Mobile Phones In Ghana, 5 giants of African and International companies share the telecom market: MTN (code 024), Tigo (code 027), Vodafone, Zain and Glo Mobile.

Fixed Line Telephones Country Code

233

General Information

Local area codes: Accra 021 Tema 022 Cape Coast 042 Takoradi 031 Koforidua 081 Kumasi 051 Ho 091 Sunyani 061 Temale 071 Bolgatanga 072 Wa 0756

Internet Services The number of internet users is rapidly growing in Ghana, going from 30,000 users in 2000 to nearly a million users by 2009. However, this statistic only represents 4.2% of the total population. There are a sizable number of Internet cafes springing up in Accra, Tema and a few other cities. Nevertheless, many rural communities are not connected yet.

MEDIA Newspapers in Ghana are mostly written in English. The Daily Graphic, the Ghanaian Times and the Evening News are three of the major governmentowned newspapers, sharing the market with the independent Accra Daily Mail, The Ghanaian Chronicle and the most read weekly newspaper The Mirror, The Mail (bi-weekly), as well as with the conservative Independent. Media in Ghana enjoy a high degree of freedom without major repression for private newspapers, as the media enterprise was qualified as â&#x20AC;&#x153;one of the most unfetteredâ&#x20AC;? on the African continent by the Commonwealth Press Union. Ghana TV (GTV) run by Ghana Broadcasting Corporation (GBC) is the main public television in Ghana.

BEFORE AND AFTER ARRIVAL Health You must have a Yellow Fever vaccination and you may be required to show your international immunization certificate as proof of this when you enter the country. Vaccinations for Hepatitis A, Typhoid fever, Polio, and Tetanus are also needed. Malaria prophylaxis is strongly recommended and mosquito protection measures are important at all times as it is the most effective measure against

Malaria. All travellers should visit their personal physician or a travel health clinic 4-8 weeks before departure. Ghana has good health services. All regional and district capitals as well as most towns have hospitals, polyclinics or clinics. The two teaching hospitals in Accra and Kumasi have facilities for treating special cases. Additionally, a number of religious organizations and private medical practitioners operate hospitals and clinics throughout the country. Herbal medicine and psychic healing are also widely practiced.

Safety Ghana is now a very safe and stable country with comparatively low crime levels amongst West African countries. Although the country is quite safe, be sure to always take sensible precautions. Beware of expat bars that can be the target for muggings. Make sure that you leave in a large group and enter a taxi immediately upon exiting the bar. More generally, avoid using expensive electronic devices in the street, as they could stir up envy.

Ghanaian Visa, Passport and Entry Requirements All persons entering Ghana must be in possession of a valid passport or travel document issued by a competent national or international authority and recognised by the Government of Ghana. All foreigners entering Ghana require entry visas with the exception of those listed under Exemptions below. Entry visas may be obtained prior to arrival from a Ghana Embassy, High Commission or Consulate abroad. Where Ghana has no consular or diplomatic representation, an application for entry visas may be made to the nearest British Diplomatic Mission or Consulate authorised by the Government of Ghana to act on its behalf. Entry visa may be issued on arrival if the Director of Immigration has prior notification from travellers or their sponsors. Nationals of the following Commonwealth East and Southern African countries may obtain visas, free of charge, at a point of entry in Ghana: Botswana, Lesotho, Malawi, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe.

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Exemption: a. ECOWAS citizens (Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo.) b. Nationals of Kenya, Malaysia, Singapore, Egypt and Hong Kong c. Holders of German and Cuban Diplomatic/ Service Passports. d. Persons in direct airside transit.

Train The triangle railway connects Accra, Kumasi and Takoradi. The route from Kumasi to Takoradi is used most as the corresponding road is in poor condition. One train covers this route daily in both directions leaving at 20:30 and arriving at 07:30. It costs USD$2 for a first-class ticket and is fairly comfortable although the range of food available on the train and at the station is very limited. Tickets can be bought only on the day of departure from 5:00 in the morning.

Application may be made directly to: Ghana Immigration Service Private Mail Bag Ministries Post Office-Accra Tel: (+233) 21 221667 / 225321 / 224445 Fax: (+233) 21 226996

Bus In cities, Trotros (minibuses) are by far the cheapest and the most local experience. Those shared taxis generally have fixed fares and routes and will only depart when the vehicle is full. For direct travelling between two major centres, the government State Transport Company runs reliable direct bus services between most cities and offers quicker and more comfortable ‘express’ and ‘air-conditioned’ services on the Kumasi, Tamale and Bolgatanga routes. OSA and City Express, also government run, offer their services but are slower and the buses are older.

Ghana Immigration Service Fees: • Resident Permit/Person - Ecowas National USD$100.00 • Resident Permit/Person - Other National USD$200.00 • Re-Entry Permits (Single/Multiple) USD$50.00 / 100.00 If you are staying for a longer period of time or intend to study or work in Ghana you should check with the Embassy regarding visa requirements.

How to Get There and Around Air The national carrier Ghana Airways occasionally flies to international destinations but is not reliable. KLM has daily flights from Amsterddam to Kokota International Airport at Accra (ACC). British Airways, Delta Air Lines, Air Afrique, Alitalia, Egypt Air, Ethiopian Airlines and Lufthansa also have scheduled flights to Kotoka Airport. Some airlines also fly to neighbouring countries (for further details please see “Airlines” section). CityLink offers domestic air services on the AccraKumasi line with 4 flights daily, and connects Accra, Sekondi and Tamale. You can buy tickets at Kotoka International Airport, Domestic Terminal Tel. (+233) 24 4312001- 4 and Kumasi Airport Tel. (+233) 51 22969, (+233) 51 2957 or through travel agents. CityLink also organizes private flights to any airport in Ghana. Antrak Air also flies from Accra to Kumasi as well as to other destinations in the country, tel. +233 21 777134 or +233 21 764723

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Taxi 80% of Ghana’s cars are said to be taxis. That makes the price for a taxi ride incredibly inexpensive. There is no meter so the price must be agreed upon in advance. For a short ride, the price can vary between 5000 and 10000 cedis. For a longer ride out of city centres, the price can go up to 20000 cedis (10€ at the time of writing). Car Trans-West African Coastal Highway connects Ivory Coast to Ghana and to Togo, Benin and Nigeria. This road sets Accra only a few hours away from the Togo border. In Accra, most roads are quite good. But while main roads are constantly improving, most of the roads outside Accra are still dirt tracks. On some roads, consider renting a 4x4, a standard car might sometimes be adequate in dry season but is not recommended. It is important to take note that cars with foreign registration are not permitted to circulate between 6PM and 6AM. Only Ghanaian vehicles are allowed at this time.

EMBASSIES Algeria Embassy of Algeria 22 Josif Broz Tito Avenue, Cantonments, Accra Tel: (+233) 21 776719, Fax: (+233) 21 776828 embdzacc@africaonline.com.gh

General Information

Benin Embassy of Benin 3, Switch Back Link, Hse No. 10, West Cantonments, Accra Tel: (+233) 21 774 860 Fax: (+233) 21 774897 Brazil Embassy of Brazil No. 24, Sir Arku Korsah Rd, Roman Ridge, Accra Tel: (+233) 21 – 774921 Fax: (+233) 21 778566 brasemb@ighmail.com

Denmark Royal Danish Embassy No. 67 Dr. Isert Road, 8th Avenue Extension, North Ridge, Accra Tel: (+233) 21 226972 / 253473 Fax: (+233) 21 228061 accamb@um.dk Egypt Embassy of Egypt 20 Josif Broz Tito Avenue, Cantonments, Accra Tel: (+233) 21 776854 / Fax: (+233) 21 776795 egyptemb@ghana.com

Bulgaria Embassy of Bulgaria No. 3 Kakramadu Road, East Cantonments, Accra Tel: (+233) 21 772404 Fax: (+233) 21 774231 bulembgha@africaonline.com.gh

Ethiopia Embassy of Egypt H. No. 2 Milne Close, Off Dr Amilcar Carbral Rd, Airport, Accra Tel: (+233) 21 775928 / 765682 Fax: (+233) 21 – 776807 kotutla@ghana.com

Burkina Faso Embassy of Burkina Faso Hse. No. 772/3, Farrar Avenue, Asylum Down, Accra Tel: (+233) 21 221988 Fax: (+233) 21 221936 ambafaso@ghana.com

France Embassy of France 12th Road, Off Liberation Avenue, Accra Tel: (+233) 21 774469 / 774480 Fax: (+233) 21 778321 ambaccra@africaonline.com.gh

Canada High Commission of Canada No. 46 Independence Avenue, Accra Tel: (+233) 21 228566 / 773791 Fax: (+233) 21 773792

Germany Embassy of Germany No. 6, Ridge Street, North Ridge, Accra Tel: (+233) 21 221311 / 221326 Fax: (+233) 21 221347 geremb@ghana.com

China Embassy of China No. 6 Agostino Neto Road, Airport, Accra Tel: (+233) 21 761133 / 777073 Fax: (+233) 21 774527 chinaemb@ghana.com

Great Britain High Commission of the United Kingdom Osu Link, Gamel Abdul Nasser Avenue, Osu, Accra Tel: (+233) 21 221665 / 7010650 Fax: (+233) 21 7010655 high.commission@accra.mail.fco.gov.uk

Cuba Embassy of Cuba No. 20 Amilcar Cabral Road, Airport Road, Accra Tel: (+233) 21 775868 / 765946 Fax: (+233) 21 774998 embghana@africaonline.com.gh

Guinea Embassy of Guinea H/No. 161A, 4th Norla Street, Labone, Accra Tel: (+233) 21 777921 Fax: (+233) 21 760961 embagui@ghana.com

Czech Republic Embassy of the Czech Republic Kanda Highway 2 C2660/5, Accra Tel: (+233) 21 223540 / 247282 Fax: (+233) 21 225337 accraczemb@ighmail.com

Vatican City Vatican Apostolic Nunciature No. 8 Drake Avenue, Airport, Accra Tel: (+233) 21 777759 Fax: (+233) 21 774019 nuncioga@africaonline.com.gh

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General Information

India High Commission of India No. 9 Ridge Road, Roman Ridge, Accra Tel: (+233) 21 775601 / 775602 Fax: (+233) 21 772176 indiahc@ncs.com.gh Iran Embassy of Iran No. 3, Nme Lane, Airport, Accra Tel: (+233) 21 760521 Fax: (+233) 21 777043 Israel Embassy of Israel 12 Mary Slessor, Off Udo, Udoma Street Abuja, Nigeria Tel: (+234) 9 6739552 Fax: (+234) 9 4605540 info@abuja.mfa.gov.il Italy Embassy of Italy Drake Avenue Ext. Airport, Accra Tel: (+233) 21 777301 Fax: (+233) 21 777056 ambital@ghana.com Ivory Coast Embassy of Ivory Coast H. No. F710/2, Eighteenth Lane, Osu, Accra Tel: (+233) 21 774612 / 774611 Fax: (+233) 21 773516 Japan Embassy of Japan 5 Avenue Extension, Behind Police HQ, Accra Tel: (+233) 21 765060 / 765061 Fax: (+233) 21 762553 japanemb@ghana.com Korea Embassy of Korea No. 3 Abokobi Road, East Cantonments, Accra Tel: (+233) 21 776157 / 777533 Fax: (+233) 21 772313 koreamb@ghana.com Lebanon Embassy of Lebanon H/No. F. 864/1, Cantonments Road, Accra Tel: (+233) 21 776745 Fax: (+233) 21 764290 Lebanon@ighmail.com

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Liberia Embassy of Liberia No. 10 off Jawaharial Nehru Road, Cantonments, Accra Tel: (+233) 21 775641 / Fax: (+233) 21 775987 Libya Embassy of Libya No. 53 Liberation Road, Airport, Accra Tel: (+233) 21 774819 / Fax: (+233) 21 774953 Malaysia High Commission of Malaysia No. 18, Templesi Lane, Airport, Accra Tel: (+233) 21 764909 / Fax: (+233) 21 764910 mwaccra@africaonline.com.gh Mali Embassy of Mali 1st Bungalow, Liberia Road, Ministryâ&#x20AC;&#x2122;s area, Accra Tel: (+233) 21 668322 / Fax: (+233) 21 666942 ambamali@ighmail.com Morocco Embassy of Morocco Novotel Hotel, Suite 623, Accra Tel: (+233) 21 667546 / Fax: (+233) 21 667533 Netherlands Royal Netherlands Embassy 89 Liberation Road, Thomas Sankara Circle, Accra Tel: (+233) 21 231991 / 773644 Fax: (+233) 21 253178 / 775969 acc@minbuza.nl www.ambaccra.nl Niger Embassy of Niger H. No. E104/3, Independence Avenue, Accra Tel: (+233) 21 224962 / Fax: (+233) 21 229011 Nigeria High Commission of Nigeria No. 5 Josif Broz Tito Avenue, Cantonments, Accra Tel: (+233) 21 776158 / Fax: (+233) 21 774395 nighicom@africaonline.com.gh Palestine Mission of Palestine No. 03 Ghana Airways Avenue, Airport, Accra Tel: (+233) 21 776737 Fax: (+233) 21 778736 joamer@ighmail.com

General Information

Romania Embassy of Romania 16 Nme Lane, Airport, Accra Tel: (+233) 21 774281 Fax: (+233) 21 774281

Spain Embassy of Spain Drake Avenue Extension, Airport, Accra Tel: (+233) 21 774004 Fax: (+233) 21 776217

Russia Embassy of Russia F 856/1, 13th Lane, Ring Road East Osu, Accra Tel: (+233) 21 775611 Fax: (+233) 21 772699 russia@ghana.com

Switzerland Embassy of Switzerland 9th Water Road, North Ridge Area, Accra Tel: (+233) 21 228185 / 228125 Fax: (+233) 21 223583 swiemacc@africaonline.com.gh

Saudi Arabia Royal Embassy of Saudi Arabia No. 10 Noi Fetreke Street, Roman Ridge Amb. Area, Accra Tel: (+233) 21 776651

Togo Embassy of Togo Togo House, Near Cantonments Circle, Accra Tel: (+233) 21 777950 Fax: (+233) 21 765659 Togamba@ighmail.com

Sierra Leone High Commission of Sierra Leone 83 A Senchi Street, Airport, Accra Tel: (+233) 21 769190 Fax: (+233) 21 769189 slhc@ighmail.com South Africa High Commission of South Africa No. 10 Clottey Crescent, North Labone, Accra Tel:(+233) 21 7011580 / 762381 Fax:(+233) 21 764484 sahcgh@africaonline.com.gh

U. S. A. Embassy of USA Ring Road East, Accra Tel: (+233) 21 775347 / 775297 Fax: (+233) 21 776008 Zimbabwe High Commission of Zimbabwe No. 16 Akosombo Street, Airport, Accra Tel: (+233) 21 780956 Fax: (+233) 21 780959

Conference Center

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DID YOU KNOW? ... Accra means ants. The large number of Ga (the ethnic group who are the original landlords of Accra) earned themselves the name Nkran, meaning ants in the Akan language, during their exodus from Yoruba land, Nigeria, where they are believed to have come from centuries ago. … That Ghana was the first sub-Saharan country to gain its independence in 1957. ... Ghana was formed from the merger of the British colony, Gold Coast, and the Togoland trust territory, which was a former German colony. ... That Ghana is the second largest gold-producer in Africa. ... About 30,000 slaves were taken from Ghana to the Americas and parts of Europe. During the slave trade, which lasted from the 18th Century until it was abolished in the middle of the 19th century, thousands of Ghanaians were sold on the

open market into slavery. Many died in the slave dungeons in the castles along the coast and some lost their lives on the ships that transported them to the Americas. ... That St George’s Castle in Elmina is the oldest European building in the sub-Saharan Africa, dating to 1482. ... That the Volta River feeds the World’s largest artificial water body, the Lake Volta, and empties into the Atlantic. ... Ghana has the largest man-made lake in the world. Volta Lake was created during the construction of the Akosombo Dam, Ghana’s hydroelectric power source. Volta Lake, the largest man-made lake in the world, extends from the Akosombo Da, in southeastern Ghana to the town of Yapei, 520 km (325mi) to the north. The lake generates electricity, provides inland transportation, and is a potentially valuable resource for irrigation and fish farming.

VOCABULARY The list below displays the basic useful words in Twi (pronounce “chwee”) which is one of the most common languages used in Ghana: Akwaaba Welcome Woho tay sane How are you? Me ho ye I am fine Mah chee Good morning Ma ha Good afternoon Ma jve Good evening Sain How much? Ko bra To go and come Afenhuiapa Happy New Year Obroni White person May pa cho Please Me dah see Thank you Yiw Yes Dabi No Owura Mr Awura Mrs Akwadaa Infant Opanimu Elder Ma year I am lost Sika Money Market Djom, Akrom

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A bo sane What time is it? Nde Today Nsuo Water Nkwai Soup Akoko Chicken Emo Rice Brood Bread Fiada Town Baako One Miene Two Miensa Three Anane Four Enum Five Nsia Six Edu Ten Dwuada Monday Beneda Tuesday Wukuada Wednesday Yawoada Thursday Memenda Saturday Kwasiada Sunday

TOP COMPANIES GHANAâ&#x20AC;&#x2122;S TOP 100 MOST DYNAMIC COMPANIES This is the ranking of the top 100 companies in Ghana regarding their enterprise building and corporate excellence and dynamism. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50

Stanbic Bank Ghana Ltd Scancom Ltd Toyota Ghana Co Ltd Kasapreko Co Ltd UT Financial Services Ltd Ghana Rubber Estates Ltd CFAO Ghana Ltd The Trust Bank Ghana Ltd Intercom Programming & Manufacturing Co Ltd Ghana Oil Co Ltd Allship Logistics Ghana Community Network Services Ltd Gold Fields Ghana Ltd Barclays Bank Ghana Ltd Ecobank Ghana Ltd TOTAL Petroleum Ghana Ltd HFC Bank Ghana Ltd Cal Bank Ghana Ltd Atwima Kwanwoma Rural Bank Ltd Twifo Oil Palm Plantations Ltd South Akim Rural Bank Ltd Guinness Ghana Breweries Ltd Upper Manya Kro Rural Bank Ltd Amalgamated Bank Ghana Ltd Tropical Cable And Conductor Ltd Prudential Bank Ghana Ltd Standard Chartered Bank Ghana Ltd Amansie West Rural Bank Ltd First Allied Savings & Loans Ltd DHL Ghana Ltd Ghana Commercial Bank FanMilk Ltd Kingdom Books & Stationery Ltd Holy Trinity Medical Centre Maersk Ghana Ltd Unilever Ghana Ltd Unibank Ghana Ltd Lower Pra Rural Bank Ltd Ahantaman Rural Bank Ltd Procredit Savings and Loans Co Ltd Otuasekan Rural Bank Ltd Ghana Oil Palm Development Co Ltd British American Tobacco Ghana Ltd Quality Insurance Co Ltd Star Assurance Co Ltd Adansi Rural Bank Ltd Comet Properties Ltd PZ Cussons Ghana Ltd Fidelity Bank Ghana Ltd Ghana Libyan Arab Holding Co Ltd

51 Camelot Ghana Ltd 52 Akuapem Rural Bank Ltd 53 Amanano Rural Bank Ltd 54 Benso Oil Palm Plantation Ltd 55 M&G Pharmaceuticals Ltd 56 Sekyere Rural Bank Ltd 57 TBL Resources Ltd 58 Dangme Rural Bank Ltd 59 Interplast Ltd 60 Kama Health Services Ltd 61 Agricultural Development Bank Ltd 62 First Allied Savings & Loans Ltd 63 Mechanical Lloyd Co Ltd 64 SG-SSB Bank Ltd 65 Juaben Rural Bank Ltd 66 Odotobri Rural Bank Ltd 67 International Commercial Bank Ltd 68 SIC Insurance Co Ltd 69 Cocoa Processing Co 70 Kinapharma Ltd 71 Wienco Ghana Ltd 72 Vanguard Assurance Co Ltd 73 Fiaseman Rural Bank Ltd 74 Dizengoff Ghana Ltd 75 Donewell Insurance Co Ltd 76 Type Co Ltd 77 Glahco Hotels And Tourism Development Co Ltd 78 The Coca Cola Bottling Co of Ghana Ltd 79 Nwabiagya Rural Bank Ltd 80 Bosomtwe Rural Bank Ltd 81 Unique Insurance Co Ltd 82 Ayrton Drug Manufacturing Ltd 83 Kakum Rural Bank Ltd 84 Olam Ghana Ltd 85 Bsystems Ltd 86 Precious Minerals Marketing Co Ltd 87 Produce Buying Co Ltd 88 Enterprise Insurance Co Ltd 89 i2000 Ltd (NIIT Franchise) 90 TV3 Network Ltd 91 First African Remittances Ltd 92 Domod Aluminium Ltd 93 Agricare Ltd 94 Atlantic and Pacific Forex Burea Ltd 95 Facol Roads Ltd 96 Accra Brewery Ltd 97 Glico Life Insurance Co Ltd 98 Transaction Solutions Ltd 99 1st African Forex Bureau Ltd 100 Provident Insurance Co

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BUSINESS RESOURCES

Two small antelopes can beat a big one Ghanaian proverb

Business Resources ADVERTISING AGENCIES Adams Advertising Ltd PO Box CT 4429, 11 Kinkawe Rd, Nyaniba Est., Accra Tel: (+233) 21 783410, 783915, 784685 info@adamsjwt.com.gh Addmaker Advertising Agency PO Box CT 6061, Cantonment, Adabraka, Accra donnel23@live.com Apex Advertising & Post Production PO Box OS 374, Gulacs House F 522, 2 Nmetsobu St, Osu, Accra Tel: (+233) 21 773434 rameshjai@apex-advertising.com www.apex-advertising.com Cherub Advertising Ltd PO Box TN 814, 21 F St, Greda Estates, Accra Tel: (+233) 26 4264333, 21711372 cherubadvertising@yahoo.com

Free Style Advertising Gh. Ltd P/11 Manet Ville, Off Spintex Rd, Sakumono, Accra Tel: (+233) 30 2814046 Â karl1148@yahoo.com Hayja Printing and Advertising Co Ltd PO Box KN 1839, Kaneshie, Accra Tel: (+233) 24 3222701 hayjaghana@yahoo.com

iCreate Advertising Creative Director: Mr. Tallal Sangari PO Box 77 (Kanda, Accra), c/o Niagara Plus Hotel, House No.7, 14th Lane, Osu, Accra Tel: (+233) 30 7070028 info@i-cr8.com Iris - Branding & Advertising

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Business Resources

Studio 12 Kwabena Aniefe St, Dzorwulu, Accra Mob: (+233) 24 1992839 www.iristudio.com iris@iristudio.com Jonata Advertising Services Ltd PO Box 2294, Mataheko, Accra Tel: (+233) 21 76138 Lead Advertising Ghana Ltd 1, Annan Ville, Lartebiokorshie, Accra Tel: (+233) 21 671279 ikw@leadadvert.com Link Me Marketing & Advertising Agency PO Box TN 1961, Teshie Nungua Estate, Tema, Accra Tel: (+233) 24 3858000 linkme31@yahoo.ca

British Airways Kojo Thompson Rd, North Liberia Rd, Accra Tel: (+233) 21 240386 / 8 Egypt Air Ring Rd, Danquah Circle, Accra Tel: (+233) 21 773537 / 8 Ethiopian Airlines Cocoa Hse, Kwame Nkrumah Ave, Accra Tel: (+233) 21 664856 / 8 Ghana Airways Airport Res. Area, Accra Tel: (+233) 21 773321 / 42 / 35 Lufthansa German Airline Fidelity House, Ring Rd Central, Accra Tel: (+233) 21 243893

Megamag Advertising Company PO Box KT 567, Kotobabi, Accra Tel: (+233) 26 4855470 megamagadvertising@yahoo.com

Middle East Airlines Plot No. D 640/2, Kojo Thompson Rd, Tudu, Accra Tel: (+233) 21 228437 / 230867

Promoline Advertising Ltd Behind Dan Morton Tailors, Asylum Down PO Box MP 1350, Mamprobi,Â Accra Tel: (+233) 30 2244823 tomant90@hotmail.com promoline_image@yahoo.com

South African Airways Takura Hse 2nd Floor Union Ave, Accra Tel: (+233) 21 791165 / 704599

AIRLINES Air Burkina M & S Premises, Osu, Accra Tel: (+233) 21 773498 / 774587 Air Guinea M & J Osu, Accra Tel: (+233) 21 773153 Air Portugal Benefit Plaza, Accra Tel: (+233) 21 236879 Alitalia Ring Rd Central, Accra Tel: (+233) 21 229813 / 227873 American Airlines 1st Floor, Valco Trust Hse, Accra Tel: (+233) 21 231804 / 231805

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ASSOCIATIONS AND ORGANISATIONS American Chamber of Commerce C609/3, 5th Crescent St, Asylum Down, Accra Tel: (+233) 30 2247562 info@amchamghana.org Ghana Belgium Luxembourg Chamber Of Commerce & Industry 22, Odanta St, Asylum Down, Accra Tel: (+233) 30 2788000 luxibelgh@yahoo.com Ghana British Chamber of Commerce Near White House, Mamprobi, Accra Tel: (+233) 30 2674762 Ghana France Chamber of Commerce Obenesu Crescent, East Cantonments, Accra Tel: (+233) 30 2768528 gfcciadirection@yahoo.fr

Business Resources

Ghana National Chamber of Commerce & Industry 3rd Oroko St, Kokomlemle, Accra Tel: (+233) 30 2246084 / Fax: (+233) 30 2255202 info@ghanachamber.org Ghana Netherlands Chamber of Commerce & Culture 32, Josif Broz Tito Ave, Cantonments, Accra Tel: (+233) 30 2777276 / Fax: (+233) 30 2762656 info@ghanecc.com Ghana-UK Chamber of Commerce & Industry Equitorial Plaza, 54 Old Achimota Rd, Accra Tel: (+233) 30 3206754 Kumasi Regional Chamber of Commerce & Industry Cocoa Board, Jubilee House, Adum, Kumasi Tel: (+233) 32 2025870 kumasi@ghanachamber.org Sekondi-Takoradi Regional Chamber of Commerce & Industry 33-4 Liberation Rd, Sekondi-Takoradi Tel: (+233) 31 2022385 info@westernghanachamber.org Tamale Regional Chamber of Commerce & Industry 43 Kumbumgu Rd, Tamale Tel: (+233) 37 2022480 tamale@ghanachamber.org

BANKS Agricultural Development Bank PO Box 4191, ADB House, 37 Independence Ave, Accra Tel: (+233) 21 770403, 762104 Fax: (+233) 21 784893 www.agricbank.com adbweb@agricbank.com Bank of Ghana PO Box GP 2674, 1 Thorpe Rd, Accra Tel: (+233) 21 666174 www.bog.gov.gh / info@bog.gov.gh Barclays Bank High St, Accra Tel: (+233) 21 664901 / 664904 / 667247 Fax: (+233) 21 669401 barclays.ghana@barclays.com

CAL Merchant Bank PO Box 14596, 23 Independence Ave, Accra Tel: (+233) 21 680061 / 69 / 79 Fax: (+233) 21 680081 www.calbank.net info@calbank.net Ecobank Ghana 19 Seventh Ave Ridge West, Accra Tel: (+233) 21 680437 / 681167 Fax: (+233) 21 680428 www.ecobank.com Ghana Commercial Bank PO Box 134, High St, Accra Tel: (+233) 21 664914/7 / Fax: (+233) 21 662168 www.gcb.com.gh International Commercial Bank Makola Shopping Mall, Accra Tel: (+233) 21 666190 icb@icbank-gh.com Merchant Bank Ghana PO Box 401, Merban House, 44 Kwame Nkrumah Ave, Accra Tel: (+233) 21 666331/6 / Fax: (+233) 21 667305 www.merchantbank.com.gh info@merchantbank.com.gh Metropolitan & Allied Bank PO Box C1778, Valco Trust, Castle Rd, Cantonments, Accra Tel: (+233) 21 232770 / 3 Fax: (+233) 21 232776 National Investment Bank PO Box GP 3726, 37, Kwame Nkrumah Ave, Accra Tel: (+233) 21 661701/16 Fax: (+233) 21 661730 www.nib-ghana.com Prudential Bank 8 Nima Ave, Ring Rd Central, Accra Tel: (+233) 21 781201 / 7 Fax: (+233) 21 781210 www.prudentialbank-ghana.com SG-SSB Bank PO Box 13119, Ring Rd Central, Accra Tel: (+233) 21 221726, 223375, 221743 www.sg-ssb.com.gh Stanbic Bank Valco Trust House, Castle Rd Ridge, PO Box CT 2344, Cantonments, Accra

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Business Resources

Tel: (+322) 30 2 687670 - 8 Fax: (+322) 30 2687669 stanbicghana@stanbic.com.gh

Tel: (+233) 21 782683 Fax: (+233) 21 763571 jobeshcar@yahoo.com

Standard Chartered Bank PO Box 768, High St, Accra Tel: (+233) 21 664591 Fax: (+233) 21 667751 www.standardchartered.com/gh info@stanchart.com.gh

Pace Car Rentals PO Box OS593, Osu, Cantonments, Accra Tel: (+233) 21 779708 Fax: (+233) 21 772520

The Trust Bank PO Box 1862, 68 Kwame Nkrumah Ave, Accra Tel: (+233) 21 240049 / 52, 230403 Fax: (+233) 21 240056 / 9 trust@ttbgh.com

CAR rental Alamo Car Rentals PO Box GP 6421, Granada Hotel, Airport,Â Accra Tel: (+233) 21 768899 Fax: (+233) 21 783513 Atlas Rent- A-Car 1st Nanka Bruce Close, Link Rd, Laterbiokorshie, Accra Tel: (+233) 21 316983 Kenmarfo@yahoo.com Avis Car Rentals PO Box GP 6094, Labone, Accra Tel: (+233) 21 761751 / 2 rentacar@avisghana.com www.avis.com Budget car Rentals PO Box ML 661, Accra Tel: (+233) 21 668800, 20 8118620 Europcar 6 Otublohum Rd, North Industrial Area, Accra Tel: (+233) 21 213457 Fax: (+233) 21 243455 europcar@cfao-gh.com Hertz Car Rentals PO Box GP15119, Maamobi, Accra Tel: (+233) 21 230773 / 220570 Fax: (+233) 21 775009 / 230769 Jobesh Car Rentals PO Box CT 5042 Cantonments, Ringway Estate, Accra

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Snappy Car Rental Services PO Box MB 1077, Tackie Tawiah Ave, Mamprobi, Accra Tel: (+233) 21 249729 Fax: (+233) 21 249730 Vanef Ltd PO Box OS 1288, East Pig Farm, Osu, Accra Tel: (+233) 21 222374 Fax: (+233) 21 222489

CARGO AND SHIPPING Allship Logistics Ltd PO Box BT 582, Opposite Tema Lube Oil Company, Heavy Industrial Area, Tema Tel: (+233) 22 205627 Fax: (+233) 22 206482 info@all-ship.com British Airways World Cargo Bldg 2, Cargo Village, Airport, Accra Tel: (+233) 30 2776772 Cargo Network Services Airport Residential Area, Accra Tel: (+233) 30 2769598 Dolphin Shipping Services Ltd PO Box 986, 3rd Floor Manna Hse, Inner Fishing Harbour, Tema, Accra Tel: (+233) 22 204292 dolphin@africaonline.com.gh Frenzy Shipping Co Ltd Tema, Accra Tel: (+233) 22 200538 frenzyshipping@hotmail.com Global Cargo & Commodities Ltd 1st fl., Sunturk Bldg, Comm. 2, Tema, Accra Tel: (+233) 30 3215597 Fax: (+233) 30 320074 globalcargo@ghana.com

Business Resources

Globallink Shipping & Logistics Ltd Oceanic House, Torman Rd, Tema Pmb, Comm.1 Post Office, Accra Tel: (+233) 24 4331508 info@globalinkshipping.com www.globalinkshipping.com Inter Cargo Service Ltd Near Airport Post Office, Airport, Accra Mob: (+233) 24 4696773 roasiedu@yahoo.com Jenik Cargo Handling Co Ltd Harbour Rd, Opp. Fan Milk Depot, Sekondi-Takoradi, Accra Tel: (+233) 31 2027640 Tel: (+233) 24 4512036 jenikcargo@yahoo.com Maranatha Air Cargo Service Ltd 16, Dr. Amical Cabral, Airport Res. Area, Accra Tel: (+233) 30 2761551 Samscargo Ltd Vertical Plaza, Comm. 6, Tema, Accra Mob: (+233) 24 4695867 samscargo@yahoo.com Seaworth Shipping Ltd PO Box BT 93, Hotel Westgate Plaza, 80 Vertical Center, Comm. 6, Tema, Accra Tel: (+233) 22 205107 / 8 ; (+233) 22 207074 Fax: (+233) 22 200470 www.slshipping.com info@slshipping.com Tema Cargo Truck Branch - GPRTU Cement Worksm, Tema Tel: (+233) 30 3205907 Transit Cargo Ltd Unique Trust Bldg, Comm.1, Tema, Accra Tel: (+233) 30 3201065 Fax: (+233) 30 3201066 transitcargogh@yahoo.com

CATERERS Group of Five Fair Traditional Caterers PO Box KD 540, Nima, Accra Mob: (+233) 24 4525410

CONFERENCE & EVENTS ORGANISERS AND FACILITIES CONSULTANTS & OUTSOURCING Charterhouse Ghana Organises all kinds of, and especially major, Events, Conferences, Concerts, etc. H/No. 824/10 Feo Eyeo St, North Industrial Area, Accra Tel: (+233) 24 4333378 info@charterhouseghana.com www.charterhouseghana.com Formal Decor Specialised in wedding planning Accra Tel: (+233) 20 8153137 / (+44) 75 91745151 www.facebook.com/pages/Accra-Ghana/Weddingevent-organisers-in-ghana info@sovereignheights.com PlanIt Ghana Ltd Highly acclaimed event planning service PO Box PMB CT 71, Cantonments, Accra Tel: (+233) 21 939026 info@planitghana.com / www.planitghana.com Lion Heart Events PO Box CT 1073, 26 La Tebu Cresent, East Contonments, Accra Tel: (+233) 302 766916 / Fax: (+233) 302 766917 Skype: lionheartevents info@lionheartevents.com www.lionheartevents.com Dolaa Event Planner PO Box AT 1183, Accra, Adj. Nima Police Station, Nima deblarbi@yahoo.com / rhodep2001@yahoo.com

CONSULTANTS, PROFFESIONAL& LEGAL SERVICES Addo Atuah & Co PO Box 01914 (Osu-Accra), Located at Adabraka, Hse. #E127/2, Essie Lodge, opposite Total / Elf Head Office, Kojo Thompson Rd, Accra Tel: (+233) 21 220640 Fax: (+233) 21 251852 AWOONOR, Ekow N. PO Box C2629, Located at Pegasus House,

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Business Resources

47 Independence Ave, Accra Tel: (+233) 21 231928 Fax: (+233) 21 221005 www.awoonor.com

FedEx PO Box Kia 9518, No. 60, Mango Tree Ave, Accra Tel: (+233) 21 257921 www.fedex.com

BENTSI-ENCHILL, Kojo PO Box 1632, Located at Teachers Hall, 3rd Floor, Accra Tel: (+233) 21 221171 Fax: (+233) 21 226129 www.belonline.org kojo.bentsi-enchill@belonline.org

TNT PO Box CT2261 (Osu), 24 18th Lane, Accra Tel: (+233) 21 773825 www.tnt.com

JLD Legal Consultancy PO Box 178, Located at House #23 King Tarkie overpass Kanda Highway, North Ridge, Accra Tel: (+233) 21 226941 Fax: (+233) 21 254411 jld@africaonline.com.gh Glymin and Company PO Box 162, No. 20, Klanaa St, Osu, Ako Adjei, Accra Phone:Â (+233) 21 760204 Fax: (+233) 21 760201 Glyco@africaonline.com.gh Hesse & Larsey PO Box OS 514, No. F459/4 Nyaniba Estates, Osu, Accra Tel: (+233) 21 778215 Fax: (+233) 21 761197 hesse@ghana.com Laryea, Laryea & Co: Accra PO Box TF 175, #5 Mankralo Close, East Cantonments, Accra Tel: (+233) 21 775282 Fax: (+233) 21 775690 laryea@africaonline.com.gh

COURIERS UPS PO Box OS693 (Osu), Danquah Circle, Accra Tel: (+233) 21 762509 www.ups.com DHL PO Box 207, C 913/3, Crescent Rd, North Ridge, Accra Tel: (+233) 21 241595 www.ems.ge

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Universal Express PO Box CT3001 (Cargo Village), Kotoka Int. Airport, Accra Tel: (+233) 21 774225 Lifeline Courier Express PO Box CT 5117, Accra Tel: (+233) 21 768117 www.lifelinecourier.com

DENTAL SERVICES Pro-Denticare Ltd 4 Onyasia Crescent, Roman Ridge Tel: (+233) 21 780077 jihakl@hotmail.com Spaes Dental Clinic #10, 4th Ringway Estates, Accra Tel: (+233) 21 223250 Beaver Clinic Ltd Child Care Specialist PO Box OS 2778, 7 Roman Rd, Roman Ridge, Accra Tel: (+233) 21 771785 www.beaverdentist.com Maab Clinic, Medical and Dental PO Box OS565, Osu Link, Accra Tel: (+233) 21 777904

DOCTORS / HOSPITALS Akai House Clinic 14 Roman Rd, Roman Ridge Accra Tel: (+233) 21 763821 / Residential: (+233) 21 763821 www.carapsmedline.ge Trust Hospital PO Box M149, 45 Cantoments Rd, Accra Tel: (+233) 21 7619748 info@thetrusthospital.com www.thetrusthospital.com

Business Resources

Nyaho Medical Center PO Box AN 5224, 35 Aviation Rd, Accra Tel: (+233) 21 775341

Janet’s Beauty Salon PO Box 16033 Airport, Golden Tulip Hotel, Accra Tel: (+233) 21 775360

Healhline Medical Ltd PO Box KN 3847, Kaneshie, Accra Tel: (+233) 21 230034

HEALTH & FITNESS CLUBS

DRY CLEANERS The Perfectionist 11th Lane, Accra Tel: (+233) 21 764554 spintserviceslimited@gmail.com Chartered Care Ghana Ltd Box WB 423, Behind Ebenezer Sec. Sch., Accra Tel: (+233) 24 4091707 Fabricare Dry Cleaning & Laundry PO Box Box 1535 (East Legon), East Legon, Accra Tel: (+233) 21 510594 Premier Dry Cleaners PO Box 8377, Accra Nsawam Rd, Accra Tel: (+233) 21 244248 Pelican Cleaning Service PO Box CT 5069 (East Legon), 8 Accra Ave, Accra Tel: (+233) 24 4864546 Wiseway Cleaners PO Box 4096, Republic House Annex, Accra Tel: (+233) 21 225401

HAIR & BEAUTY Golden Tulip Hotel Beauty Salon Liberation Rd, Accra Tel: (+233) 21 775360 www.goldentulipaccra.com FC Skin & Beauty Klinik PO Box AW 19778, No 42, Examination Loop, North Ridge, Accra Tel: (+233) 21 249791 www.fcgroupltd.com Allure Beauty Saloon A & C Shopping Mall, East Legon, Accra Tel: (+233) 21 518913 PO Box AN 5852, No146, Nyaniba Estate, Accra Tel: (+233) 21 768573

Dun’s Fitness Centre PO Box AN 11309, 1st Dzorwulu Crescent, Accra Tel: (+233) 21 77830 www.dunsfitness.com Pippa’s Health Centre Ltd A & C Shopping Mall, East Legon, Accra Tel: (+233) 21 520390 Ringway Estates, Accra Tel: (+233) 21 224488 www.pippasfitness.com Aviation Social Centre PO Box CT 249, Airport Bypass, Accra Tel: (+233) 21 7011280

HOTELS

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INSURANCE PROVIDERS Regency Alliance Insurance Ltd Insurance Company, 65 Patrice Lumumba Rd, Airport Residential Area, Accra Tel: (+233) 21 778106 www.regencyallianceghana.com Star Assurance Co Ltd Opp. Police MTTU, Tudu, Accra Tel: (+233) 21 662191 C653/3 5th Crescent, Asylum Down, Accra Tel: (+233) 21 258943 www.starassurance.com Trans-National Insurance Brokers Ltd PO Box 17841 Tesano Business Center, Accra Tel: (+233) 21 235603 www.nicgh.org Tri-Star Insurance Services Ltd PO Box AN12566, 82 Fadama link, Accra Tel: (+233) 21 256183 www.tristarghana.com

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Business Resources LANGUAGE SCHOOLS

PHARMACIES

Goethe-Institute (German Cultural Central) PO Box PMB 52 CT, No.30 Kakramandu Rd, Cantonments, Accra Tel: (+233) 21 776764

East Cantonments Pharmacy PO Box GP 20149, Giffard Rd, East Cantonments, Accra Tel: (+233) 21 772620 www.eastcantonmentspharmacy.com

Centre Régional pour l’Enseignement du Français PO Box 1252, North Ridge, Accra Tel: (+233) 21 225251 Alliance Française d’Accra PO Box CT 4909, Airport Residential Area, Accra Tel: (+233) 21 773134 Wicelit Ventures PO Box KT 647, Kisseman Market Rd, Accra Tel: (+233) 21 238083 GAK Academy of Linquistics PO Box AN 7646, Snaps School’s Junction, Asylum Down, Accra Tel: (+233) 21 220654

MEDIA The Statesman DTD, 10 Sapele Loop, Kokomlemle, Accra Tel: (+233) 21 220057 www.thestatesmanonline.com statesman_gh@yahoo.com Accra Daily Mail PO Box CT 4910, Accra Tel: (+233) 21 771686 / (+233) 21 220084 Fax: (+233) 21 220084 www.accra-mail.com accmail@africaonline.com.gh Graphic Ghana No. 3 Graphic Rd, Accra Tel: (+233) 21 68400110 www.graphic.com.gh graphic@ncs.com.gh The Chronicle 37, Bobo St, Tesano, Accra Tel: (+233) 30 2232713 Fax: (+233) 30 2232608 www.ghanaian-chronicle.com The Ghana Palaver PO Box WJ 317, Wejia-Accra www.ghana-palaver.com

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Bedita Pharmacy PO Box CT 5412, Blohum St. adj. to Sid Theatre, Dzorwulu, Accra Tel: (+233) 21 778375 Avenue Chemists PO Box 92 (Kaneshie), La Paz, Nii Boi Town, Tesano, Accra Tel: (+233) 21 400197 East Legon Pharmacy PO Box LG41, No. 11, East Legon Rd, Accra Tel: (+233) 21 502174

PHOTO SERVICES Flash Photo Lab PO Box 3313, Danquah Circle, Osu, Accra Tel: (+233) 21 773377 My Photo Studio Trinity House, Osu RE, Accra Tel: (+233) 24 4451234 Diamond Photo & Trad Co PO Box AN 7614, Ring Rd Central, Accra Tel: (+233) 21 223300 Vision Photo Lab. Ltd PO Box 6045, Behind Unibank, Kokomlemle, Accra Tel: (+233) 21 223222

REAL ESTATE Wachild Co Ltd PO Box Os 934C270/3, Ring Rd Central, Adj. Appollo Theatre, Accra Tel: (+233) 21 227647 www.wachild.com Halberd Properties (HALPRO) PO Box AN 6457, 38th Blohum St, Dzorwulu, Tel: (+233) 21 767648 www.halprogh.com

Business Resources RESTAURANTS

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Okponglo Taxi Station Freetown Ave, Accra

SHOPPING CENTRES & SUPERMARKETS

Taxi Rank Kwame Nkrumah Ave, Accra Kojo Thompson Rd, Accra

Palace Shopping Mall Spintex Rd, Accra

TELECOM

A&C Shopping Mall Block 232, Jungle Rd, East Legon, Accra info@ancsquare.com Accra Mall Liberation Rd, Accra www.accramall.com Shaaba Shopping Mall Motorway Extension, Accra MaxMart 37 Liberation crescent, Accra Tel: (+233) 21 7837501 Masons Supermarket Ltd PO Box 3131, Zongo Lane, Accra Tel: (+233) 021 667972 The Tops Supermarket PO Box AN 1041, 1, Cantonments Rd, Accra Tel: (+233) 21 775111

TAXIS Ghana by Taxi 26, Accra Tel: (+233) 266 656466 www.ghanabytaxi.com

Ghana Telecom Co Ltd (Headquarters) PO Box PMB AN 221, Circle, Accra Tel: (+233) 21 232000 www.vodafone.com.gh Rosepark Telecom Ltd PO Box Pmb KD 257, 5 Museum Charlet, Adabraka, Accra Tel: (+233) 27 5859521

TRANSLATION SERVICES Dagyane Translators PO Box NT 392, 3 Afram St., Asylum Down, Accra Tel: (+233) 24 6646466 Top Plus Translations & Consultancy Services PO Box AN 12387, Next To Teshie Orphanage, Lascala Teshie, Accra Tel: (+233) 21 712151

TOUR OPERATOR & TRAVEL AGENTS

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INVESTMENT AND LEGAL FRAMEWORK

What is bad luck for one man is good luck for another Ghanaian proverb 35

Investment & Legal Framework OVERVIEW In view of the government’s vision of making Ghana the Gateway to West Africa and to attain middleincome status by the year 2015, the government is committed to implementing policies that reduce the general cost of doing business in Ghana and to promote investor’s confidence in the country. With a stable multi-party government that is committed to market liberalization, Ghana has been ranked as one of the most attractive locations for doing business in Africa. Other factors that make Ghana a competitive investment destination include: • A sound macroeconomic environment • Immediate access to all markets of the Economic Community of West African States (ECOWAS) • 100% foreign ownership is permitted • On-going privatisation in key economic sectors • On-going infrastructure development • Expanding stock market • Competitive labor force • Availability of skilled and trainable labour • Quota-Free access to USA & European Union markets. • Export-free zones where goods traded with other countries are exempt from customs duties and laws • Fast developing financial infrastructure • High degree of personal safety and • Warm and friendly people

Domestic Laws Laws governing the establishment of business in Ghana are in accordance with the provisions made in the following legal legislation: • The Companies Code, 1963 (Act 179) • The Partnership Act, 1962 (Act 152) • The Business Name Act, 1962 (Act 151).

Regulatory Bodies The legal framework for investment in Ghana is regulated by different agencies in the economy. These are: • Registrar General’s Department • Ghana Investment Promotion Council (GIPC) • Ghana Immigration Service (GIS) • Internal Revenue Service (IRS) and VAT Secretariat • Environmental Protection Agency (EPA) Registrar General’s Department The Registrar General’s Department is the organization that registers all companies, societies

and institutions in Ghana and issues certificates of incorporation and commencement of business to newly formed companies. Ghana Investment Promotion Council Ghana Investment Promotion Council Act of 1994 governs foreign investment in Ghana and the GIPC was established under the Act as the government agency responsible for overseeing investments in all sectors of the economy except mining, petroleum, free zones and portfolio investments. Investments in the mining and petroleum sector are licensed by the Minerals Commission and the Ministry of Mines and Energy respectively whiles that for export processing zone and portfolio investments are administered by the Ghana Free Zones Board and Ghana Stock Exchange respectively. Ghana Immigration Service Ghana Immigration Service is the governmental authority that grants work and/or residence permit. It also handles re-entry visas, extension of visitors permit and visa on arrival to visitors in Ghana where there is no Ghanaian Embassy or consulate abroad. Internal Revenue Service and VAT Secretariat The Internal Revenue Service and the Value Added Tax Secretariat are the governmental agencies responsible for the collection of statutory taxes. Environmental Protection Agency Environmental Protection Agency is in charge of issuing the necessary environmental permits to companies operating in environment sensitive areas of various fields.

Investment Procedures The first step for an investor wishing to invest in Ghana is to register with the Registrar’s General Department. The department charges a fee of 0.5% of the company’s stated capital. The official processing time lies between three to five days, after which the company will receive the certificate of incorporation and certificate to commencement of business. After incorporation, companies that are partly or fully owned by foreigners have to register with the GIPC. Registration is completed after companies have met the minimum equity requirements depending on its structure as shown on the next page.

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Minimum Equity Requirement for Investment in Ghana

100% Foreign-Owned USD$50,000

Joint Venture USD$10,000

Commercial buses with seating capacity of above thirty passengers, workshop vans, breakdown vehicles, mobile showrooms, ambulances, hearse and motor bikes are also exempted from the payment of import duty.

All Trading Companies USD$300,000 The required equity can be brought into Ghana either in money or kind (goods, plant and machinery, vehicles or other tangible assets). Money can be brought in cash or transferred into the account of the incorporated company at a Ghanaian commercial bank. The bank must confirm the transfer to the Bank of Ghana, which subsequently informs the GIPC. Documents relating to equity in kind such as bill of lading, invoices and others which are confirmed by the Customs Excise and Preventive Service (CEPS) must be presented to GIPC. Depending on the field of operation of the company, additional registration may be necessary with other regulatory bodies. After registration with the GIPC, companies can apply for residence permit for their permanent expatriate employee. The number allowable depends on the amount of equity invested as shown in the table below. Paid Up Capital and Related Quota of Expatriate Staff

Paid Up Capital Required (US$) 10,000 - 100,000 100,000 - 500,000 500,000+

Quota of Expatriate Staff 1 2 5

Investment incentives and guaranties The GIPC Act provides for automatic incentives and benefits to investors in the areas of customs import duty, income tax, carry forward losses and investment guarantees.

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Customs Import Duty Agricultural and industrial plant, machinery and equipment imported for investment purposes are exempted from customs import duty. All import duty-exempted goods however, attract processing and/or other related fees or levies ranging between 0.5% and 1.0%, with the exception of goods imported specifically for the educational, health and agricultural sectors.

However, certain types of vehicles attract both import duty and value added tax of 12.5%, except ambulances. These are shown in the table below: Import Duty on Vehicles

Cylinder Capacity of Vehicle Less than 1900 1900 - 3000 3000 and more Commercial vehicles for the transport of goods such as trucks, tippers and lorries

Import Duty Rate (%) 5 10 20 5

Special equipment may be exempted from customs import duty and other related charges upon application to the GIPC. Income Tax Incentives A. Corporate Tax Residents in Ghana pay tax on income accruing in, derived from, brought into or received in the country, while non- residents are liable for tax on income accruing in or derived from Ghana. Corporate tax rates are detailed below: Corporate Tax Rates General Hotels Fully listed companies Post 2004 (first 3 years) Exports Financial Institutions in respect of income from financing Petroleum Operations

25% 22% 22% 8% 20% Not exceeding 50%

Investment & Legal Framework

After tax holidays, agro processing enterprises and manufacturers of cocoa by-products, attract different corporate tax rates depending on their location, as shown: • Accra and Tema - 20% • Other Regional capitals except Northern,Upper East and Upper West - 10% • Northern, Upper East and Upper West - 0% • Outside Other Regional Capitals - 0%

• Location Incentives: Companies operating in the manufacturing sector are entitled to tax rebates, depending on their location. Those operating in regional capitals other than Accra and Tema are entitled to a rebate of 25% whiles those in other locations other than the regional capitals, Accra and Tema attract 50% rebate. C. Capital Allowances Capital allowances (tax depreciation) are granted for depreciable assets owned by a person at the end of its basis period. There are six classes of depreciable assets on which tax depreciation is calculated and each class has its own depreciable rate. Class

B. Tax Exceptions • Tax holidays: Companies operating in different sectors are granted tax holidays from the start of operations in Ghana as shown in the following table: Tax Holidays

Free Zone Enterprise

First ten years of operation

Enterprises that pre-finance

First ten years of operation

Farming Enterprise: Tree Crop Livestock, Fish and Cash Crops Cattle

First ten years from first harvest First five years from commencement First ten years from commencement

Agro-Processing Business

First five years

Cocoa By-Products

First five years

Processing of Waste

First seven years

Capital Allowances

Class

Qualifying Assets

Depreciation Rate

Computers and data handling equipment

40%

Motor vehicles, construction & earth-moving equipment, heavy duty trucks, manufacturing plant and equipment, capital expenditure on long term crop planting

30%

Mineral and petroleum exploration and production rights, building and structures used in connection with 2(i) above, plant and machinery used in mining or petroleum operations

80% of the cost base of assets added to the pool during the balance of the pool, if any

Railroads cars, locomotives and equipment; water transportation vessels and equipment; aircraft; office furniture fixtures and equipment

20%

Building structures and works of a permanent nature

10%

Intangible assets Petroleum Capital Allowances

Life of asset/10% 20% Straight-Line

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Investment & Legal Framework

one to four assets are depreciated on a reducing balance basis. However, class three assets enjoy an additional 5% capital allowance in year 1 but this does not affect the tax written down value. Classes five and six are depreciated on straight line basis. The applicable capital allowance rates are as shown in the second chart of the previous page.

ratified are UK, China, The Netherlands, Denmark, Germany, The Swiss Confederation and Malaysia. The countries with whom agreements have been signed but awaiting ratification are La Cote d’Ivoire, Egypt, The United States of America (US), France, Zambia, Cuba, Yugoslavia, Mauritania, Guinea, South Africa, Benin, India and Burkina Faso.

Taxpayers are obliged to notify the Commissioner of Internal Revenue of any new assets acquired within one month after the assets have been used in the business. Unlisted capital allowances can be carried forward indefinitely but cannot be transferred either separately or together with a depreciable asset i.e. upon the sale or transfer of the asset.

Countries with agreements pending are South Korea, Canada, Pakistan, Ethiopia, Israel, Turkey, Jamaica, Nigeria, Belgium, Indonesia, Philippines, Mauritania, The Czech Republic, Australia, Singapore, Morocco, Togo, Finland and Spain.

Carry forward losses Losses from farming, mining, manufacturing mainly for export, agro – processing, tourism and ICT (Software Development) can be carried over and deducted for five years. Investment guarantees • Free Transferability of Capital, Profits and Dividends: an enterprise registered with the GIPC is guaranteed unconditional transferability in freely convertible currency of dividends or net profits attributable to the investment. This must be done through any authorized dealer bank. • Insurance Against Non-Commercial Risks: Ghana is a signatory to the World Bank’s Multilateral Investment Guarantee Agency (MIGA) Convention. This Convention guarantees coverage (insurance) against non-commercial risks such as transfer restrictions, breach of contract, expropriation, war and civil disobedience.

International Agreements Double Taxation Agreements Ghana has signed double taxation agreements (DTAs) with some countries to facilitate crossborder trade and investment and create an enabling environment for foreign direct investment in flows to Ghana and the respective countries. Currently, it has such agreements with France, The United Kingdom (UK), Belgium, Italy, Germany, Yugoslavia, and the Netherlands. Investment Promotion and Protection Agreements Ghana has signed Bilateral Investment Protection Treaties with twentyone countries. Currently, counties with whom the agreements have been signed and

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African Growth Opportunities Act (AGOA) Ghana has signed up to AGOA as a means to promote trade and investment between her and the US. The Government of Ghana initiated measures to encourage farmers and local exporters to take advantage of the opportunities offered by AGOA. One of such initiatives was the President’s Special Initiative (PSI) for cassava industrial starch, textiles, garment and apparel production for export. Smallscale businesses were resourced and trained to link up with the PSI companies to produce directly for the US. Ghana’s main export to the US consists of forest products, agricultural products, energyrelated products, minerals and metals, textiles and apparels, chemicals and related products, footwear, machinery, transportation equipment, and manufactured goods and electrical products. Exports are gradually increasing after it had declined in 2008 mainly due to the global economic recession.

Domestic Tax System The tax forms within Ghana’s tax system that relate to investors in the country are Income tax, Withholding tax, Capital Gains tax and Value Added tax.

Income Tax Income tax incentives are provided under the Internal Revenue Act, 2000 (Act 592) and further amended by Internal Revenue (Amendment) (No.2) ACT, 2006 (ACT 710). Depending on whether a company is listed on the Ghana Stock Exchange, the sector and the location in which it operates, it is liable to pay certain levels of tax. Taxable profits are based on profits declared in audited accounts subject to adjustments made for capital allowances. For details refer to income tax incentives discussed above under the GIPC Act.

Investment & Legal Framework

Withholding Tax All companies are obliged to withhold tax from specific payments to other persons or corporate bodies. The Withholding Tax include contract payments in excess of GH¢50 at a rate of 5% to resident dividends, at a rate of 8% to both residents and non-residents, management and technical service fees at a rate of 15%, royalties at a rate of 10% and interest at a rate of 8% to all non-residents.

Capital Gains Tax Capital gains tax of 5% is payable on gains accrued in or derived from the realisation (disposal) of chargeable assets in Ghana. This includes business and business assets, buildings, lands, rights or interests in stocks or shares, or other assets declared as taxable for capital gains tax purposes. Gains from agricultural land and securities of companies listed on the Ghana Stock Exchange are taxable. Exemptions from capital gain tax include: • Gains with a scrap value of GH¢50. • Gains derived by a company out of a merger, amalgamation or re-organisation where there is continuity of underlying ownership in the asset of at least 25%. • Gains resulting from transfers of ownership of asset to close relatives or to former spouses as part of a divorce settlement or separation agreement. • Gains used to acquire asset of the same nature within one year.

Value Added Tax The Value Added Tax Service (VAT Service) is responsible for the collection of VAT and National Insurance Levy (NHIL). However, the Customs, Excise and Preventive Service (CEPS), collects them on behalf of the VAT Service on imported goods. A VAT rate of 12.5% and NHIL rate of 2.5% is chargeable on all transactions that result in the production of goods or provision of services. The total rate of 15% is applied to the selling price or import value. No VAT is charged on exported goods or services. Companies obliged to pay VAT and exporters must register with the VAT Service. VAT paid by registered businesses on their purchases and expenses can be reclaimed. The actual amount of VAT to be paid to the

VAT Service is computed by deducting the VAT paid on own purchases and expenses from VAT charged on sales and services. Registered companies are obliged to file a tax return and pay VAT every month. Goods and services exempted from VAT are: • Food produced in Ghana and brought in its raw state • Petrol, diesel and kerosene • Equipment for agriculture and fishing • Housing (ownership and rental) • Transport fares • Financial services

Free Zone Export In line with government’s vision to boost economic growth through the private sector, it set up the Free Zones Programme in 1996 to promote processing and manufacturing of goods through the establishment of Export Processing Zones (EPZs). Two export processing zones (one in Tema near Accra and the other in Sekondi near Takoradi, the capital of the Western Region) has been established by the government of Ghana. A third one in Boankra near the Ashanti Region is being developed. The Ghana Free Zones Board (GFZB) was established under the Free Zone Act 504 (1995), to promote, facilitate, monitor and regulate investments under the programme. Every company can apply for a status of a single free zone company, provided it sells thirty percent of its products to the local market and exports seventy percent.

Incentives Companies in the Free Zone are totally exempted from payment of direct and indirect duties and levies on all imports for production and exports from free zones. There is also an exemption of income tax for the first ten years of operation and thereafter income tax rate is capped at eight percent. Furthermore, they are not required to obtain import licenses and are totally exempted from payment of withholding taxes from dividends and are relieved from double taxation for foreign investors and employees.

Import and Export Rules Exports Procedures and requirements for exporting goods from Ghana depends on the kind of goods exported.

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Exports are categorised into traditional and nontraditional exports. Traditional exports include cocoa, timber, gold, minerals and electricity. Non- traditional exports include agricultural products, fish, aluminium products and textiles. Exporters are required to register their companies with the Registrar General’s Department and GIPC to obtain a number. Exporters are also obliged to completed foreign exchange forms from the Bank of Ghana, Customs Entry forms and certificate of origin from CEPS. Permits or certificates must also be obtained from relevant institutions like the Ghana Standards Board.

Duty Drawback This gives an exporter the opportunity to receive a refund on import duties after he has re-exported previously imported products (Same-state drawback) or import duties paid on raw materials used in the production of finished goods and exported (Material drawback). The drawback process commences when goods have been duly re-exported and a Ghana Customs export document endorsed by the Customs authorities in both the exporting and importing countries or a “landing certificate” from the importing country (when required) is produced. An application form must be accompanied with the following documents • Certified copies of the import documents • Import duty payment receipts (certified copies) • Drawback Debenture Form (Form C3) • Statement of Composition Form (Form C2A) in case of Material drawback There is a twelve-month time frame beginning from the date of the first export in which the duty drawback can be claimed. It is advised that claims are put in quarterly. The Government of Ghana has established an escrow account with the Bank of Ghana into which monies are paid for the purpose of satisfying the duty drawback needs of exporters.

Temporary Importation of Goods Certain goods imported into Ghana can be conditionally relieved from the payment of import duties. Such goods must be imported for a specific purpose and must be intended for re-exportation within three months, either in the state in which it was imported or after having undergone specific processing or repair. Conditions to be met for the tax relief on temporary importation of goods include:

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• Goods must be declared at importation that they are imported only temporarily and will be subsequently re-exported. • A Form C59 must be filled • A cash deposit or a bond to cover the potential duty and tax liabilities (if any) must be given • Goods must be exported within three months or such further period as the Customs Officer may allow • Goods must not be disposed of in the country without prior permission of the Commissioner

USEFUL CONTACT INFORMATION Association of Ghana Industries Executive Director, PO Box AN 8624, Accra (+233) 30 2 779793, 779023-4 Bank of Ghana (BOG) The Governor, PO Box GP 2674, Accra (+233) 30 2 666174-8, 666361-5, 666902-8 Customs Excise and Preventive Service (CEPS) The Commissioner, PO Box 68, Accra (+233) 30 2668319, 666841 Environmental Protection Agency (EPA) The Executive Director, PO Box M 326, Accra (+233) 30 26 64697-8 Ghana Export Promotion Council PO Box M 146 Ministries, Accra (+233) 30 2 689889, 683153 Ghana Free Zones Board The Executive Secretary, PO Box M 626, Accra (+233) 30 2 780535, 785037, 785038 (+233) 30 21 74534 Ghana Immigration Service (GIS) The Director, Private Mail Bag, Accra (+233) 30 2 258250, 224445, 221667 674125, 213401 Ghana Standards Board The Executive Director, PO Box MB 245, Accra (+233) 30 2 500231, 500065-6, 506992-6

Investment & Legal Framework

Ghana Tourist Board PO Box GP 3106, Accra (+233) 30 2 682601, 682607, 682608 Internal Revenue Service (IRS) The Commissioner, PO Box 2202, Accra (+233) 30 2 675701–10, 665833 Minerals Commission The Chief Executive, PO Box M.248, Accra (+233) 30 2 771318, 773053, 772783 Ministry of Communications The Minister PO Box M42, Accra (+233) 30 2 685626, 685601 National Communications Authority The Director General, PO Box 1568, Cantonments, Accra (+233) 30 2 776621, 771701 Registrar General’s Department (RGsD) PO Box 118, Accra (+233) 30 2 664691-3 Value Added Tax (VAT) Service The Commissioner, PO Box 17177, Accra (+233) 30 2 661525-6, 2610030

MAIN COMPANIES KPMG Marlin House, 13 Yiyiwa Drive, Off Olushegun Obasanjo Way, Abelenkpe, Accra Tel: (+233) 03 02770454 / (+233) 03 02770618 Fax: (+233) 03 02771500 info@kpmg.com www.kpmg.com KPMG in Ghana is a leading provider of professional services including audit, tax and advisory. KPMG in Ghana has eight partners and 200 staff and is part of a strong global network of member firms. Their vision is simple - to turn knowledge into value for the benefit of their clients, people and the capital markets. In Ghana, They are committed to providing a robust

audit and are renawned for being thorough, committed and independent in their audit opinion. Their tax services help organizations and individuals to meet the highest standards of compliance. The company’s experienced professionals work with clients in areas such as International Corporate Tax, Business Tax, Indirect Tax and personal tax. KPMG has strong relationships with tax authorities and regulators and provides independent views on tax matters on behalf of their clients. They also assist clients with executive recruitment services and provide advice on compensation and benefits. The structure of their advisory services allows them to be very responsive to established, emerging and developing businesses. They have nine services lines that include Business Performance; Information Risk Management; Accounting Advisory; Corporate Finance, Financial Risk Management, Forensics, Internal Audit and IT Advisory. Their approach to engagements is centered on building teams that work to resolve issues facing their clients and are proactive in providing insight into the future challenges that they may face. “We are committed to our clients, our employees and our communities and we work together with our global values, built on a foundation of three pillars – Clients, People and Knowledge. These values define clearly what KPMG stands for, and are the guiding principles for how we manage our work, ourselves and our relationships”.

K-SAN LAW FIRM Charles Owusu Juanah Kwame Amoako Partners PO Box GP 21820, Anona House, C125 Subukwe Close Farrar Ave, Accra Tel: (+233) 30 2224779 Fax: (+233) 30 2224301 www.k-sanchambers.com admin@k-sanchambers.com K-SAN LAW FIRM uses a multi-disciplinary approach to legal practice. With a substantial corporate client base the firm is committed to the protection of the interests of its clients. They advise corporate clients on a variety

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of issues in a wide range of areas of law. K-SAN is setting the model and structures for modern legal practice in Ghana that other serious members of the profession will use as the benchmark for their own practices.

• Litigation before courts in Ghana • Advice to other law firms, government departments and other institutions • Legal Policy and Public Affairs Consultancy • Legal Training and Legal Publishing

The broad range of advocacy and advisory legal services that they provide include:

Mole Park Antelope

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THE GHANAIAN ECONOMY

Money is sharper than a sword Ghanaian proverb

The Ghanaian Economy

Ghana enjoys stable macroeconomic conditions and relative peace which are a sine qua non for sustained development.

Overview Ghana’s macroeconomic performance has in recent times been positive. This level of performance has been engendered by the prevalence of relative peace coupled with private sector competitiveness; human resource development; good governance and civic responsibility. The sound macro-economic management along with high prices for gold and cocoa helped sustain GDP growth in 2008 and 2009. Ghana is therefore considered a beacon of hope for Africa as it continues to champion the course of good governance and sound economic management.

Economic Growth Ghana’s economy is seeing significant progress which is underlined by the relative political stability and macroeconomic reforms. The improvement in the economy has engendered an influx of foreign investments of various forms as well as a gradual increase in middle-class professionals.

Contribution to GDP Although Ghana’s economy has for a long time been dominated by the agricultural sector, the industrial and services sectors are developing with increased political stability and government support. At the end of 2009, the composition of GDP on a sector by sector basis denoted that agriculture constituted

33.6%, industry 25.1% and services 41.2%. These contributions to economic growth are expected to continue to improve especially with the discovery of major offshore oil reserves in Ghana. Aside this, the determination of the government to develop an integrated oil industry alongside existing industries like agriculture and mining is also largely expected to boost the economy. Presented in the table below are the key macro-economic variables for Ghana from 2004 to 2009.

Cost of Living Inflation has been on a downward trend since it peaked at 20.7% in June 2009. This fall in inflation, according to the Monetary Policy Committee of the Bank of Ghana, has been driven by both non-food and food inflation. Inflation as at January 2010 was 14.78%, it reduced marginally to 14.22% in February 2010 and then to 13.2% in March 2010. Ghana recorded its lowest inflation for the last decade in the month of June 2010 at the rate of 9.52% and this is expected to reduce further as the Government pursues its policies to achieve the set target range of 7% - 11% by the end of the year. The diagram on the next page shows the trend of inflation from January 2009 to June 2010.The table on the next page indicates forecast inflation rates for the years 2010 to 2013.

Bank of Ghana Policy Rate and Interest Rates The policy rate has been on a steady decline for the 2010 fiscal year. Fiscal tightening and the relative

Macro-Economic Indicators 2004

2005

2006

2007

2008

2009

GDP at market prices (US$bn)

8.8

10.6

12.4

15.0

16.7

14.8

GDP per capita: market prices (US$bn)

433

509

581

683

739

639

Real GDP growth (%)

5.8

6.2

5.7

7.3

4.5

Population (millions)

20.4

20.9

21.4

22.0

22.5

23.1

Consumer price inflation (Average)

12.6

15.2

10.9

10.7

16.5

19.3

Bank of Ghana Prime Rate (%)

18.5

15.5

12.5

13.5

17.0

18.0

0.905

0.913

0.924

0.970

1.214

1.391

Average exchange rate (GH¢/USD)

Source: Bank of Ghana Annual Report 2008, Ministry of Finance Website & KPMG Analysis Shaded Portion: IMF Estimates (World Economic Outlook Database, October 2009)

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The Ghanaian Economy

Trend in Exchange Rate Movements

25% 20% 15%

Units

10% 5% 0% n Ja

´0

b Fe

´0

r Ma

´0

r Ap

´0

y Ma

´0

n Ju

´0

l Ju

´0

g Au

´0

p Se

Parameter

2010

2011

2012

2013

Inflation (average)

10.15

8.43

4.45

5.00

9.21

8.00

5.00

Source: IMF Country Data on Ghana (World Economic Outlook Database, October 2009)

stability in oil prices together with better crop yields have resulted in a reduction of inflation (CPI) from 20.5% in March 2009 to 9.52% in June 2010. The trend in inflation led to the lowering of the policy/prime rate by 200 basis points to 16% in February 2010 and as at the end of the first half of 2010, the MPC had reviewed its policy rate further down to 13.5%. The impact of this trend on cost of borrowing has been positive. It has led to many of the banks in Ghana to reduce their base rates to between 24.7% to 32%.

Exchange rates The first half of 2009 saw a Ghanaian cedi that continued to depreciate against the major foreign currencies; US Dollar, British Pound and Euro. Currently, the exchange rate of the cedi to the US dollar ranges between GH¢1.45 to GH¢1.50. In 2008, the cedi depreciated against the US dollar by 22.17% which was the highest rate after it depreciated by 49.9% in 2000. (source: B&FT). Presented below is trend of exchange rate movements January 2004 to July 2010.

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t Oc

´0

v No

´0

c De

´0

n Ja

´1

b Fe

´1

r Ma

´1

r Ap

´1

y Ma

´1

n Ju

´1

Source: Ministry of Finance

Employment

Forecast Growth - Inflation

Inflation (end-of-year)

´0

Ghana’s population is estimated to have grown by about 1.928% to 23,382,848 at 2009 since the last census in 2000. Constituted in this is an economically active population estimated at about 10.33 million (Source: IMF, World Economic Outlook Database, October 2009). The current minimum wage stands at 2.655 GH cedis which is generally considered low compared to that of the ECOWAS sub-region. Government is embarking on a wage policy reform and has agreed with labour on the implementation of the Single Spine Pay Policy, effective July 2010. This is to implement new comprehensive pay policy and structure, spearheaded by the Fair Wages and Salaries Commission, in order to reduce the pay administration fragmentation and pay disparities that currently exists. Jobs from the different service classifications will be mapped for the first time to a single pay spine. Job evaluation will identify equivalent job values across the service classifications and enable the establishment of appropriate pay ranges which will provide the foundation for bringing more equity considerations into pay awards and negotiation. This outcome will be measured by the implementation of new pay salary ranges, by the completion of all wage negotiations earlier in the financial year, and by the proportion of public sector workers paid in accordance with the unified pay spine. (Source: World Bank).

Balance of Payments Ghana’s balance of payments improved significantly over the first three quarters of 2009, recording an

The Ghanaian Economy

overall deficit of USD$29.5 million, compared to a deficit of USD$716.8 million in the first three quarters of 2008. The satisfactory performance was due to a sharp improvement in the current account which narrowed from a deficit of USD$1,030 million in the first three quarters of 2009, compared to a deficit of USD$2,730 million during the same period of 2008. There was marked improvements in the trade deficit from almost USD$3,759.4 million recorded in the first nine months of 2008 to USD$1,773.8 million, showing a marked improvement.

Exports Export earnings are provisionally estimated at USD$4,229.7 million in the first three quarters of 2009, reflecting a 3.8 per cent increase over the 2008 level. The increased revenue from exports was accounted mainly by price. Increases in the country’s major exports were mainly cocoa beans and gold. The value of exports of cocoa beans increased from USD$976.9 million in the first three quarters of 2008 to USD$1,061.2 million in 2009 mainly on account of an increase in export prices. Although the average realized prices increased by 30.2 per cent, export volumes declined by 16.6 per cent to 382,424 tonnes, from 458,426 tonnes in 2008. Export of cocoa products increased by 23.7 per cent in the first three quarters, from USD$175.3 million in 2008 to USD$216.8 million in 2009. Gold exports registered a marginal growth of 3.5 per cent during the first three quarters of 2009, raising revenues to USD$1,812.0 million. Whilst the exported volume of the metal remained almost stable at 1.9 million fine ounces, average realized prices increased by 3.0 per cent from USD$889.6 per fine ounce in 2008 to USD$916.3 per fine ounce in 2009. On the other hand, timber export revenues declined from USD$234.8 million recorded in the first three quarters of 2008 to USD$168.6 million over the same period in 2009. The decline was reflected in both export volumes and prices by 24.3 per cent and 5.1 per cent, respectively. Export volume during the first three quarters of 2009 was 319,988 cubic metres, compared to 422,663 cubic metres in 2008. Average prices significantly fell to USD$526.91 per cubic metre in 2009 compared to USD$ 555.4 per cubic metre in 2008.

Imports The value of imports declined by 23.4 per cent from USD$7,834.1 million in 2008 to USD$6,003.5 million in the first three quarters of the year. Total oil imports are estimated at USD$1,083.9 million compared with USD$2,017.6 million in 2008, reflecting a drop of 46.3 per cent. The value of crude oil imports declined substantially from USD$1,1190.1 million in 2008 to USD$294.8 million over the period, partly on account of lower prices. Non-oil imports declined by 15.2 per cent, from USD$5,816.5 million in 2008 to USD$4,919.6 million in 2009. Imports of capital goods fell by 25 per cent, intermediate goods by 11.3 per cent and consumption goods by 12.9 per cent.

International Reserves Gross international reserves rose from a stock USD$2,036.2 million at the end of 2008 to USD$2,317.1 million at the end of September 2009. This translates into a cover for 2.4 months of imports of goods and services. The Balance of Payments projections point to a further improvement on account of the impact of the projected cocoa loan drawdown and expected donor disbursements of USD$275 million in the fourth quarter of the year. Gross international reserves are projected at USD$2,727.0 million for end 2009, enough to cover 2.5 months of imports of goods and services, compared to 2.1 months of import cover at the end of 2008. The domestic economy continues to revolve around subsistence agriculture, which accounts for 35% of GDP and employs 55% of the work force, mainly small landholders. Public sector wage increases and regional peacekeeping commitments have led to continued inflationary deficit financing, depreciation of the Cedi, and rising public discontent with Ghana’s austerity. Furthermore, according to the World Bank, Ghana’s per capita income has barely doubled over the past 45 years. Even so, Ghana remains one of the more economically sound countries in all of Africa. Consequently, we may say, that in the last eighteen years the economy has experienced a real average growth of 3.9%, allowing a 3% expansion of the real GDP per capita and supposedly reaching USD$3,610 per person in 2008, thus, placing itself as an economy of average growth according to the World Bank standards.

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FINANCE

No one tests the depth of the river with both feet Ghanaian proverb

Finance Overview In line with the country’s goal of achieving middle income status by 2015, Ghana has been undergoing a process of financial sector restructuring and transformation as an integral part of its Vision 2015 strategy. Prior to 2003, the Bank of Ghana operated a threepillar banking model with all banks licensed as either development, merchant and commercial banking. In February 2003, the Bank of Ghana introduced Universal Banking which allowed the banks to undertake commercial, development, merchant or investment banking without requiring separate licences. This has levelled the playing field, and opened up the banking system to competition, product innovation and entry. To operate under the UBBL, existing banks must have a minimum net worth of ¢70billion (excluding statutory reserves), and new banks should have a paid-up capital of ¢70billion. Banks are required to hold 9% of the cedi and forex deposit base with BOG on daily basis as primary reserves and 35% of their deposit base in cedi denominated assets as secondary reserves. The Government of Ghana Index-Linked Bonds (GGILBs) was introduced in 2001, which as part of the reserve requirements converted Government of Ghana (GoG) short-term liabilities into long-term loans. BoG requires banks to hold 15% of their total deposits in GGILBs. The GGILB is now being phased out by the new 2nd and 3rd year fixed or floating bonds. Currently, there are 19 banks operating in the formal banking sector under different banking licenses with Standard Trust Bank Limited being the latest addition. Liberalizing entry and encouraging foreign banks and investors in the financial services industry has increased competition in the banking industry as well as the introduction of strong business practices, technology, products, and risk management systems. Since 2002, six banks have entered the Ghana market. They are Zenith Bank Limited, United Bank of Africa, Guaranty Bank Limited, Intercontinental Bank Limited, Fidelity Bank and Access Banks. Presently the banking industry has grown into 26 banks. The current licensing policy of the Bank of Ghana is to limit entry of foreign banks to truly internationally active financial institutions.

Minimum Capital Requirement The Bank of Ghana has proposed an increase in the minimum capital requirements of banks from GH¢7.0 million to between GH¢50-60 million. The proposed minimum capital requirements for deposit taking nonbanking financial institutions (NBFIs) and finance houses is an increase from GH¢1 million to between GH¢5-8 million. Banks and deposit taking NBIFs are expected to submit capitalization plans by the end of June 2008. Submission of capitalization plans would guarantee continued access to the settlement and primary dealership systems. After December 2008, participation in the settlement system will be restricted to institutions that have met the capital requirements. To ensure an orderly consolidation, the banking system would allow for lower tier banks after December 2008. Banks that do not meet the capital requirements will belong to the lower tier. Banks and NBFIs granted licenses or provisional licenses within the last six months to date are required to meet the new capital requirements within two years from the date of operations. New licenses for banks, deposittaking NBFIs and Finance Houses would henceforth only be issued to banks that meet the new minimum capital requirements. The Bank of Ghana intends to continue with its current policy of issuing bank licenses only to internationally active banks.

National Switch The Bank of Ghana has established a National Switch (E-ZWICH) to allow the establishment of a common platform for all payments transactions in the country. This would result in the integration of all existing bank switches and allow banks that do not have switches (e.g. ARB Apex Bank) to join the common switch at significantly reduced costs. It would also allow the interoperability of all ATMs and the settlement of payments transactions by customers of different banks at Points of Sale (POS). The national Switch has the capability to deal with transactions that take place online (in places with telecommunications) and offline (i.e. where telecommunications are not present, e.g. in some rural areas). This is a major departure from existing systems and has been made possible by the Universal Electronic Payments (UEPS) technology.

Bills of Exchange Act Ghana is essentially a cash-based economy with embedded high transaction costs. In recognition

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Finance

of this, the Bank of Ghana is undertaking reforms in the legal, institutional, and infrastructural framework of the payment system to make the Ghanaian financial system modern and competitive. A draft bill known as the Bills and Cheques Bill is now before Parliament. It is expected to replace the Bills of Exchange Act when passed. The draft bill provides for electronic presentment of cheques and amends various sections of the Bills of Exchange Act to bring it in line with current business trends and practices.

National Biometric Switch The Bank of Ghana introduced National Biometric Smartcard (The E-ZWICH card). This is expected to address the shortcomings of existing debit cards which cater to only a small fraction of the population because of its features of accessibility; low transaction costs; limited infrastructure needs; personal safety; security; convenience; and simplicity.

Credit Reporting Act

Automatic Clearing House

Other Key Issues

The Bank of Ghana is introducing Codeline Cheque Truncation to allow very fast cheque clearing as well as the Automated Clearing House (ACH) for the clearing of electronic debits and credits. The process of direct debit does not exist presently in Ghana because of the absence of an ACH.

Several bills have already been passed or are in the process of being prepared. These include the Anti-Money Laundering Bill, the Credit Union Bill, the Insurance Bill, and a new Insolvency Bill (Bankruptcy law). Work is also ongoing regarding the Borrowers and Lenders and a new Non-Bank Financial Intermediaries (NBFI) bills which are expected to be passed in 2008. These reforms when implemented would represent a major transformation of the financial services sector. The Passage of the Banking Amendment Act, 2007 resulted in the issue of the first offshore banking licence to Barclays Bank this year.

Central Securities Depository The Bank of Ghana has established a Central Securities Depository (CSD). The CSD makes it possible for records of ownership of individual securities to be maintained centrally as well as at the respective primary dealers. This should reduce the risks to investors that arise from possible poor record-keeping or any dealer malfeasance.

Ghana Interbank Payment and Settlement System The Ghana Interbank Payments and Settlement System (GHIPSS) is a limited liability company set up to bring all the various aspects of the payments system infrastructure under a single entity. This is to allow more efficient and coherent management and

oversight. The business of GHIPSS includes the following: • National Switch and Smart Card Services • Cheque Clearing • Codeline Cheque Truncation • Real Time Gross Settlement System (RTGS) • Central Securities Depository (CSD) • Automated Clearing House (ACH) All banks are required to be members of GHIPSS either directly or through member banks. This means that all banks have to be members of the national switch and smartcard, ACH, RTGS, etc.

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The Credit Reporting Act (Act 726) was enacted in 2007 to enhance credit risk management by the banking system. The purpose of the Act is to provide a legal and regulatory framework for credit reporting in Ghana. As at the end of 2009, two credit bureaux had been licensed to begin operation.

Capital Markets Investor confidence in Ghana’s capital market has been on rise over the past decade. Currently, there are about 27 listed companies, 10 brokerage firms, 5 mutual funds and 1 unit trust companies on the GSE. A level playing ground has been set by the Securities and Exchange Commission (SEC) to protect the interest of investors and all other parties.

Demutualisation The objective to demutualise the Ghana Stock Exchange (GSE) stems from the current structural

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constraints that are faced by the GSE as a non-profit organisation. Thus, demutualising GSE is aimed at fostering greater diversity of ownership which will allow for an enhanced public representation in the governance of the Exchange as well as remain competitive and responsive to the demands of its market constituents. The strategic plan for the demutualisation of the GSE was completed in 2009 and the final report was submitted to GSE for review and finalisation.

Automation Activities towards the automation commenced in 2007. In this light, the GSE Securities Depository Company Limited was incorporated and commenced operation in November 2008. About 37,000 accounts were opened in the depository as at the end of 2009 and migration of shares was still ongoing. With the GSE now resourced, the expected ATS, the Electronic Clearing/Settlement and the Depository system which went live in November 2008, dealers now have access to trading from the Exchange’s Trading Floor; the offices of Dealers; and through a secured internet facility at any location. The automation of the trading platform has huge prospect in enhancing the liquidity on the market as well as improve trading on the Exchange. Aside that, it is expected that the automation system will also enhance the bond market which is gradually gathering momentum as well as GSE’s move to develop a programme that will help lure SMEs to list on the Exchange.

MAIN ENTITIES BANK OF GHANA

CAL Bank commenced operations in July 1990, and is considered to be one of the most innovative banks in Ghana. The Bank mobilizes resources in world financial markets, and channels them to the Ghanaian market. In this way, CAL Bank supports the development of the national economy, focusing particularly on the manufacturing and export sectors. With its highly skilled professional staff, CAL Bank plays an important role in the Ghanaian financial sector by providing wholesale banking services to corporate clients with sound financial bases and competent management. Emphasis is placed on the economic viability and technical feasibility of each project, as well as the marketability of the client’s products and services. Having recently acquired a Universal Banking License in 2004, CAL Bank has significantly developed its retail banking operations with specialized products and services to cater for the retail market. To complement retail banking and in line with its expansion programme, CAL Bank has developed a network of over 40 ATM’s and 13 branches and is in the process of opening several branches in major cities and business districts in Ghana.

HFC BANK GHANA LTD Mr. Asare Akuppe Managing Director PO Box CT 4603, No. 35, Sixth Avenue, North Ridge, Cantonments, Accra Tel: (+233) 30 22420904 Fax: (+233) 30 2242095 www.hfcbank.com.gh hfcomp@hfcbank.com.gh

CAL BANK - GHANA LTD

HFC Bank (Ghana) Limited (formerly Home Finance Company) was licensed as a mortgage financing institution to implement the IDA/SSNIT Pilot Housing Finance Programme in Ghana. HFC was incorporated on May 7, 1990 under the Ghana Companies Code 1963 (Act 179) as a private limited liability company. The Company commenced business on December 2, 1991 and was licensed by the Bank of Ghana as a non-bank financial institution on August 1, 1994.

Mr. Frank Brako Adu Jnr. Managing Director PO Box 14596, Independence Avenue, Accra Tel: (+233) 30 2680061 Fax: (+233) 30 2680081 / (+233) 30 2680083 www.calbank.net / info@calbank.net

HFC was converted to a public limited liability company on October 5, 1994 and got listed on the Ghana Stock Exchange on March 17, 1995. The objectives of the institution included the overall program development and management of a new housing finance system being implemented under an International

Mr. K.B Amissah Arthur Governor PO Box GP 2674, The Governor, Accra Tel: (+233) 30 2666174-8 / Fax: (+233) 30 2662996 www.bog.gov.gh / bogsecretary@bog.gov.gh

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Finance

Development Association (World Bank affiliate) project. On July 7, 1993, HFC incorporated a wholly owned subsidiary company, Home Finance Investment Fund (HFIF) to undertake the business of an investment company. In October 2001, HFIF changed its name to HFC Investment Services Limited (HFC ISL) in order to offer a broader range of investment services. In August 1994, HFC-ISL established the first Real Estate Investment Trust, HFC REIT in the country. On September 17, 1996, HFC issued the first corporate bond (HFC Housebond) on the Ghana Stock Exchange with a shelf registration of USD$35 million to finance foreign currency mortgages. On July 30, 2001, the Bank of Ghana issued HFC with a deposit taking authorization and finally on November 17, 2003 the Bank of Ghana finally issued HFC with a Universal Banking License culminating in the company changing its name to HFC Bank (Ghana) Ltd.

NDK FINANCIAL SERVICES Mr. Oko - Nikoi Dzani Chairman PO Box 3387, The NDK Building, No. 1 Rev. Hesse Street, Osu, (Opposite the Ohene Djan Sports Stadium), Accra Tel: (+233) 27 61802-4 Fax: (+233) 27 61805 info@ndkfinancialservices.com The oldest company in the Finance House category of the Non-Banking Financial Services industry in Ghana, NDK began operations in 1991, prior to the enactment of the Financial Institutions (Non-Banking Law) of 1993 – PNDC 328. The company has played a leading role in spearheading discussions and providing invaluable input for many of the laws and regulations that govern the non-bank industry. NDK continues to assist the Bank of Ghana in improving the Non-Banking law and the regulations under which all Non-Bank Institutions operate. In 2007 NDK underwent a strategic reorientation process. Major changes in internal structures and processes were initiated to ensure that the Company was poised to meet the changing needs of its customers. NDK increased its investment in the company’s human capital and upgraded its technological systems in order to improve the quality of service offered to its clients. The outward manifestation of the changes resulted in the redesigning of a new corporate visual identity.

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NDK’s new logo represents the renewal of the company’s commitment to innovation and its dedication to results. NDK has renewed its commitment to its brand promise, its corporate values and its priority to understand its customers in order to better serve them. In the competitive challenging economic landscape of today, financial assistance in the form of loans, investment options and advice is a necessity for business growth and prosperity. NDK is able to meet the changing needs of our customers and is interested in collaborating with our clients to provide them with tailor-made financing solutions.

STANBIC BANK GHANA LTD Mr. Andani Alhassan Managing Director PO Box CT 2344, Valco Trust House, Castle Road Ridge, Accra, Ghana Tel: (+233) 30 2687670 / (+233) 30 2687678 Fax: (+233) 30 2687669 www.stanbic.com.gh stanbicghana@stanbic.com.gh Standard Bank Group is a global bank with African roots. It is South Africa’s largest bank, distinguished by its extensive operations in 17 African countries. Outside the African continent, Standard Bank Group operations span to 16 countries, with an emerging market focus. Their customers benefit from their knowledge and expertise in emerging markets, coupled with their global outlook. Standard Bank Group is listed on the JSE Limited, share code SBK, and the Namibian Stock Exchange, share code SNB. The group had total assets of over R1 320 billion (approximately USD$173 billion) at 30 June 2010 and employed more than 52 000 (including Liberty) people worldwide. Standard Bank’s market capitalisation at 30 June 2010 was R162 billion (approximately USD$22 billion). The Group has played a central role in the development of the Southern African economy for more than 145 years. It has done this by constantly aligning its presence in the market place with the evolving needs of the region’s economies, and delivering relevant banking and financial services. Their three main pillars of business are Personal and Business Banking, Corporate and Investment Banking, and Wealth. Across these areas, our staff aspires to provide our customers with

Finance

bespoke banking solutions. As part of the recent structural re-alignment of the business, they have identified opportunities to leverage off they existing infrastructure and specific country knowledge across emerging markets. The group upholds high standards of corporate governance and is committed to advancing the principles and practice of sustainable development. Their success and growth over the long term is dependent on making a difference in the communities in which they operate. The Trust bank (TTB) was incorporated on 3rd October 1996 and commenced business on 14th October 1996 to provide universal banking services to its valued customers. Operating for a decade, TTB has undergone a lot of strategic transformations to become more competitive in its chosen markets.

THE TRUST BANK GHANA LTD Mr. Larry Yirenkyi-Boafo PO Box 1862, 68 Kwame Nkrumah Avenue, Adabraka, Accra Tel: (+233) 30 2222407 / 30 2230403 / 30 2230416 Fax: (+233) 30 2240056 rust@ttbgh.com www.thetrustbank.com.gh The Trust Bank is highly dedicated to serving and assisting its customers, with domestic and foreignrelated activities, in their roles as exporters, importers, manufacturers, intermediaries, investors or private individuals. By means of its close working relationship with its principal foreign and local shareholders/partners, the bank provides a bridge between Europe and Ghana. Locally, the bank also draws upon its dedicated team of local product specialists supported by the recognized Knowledge and expertise of the Fortis group in the area of Corporate Banking, Private

Banking, Correspondent Banking, Merchant Banking and Financial Markets. The majority of TTB’s customer value is provided by Small & Medium size Enterprises, the corporate segment, the Middle-class Individual as well as a selected group of institutions (bank and non-bank). Since they provide the core of our activities, TTB concentrates its managerial efforts and available financial means on growing and expanding these core businesses.

UT FINANCIAL SERVICES LTD Mr. Prince Kofi Amoabeng PO Box GP 14776, Opposite Ghana Heavy Equipment Lt, Kwame Nkrumah Ave, Accra Tel: (+233) 21 610300 Fax: (+233) 21 780593 www.utfinancialservices.com Ut Financial Services Ltd (formerly Unique Trust Financial Services) is the leading non bank financial institution in Ghana specialising in loans and investment. The company which has recently been voted Ghana’s Most Respected Company has for the past decade committed itself to serving the needs of indigenous traders and business entities not being catered for by the Traditional Banks. From humble beginnings as a privately owned company in Ghana, UT has evolved into a publicly owned company with shares listed and actively traded on the Ghana Stock Exchange. The initial focus of UT was centred on servicing the “unbanked” informal sector, but over the past few years, UT’s services have extended to cover the formal sector and providing stop gap loans and trade financing to SME’s. What sets UT apart in the financial services market is their solid business structure, flexibility and timely delivery of financing to clients in less than 48 hours.

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ENERGY

The Moon moves slowly, but it crosses the town Ghanaian proverb

Energy Overview

HYDROPOWER

The energy sector plays a pivotal role in the development agenda of Ghana. With the advent of the post-colonial era, the energy sector was envisioned to be a major driving force in the transformation of the economy from one largely sustained on the wheels of subsistence farming to one that is fully industrialized. This began with the construction of the hydro-electric dam at Akosombo, a major initiative by the then CPP government which opened up the economy and the energy sector in particular to the exploitation of the power-generating potential of the country. Subsequently, other forms of energy have been tapped including renewables, nuclear energy and fossil fuels.

Ghana has made significant strides in maximizing its hydropower potential which is pegged at about 4,000 megawatts. Aside the construction works on the 400 megawatts Bui Hydroelectric Project, the Government of Ghana has also signed a Memorandum of Understanding (MOU) with the Brazilian Government for the development of Juale River and Pwalugu hydro power plants at the cost of USD$555 million with a generating capacity of 87MW and 48 MW respectively. The construction of the hydro-dams forms part of the planned system generation expansion under the Energy Commission’s Strategic National Energy Plan-SNEP- covering the period between 2006 and 2020. This also includes the construction of the 93MW Hemang hydroelectric power dam which is expected to be completed by 2015.

In this light, government’s overall goal for the sector has been to develop and sustain an efficient and viable energy sector that provides secure, safe and reliable supply of energy to meet Ghana’s development needs in a competitive manner. This is to assure a universal access and choice of modern energy forms to all Ghanaians without exception thereby contributing significantly to national revenue and economic growth by becoming a net exporter of oil and power by 2012 and 2013 respectively. Thus, Ghana’s energy sector can be classified into power and petroleum sub-sectors.

POWER GENERATION Traditionally, woodfuel continues to provide a significant source of energy to many households in Ghana consisting of about 70 percent of Ghana’s energy consumption. This consumption level has engendered the creation of sustainable energy development in the country through proper management and the use of an alternative to wood charcoal through the use of bamboo. However, Ghana’s power supply sources are mainly from hydro-electricity, thermal from light crude oil and a small percentage from photo-voltaic solar. The objective of the Government is to achieve a target of 5,000 MW of installed power generation capacity by 2015. This level of capacity is believed to enable Ghana to supply adequate electric power to meet the growth in national electricity demand and also for export to our neighbouring countries. In this light, Government’s outlook for 2010 is focused on upgrading the transmission and distribution systems while scaling up rural electrification to ensure increasing access to electricity by household and industry.*2010 Budget Statement

Akosombo Power Plant Upon completion of all the power plants under construction, the country’s total installed power generation capacity would reach 3,500 megawatts by 2013. Currently, electricity consumption in the country is estimated at 7.095 billion kilowatt hours (kWh), while production capacity is pegged at 6.489 billion kWh. The demand for power consumption in the country is expected to grow at 7.6% over the next five years. The policy objectives of the expansion programme are to ensure security of electricity supply, minimum negative environmental impacts in electricity supply and to ensure universal access to affordable electricity service.

RENEWABLES Ghana has huge potential for electricity generation from renewable energy sources such as solar, wind, biomass and small hydro. To maximise this, steps are being taken by Government to provide the necessary legal basis for the rapid development of renewable energy in the national energy mix by establishing a Renewable Energy Law as part of meeting the objective of security of supply of energy. Also, a combination of technical and regulatory instruments will be enshrined in the law to compel utility companies to procure a predetermined percentage of their electricity supplies from renewable energy sources. To consolidate its search for strategic energy solutions, government facilitated the preparation of a training manual for Solar PV testing, installation and maintenance.

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Energy

To further build capacity, Government also facilitated the development of training and testing materials and testing facilities in Tamale Polytechnic and Kwame Nkrumah University of Science and Technology (KNUST) for human resource development in Solar PV. In addition, Government played a major role in the signing of a protocol on off-grid solar electrification for security outposts, schools and health centers. An operational manual for providing matching grants to support renewable services by the private sector was also developed and Solar PV systems installed in 75 rural health posts.

Goldfields Ghana, Anglogold-Ashanti, and Golden Star Resources) only in load-shedding situations.

Going forward the Government of Ghana envisions to further promote renewable energy technologies (solar, wind and mini hydro), solar electrification project in schools, security service and health centres. In addition, Government intends to training more personnel on solar PV systems as well as implement grid-connected solar PV and wind systems, rehabilitate grid-connected solar system and develop licensing and monitoring framework for the electricity industry.

The refurbished Osagyefo Power Barge adds to energy generation mix of the country. This was carried out by Balkan Energy Company LLC, a US-based Energy Company which partnered the Government of Ghana to operationalise the Osagyefo power barge. Balkan Energy entered into a 20-year agreement with the government of Ghana to run the barge and it is expected that Balkan Energy would convert the barge into a combined cycle power plant with an incremental capacity of 60MW at a cost of about USD$100 million. The company would also pay the Government of Ghana a yearly lease of USD$10 million from the beginning of the 6th year to the 12th year. The agreement shall be reviewed every five years. This aims to augment the Akosombo and Kpong Hydro-electric Power Plants as well as the Aboadze Power Plant and a few others as a means to address the power challenges of the country. The barge, which is expected to generate 185 megawatts of power, is a dual fired unit which can operate on diesel as well as natural gas.

THERMAL POWER The inclusion of thermal power in Ghanaâ&#x20AC;&#x2122;s energy mix has been further boosted with two new plants in Tema. The 126 megawatts Tema Thermal 1 Power Project (TT1PP) is now fully operational after being commissioned in 2009. Other ongoing activities include the installation of 49.5 megawatts Tema Thermal 2 Power Project (TT2PP) which is 95 per cent complete. This adds to TAPCO- Takoradi I (330MW) and TICO- Takoradi II (220KW). In January 2010, expansion works commenced on the Takoradi Thermal Power Plant at Aboadze in the Shama District of the Western Region. The 132-megawatt capacity combined cycle plant will consist of four gas turbines, four heat recovery steam generators and two steam turbines. The gas turbines will run on light oil, diesel oil and natural gas. Also, an MoU has been concluded with TAQA, a United Arab Emirates-based company, to carry out the expansion of the Takoradi International Company (TICO) power plant from 220 MW simple- cycle plant to a combined-cycle plant of 330 MW. The 80 megawatt Mines Reserve Power Plant, which was constructed at a cost of more than USD$45 million in June 2007, has been made available to the VRA to supplement any energy generation shortfalls in the country. This was previously used by four mining companies (Newmont Ghana Limited,

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The 126MW Emergency Diesel Power Units which were purchased by Government were largely unused owing to high cost of operation. Additionally, work is soon to commence on the 132MW combined-cycle power project which will be sited near the VRA Thermal Power Plant in Aboadze.

OSAGYEFO POWER BARGE

Private Sector Initiatives in The Energy Sector The current regime of power production is receiving an active involvement of Independent Power Producers (IPP). The Asogli Power Plant, for instance, which is a full private sector financed power plant of 200 MW capacity, has been completed and awaiting the availability of natural gas to commence operation. On the expansion of Tema Thermal Power Plant, VRA has concluded an agreement with Tema Osonor Power Company, an IPP to expand the plant by 126 MW and ultimately into a combined-cycle facility with a total capacity of about 330 MW. Beyond the existing plants, a total of 1,611.5 MW of capacity is currently under construction by Government and Independent Power Producers while other plans have been initiated to increase power generation capacity in the country.

Energy UPSTREAM OIL AND GAS PROSPECTS Ghana’s oil and gas prospects are significant. Indeed, it is believed that Ghana’s oil and gas resources stretches across the country’s shoreline. The Voltain Basin, which covers over 40% of the country’s land mass, is believed to have oil and gas reserves. This Voltain Basin is yet to be fully explored. Recent appraisals completed on three of the discoveries in the Jubilee Field, indicate that the field contains expected recoverable reserves of about 800 million barrels of light crude oil, with an upside potential of about 3 billion barrels. The Jubilee Field will be developed in phases with the aim of ensuring that gas is not flared. During the first phase which is to be completed by 2010, the daily production would be about 120,000 barrels of oil and about 120 million cubic feet of gas. The second phase will be carried out between 2010 and 2012 and will lead to a daily production of 250,000 barrels and 250 million cubic feet of gas. The discoveries have elicited great interest in Ghana’s oil and Gas prospects. Currently there are eleven Petroleum Agreements operating in the country at different stages of exploration or development.The government intends to accelerate the process of acquisition of blocks in the Ghana sedimentary basins in order to fully and speedily delineate the country’s oil and gas potential.

DOWNSTREAM DEVELOPMENTS It is the government’s intention to ensure increased local refining capacity to meet both domestic demand and exports. Currently, about 60 percent of domestic demand can be met by the Tema Oil Refinery. To bring refining capacity to acceptable levels, there is the need to expand the capacity of TOR and also improve its operations. About USD$300 million is needed to be invested in TOR to increase its capacity by about 100,000 barrels per stream day from its current level of 45,000 BSPD. About USD$683.5 million is to be injected into the operations of the Bulk Oil Storage and Transportation Co Ltd (BOST), in the medium term period up to 2015, to improve bulk transportation of petroleum products especially to the northern parts of the country. Government intends to encourage the Oil Marketing Companies (OMCs) to increase the number of service stations to ensure improved access to petroleum products in the country. The current administration of Premix fuel is being reviewed.

INSTITUTIONAL DEVELOPMENT: ESTABLISHMENT OF PETROLEUM REGULATORY AUTHORITY The draft Bill to regulate the upstream petroleum industry is being reviewed with the view to reducing redundancies and further giving effect to the intention to consolidate the activities of the numerous regulatory agencies existing in the energy sector. It is believed that a smaller number of regulatory agencies is needed to manage the sector in order to ensure efficient and coordinated operation and enforcement of regulations.

INVESTMENTS IN THE ENERGY SECTOR It is estimated that, about USD$9.0 Billion is required in the next five years to finance the numerous initiatives in the energy sector, including oil and gas activities which alone require over USD$5.5 Billion. While Government will continue to inject funding into the sector, when available, a major policy shift is to encourage the energy sector institutions to raise a substantial portion of their capital investment requirements on their own without recourse to Government. Government has therefore requested the sector agencies, particularly VRA, Ghana Grid Company (GRIDCO), Electricity Company of Ghana (ECG) and Tema Oil Refinery, to raise financing from commercial loans and other private sector financing arrangements and also via the Ghana Stock Exchange. In addition, GNPC is required to raise USD$161 million as its share in the financing of the development of the Jubilee Field.

MAIN ENTITIES

AFRICAN MINING SERVICES GHANA Mr. John Kavanagh No 3 North Airport Road, Kia, Accra Tel: (+233) 21 763875 Fax: (+233) 21 763274 www.amsgh.com enquiries@amsgh.com

Energy

African Mining Services (AMS) is an operational company owned by Ausdrill Limited that offers competitive contract surface mining services to the mining industry throughout Africa. With a strong client focus AMS offers safe and cost effective load and haul, drill and blast, grade control drilling, pit dewatering, crusher feed, stock pile rehandle, associated civil earthworks and wet and dry plant/equipment hire to the African mining industry. In addition AMS provides an exploration drilling service through a modern and well maintained fleet of reverse-circulation, diamond and rotary air blast/ core drilling rigs. In order to respond to all client requirements AMS apply dedicated personnel management, including a culture committed to the training and progression of African Nationals for industry development, core industry skills with the right experience and a well maintained fleet of equipment with specific equipment capabilities. All of which add significant value.

AFRICAN UNDERGROUND MINING SERVICES GHANA

Mr. John Kavanagh No 3 North Airport Road, Airport Residential Area, Kia, Accra Tel: (+233) 21 763875 Fax: (+233) 21 763274 enquiries@amsgh.com www.amsgh.com

African Underground Mining Services (AUMS), established in 2007, offers clients a full suite of underground mining services from Consulting and Feasibility, Management and planning through to mine development and production, with one of the most modern mechanised fleets of selfmaintained underground mining equipment in Africa.

Energy

AUMS is a 50/50 joint venture between Ausdrill Ltd (ASX Listed) and Barminco Ltd. Ausdrill Limited has been operating in Africa since 1991 through it is 100% owned subsidiary African Mining Services (AMS). Through AMS they have access to over 15 years of operational and logistical experience in Africa. AMS provides Surface Contract Mining and Exploration Drilling Services, along with Logistics and Supply through-out Africa. AMS’s clients include Newmont Ghana Gold Limited, AngloGold Ashanti, Goldfields, Chirano Gold Mines Limited and IAM Gold. Barminco, as Australia’s largest Underground Hard Rock Mining Contractor with over 10 operating contracts throughout Australia, bring the “equipment and know-how” to the AUMS joint venture. Recently, Barminco have been awarded their first International Contract at Pharaoh Gold’s Sukari Hill Project in Egypt. Our experience and expertise combined with that of the joint venture partners provides AUMS with the hands-on African experience whilst allowing a dedicated focus on world’s best practice by bringing expertise in Australian Underground Mining Standards and productivities to the African Continent. AUMS is committed to world best standards and productivities by utilising modern equipment and implementing the building blocks of African Employee development by imparting expertise and experience. AUMS has a presence in Ghana and Mali and we are actively assessing projects in Zambia, Egypt, Morocco, Mali, Burkina Faso, and the Democratic Republic of Congo. AUMS is committed to world best standards and productivities by utilising modern equipment and implementing the building blocks of African Employee development by imparting expertise and experience. Their Aim is to be recognised as the “Contractor of Choice” in the African Underground Hard Rock Mining Industry.

Chadeco Group is a Private Limited Liability Company incorporated under the Companies Code of 1960 (Act 179). The Company commenced operations about fourteen years ago as a business enterprise and later (in September 2001) re-organized itself into a limited liability company.Today, Chadeco Group has developed into an investment company with nine different limited liability subsidiaries operating mainly in the Oil & Gas, Mining and Plant Pooling/Haulage sectors of the Ghanaian economy. Our commitment is founded on a unique interest in wealth creation through worthwhile investment activities within select industries with exceptional growth potential in Ghana and across the World. Our vision is to be a leading multi-faceted investment entity in Ghana and across the World. ENERGY COMMISSION P.M. B. Ministries, Accra, Ghana Tel: (+233) 30 2813756 / 7 infor@energycome.gov.gh

ENERGY FOUNDATION GHANA Mr. Ernest Asare Executive Director PO Box CT 1671, Accra, Ghana Tel.: (+233) 30 2515610, 515611, 515612 Fax: (+233) 30 2515613 info@ghanaef.org EURO AFRIC CONSULT LTD Mr. Kofi Amaako CEO PO Box MS 585, Mile 7, Accra Tel: (+233) 20 8118144 euroafricconsult@gmail.com

CHADECO

With their entrepreneurial zeal and in strengthening their presence in the local supply chain industry; the directors of Euro-Afric Logistics Company Ltd (Italy and Germany) have establishedasistercompany,Euro-AfricConsultLimitedtofocus on the supply chain market of the petroleum sector in Ghana.

Mr. Prince Charles Dedjoe Managing Director Plot No. 16, PO Box ST 38, Shiashie, East Legon, Accra Tel: (+233) 30 2519048/9 Fax: (+233) 30 2514147 info@chadecogroup.com www.chadecogroup.com

Euro-Afric Consult Limited is a wholly Ghanaian privately owned registered company. Although the company was registered in November, 2006; operational activities actually started in the last quarter of 2009. The company has obtained an operating license from the Ghana National Petroleum Corporation (GNPC) in 2009 to enable them to directly provide supply chain services to companies in the petroleum sector. Their company has been built on the philosophy to provide complete customer based service in fulfilling

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Energy

Their corporate goals in the upstream petroleum industry. Euro-Afric Consult Limited intends to secure most of its stock of equipments, logistics and other value chain supplies from Europe, America and Asia. With their head office based about 45 minutes drive from Takoradi, the company has its key operational activities in their branch office in Accra. They also recently acquired four plots of land in Tarkwa for a future warehousing project.

purpose drill rigs, specialising in deep directional drilling. They pride themselves on supplying only the best drilling equipment and expertise available. Ghana-based with operations across West Africa, Geodrill always delivers on time and budget - with safety and the environment its highest priorities. Geodrill Ghana Ltd (a a subsidiary of Geodrill Ltd) commenced operations in Ghana in September 1998. Its enviable reputation is built on the careful selection of safety and service orientated drilling personnel and the attention to keeping a modern, well maintained fleet of drill rigs.

GEODRILL GHANA LTD

Mr. Dave Harper Managing Director No 20 B Aviation Road, PO Box KIA 16184, Airport Residential Area, Kia, Accra Tel: (+233) 21 76 8876 / +233 21 768879 Fax: (+233) 21 768692 dharper@geodrill-gh.com www.geodrill.com.gh

Geodrill Ltd provides reverse circulation and diamond coring services using state-of-the-art UDR multi-

MOBI CRANE GH LTD Mr. Zafer Domlodge Managing Director Feterek Street, 25, PO Box 156, Airport Residential Area, Accra TelÂ : (+233)21 768989 / (+233) 24 2222212 FaxÂ : (+233) 21 768989 info@mobicrane.com www.mobicrane.com

CHADECO OIL & GAS INTERNATIONAL

Group Office Chadeco House Plot No. 16 Shiashie, East Legon Accra, Ghana Postal Address Chadeco Group Company Limited, P. O. Box ST 38, Accra, Ghana

www.ebizguides.com T. +233-(21)-519048/9 F. +233-(21)-514147 info@chadecogroup.com / www.chadecogroup.com

Energy

Mobicrane has been providing Crane services as well as Earthmoving equipment to the mining, construction, industrial and oil and gas sectors for the past ten years. The Company was established in 1999 and incorporated in 2000. Since the start of operation, Mobicrane has had a successful and safe working relationship with its clients. Our motto is to provide the best service possible in all the sectors proudly be a part of development and growth of the nation. Mobicrane was founded in 1999 to meet the needs of lifting requirements in Ghana. They have grown steadily since then, and have become a leader in

this area. Today they are a first class company with a fleet of equipment, superior staff and a recognized reputation for excellence in the industry. The company is a family owned, financially stable organization possessing profound dedication and they take great pride in their work. Their 24/7 commitment to their clients and employees is vital in this business. They offer the â&#x20AC;&#x153;best of what is availableâ&#x20AC;? in equipment, personnel, management, and support staff to meet their clients unique requirements. Their focus and mission is to meet the needs of all growing sectors, especially the Oil/ Gas sector.

Accra Station

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INDUSTRY AND TRADE

Do not call the forest that shelters you, a jungle Ghanaian proverb

Industry and Trade GHANA’S FOOD PROCESSING SECTOR The food processing industry plays a major role in Ghana’s economy. Major food crops in Ghana generally consist of cereals and starchy foods. Cereals include maize, rice, millet, guinea corn and sorghum, while starchy crops include cassava, yam, cocoyam (taro) and plantain. Currently, food processing in Ghana is done by medium-scale enterprises. Over the years, the Government of Ghana has implemented policies that add value to Ghana’s raw agricultural products (e.g. cocoa, cotton, oil palm, etc). In recent times, intensive efforts have been made by government to process some of these products; for example, volume of cocoa beans processed locally has doubled in the last decade. In addition, there is the establishment of a special initiative for oil palm and cassava processing. The purpose is to expand and add value to nontraditional exports and to diversify the economy, create employment and improve local livelihoods. The main processed food products are from: • Cocoa • Maize • Rice • Oil palm • Groundnut • Cassava • Soybean • Nuts

The Market

palm, citrus, mango, cashew, coconut, cowpea and traditional vegetables e.g. tomatoes, pepper • Production of value-added cocoa and coffee products • Production of improved seeds and agro-chemicals (fertilizers, pesticides, weedicides) • Processing of dairy products • Production of inputs such as fertilizers, pesticides, and fungicides Raw Materials • Processors and manufacturers to supply packaging materials • Producers to supply planting materials • Production of horticultural products for processing (e.g. maize, yams, cassava, oil palm, citrus, mango, cashew, coconut, cowpea and traditional vegetables e.g. tomatoes, pepper etc.) for national, regional and • European Union (E.U) markets • Development of private irrigation facilities Technological and Supporting Services • Processing machine manufacturers to supply cold chain equipment • Companies to provide installation of cold chain equipment • Companies to train manufacturers in packaging and packaging technology • Companies to train producers in the use of food processing technology • Machine manufacturers to establish hatcheries for day-old chicks • Processing machine manufacturers to supply processing plants • Suppliers and financiers of factory building technology

Generally, exports of processed and prepared foods have seen major growth in the last two years. Total exports of prepared foods (excluding processed cocoa products and processed tubers/cereals) amounted to USD$5,379,641.10 in 2009. The export figure represented a significant increase over the export figure recorded in the previous year. Total exports of prepared foods (excluding processed cocoa products and processed tubers/cereals) amounted to USD$1,807,693.02 in 2008.

Marketing and Distribution • Companies to provide post-production services (transport, packaging, cold vans) • Companies to provide distribution of improved seeds, planting materials and agro-chemicals (fertilizers, pesticides, weedicides) • Companies to market processed foods in international markets

Investment Opportunities

Incentives to the sector may apply under the following provisions: • There is custom duty exemption for agricultural and industrial plant, machinery and equipment imported for investment purposes. • Listed companies enjoy corporate tax of 25% and

Production Investment opportunities exist for producers and processing companies in the following areas: • Companies to process maize, yams, cassava, oil

Investment Incentives

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Industry and Trade

newly listed companies enjoy 25% corporate tax for the first three years. • Location Incentives (tax rebate) for manufacturing industries located in the regional capitals.

qualified for duty and quota free access to the US market via the African Growth and Opportunity Act (AGOA). In 2008 export of textile from Ghana reached USD$1,039,900.

The Ghana Investment Promotion Centre Act, 1994, also provides for automatic incentives and benefits. Please consult the website, www.gipcghana.com for further information.

The main export destination for made-in-Ghana textiles includes EU countries, the USA and ECOWAS.

GHANA’S TEXTILES AND GARMENTS SECTOR Sector Overview The textiles and garments sector is predominantly cotton-based although the production of manmade fibres is also undertaken on a small scale. The textiles and garments sector in Ghana can be subdivided into the following different groups: • Export-based readymade garments • Traditional textiles like Kente and wax prints • Custom-made garments • Ready-to-wear garments for the domestic market. Textiles and garments exports from Ghana comprise of fancy prints, wax prints, java prints, calico smock, ladies dresses, men’s wear, etc. Indigenous textile products like Kente, Adinkra (hand-prints) smock or Fugu are also exported. Batik or tie and dye fabrics are also used to produce all kinds of products for the export markets. These products include: a unique brand of carefully crafted handbags, casual wear for ladies and gents, shirts, dresses, napkins, cushion covers, bedspreads, chair backs, curtains, toys and many others. Some key players in this sector include Ghana Textile Printing Company Limited (GTP), Ghana Textile Manufacturing Company Limited (GTMC), Akosombo Textile Limited (ATL), Printex Limited and Global Garments & Textile Limited.

The Market A total annual output of about 40 million yards was produced by the industry in 2009. Further production capacity exists. Textile export is an important source of foreign exchange and revenue to textile manufacturing firms. In the year 2000, Ghana

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In order to serve this market as well as improve the textiles sector, various initiatives have been undertaken including: The Textiles and Garments Industry Cluster Network - formed to address the problems and challenges faced by the sector. Since its inception, the cluster has assisted in training in mass production strategies, sub-contracting, up-grading of technical and marketing/managerial skills of members, and providing financial assistance. Export Action Programme on Textiles and Garments - designed to promote and enhance private sector growth and development within the government’s vision of creating a “Golden Age of Business” in the country. Textiles & Garments Training Centre which is part of investments made to build sufficient garments manufacturing capacity in Ghana to supply the US market on a sustainable basis, a USD$1.2 million ultramodern Clothing Technology and Training Centre has been established in Ghana. The capacity of the training centre is 10,000 trainees per year. The textiles and garments industry is also supported by 21 vocational training institutes in the country, which provide basic practical and theoretical training and assistance in tailoring and dressmaking. Additionally, production facilities have been further developed and include: 1. Factories constructed at Tema Export Processing Zone (EPZ) and allocated to companies for the production of garments for export. 2. Warehouses at the old Ghana National Trading Company (GNTC) complex have been converted to factories and allocated to entrepreneurs for the production of garments for export. 3. Additional factories to be converted from warehouses purchased from the Ghana Textiles Manufacturing Company (GTMC) for use by entrepreneurs.

Industry and Trade

Investment Opportunities Investment opportunities available to potential investors in this industry are as follows: Production • Garments Manufacturing Companies to set up factories in Ghana to produce for the US market Marketing and Distribution • Buyers and Sellers to make exploratory visits to Ghana and request trial orders • Raw Materials • Fabric suppliers to supply raw material requirements of Ghanaian garment manufacturers • Textile Manufacturers to set up factories in Ghana to supply fabrics on a sustainable basis Technological and Supporting Services • Suppliers of Garment Manufacturing Equipment to supply the Ghanaian market on a sustainable basis • Suppliers and Financiers of factory building technology

Investment Incentives Some incentives available to investors in this sector include: • Quota-free and tariff access to the US market based on approved African Growth and Opportunity Act (AGOA) visa. • Favoured industry status for garment exporting companies. • Fast track support and facilitation of investments in the garment industry by government and a private-public sector development consortium. • Exemption from customs import duties on plant and machinery, equipment and accessories imported exclusively and especially for establishing enterprises. • Corporate tax rebates of 40% - 75% and location incentives for manufacturing industries. • Investment allowance of 7.5% per annum and full repatriation of earnings. • A relatively cheaper raw material base, expanding cotton production levels and active support to the sector with the provision of facilities such as the Garments Village and Training Centres.

Investment Guarantees Ghana is a safe investment destination. Guarantees

against expropriation of private investments provided under law are buttressed by the Ghanaian Constitution. Some investment guarantees are detailed below: • Free transferability of capital, profits and dividends • Insurance against non-commercial risks – Ghana is a signatory to the World Bank’s Multilateral Investment Guarantee Agency (MIGA) Convention • Double Taxation Agreements (DTAs) – to rationalize tax obligations of investors in order to prevent double taxation. DTAs have been signed and ratified with France and the United Kingdom DTAs have been signed with Germany and concluded with Belgium, Italy and Yugoslavia

POTENTIAL SOURCES OF FUNDING Viable companies and projects can easily attract financing both on the local and international financial markets. The main sources of funding are: • 29 Banks • 44 non-bank financial institutions • 135 rural banks • The Ghana Stock Exchange – note that in the last four years, many issues of shares on the GSE have been oversubscribed by 100% - 300%, meaning that there is a lot of money for investment purposes • Ghana Venture Capital Fund • International development finance institutions based in Ghana, such as the International Finance Corporation (IFC) and the African Development Bank (AfDB) A number of foreign financial institutions also provide off-shore financing directly to companies in Ghana.

Main Entities GHANA RUBBER ESTATE LTD Mr. Marc Genot. Managing Director 49/11 Nzema Road, PO Box TD 228, Takoradi Tel: (+233) 31 22577, (+233) 31 22578 Fax: (+233) 31 22515 www.geodrill.com.gh info@grelgh.com Ghana Rubber Estates Limited (GREL) started as a small private plantation established by R. T. Briscoe in 1957

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Industry and Trade

at Dixcove with a plantation size of 923 hectares. The plantation was nationalized into Agricultural Development Corporation (ADC) in 1960 and later, State Farms Corporation in 1962. At that time, the rubber plantation had expanded to 36,390 hectares in Dixcove, Abura and Subri. The Ghana Government, in 1967, established a joint venture company with Firestone Tyre Company of USA to take over the rubber plantation. This joint venture company was Ghana Rubber Estates Limited (GREL). By then, the plantation had expanded to 39,390 hectares. GREL became wholly state-owned in 1980 when Firestone sold its shares in GREL to the Ghana Government. However, the Ghana Government entered into a financing agreement with the then Caisse Française de Development (CFD) now Agence Française de Development to rehabilitate and manage the company’s rubber plantation and to build a new rubber processing plant at Apimenim. After the rehabilitation in 1996, the French management company, SIPH became the major shareholder of the company.

INSTYLE INDUSTRIES LTD Behind ABC Brewery, Accra North Tel: (+233) 21 400075 Fax: (+233) 21 402406 www.instyleindustriesltd.com info@instyleindustries.com Instyle Industries Limited is a wholly Ghanaian firm Incorporated on 19th May, 1987 under the Companies Code, 1963(Act. 197) with Registration No. C-31.757. Instyle Industries Ltd is the pioneer roofing industry established in Ghana, competing alongside the giants like Aluworks and Ghanal. The Company’s main activity is manufacturing of Galvanized, Aluzinc and Aluminium Roofing both in plain and different colours to the Ghanaian market and on other occasion export to the neighbouring countries like Togo, Ivory Coast etc. These materials are corrugated in 4 Profiles i.e Industrial Deep Trough, Six(IDT6), Seven IDT, Circular and Standing Seam Panel & Roofing Tiles. All these go with Ridge Caps and Nails. Industries Limited has well trained and experienced personnel in handling the under mentioned fabricated items all based in customers specifications.

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INTERCOM PROGRAMMING & MANUFACTURING COMPANY LTD PO Box AN7617, 62, Kojo Thompson Rd, Adabraka, Accra North, Tel: (+233) 30 2226830, (+233) 30 2236904 Fax: (+233) 30 2226189 ghassan@ranamotors.com sales@ipmcghana.com In its 18th year of successful business of IT products distribution, solutions & training, IPMC is one of West Africa’s largest IT companies with 400+ workforce and footprint on 19 locations. With its USD$5 million worth of local IT inventory and USD$25m turnover, IPMC is facilitating the growth of IT infrastructure and serves as many as 8000+ businesses in the region supported by 50+ suppliers globally. The process oriented work culture, a fully automated Oracle based ERP system and through its network of IT Learning Centers, IPMC College of Technology is consistently enhancing skill sets of up to 10,000 students every year. IPMC distributes IT products through its premier partnerships of HP, IBM, DELL, CISCO, MICROSOFT and also undertakes turnkey ICT projects for large organizations and the government. IPMC specialize in build, design and maintenance of Data centers and are lead consultants for Information Security and Business Continuity. Supporting the industry with good after sales service on branded IT products has earned IPMC, HP’s Top Service Center award and for its overall contribution it earned itself the National and CIMG Award of Top ICT Company and Top IT Training provider. IPMC as a founding GASSCOM member is participating in the fast growth of BPOs in Ghana.

KASAPREKO COMPANY LTD DTD off Spintex Road, Accra Tel: (+233) 21 810956 / Fax: (+233) 21 810603 www.kasaprekogh.com info@kasaprekogh.com Kasapreko Company Limited is a manufacturer of alcoholic and non-alcoholic beverages in Ghana. Kasapreko combines the best from our Ghanaian heritage with herbal science and state-of-the-art manufacturing technology strives to deliver products that offer a multiplicity of benefits to the end consumer.

Industry and Trade

The company was founded in 1989 in Nungua, a suburb of Accra in response to the growing demand for good quality alcoholic drinks that were still within the means of the average Ghanaian. Kasapreko’s vision differed from that of other alcoholic drink manufacturers in the country in that it identified the increasing sophistication of the consumer. High expectations in terms of taste, quality, safety and packaging meant that the Ghanaian consumer was spending more on foreign imports that met their aspiration. This was the mass niche that Kasapreko Company set out to serve. Kasapreko rapidly ascended to the leadership position in the Gin market with their “Kasapreko Dry Gin”, which became the gin of choice for consumers. Kasapreko Company was the first of the local manufacturers to establish a modern quality control and product development laboratory and the first to introduce their own proprietary bespoke bottles and caps. Kasapreko was also responsible for the conceptualization, research, design and development of the first scientifically formulated, herbal-based alcoholic beverage in Ghana– Alomo Bitters which quickly become the company’s flagship product.

M&G PHARMACEUTICALS LTD D446/1, Bannerman Road, James Town, Accra Tel: (+233) 30 2666868, (+233) 30 2666613 Fax: (+233) 30 2669085 www.geodrill.com.gh mgpharm@4u.com.gh M & G Pharmaceuticals Ltd. is one of the leading local manufacturers of pharmaceutical products in Ghana. The company was established in 1989 when its current owners bought production facilities from Kingsway Chemists Ghana Ltd., a division of United African Company Ltd. (UAC), now known as Unilever (Ghana) Ltd. The company was restructured

in July 1993 with foreign equity under the Ghana Investment Promotion Centre Act. At present, M & G Pharmaceuticals Ltd. manufactures 70 products under four categories namely – Tablets, Capsules, Syrups and Suspensions. Packaging comes in various types namely blister packing, lose packing and strip packing. Most products are from the Essential Drug List & National Formulary of Ghana published by the Ministry of Health.

PHC MOTORS LTD Mr. Paul Kwabena Pepera Managing Director 38/40 Ring Rd, PO Box GP 2969, South Ind. Area, Accra Tel: (+233) 22 38919, (+233) 22 38920 Fax: (+233) 22 28847 www.phcmotors.com headoffice@phcmotors.com PHC Motors Limited has been at the heart of the motor industry in Ghana since 1968. Over the years we have operated under the names of Leyland Motors, Leyland Daf and Land Rover Ghana. We became one of the few motor companies in Ghana to be solely owned and operated by Ghanaians. Under Ghanaian control the company’s fortunes were revived during the nineties. Substantial investments resulted in the creation of a completely modernized service facility in Accra, as well as a first class showroom. At present PHC Motors Limited is expanding its horizon to meet the needs of its customers. It has commissioned to date six Service Centres in five Regions – namely Takoradi, Tarkwa, Sunyani, Tamale, Koforidua and Ho. Added to this, it has its branch in Kumasi. All this goes towards realizing its mission – to establish modern sales and service centres throughout the length and breadth of Ghana which will provide the very highest levels of customer satisfaction.

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REAL ESTATE AND CONSTRUCTION

Do good because of tomorrow Ghanaian proverb

Real Estate and Construction OVERVIEW The Ghanaian real estate market has seen significant expansion due to the rapid growth of the Ghanaian economy and the influx of foreign investors into the country. Immense opportunities exist in the construction of residential houses, industrial and commercial houses as well as shopping centers, hotels and hostels for tertiary institutions.

Industry Structure The real estate industry consists of residential, commercial, industrial and recreational properties. Commercial properties include hotels, office buildings, conference facilities, and retail space. The industry is currently dominated by residential and commercial properties with the residential property market being the most active. The industrial property market is significantly smaller in size than the commercial property market, while recreational properties are the smallest segment. The residential and commercial markets are dominated by private companies, which control over ninety percent of property holdings. Industry Structure of Real Estate and Construction Sector

In seeking to boost housing supply, the Government of Ghana is pursuing various programs such as the affordable housing program initiated in 2005, to build over 100,000 thousand units of affordable housing through Private, Public Partnerships (PPP) across the country. Governmentâ&#x20AC;&#x2122;s efforts are being complemented by individual households and real estate developers that are providing residential housing to meet the high demand. The government has also entered into a public-private partnership arrangement with STX Engineering and Construction Ghana Ltd (a GhanaKorea joint venture development company) and HFC Bank Ltd to construct 200,000 low-income housing units nation-wide over the next five years. The demand for housing units is mostly concentrated within the Accra-Tema metropolis. The development of new housing estates is being spearheaded by the Ghana Real Estate Developers Association (GREDA), an umbrella organization of loosely associated private real estate developers. The top five GREDA companies that account for roughly 75% of the groupâ&#x20AC;&#x2122;s residential property development are Regimanuel Gray, Parakuo Estates, NTHC Properties Ltd, ACP Estates Ltd, and Manet Housing Co Ltd.

Commercial Properties Demand for commercial properties in Ghana has increased substantially over the past decade due to the growing presence of foreign and multinational companies seeking investment opportunities in the country. Estate developers are building multi-purpose commercial properties to meet the ever-growing demand. Many owners of residential property in prime areas of Accra are converting or remodelling their properties into new commercial developments. Prime commercial areas and streets in Accra are Accra Central Business District, Airport Commercial Area, Asylum Down, Osu, Kwame Nkrumah Avenue, Kojo-Thompson Road, Independence Avenue, Spintex Road, Liberation Road, Ring Road Central, and Cantonments Road (Oxford Street).

Residential Properties Formal housing supply has traditionally been the role of the Government of Ghana through major competitive providers like State Housing Corporation (SHC), Tema Development Corporation (TDC) and Social Security and National Insurance Trust (SSNIT). SHC and SSNIT have concentrated on providing blocks of flats in regional capitals like Accra, Cape Coast and Takoradi. TDC is basically involved in site servicing and facilitating residential development.

Industrial Properties The development of the industrial property market in Ghana has being slow as there is a decline in manufacturing and an increase in importation of finished products into the country. The industrial property market consists mainly of factories and warehouses for rent or sale and is restricted to the North and South Industrial Areas in Kaneshie, Spintex Industrial Area, and Tema Industrial Area.

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Real Estate and Construction Recreational Properties

BIG AIDOO CONSTRUCTION LTD

Recreational developments are built by private entrepreneurs interested in running the complex themselves. The Government of Ghana also owns cultural properties in all the regions to promote tourism. Predominate amongst these properties are the Accra Art Centre and the Centres for National Culture.

Mr. Michael Aidoo Managing Director 31st Mensah Sarbah Rd, Kokomlemle, Grace Villa Building, PO Box ML 36, Mallam, Accra Tel: (+233) 21 220598 Fax: (+233) 21 233618 bigaidoo@yahoo.com

Construction Finance With an stable economic environment, there is now easy access to debt finance for construction in Ghana. Financial institutions involved in construction finance have no standardized lending conditions for applicants. Each development is considered on its own merits and depending on the risks associated with the project, the institution grants the terms of lending. Barclays Ghana, National Investment Bank, Amalgamated Bank and HFC are some of the banks offering construction finance in Ghana

Home Purchase Finance (Mortgage Market) The stable macroeconomic environment in Ghana has resulted in the gradually growth in the mortgage market in the country. Interest rates are now stable, making it attractive for both financial institutions and middle-income earners to participate in the mortgage market. Funds are now available at competitive cost and pricing, enabling people to afford decent housing. Most prominent mortgage lenders in the country include HFC and Ghana Home Loan, although other universal banks like Fidelity Bank, Barclays Bank, UBA and Ecobank are also offering such products.

MAIN ENTITIES GHANA REAL ESTATE DEVELOPERS ASSN Dr. Alex Tweneboah President Trade Fair Site, PO Box TF 113, Accra Tel: (+233) 30 2782531, (+233) 24 4318288, info@gredaghana.org / www.gredaghana.org

MINISTRY OF WATER RESOURCES, WORKS AND HOUSING PO Box M43, Ministries, Accra Tel: (+233) 30 2673701 / Fax: (+233) 30 2673882 info@water-mwrwh.com / www.water-mwrwh.com

From the inception stages to completion, Big Aidoo provides end-to-end engineering solutions, quality workmanship and ensures the prompt delivery of projects tailored to the client’s specifications. Its clients include the World Bank, I.M.F., D.F.I.D. and the G.O.G. amongst others. It works closely with the Departments of Feeder and Urban Roads, the Ghana Highway Authority and other organizations and institutions. Its technical experts have aided the company to develop a reputation for delivering practical engineering solutions that are business driven, cost effective and most often innovative. Big Aidoo’s consultants provide quality assurance for existing risk management plans as well as training for senior executives, project managers and their quality assurance managers on the latest tools and techniques in managing risk. The company’s recognition as one of the best performers in the industry is wide and our techniques, methodologies and speed is frequently referenced to as a de facto standard within the industry. With the advent of computers, the internet and modern communication systems, the company has recently upgraded its systems with state-of-the-art equipment to enhance communication and increase efficiency. The company provides staff with IT training and has employed an IT specialist to periodically train employees and to service, repair and maintain its IT and communication systems and networks. Big Aidoo Construction Ltd provides employees with favorable career prospects. The company also offers benefits in the form of healthy medical, scholarship and redundancy packages to employees.

JOHN BITAR & CO. LTD Mr. Gassnan Bitar Managing Director PO Box 406, Plot No 1/20 Mempeasem Street, Essikadu, Sekondi. Email: info@johnbitar.com Tel: (+233) 31 2046321 / Fax: (+233) 21 46725

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Real Estate and Construction

Established since 1955, John Bitar & Co Ltd has grown to become Ghana’s leading producer of premium quality wood products under the Free Zones enclave. We specialize in the manufacture of various wood products from the finest tropical hard and softwoods. Included in their range of products are Sliced Veneers, Rotary cut Veneers, Plywood, Lumber, Mouldings and various profiled sections, Laminated and Finger-jointed products and Flooring. These are sold under their visible trademarks ‘’JCM’’ and ‘’SUMA” to reputable companies in Europe, North America, Middle East, Asia and Africa. Their growth has been impressive over the years, making us the largest free zones timber processing company in Ghana. Throughout the years, they have shown remarkable strength in the face of stiff competition and many challenges, and have grown into a company with three large factories that specialize in the manufacture of various wood products. Their resilience and dedication to their customers has earned them many local and international awards including Euro Market Award for Export Excellence, Ghana-Africa Business Award for Contribution to Economic Co-operation and International Trade, several National Awards for Export Achievement and Builder’s Woodwork, Most Important Exporter and Importer Award and many more. They are concerned about the environment and have taken steps to preserve it for future generations. As such, They undertake plantation development and reforestation and are currently managing three projects at Acheampim, Manzan and Bia Tawya forest reserves. Their efforts were rewarded in 1998 with the Forestry Award for Actively Engaging in Tree Growing and Excellent Contribution towards Reforestation and in year 2008 with another award for Continuous Commitment to Environmental Stewardship. They are also aware of the increasing demand for Certified wood products and timber from legally verified sources and are working in partnership with WWF under the Global Forest and Trade Network (GFTN) program and Smart Wood towards achieving Chain of Custody and Certification for their forests and products soon.

MANET HOMES #C27, Manet Court, PO Box SD 125 (Stadium), East Airport (off the Spintex Rd.), Accra Tel: (+233) 21 7010540 / Fax: (+233) 21 286155 www.manethomes.net

Over a decade ago, Manet Housing Ltd was founded with a clear vision: to be the most innovative, and definitely, the most successful provider of affordable accommodation solutions. This same vision has translated into the provision of no less than 1000 housing units in several residential communities, beginning with Manet Cottage, then Manet Gardens, Manet Ville, Manet Palms and Manet Court. Unsurprisingly, their efforts and dedication have brought them industry recognition with a collection of notable awards such as the Ghana Real Estate Developers Association’s (GREDA) Award for Best Developer (1998) and the Millennium Excellence Award - Shelter Category (1999). Even more importantly, they have succeeded in assisting many families realize that all-important dream of acquiring a decent home for themselves in a secure environment. In the coming years, they look forward to fulfilling, with passion, the dreams of their clients for secure housing.

TAYSEC CONSTRUCTION LTD

Mr. Geoff Fisher Managing Director 84 Cantonments Road (Oxford Street) Adwoa,Adjeiwaa Building 1st Floor Suite 101 PO Box OS 1010 Osu, Accra Tel: (+233) 21 742030 Fax: (+233) 21 742035 www.taysec.net / info@taysec.net

Taysec is West Africa’s leading construction services group. With over six decades of construction experience in Africa, the company has a pedigree that goes back to 1947 when Frank Taylor, founder of the Taylor Woodrow Group, first set up operations in Ghana. Today, as an independent, Ghanabased developer, Taysec brings international expertise and local experience to provide intelligent construction management and specialist professional services for Africa. Taysec’s construction professionals are fully trained to manage all aspects of any capital construction project to ensure quality results that are on time and within budget. From project inception to maintenance of the finished facility, Taysec can provide services to the whole-life of the project, either as an extension of the client team or serving as a professional consultant. Whatever the requirement, Taysec can provide intelligent solutions and add value to any construction project in Ghana, the sub-region or the continent.

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ICTs AND MEDIA COMPANIES

It is the calm and silent water that drowns a man Ghanaian proverb

ICTs and Media Companies OVERVIEW Ghana’s Information and Communication Technology sector has progressed over the last decade. As one of the first countries to introduce widespread liberalization in basic telecommunications services, in 1994, Ghana took an important step forward in embracing the potential of competitive markets to generate growth and innovation in the sector. The ICT Industry comprises telecommunications operators, internet service providers, VSAT data operators, software manufacturers, broadcast institutions, ICT education providers, internet cafés, etc. Generally, the Ministry of Communications and the National Communications Authority (NCA) oversee activities in the sector. The infrastructural base of the sector includes licensed gateway operators, SAT-3 Access, Private Licensed VSAT Systems, Fixed Wired Line Networks, Wireless Mobile Operators, Public telephones systems, Telecentres, Dedicated Transmission Networks, Public Distribution Networks (cable, TV, DSL, etc), Internet Service Providers, Internet Backbone Connectivity throughout the Country and Public Access Point and Broadcasting Systems. As an initiative to support emerging technologies, the Ministry of Communications is also facilitating the establishment of a Science and Technology Parks. Ghana remains a very safe and secure investment destination. It has established the necessary legal and regulatory framework which guarantees the safety of investments in the ICT industry. Indeed, Ghana has been recognized as an attractive destination for Business Processing Outsourcing (BPO) and was ranked the No. 1 destination in SubSaharan Africa (ahead of Mauritius and Senegal)

and No. 15 globally out of 50 countries by the 2009 A.T. Kearney Global Services Location Index (GSLI).

THE MARKET The Governments’ proactive policy and regulatory interventions, combined with support from the World Bank Group and other development partners, has resulted in a competitive and vibrant industry. As in December 2009, the telecommunications subsector had 2 authorized and operational fixed line operators plus 5 mobile cellular operators. Out of 165 Internet Services Providers (ISPs) authorized, 29 were in operation. The sector also witnessed 13 DTH Satellite Service providers, 176 Data Operators, 99 Public/Corporate Data operators, 140 FM Stations and 32 TV Stations having authorizations to operate with 8, 29, 25, 84 and 13 of them respectively actually being in operation. This is illustrated in the figure below.

Mobile Operators: Market Trends Ghana has currently 6 mobile operators, 5 of them being functional: MTN (which has dominant market share), Vodafone, Tigo, Kasapa and Zain. The sixth operator, Globacom, is being expected to launch its operations soon. The market continues to grow aggressively in all segments, particularly in the telephony space. The enabling environment provided by government continues to promote competition. Over the last five and 8 years respectively, the market uptake has been growing at a compound average growth rate of 62.3% and 58.3% respectively. Total access lines

Telecommunications Operators

200 150 100 50 0

s s e e d le ta te om ) tion Da rvic tion fixe obi r era Sta nal twork nal M ellula ct to H(DTH et Se Data VSAT rators Coop Data M Sta o i V t T e / F rn Na ne Natio c Dire Op ublic Inte P

No. Authorised

No. Operating www.ebizguides.com

ICTs and Media Companies

in operation as in December 2009 was 15,376,305 with almost 99% being due to mobile telephony. The mobile penetration rate increased from 52.6% in 2008 to 63.6% by July 2009. This represents about 11 per cent growth.

2. Promotion of Competitive Telecom Market The National Communications Authority (NCA) encourages the private telecom service providers to further plan their infrastructure deployment and invest in a strategic manner and also improve access and quality of service.

Internet Usage

3. The e-Ghana Project Under the e-Ghana project, the Ministry of Communications (MOC) has developed investment promotion and support mechanisms to attract and retain investors in Information Communication Technology (ICT) and ITES businesses.

Over the last decade, internet usage has greatly increased in Ghana. Together with the mobile cellular market, the internet market in Ghana presents an important potential for growth and development. As a critical source of information, the internet is viewed as a significant development enabler. In 2000, Ghana had an estimated number of 30000 internet users. This increased over the years reaching 609800 in 2006. By June 2009, Ghana had nearly eight times as many internet users as it did in 2000 with the number of 997,000 internet users. The upward trend is shown below.

SECTORIAL DEVELOPMENTS 1. National Fibre Communications Backbone Infrastructure Following the successful completion of the southern loop, the 2nd phase of the National Fibre Communication Backbone, aimed at providing open access broadband connectivity, is being developed from Tamale to the northern parts of the country and neighbouring countries.

4. Ghana Investment Fund for Telecommunications (GIFTEL) GIFTEL has been set up to facilitate the extension of communications services to underserved and unserved areas through the provision of common facilities. 5. Government Assisted PC Programme (GAPP) Government is working at the GAPP under the iAdvance Computer4All Project which aims at increasing the acquisition and use of personal computers at affordable prices in Ghana. 6. ICT Business Incubators The Ghana Multimedia Centre (GMIC) has also supported the establishment of business start-ups to support and nurture entrepreneurial development in ICT. 7. Business Process Outsourcing (BPO) Government has formally adopted and identified

Internet Users

Total Users (000s)

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2001

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Total Users (000s) www.ebizguides.com

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ICTs and Media Companies

priority skills development areas within the BPO/ ITES industry. Further, the BPO/ITES training curriculum has also been streamlined with the skill requirement of the industry.

Legal Environment In addition to 4 recently passed ICT sector Acts (including the Electronic Communications Act, Act 775, of 2008), the following bills are being developed: • Intellectual Property Legislation • Data Protection/Privacy Legislation • Regulations for e-transaction to enhance e-Government • Consumer protection, etc To further improve the postal services sector, a National Postal Policy is being developed. The National Communications Authority Act and the Electronic Communications and Transactions Act have all been passed in the spirit of strengthening the capacity of the regulator i.e. the National Communication Authority, since the existence of fair competition depends on the fairness of the regulator.

INVESTMENT OPPORTUNITIES There are considerable investment opportunities in the ICT sector. The sector requires service providers in connecting international voice calls to the local public network. Internet service providers are also required to offer internet access to the public especially the rural areas at less cost and broadcasting operators to establish Radio and Television broadcasting in the country. There is also a lack of ICT Facilities and Infrastructure on a broad scale across the nation. Investments are needed in the Provision of Software for the country, extension of the broadband network to reach the whole country and to provide computer access to rural students, as well as technological and support related services such as the supply of quality telecommunications equipment, ICT Equipment, office and network equipment.

Main Entities AIRTEL GHANA Bharti Airtel, No 30 Independence Ave, GNAT Heights, North Ridge, Accra

Tel: (+233) 21 768876, (+233) 21 768879 Fax: (+233) 21 768692 www.gh.airtel.com info.africa@airtel.com Airtel provides mobile communications services across 16 markets in Africa: Burkina Faso, Chad, Democratic Republic of the Congo, Republic of the Congo, Gabon, Ghana, Kenya, Malawi, Madagascar, Niger, Nigeria, Seychelles, Sierra Leone, Tanzania, Uganda and Zambia. Airtel’s African operations are owned by Bharti Airtel Limited, a leading global telecommunications company with operations in 19 countries across Asia and Africa. The company offers mobile voice and data services, fixed line, high speed broadband, IPTV, DTH, turnkey telecom solutions for enterprises and national and international long distance services to carriers. Bharti Airtel has over 200 million customers (November 2010) across its operations, including 50 million in Africa. Airtel is driven by the vision of making mobile communications affordable for all to give people the freedom to meet their daily challenges and to drive economic and social development. Airtel is making a positive impact in the communities in which it operates through extending its networks to rural areas and through its education initiatives.

KASAPA TELECOM LTD Robert Palitz, CEO 2 Yiyiwa Link Abelemkpe, PO Box 10208, Accra North Tel: (+233) 21 765743 / Fax: (+233) 21 765738 info@kasapa.com Kasapa Telecom Limited - a subsidiary of Hutchison Whampoa Group - offers mobile, home, and business voice and data service on its 800 MHz CDMA2000 1X network, expanding throughout Ghana. Hutchison Whampoa Group acquired 80% of Celltel Limited in 1998, and in 2003, changed the brand to Kasapa and the company name to Kasapa Telecom Limited. In January 2005, Kasapa became a whollyowned subsidiary of Hutchison Telecom. Kasapa means ‘good talk’ in Twi, the most widelyspoken local language in Ghana. The Kasapa logo incorporates the “nnewuta” or double bell, a widelyrecognised Ghanaian cultural symbol. The sound made by the nnewuta mimics the pronunciation of the word Kasapa, and is used in advertisements and on the network itself.

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ICTs and Media Companies

The small analogue network inherited from Celltel was expanded and then converted to CDMA2000 1X digital technology on 800 MHz in September 2005, with customers migrated overnight. Coverage has since expanded from the capital metropolitan area to over 250 cities, towns and villages in seven of Ghana’s ten regions.

K-NET LTD PO Box 0641 (Osu), No. 12 Roman Ridge St, Roman Ridge, Accra Tel: (+233) 21 224715, (+233) 21 770833 Fax: (+233) 21 227802 info@knetgh.com K-NET started out as KCS Ltd, in 1996 which was specialised on supplies, installation and maintenance of computer hardware systems and accessories. Since 1999 K-NET is fully licensed by the National Communications Authority for provisioning of data and internet services nationwide. K-NET today employs over 100 personnel and is present in several West African countries. K-NET is the one stop shop for all managed network and internet solutions within the West African subregion, using different products according to the needs, peculiarities, preference and location of clients. We tailor specific solutions for you and manage your network as well as the internet access.Accreditations from many reputable manufacturers have enabled K-NET Ltd to create a comprehensive yet flexible portfolio of solutions. With our networking expertise complemented by our proficiency in sales, design, installation and maintenance, leading Manufacturers - such as those below - trust us time after time to facilitate distribution of their products and services. With over 10 years experience in managed services, K-NET is at the forefront of global voice estate management. What’s more, being a pioneer in developing IP networks for multinational companies, it is perfectly placed to help you migrate and manage your voice capabilities. They can help you create a next-generation network infrastructure that will help you thrive in today’s digital networked economy. This experience underpins not only their service management–K-NET offers comprehensive Service Level Agreements and a single point of contact for all accounts–but also our network design and service optimization consultancy. The result is flexible, homogenous networks that will help your business achieve the competitive advantage it needs to

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survive in today’s global market. K-NET is your optimized network solution provider.

MTN Ghana 17&19, Ridge Towers, 10th -12th Floor, 6th Avenue, Accra Tel: +233 (0) 21238018 www.mtn.com.gh customercare@mtn.com.gh MTN is a household name throughout much of Africa with a presence in 21 countries in African and the Middle East. It is rare today to go to an African capital and not see the presence of MTN from the cities to the most rural areas. This is evidence of a company that has truly brought a great service to millions of Africa’s entrepreneurs and citizens. Equipped with a proven record of technological innovation and a corporate culture that thrives on understanding telecommunications in emerging markets, MTN continues to consolidate is leadership position in the country. For MTN, innovation means understanding the needs of our customers and finding solutions that best meet their needs. MTN is therefore poised to provide great customer experiences and to further enrich its service offerings to its millions of subscribers by providing a better network with even better technology, an obligation to changing our customers’ lives, and a commitment to giving back to the communities we operate in. MTN recognises the rapid increase in its subscriber base as a result of its superior value proposition and is clearly the network of choice for the overwhelming majority of new subscribers. With this, MTN looks forward to the future with great hope and wish to reaffirm its commitment to the provision of World Class Telecommunications services to the good people of Ghana. MTN is the market leader in the increasingly competitive mobile telecommunications industry in Ghana. It offers subscribers a wide range of exciting options under Pay Monthly and Pay As You Go Services. After one year of rebranding Mobile Telecommunications Network (MTN) in country, the organization is focused on consolidating its position as the leader in the market and to fulfil its commitment of bringing world class telecommunication services to the country. In this regard, MTN has invested substantially in a Network Expansion Initiatives meant to enhance speech quality, improve coverage intensity and to extend coverage to new areas.

ICTs and Media Companies

PERSOL Mr. Michael Quarshie Managing Director 17 Dadeban Road, North Industrial Area, Private Mail Bag, Accra North Tel: (+233) 21 223877, (+233) 21 234712Â Fax: (+233) 21 234715 info@persol.net / www.persol.net Persol is the premier developer of leading-edge software products and IT solutions in Ghana. From custom and off-the-shelf application software development through systems integration solutions to IT Consulting, Persol delivers a full range of technological solutions that deliver real and measurable benefits to our Clients.

Founded in 1995, with a staff strength of 3, Persol currently has team of over 30 staff, committed to meeting and exceeding the IT needs and expectations of their Clients with technologically superior and competitively priced solutions that deliver superior ROIs to our Clients. Their client base has grown and they now boast of over 170 clients including many blue chip companies in Ghana, Mali, Guinea, Togo and Nigeria. Persol continues to reaffirm this commitment through the provision of full-featured software and new technological solutions that impact the way businesses operate and use information technology. Their objectives then and now are simple; to be a leading-edge, market-driven and solutionoriented company delivering measurable and sustained benefits to our Clients.

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TRANSPORT

So many little things makes a man love a woman in a big way Ghanaian proverb

Transport OVERVIEW Transport improvement has been defined by the Ghana Poverty Reduction Strategy (GPRS) as an integral component for increasing national productivity and hence poverty reduction. The fundamental policy objective of the transport sector therefore is to establish an efficient, modally complementary and integrated transport system. The Transport sector is made up mainly of road transport, maritime and water transport, civil aviation and rail. Road transport is the major carrier in Ghana’s land transport system, currently taking up about 98% of freight and 95% of passenger traffic. The Road infrastructure sector is managed by the Ghana Highway Authority (GHA), Department of Feeder Roads (DFR) and the Department of Urban Roads (DUR), under the Ministry of transport, and can be categorized into 4 main segments: urban, express, rural-urban and rural services. Most urban transportation in Ghana is by road and provided by private transport including taxis, mini-buses and state/private-supported bus services. Buses are the main mode of road transport accounting for about 60% of passenger movement, taxis only account for 14.5%, while the remaining accounts for private cars. Most major international carriers fly regularly to Kotoka International Airport (KIA) in Accra, which is the main entry point to Ghana by air. This is the result of Ghana’s open skies policy, which frees the air space regulator from the constraints on capacity, frequency, route, structure and other air operational restrictions. In effect, the policy allows the Ghana Civil Aviation Authority (GCAA) to operate with minimal restrictions from aviation authorities, except in cases of safety and standards and/or dominant position to distort market conditions.

THE MARKET There are 23 identified public transport operators which belong to one recognised umbrella union, the Ghana Road Transport Co-ordinating Council (GRTCC). Most of these operators provide intercity, intra-city and long distance services. The size of vehicles that are used to operate ranges from 14 to 54 seat buses. With reference to total annual maritime export, freight volume in 2009 was 3,152,132 tonnes, a decrease of about 556,020 tonnes compared to that of 2008. The total annual maritime import freight volume also decreased in 2009 to 8,899,674 tonnes

from 10,821,480 in 2008. Container seaport traffic as well as imported Twenty Equivalent Unit (TEUs) increased steadily since 2001. Between 2007 and 2009 there was steady decrease of total container seaport traffic (imports & exports) from 547,653 TEUs to 481,274 TEUs. The number of vessel calls in 2009 was 1,631. Overall vessel calls to the country continued to increase each year with an exception in 2003 and 2007 but increased again in 2008 to 2009 from 1,568 to 1,631. Between 2000 and 2006, Tema Port received between 70-77% of all vessel calls. From 2004 international air passenger traffic increased from 705,370 to 1,204,786 in 2009. The air passenger traffic increased every year throughout the period 2007 to 2009. In 2009, movements to and from Europe constituted about 38% of the total passenger throughput that was handled at the Kotoka International Airport (KIA); and the West African sub region contributed about 22%.

INVESTMENT OPPORTUNITIES Major investment opportunities are in the areas of construction and maintenance, services and sales. Identified as one of government’s priority areas to be developed under its medium term plan, transport services offer exciting opportunities especially in mass transportation – scheduled bus system, rail upgrades and passenger rail transport on chosen corridors, lake transport system (exports and imports to and from land locked neighbours of Burkina Faso, Mali and Niger), air transport operators for domestic and sub-regional services, as well as, upgrading of existing trunk roads under BOT, BOO, BAT, BLT etc. systems. In its quest to attract investors, the sector gives out 95% of its work to contractors. The cost of roads construction and maintenance are borne by the government while private contractors assume the task of implementation. Major opportunities in the sector are in the form of contracts between the Ministry of Roads and Transport and local and international engineering firms via competitive bidding. The exception is where emergency works are concerned, in which case selective tendering is employed. Eligibility for bidding on public road construction and rehabilitation projects requires the registration of prospective contractors with the Ministry.

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Transport

Entry into the public transportation field is unrestricted. Most services are offered by private operators and competition is keen despite the presence of two partly state-owned firms, Metro Mass Transit and State Transport Corporation. There is a sizable number of companies in the country which provide sales and after sales services. These are PHC Motors, Japan Motors and Mechanical Lloyd among others.

has been proposed. Plans are far advanced to privatize railway management and development to interested local and foreign parties. The government has plans to concession the eastern, central and western railway lines for a period of twenty to twentyfive years to a partner who will modernize and run it on a competitive basis which will also facilitate economic development.

In addition to car and truck sales, a number of firms also deal in modern vehicle diagnostic systems. Hundreds of independent dealers also serve the second-hand automobile market. The sector enjoys a well-established market outlet in the country in terms of access to raw materials, technology and supporting services.

Main Entities

Demand for freight services transcends Ghana’s borders. The country’s over-land trading partners and land locked neighbours commonly rely on the transportation services from Ghana. Furthermore, the rehabilitation of Ghana’s ports at Tema and Takoradi, as well as the Kotoka International Airport has broadened the capacity for utilizing Ghanaian transport services in wake of the ECOWAS convention. It is now common for goods consigned to Burkina Faso and other neighbouring countries to land in Ghana for over-land freight forwarding. Tourism has emerged as the nation’s third largest foreign exchange earner. The Ministry of Tourism estimates’ have shown that the number of business and tourist visitors to Ghana is increasing each year, and that tourists spend around of 16% of their budgets on transportation expenses. While the total number of visitors in 2000 was nearly 400,000, the figure increased to 698,069 in 2008. Roughly 55% of Ghana’s visitors are vacation tourists while 37% are business travellers. The figures underscore the growing need for vehicle leasing enterprises (car, van, bus) to accommodate these groups. Tolling of roads is one area which poses investment opportunity in the sector. The government of Ghana has secured a Public-Private Infrastructure Facility (PPIAF) for a study on road concession and tolling. This is on-going and it will boost investment in the sector when it comes into being. A rehabilitation programme aimed at removing physical bottlenecks in the railway company in the sector is underway. A restructuring programme with the objective of attracting private sector investors

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INTER MARITIME SERVICES LTD Mr. David Ameble Managing Director Inner Fishing Harbour, Tema, PO Box 386, Achimota, Accra Tel: (+233) 22 216197 / 208437 / Fax: (+ 233) 22 208437 david.ameble@intermaritimeghana.com www.intermaritimeghan.com Inter Maritime Services Limited’s marine products provide fuels, lubricants and related technical services to the shipping industry through a network of more ports in Africa. It supplies about 200 customers involved in a broad range of shipping operations, including ocean-going tankers, containerships, dry bulk commodity carriers, cruise-liners, ferries, fishing, as well as specialized offshore exploration and production vessels, dredgers, and salvage vessels. Inter Maritime Services as a partner to Shell has a global commitment to promoting best practice and standards in the industry, working hardest to ensure efficient delivery of our products to customers in a responsible and safe manner. The demand for a wide variety and choice of fuels, especially in the development of low sulphur fuel oil, is increasing and Shell Marine Products is committed to ensuring that product integrity is maintained to the very highest levels. Their extensive knowledge of the bunker industry as well as their business experience in shipping allows them to provide their customers with the assurances they need.

MESTAD MARINE PO Box CO 2883, Tema, Accra Tel: (+233) 24 3041937, (+233) 20 8191434 Fax: (+233) 30 3200108

Transport

mestad1@yahoo.com mestadlimited@gmail.com www.geodrill.com.gh Mestad Marine limited was set up in 2004 with the main objective of offering services in safety control, marine engineering consulting and marine surveys. Since its creation, Mestad has been undertaking surveys of vessels for various shipping companies and their affiliates. Mestad Marine has consistently handled all assignments, exercising the requisite due diligence in consonance with local regulations and the relevant international protocols governing the marine industry. Mestad Marine has also gained considerable experience in cargo survey and is among the leading Ghana-government-gazetted marine surveyors in the industry. Some of the major clients of Mestad Marine Ltd are Maersk Line, Mol, Gardline Geosurvey-UK, Global Cargo Ghana, MSC-Ghana, ISAG, Dashwood Stevedoring, Sheringham, P&I Services Ghana and Ghana Maritime Authority, etc. Some major accomplishments of Mestad Marine LTF include cargo superintendence for UT logistics, fleet assessment for Tema Tuna Ventures (TTV), draft

surveys for the Canadian International Development Agency-PSU (CIDA-PSU, tally/draft surveys for sea transportation GH LTD and fire damage survey of dash-ment Co Ltd.

S & A FREIGHT HANDLERS PO Box CT 290, Accra Tel: (+233) 21 778678 Fax: (+233) 21 770047 www.sandafreight.com info@sandafreight.com In collaboration with some of our principal partners, S & A operate Door to Door services for those of our clients who require it. We have delivery vans and trucks for this purpose. S & A acts as consolidators and GSA for renowned Air and Sea Freight Forwarders from the world’s major shipping countries like the United Kingdom, United State of America, Holland, Germany, Belgium, China, Korea, Italy, and South Africa. S & A also operates as Clearing and Forwarding agent. We clear all kinds of goods from Dry containers and break bulk. S & A has so far managed various large project consignments which were internationally coordinated; each project a special challenge that requires

Railway Station Kumasi, 2005.

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Transport

personalized attention. Since S & A understands the client language and principles, our satisfied clients are testimony of our success and the solid foundation on which we build the future progress. We are never satisfied until our customers trust in our quality services.

SEKPO ENTERPRISE Mr. Cornelius Sekpodome Managing Director 2nd Floor, Manna House, Tema Inner Fishing Harbour, PO Box CO 1244 Tema, Ghana Tel: (+ 233) 22 203519 Fax: (+233) 22 202984/ 204787 sekpo@africaonline.com.gh www.sekpo.com Sekpo Enterprise is the creation of a former fishing company manager, Cornelius Sekpodome who in 1983 identified the need for an efficient ship handling service in the Tema Port of Ghana. Today, the business, which operates from modern offices overlooking the Harbour, is now the biggest but cheapest serving the port. Sekpo’s experienced and well equipped staff handles around a dozen regular clients as well as a host of casual customers to provide all gear and supplies. Annual turnover tops USD$200,000 and the company’s success stems from a thorough background knowledge especially of deck and engine stores, which is backed by dedication and attention to detail. Sekpo offer the widest range of products. They do provisions, cabin stores, engine stores, deck stores, bonded stores, laundry and stationery. Any other product, not in their list but available in Ghana can be supplied on request. Apart from these, They link the ships to other service providers and dealers in goods that are outside their domain for very little or no charge at all. This makes us the one-stop ship chandler in Tema. Regarding engine and deck stores, they get far more on the local market for the ships than other suppliers. This saves the owners/charterers the cost and the inconveniency of airlifting everything from Europe.

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SPEEDYTRIP LTD PO Box 379, Tema, Accra Tel: (+233) 93 02222, (+233) 35 02222 speedytripltd@gmail.com Speedytrip Limited is a Ghanaian based courier company that handles all forms of deliveries, be it Haulage, Parcel or Document deliveries, and Food deliveries. Their main office is located in Tema with others in Accra and Kumasi. Speedytrip commenced business 6th September 2007 on the University of Ghana campus Legon, from a humble beginning of 2 motor bikes. Speedytrip has grown to be a reliable courier company even in the Hauling Industry. They are renawned for prompt delivery and reliable service. They cater for major institutions as well as individuals and groups. Their services are reliable as well as very affordable. And negotiations and plans are far underway into the possibility of taking care of overseas deliveries in the shortest possible time.

WILTEX LTD Mr. Thomas Appiah Managing Director PO Box 623, Tema, Ghana Tel: (+233) 22 202183 Fax: (+233) 22 206540 wiltex@4u.com.gh www.wiltexghana.com Wiltex Ltd is a multidisciplinary firm that offers planning and engineering services to the Maritime Establishment, Insurance Companies, Utilities and Government Agencies and Industries. The company was set up by the late Mr. Isaac Kweku Wilmot, who was also the Managing Director in January 1980. Since then, Wiltex has over the years offered a variety of management and technological services, backed by qualified staff with considerable technical experience.

Transport

Particularly within the marine industrial sector, Wiltex demonstrates a wide range of knowledge and experience as well as enormous experience in ships operation and administrative process. Wiltex has a wide range of experience and collaborates in its work with the following categories

of professional entities: • Consulting Marine Engineers, Naval Architects and Ship Surveyors • Valuation, Loss Adjusting, Claims Management, and Risk Analysis Services • Mechanical Engineering Consulting Services • Insurance Consultants

First official car used by Prempeh

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TOURISM INDUSTRY

Rain wets a leopardâ&#x20AC;&#x2122;s skin, but it does not wash out the spots Ghanaian proverb

Tourism Industry OVERVIEW Ghana is fast becoming a leading destination for tourists in Africa and is rated as one of the highest foreign exchange earners in the country. Efforts are under way by the government through the Ministry of Tourism and the Ghana Tourist Board to develop and support the effective management of the industry to become a major source of foreign exchange and revenue for the development of the country. The country boasts of historical sites, including forts and castles, cultural monuments, craft villages, beautiful nature parks and gardens, and sandy beaches that make it a unique destination for the international tourists to Africa. Ghana’s greatest asset is its people who are renowned the world over for their warmth, cheerfulness, and hospitality.

FESTIVALS Each year, festivals and durbars are held in various parts of Ghana, to celebrate the heritage and culture of the people. Several rites and rituals are performed and most of the celebrations are attended by entire villages and are strictly observed by the traditional elders of the respective ethic groups. Some major festivals include Akwaisidae by the Ashantis, Homowo by the Gas, Hogbetsotso by the Ewes, Damba by the Northerners and Aboakyir by the people of Winneba.

Ghana, Dr. Kwame Nkrumah, the Accra International Conference Centre, Ghana Academy of Arts and Science and the National Archives of Ghana.

Beaches AND LAKE Resorts Ghana faces the Atlantic Ocean and has hundreds of kilometres of fascinating beaches in the Greater Accra, Central, Volta and Western Regions. Most beaches in the country are open to the general public and with their tropical climate and beautiful environmental conditions they are ideal for tourists to relax. Major beach destinations include Labadi beach, Coco beach and the Kokrobite beach, in Accra, Winneba beach, Elmina beach, Anomabo beach and Gumoa Fetteh beach in the Central region, Busua Pleasure beach, Princesstown beach and Miami Beach in the Western region, Keta beach in the Volta region and Ada Beach in the Greater Accra region. Some of the popular beach resorts in Ghana are Coconut Grove beach resort, Biriwa beach resort, Next Door beach resort, White Sands beach resort, Tills No 1 beach resort and Ada Manta Paradise beach resort.

Forts and Castles Forts and castles dotted along Ghana’s coastlines were built and occupied at different times by the traders from Europe, Portugal, Spain, Denmark, Sweden, Holland, Germany and date back to the 15th Century. Most of the castles and forts have been restored and open to the public. The major ones include Cape Coast and Elmina Castles in the Central Region, Christianborg and Fort Castles in Accra. Sample Ghana’s exotic beaches

MUSEUMS AND other attractions

Water falls

Ghana is home to various art and craft centres and museums. Among the attractions are the National Museum which has a display of exhibits that reflect the heritage of the country, the National Theatre with its distinct modern architecture, the Independence Square, the Kwame Nkrumah Mausoleum which is the final resting place of the first president of

Ghana has scenic waterfalls in attractive rural and forest settings along the coastal regions of the country. These waterfalls are covered by green vegetation and provide scenes of the beauty of nature. Some of the waterfalls have cages forming at their sides whiles other falls consist of series of falls and provide ideal ground for picnics. There are also

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Tourism Industry

Boti Falls

seasonal waterfalls at Alambo and Likpe Todome in the Volta region. Some popular waterfalls in Ghana and their location are listed below:

Popular waterfalls in Ghana and their location

Name of Waterfall

Location

Tagbo Falls

Volta Region

Tsatsadu Falls

Volta Region

Boti Falls

Eastern Region

Begoro Waterfalls

Eastern Region

Fuller Falls

Brong Ahafo Region

Kintampo Waterfalls

Brong Ahafo Region

Tsenku Waterfalls

Eastern Region

Wli Falls

Volta Region

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NATIONAL PARKS AND GARDENS Ghana boasts of a number of national parks and gardens which are a store of spectacular wild life and exotic plant life. The most visited ones include The Kakum National Park in Cape Coast has a canopy walkway for obtaining a delightful view of the surrounding tropical rainforest, elephants, monkeys and other tropical species. The Aburi gardens on the Akwapim ridge in the Eastern region is a peaceful and fascinating place with a diverse range of plant species. The Mole National Park in Tamale provides a adventurous environment for visitors. Its home to a large number of different elephants, antelopes, waterbucks, hartebeests, buffalo, amphibians, reptiles and bird species, Digya National Park on the central shores of the Volta Lake, is largely savannah woodland and its home to mammals including elephant, buffalo, water buck, hartebeest, bush

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pig, baboons, crocodiles and five other species of monkeys crocodiles.

Other Tourist attractions Other popular tourist attractions include Boabeng -Fiema monkey sanctuary in the Brong Ahafo region with more than 500 Mona and 200 Geoffrey’s Pied Columbus monkeys which live with the people of the area, Tafi monkey sanctuary, in the Volta region, where the tropical forest is home to endangered, Playful Mona and Patas monkeys.

giving guests the warmth of a true Ghanaian experience. Their approach in design and décor has been carefully created to reflect the colour of Africa and to embrace a Ghanaian look in style and design of our fixtures, fittings, furniture and staff uniforms.

One of the frequently visited tourist attractions in Ghana is the Larabanga Mosque in Tamale. It is believed to be one of the oldest mosques in West Africa and is the oldest mosque in Ghana.

Whilst they shall be very much aware of the needs of all our guests, regardless of their origins, they will always strive to make them feel comfortable and well looked after.Guests will feel very much at home in our hotel, with every comfort and first class service provided by highly trained staff who know the essence of making every guest feel special. Their guests are the most important people in the hotel and we will never forget that they have a choice they in hospitality. Their goal will be to justify the choice they have made by entrusting their hospitality needs to The African Regent.

LODGES AND HOTELS

NOVA HOTEL

Ghana has several forms of accommodation, ranging from five star hotels to home stays. These are of good quality and can be located in all capitals, districts and towns in the country. Five star, four star and three star hotels can be located in the Airport area, Osu Roman Ridge, Labadi and Central Accra. Accommodation facilities of international standards can be found at popular beach destinations such as Ada Foah, Gomoa Fetteh, Elmina, Axim and Busua

Main Entities

THE AFRICAN REGENT HOTEL

Mr. Jean Marie Alan Ackloo Managing Director North Airport Road, Accra, Ghana Tel: (+233) 21 7651802 www.african-regent-hotel.com info@african-regent-hotel.com

The African Regent was set out to create an atmosphere responsive to the culture and heritage of Ghana. A hotel that has a Ghanaian identity.It is a unique combination of African design with an ethnic touch, delightfully exuding Ghana’s rich cultural heritage in a fascinating collection of artefacts, paintings and designs that uniquely depicts the Kente and Adinkra symbols. Guests will experience The African Regent’s unique character in a kaleidoscope of strong vibrant colour embracing the African concept and

Mr. Mahmoud Attieh Managing Director 4th Lane, Kuku Hill, Opp. Revenue Towers, Osu, Accra Tel: (+233) 21 775584 Fax: (+233) 24 6941941 www.novahotelsghana.com The Nova Hotel is a comfortable one-star hotel located at Osu, opposite the Internal Revenue (LTU).The Hotel was incorporated on the 28th day of February 2008 as an enterprise under the Ghana company’s law act 1963 with the objective of providing quality hospitality services for travellers, holidaymakers and tourists. Their mission Statement is to be a hotel of distinction and excellence. They strive to give their clients quality hospitality service which is consistently perceived as clean, comfortable, well-maintained and attractive. Located in the centre of the city at Osu Accra, and staffed by friendly, attentive and efficient people who are well trained in the hospitality industry, They provide the traveller, the holidaymaker and the tourist with economy and quality mid-priced lodging facilities that exceed their expectations. Nova hotel is notable for offering impeccable single room accommodation; double room accommodation; studio room accommodation; double room apartments; minibar and restaurant services. Their studios rooms are equipped with kitchenettes for long stay guests. Guests of Nova Hotel would have real opportunity to experience and enjoy the traditional Ghanaian hospitality. An

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Tourism Industry

expansive furnished balcony is accessible from the living area and offers a level of comfort and elegance unparalleled in the city of Osu-Accra. The rooms offer classic furnishings that are an immensely pleasurable find for the traveller and the holiday maker who desires the finer things with a warm African touch. Elegant with a touch of class, their mini restaurant can boast of an array of uniquely designed cocktails and assorted wines, the Nova hotel is the essence of Ghanaian hospitality. Whether absorbing the energy of Osu city life or relaxing in their hotel their mini-restaurant provides an ambiance to stimulate your senses.

THE PAINTSIWA WANGARA CONDOMINIUM APARTMENTS Adiza Issaka Managing Director 5th Lane Ave of Osu (Main Commercial Street), PO Box 6565, North Accra

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Tel: (+233) 21 782171 / 773377 Fax: (+233) 21514147 paintsiwaapartments.com info@paintsiwaapartments.com Paintsiwa Condominium Apartments is the most ideal and convenient place for the comfort of short and long stay visitor to the city of Accra. Paintsiwa Wangara Condominium Apartments is a conglomeration of Two Bedroom, Bed/Living and Studio types. The apartments are very spacious and and ideal for short and long term rentals. We are located on 5th Lane Ave, five minutes walk off the Main Commercial Street of Osu â&#x20AC;&#x153;Oxford Streetâ&#x20AC;?, where every visitor to the city will like to visit. It is also a five minutes drive to the Civic Centre and Business District of the city and the beach. A Chinese Restaurant is located next door to the apartments and there are more than twenty different kinds of restaurants, offering different cuisine and Entertainment Centres within 100 metre radius of the Condominium. Friendly English-speaking professionals are on duty

Tourism Industry

7 days a week. Mail/courier services and laundry/dry cleaning pick-up are also available for a fee. We thoroughly clean every room before a new customer checks in, and also provide cleaning and linen changing (sheets, pillowcases and towels) services once a week during your stay. Public areas in the building are also kept immaculately clean. Additional cleaning services, available for a fee, include laundry/dry cleaning and more frequent room cleaning.

relax, the comfortable Apart’ Hotel offers a soothing reprieve from the buzz. Each of the apartments features a modern living space which doubles up as a home office, complete with the high speed broadband internet access and satellite TV. Outside the apartments you can enjoy the swimming pool and the tropical garden. With everything from culture to cuisine to commerce right to your doorstep, you’ll never have a dull moment at La Paradise Inn.

PENTA HOTEL

LA PARADISE INN Donna Agyepong and Vitto Manna, Founders 4Th Street South La Estate, Osu, PO Box OS 520, Accra Tel: (+233) 30 2914563 www.la-paradiseinn.com laparadiseinn@gmail.com La Paradise Inn was founded by Donna Agyepong (UK-Ghanaian) and Vitto Manna (Italian), keeping in mind, the comfort for people who are coming to Ghana, whether for business or holiday, and have a desire to be immersed in a green and open environment, so they can really enjoy the beauty of Africa. All the guests have the facilities to cook their own food, enjoy the space inside and outside the apartments; The Garden, the Swimming Pool and much more. If you are too busy to prepare your own food, you can try their exquisite home-made recipes served direct to your living room or outside on the patio. If you are a Ghanaian living abroad and you are coming to your home town for business or holiday and you want a smooth living in Ghana, then you are in the right hands. La Paradise Inn apartments are ideal for short & long stay, providing the comfort and facilities, you all have come to expect in quality hotels. At La Paradise Inn, you will enjoy more space, freedom, home atmosphere & cheaper rates. Right in the heart of the vibrant Osu, area of Accra, La Paradise Inn is surrounded by a diverse array of shops and restaurant, cafe’s and clubs offering nostop day and night activities. Yet, when you wish to

Mr. Koranteng Managing Director PO Box 7354, Accra North Tel: (+233) 30 2774529 Fax: (+233) 30 2760812 pentahotel@ymail.com

Penta Hotel has a long history as one of the hotels established in the late seventies. It has recently undergone a massive renovation and refurbishment. Whether your visit to Ghana is for business or leisure Penta Hotel is ideal for you. It is tucked on the ever bubbling ‘Oxford Street’ in Osu, the very heart of Accra. It is just 4km from Kotoka International Airport and also a mere 5 minutes drive from the golden sands of the Atlantic Ocean. Other landmarks which are close to the Hotel are the Kwame Nkrumah Mausoleum (4km), Labadi Pleasure Beach (3km); the Independence Square (2km), the Ohene-Djan Sports Stadium and the most famous Makola Market. A drive to the commercial and political centres in the city takes 4 minutes. The hotel has 26 luxurious bedrooms tastefully furnished with the state-of-the-art facilities. Each room has a Separate Bath, Air-conditioning, Television (including DSTV), Refrigerator, Internet Wi-Fi facility available. Customers with Laptops can access from their respective rooms. Room rates are inclusive breakfast. Our 50 seat Restaurant offers a variety of sumptuous Western, Eastern and Middle Eastern dishes and opens from 6am to 12 midnight. The service is unmatched. The outside Bar is well stocked with any drink you can imagine, the connoisseur’s ultimate dream. A Bureau de Change is available for 24 hours. A Travel Agency is located in the hotel building. Another landmark is the Car-hiring service. A back-up Generator is available 24 hours in the event of power loss from the local grid.

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PUBLIC SERVICES

A cracked bell can never sound well Ghanaian proverb

Public Services OVERVIEW The health industry comprises all firms directly involved in the production and promotion of health care. These include all firms (both public and private) that are involved in the manufacturing of health products, provision of health care, health enhancing services and generation of knowledge in support of health. The health industry as a new concept has not been recognized and analyzed. The capacity of the local manufacturing industry is under-utilized and the potential of Ghana’s herbal and traditional medicines is largely untapped. The overall aim of the health sector is to promote healthy lifestyles and reduce risk factors that arise from environmental, economic, social and behavioural causes. A major prerequisite for a healthy population is how individuals, families and communities take care of themselves and the environment. Information with the specific aim of empowering people to make the right choice for healthy living has been seen as critical. The main disease burden of the country demonstrates a preponderance of diseases resulting from neglect of basic environmental practices and changes in dietary habits, physical activities and adoption of life threatening behaviour.

organizations and private medical practitioners operate hospitals and clinics all over the country. Herbal medicine and psychic healing are also generally practiced, while a special government Herbal Medicine Hospital and Research Centre exists at Akwapim-Mampong.

Health Professional Density in Ghana, 2009

Indicator Medical Officers

1950

General Nurses

8,544

Midwives

3,455

Community Health Nurses

3,864

Medical Assitant

10,000 8,000

2,000

37%

2009 Performance

• Health Services • Communicable Disease Control • Non Communicable Disease Control • Reproductive and Sexual Health • Nutrition • Accident and Emergency Services • Clinical Care • Traditional and Alternative Medicine Practice • Rehabilitation

All regional capitals and most districts have hospitals, polyclinics and clinics. Two teaching hospitals in Accra and Kumasi have facilities for treating special cases. Additionally, a number of religious

840

% Districts with appointed Health Information Officer

6,000

Infrastructure and Resources

2457

Pharmacists

The structure of Ghana’s health industry consists of the following:

The national health vision is to attain middle income status with 1000 USD per capita by the year 2015 by creating wealth through health.

2009 Performance

4,000

s .. ... nt es ers acists rse ith. alth ssista wiv ffic Nu ts w He Mid al O Pharm neral lA ity tric a s n c i i u d Ge %D Me mm Co

c edi

2009 Performance

INVESTMENT OPPORTUNITIES Investment opportunities available in the health sector are in: • Hospitals and clinics • Health Centres • Maternity Homes • Hospital equipment • Laboratories • Research and development facilities • Drugs and pharmaceuticals • Chemical shops • Preventive products e.g. condoms, mosquito nets

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Public Services INVESTMENT INCENTIVES Import climate As the Healthcare sector relies on imports there is a very open import climate. Ghana does not have any explicit import restrictions or tariffs that apply specifically to used or refurbished medical equipment in general. Most hospital equipment including ambulances is exempt from duties and taxes by the Ministry of Finance. Some pharmaceuticals are exempt from duties and taxes.

Tariff Structure for Imports • Zero Rate Duty: Imported Mosquito nets falling within Heading No. 5608. 19.00.10 of the HS Code shall now be admitted free of Import Duty. • Twenty (20) Percent Rate: 20% is the standard rate of duty. • Exemptions: Exemptions on gifts of a charitable nature imported by NGOs are limited to only those for Health and Educational purposes. • Technical/safety standards: Pharmaceutical import requirements • All Drugs registered • 18 month minimum shelf life • All labelling must be in English • Every drug imported must be registered with the Food & Drugs board

provided under law are buttressed by the Ghanaian Constitution. Some investment guarantees are as follow: a. Free transferability of capital, profits and dividends. b. Insurance against non-commercial risks – Ghana is a signatory to the World Bank’s Multilateral Investment Guarantee Agency (MIGA) Convention. c. Double Taxation Agreements (DTAs) – to rationalize tax obligations of investors in order to prevent double taxation. DTAs have been signed and ratified with several countries.

POTENTIAL SOURCES OF FUNDING

INVESTMENT GUARANTEES

Viable companies and projects can easily attract financing both on the local and international financial markets. The main sources of funding are:• 29 Banks • 44 non-bank financial institutions • 135 rural banks • The Ghana Stock Exchange – note that in the last four years, many issues of shares on the GSE have been oversubscribed by 100% - 300%, meaning that there is a lot of money for investment purposes • Ghana Venture Capital Fund • International development finance institutions based in Ghana, such as the International Finance Corporation (IFC) and the African Development Bank (AfDB)

Ghana is a safe investment destination. Guarantees against expropriation of private investments

A number of foreign financial institutions also provide off-shore financing directly to companies in Ghana.

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Public Services

Kejetia Market

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AGRICULTURE

A knife does not know who its master is Ghanaian proverb

Agriculture OVERVIEW From Ghana’s total land area of 23.9 million hectares, about 57% is suitable for agricultural purposes. Agriculture contribution to GDP over the years has shown a steady reduction from 35.4% in 2006 to 34.3 in 2007 and to 33.59% in 2008. The growth rate of the sector however doesn‘t show a clear trend. The growth rate reduced from 4.5% in 2006 to 4.3% in 2007 and increased to 5.17% in 2008. Value of Export of Selected Commodities for 2008

Product

Value (US$)

Cashew

20,423,939

Coffee

3,070,003

Shea Nut

24,939,825

Maize

81,507

Yam

14,888,801

Exotic Vegetables

2,576,739

Pineapple

11,842,250

Mango

521,826

Pawpaw

334,453

Fish and Sea Food

61,005,335

Banana

12,717,079

The total volume of processed products exported in 2008 was 14,840,535 mt. Products exported during the year included cocoa paste, baby food, wheat floor, tomato paste, dried pepper, groundnut paste, maize flour, yam flour, coconut oil, gari, prepared coffee and dried, smoked and salted fish. The country is classified into three main agriculture zones. The forest vegetation zone consists of parts of Western, Eastern, Ashanti, Brong-Ahafo and Volta Regions. The northern savannah vegetation zone includes the Upper East, Upper West and Northern Region while the coastal savannah includes mainly the Central, Greater Accra and parts of Volta Region. The northern savannah zone is the largest agriculture zone. Most of the nation’s supply of rice, millet, sorghum, yam, tomatoes, cattle, sheep, goat and cotton are grown in the region. In recent times, mango and ostrich commercial farms are also gaining footholds in the northern zone. The coastal savannah is notable for rice, maize, cassava, vegetables, sugar cane, mangos and coconut, as well as livestock. Sweet potato and soybean crops are viable in this agro–ecological zone, under irrigation. The lower part of this zone is drained by River Volta. Together with other streams and lagoons, these water resources present opportunities for fish farming or aquaculture. In the forest zone where rainfall is plentiful, cocoa, coffee, oil palm, cashew, and rubber are cultivated as is the majority of plantain, banana and citrus supplies crops. The major strengths of the sector

Main agricultural products

USD$

70,000,000 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000

ew Co ffe Sh e ea nu t Ma ize Ya m Ve ge Ex tab otic Pi les ne ap ple Ma ng Pa o wp a Se Fi w a F sh oo & Ba d na na

100

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Agriculture

include a diversity of commodities, well-endowed drainage basin, a well-established agricultural research system and a relative proximity to the European market.

Contribution to National GDP and Growth Rate Agriculture contribution to GDP over the years has shown a steady reduction from 35.4% in 2006 to 34.3 in 2007 and to 33.59% in 2008. The growth rate of the sector however doesn‘t show any clear trend. The growth rate reduced from 4.5% in 2006 to 4.3% in 2007 and increased to 5.17% in 2008.

Ghana processes between 18% and 22 % of its cocoa output into liquor, paste, and butter for export markets, while all other cocoa is exported in its raw state. The total export of non-traditional Agriculture Products for 2008 was 356,497,537kg amounting to USD$187,621,229. The leading non-traditional products were Fresh or chilled tunas, Shea nuts, Cashew, Fresh or chilled fish, yams, Banana and Pineapples. Ghana commands a great share of the African quota of EU market in fruits and vegetables export. Other leading processed agricultural export products were processed tuna, cut fresh pineapples, other prepared fish and tomato paste.

Gross Domestic Product (at constant 1993 Prices) and growth rate

Activity

2000

2001

2002

2003

2004

2005

2006

2007

2008

35.9

35.8

36.1

36.6

36.0

35.4

34.7

33.59

Gross DomesticProducts Product Gross Domestic Agriculture Crops & livestock

24.36

24.5

24.7

24.4

23.8

23.0

22.7

22.28

Cocoa

3.5

3.3

3.1

3.5

4.3

4.6

4.4

4.3

3.90

Forestry & logging

3.5

3.6

3.4

3.3

3.20

Fishing

4.6

4.5

4.4

4.1

4.4

4.21

GDP

3.7

4.2

4.5

5.2

5.6

5.9

6.43

5.7

7.3

Agriculture

2.1

4.0

4.4

6.1

7.0

4.1

4.5

4.3

5.14

Crops & livestock

1.1

5.0

5.2

5.3

4.3

3.3

3.5

4.0

5.82

Cocoa

6.2

-1.0

-0.5

16.4

29.9

13.2

2.0

6.5

5.0

Forestry & logging

11.1

4.8

5.0

6.1

4.2

5.6

2.6

2.5

3.5

Fishing

-1.6

2.0

2.8

3.0

6.2

-1.2

15.0

3.0

Growth rate

Source: Ghana Statistical Service

THE MARKET

INVESTMENT OPPORTUNITIES

Cocoa has historically been a key economic sector and a major source of export and fiscal earnings. Ghana is the second largest cocoa-growing country in the world. Cocoa production amounting to 674,808 tonnes with a farm gate value GH ¢684,501,000 was produced during the 2007/2008 year. In all, 551,626 tonnes of cocoa was exported which generated a revenue of USD$1,160,450,099.94. The volume of cocoa processed locally accounted for 123,182.40 mt.

• Provision of agricultural inputs such as improved seeds and agrochemicals including fertilizers, pesticides and herbicides. Veterinary drugs, vaccines and chemicals; animal feed and feed ingredients are also required.

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• Opportunities exist in the processing of agricultural products such as cereals (maize, rice, millet) starchy crops (yam, cassava. Sweet potato, plantain), legumes (carrots, cabbage, garden eggs, to-

101

Agriculture

The Finest fresh produce in Makola Market

mato), fruits (pineapple, pawpaw, banana, mango), industrial crops (rubber, sugarcane, cotton, oil palm, coconut, cocoa, coffee), livestock (cattle, pigs, poultry, sheep) and fisheries (tuna, tilapia, catfish). Rearing of silk worm for the production of raw silk. • Additionally there is a need for the processing of dairy products as well as the supply of machinery to establish hatcheries for day-old chicks. • Floriculture offers a lot of opportunities as Ghana’s climate and topography make the country suitable for the cultivation of a number of exotic flowers. Species such as heliconia, caribea, celosia, curcuma, gladioli, hibiscus, roses, ornamental palms and ferns perform well under natural conditions. There is potential in the national, regional and European Union markets. • Investment opportunities exist in the agroprocessing industry to add value, reduce postharvest losses, promote price stability and expand demand for local agricultural produce. For example, with the processing of cocoa beans into cocoa products and fruits into fruit juices among others. • Developing irrigable land through irrigation is another key area. While Ghana has a potential

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irrigable area of 346,000 hectares, only 10,000 hectares have been developed. • Technological and support services also require investment. Key areas are in the supply and installation of cold chain equipment, packaging and factory building technology. • In the distribution field, companies are required to provide post-production services in transport, packaging and cold vans. • There are further opportunities in standards, training and certification; capacity building for management and market-oriented enterprises; market intelligence research and in the development of agricultural finance and insurance. • Investment opportunities exist in the production of agricultural inputs such as fertilizers, pesticides and fungicides. • Technology and services in the agricultural sector which include irrigation, heavy equipment hiring (i.e. hiring of tractors, ploughs, harrows and combine harvesters etc) provide investment opportunities. • Investment opportunity also exists in the storage

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Agriculture

industry. Inadequate and inappropriate storage facilities are constraints to agricultural production thereby contributing to high post-harvest losses and low returns for farmers and processors.

Main Entities COCOA PROCESSING CO LTD Plot IND/A/10/1, PO Box 218, Heavy Industrial Area, Tema Tel: (+233) 22 202914; (+233) 30 3212153 www.goldentreeghana.com info@goldentreeghana.com

investors basically to produce milk to compliment the protein requirements of the Ghanaian. The main product of the Company at incorporation was pasteurized milk. In 1962 the Company underwent two significant changes. Firstly its name was changed to Fan Milk Limited, and secondly the product portfolio was widened with the change of name to include ice cream, yoghurt and ice lollies. Fan Milk Limited became the first Foreign Company to become Public Limited Liability in 1967 and again among the first Companies to be listed on the Ghana Stock Exchange in 1990. The company had over 3,250 shareholders as at the end of the year 2003, and the number is still growing.

Established in 1965, Cocoa Processing Company Limited (CPC) is situated in the picturesque port city of Tema in Ghana on the Greenwich Meridian (Longitude 0°). The company comprises three factories: two Cocoa Factories and a Confectionery Factory. Cocoa Processing Company Limited is a limited liability company incorporated in Ghana on November 30, 1981. The shares of the company are publicly traded on the Ghana Stock Exchange.

The company currently provides direct employment to over 330 individuals and indirect employment to a further 8,000 people. Their HQ is located at no. 1 Dadeban Road in the northern industrial area of Accra. However, there is a further presence nationwide in strategically located distribution outlets so that products are readily available to the people of Ghana.

The Cocoa Factories have an annual throughput of 64,500 metric tonnes of Premium Ghana Cocoa beans which it processes into Cocoa Liquor, Cocoa Butter, Cocoa Cake and Cocoa Powder. These semi-finished products are the major ingredients for the production of chocolate and other cocoa-based food products. The semi-finished products are sold under the Portem brand name to foreign markets.

GHANA AGRO FOOD COMPANY LTD – GAFCO

The company however retains a portion of the semi-finished products for use in the Confectionery Factory. The Confectionery Factory manufactures chocolate confectionery namely, chocolate bars, chocolate spread, drinking chocolate and chocolate dragees. The confectionery products are marketed under the brand name GoldenTree.

FAN MILK LTD Dr. Charles Mensa, Chairman of the Board of Directors No 1 Dadeban Rd, North Industrial Area, Accra Tel: (+233) 30 2224732, (+233) 30 2223384 Fax: (+233) 30 2221951 www.fanmilk-gh.net Our Company was incorporated in 1960 as Ghana Milk Company by a group of Scandinavian

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Hanna Tetteh General Manager PO Box 11345, Tema Harbour Area, Tema Tel: (+233) 21 204122/4 Fax: (+233) 21 7011683 www.gafco.com.gh info@gafco.com.gh Ghana Agro Food Company Limited - GAFCO is a leading company in Tuna canning, wheat milling; feed milling and fishmeal production; agro feeds and veterinary drugs in Ghana. The mother company of GAFCO Industrie-Bau Nord AG (IBN), conceived a new design for integrated agricultural processing complexes in developing countries in the late 1950’s. This integrated strategy was illustrated in the engineering designs and feasibility studies prepared in 1962 for a “Tema Food Complex” in Ghana: The complex was designed to integrate several agricultural processing facilities. The plans necessitated that a wheat mill, an oil mill, a cocoa plant and an animal feed mill be housed within its borders. Through the efficient use of byproducts and both forward and backward integration,

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the former Tema Food Complex was intended to play an important role in the provision of basic food products to the citizens of Ghana.

TWIFO OIL PALM PLANTATIONS LTD Mr. I.K Yeboah Managing Director PO Box 14204, Accra Tel: (+233) 21 772449 Fax: (+233) 21 775039 Twifo Oil Palm Plantation Ltd (TOPP)Â has a total of 4,234 hectares of oil palm in the Twifo-Hemang-lower Denkyira District. The company has aÂ processing

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capacity of 20 tonnes of fresh fruits bunches an hour. TOPP is an Agricultural Project initiated by the Government of Ghana in 1977 with loan financing from the EU, CDC, FMO and the Netherlands Government. Work on the plantation commenced in August 1978. The nature of business of the company include: growers of oil palm and other agricultural products, processors of oil palm fruits and palm kernels and other agricultural products. The major shareholders of the company are the government of Ghana and Unilever Ghana Ltd. The Estate is situated at Twifo Ntafrewaso/Twifo Mampong area. The company has an office in Accra that handles shipping, supplies and other business issues.

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ENTERTAINMENT

I demolish my bridges behind me - then there is no choice but to move forward. Ghanaian proverb

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Entertainment OVERVIEW CLIMATE Ghana has a tropical climate, however temperatures tend to vary depending on the season and elevation. With the exception of the northern part of the country, there are two rainy seasons, the first from April to July and the second from September to November. The north’s rainy season spans from April to September. Annual rainfall ranges from about 1,100 mm (about 43 in) in the north to about 2,100 mm (about 83 in) in the southeast. A dry desert wind referred to as the Harmattan blows from the northeast from December until March, lowering the humidity levels and resulting in hot days and cool nights in the north; these effects in the south are felt in January. In general, the majority of Ghana experiences the highest temperatures in March, and the lowest in August.

Ghanaians are very cheerful people and love to celebrate festivals and events throughout the year. Celebrations such as Christmas and Carnival are celebrated on a large scale and have the capability of bringing a whole tribe or clan together. In the tribal culture, the major decisions regarding any custom and other tribal matters are taken by leaders and chiefs. Factors like formal education, membership in professional associations, and ethnic affiliation decide the importance of a person in society. As far as the status of women is concerned, women can expect to travel within the country without any problem. Ghana is an extremely safe country as is reflected in its “treat one as you would like to be treated” common value.

Culture

The celebration of festivals is an integral part of Ghanaian culture. Several notable rites and rituals that are performed throughout the year include childbirth, rites of passage, puberty, marriage and death.

Ghanaian culture puts an emphasis on individual conduct and behaviour and this has a direct impact on society and family. Everyone aims to be hospitable, kind-hearted and respectful in public gatherings as well as towards other walks of life.

Ghana culture is never complete without mentioning its music, which is an integral part of the Ghana traditions. Highlife music is the traditional and ethic music which is played during festivals and funerals, and the choral music which is performed in schools,

A fine destination for family chillout holidays

National Specialties The basic diet consists of a starchy staple eaten with a soup or stew. Forest crops, such as plantain, cassava, cocoyam (taro), and tropical yams, are dominant in the south. Corn and rice are also very significant staple foods in Ghana, especially among the Ga people. The country’s national dish is fufu, ground plantain or tubers mixed with cassava. Soup ingredients include common vegetables and usually fish, plus, inevitably, hot peppers. Palm nut and peanut soups are special national favourites.

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colleges and churches, it is the most quintessential musical genre in Ghana.

Food Food is extremely cheap in Ghana compared to Western prices and traditional Ghanaian food is fun to try and easy to enjoy. Fufu, the most widely served traditional dish, consists of pounded balls of yam, plantain, or cassava served with soup, and a side of goat meat or fish. Soups are typically made of groundnuts, palm nut, okra and other vegetables. Rice dishes are very typical, but not considered a “real meal” by many Ghanaians, males especially. Jollof rice is a dish as varied as the people who prepare it, but it generally consists of white rice cooked with vegetables, meat and spices in a tomato-based sauce. Waakye is a mix of beans and rice, typically served with gari, a powder of ground cassava. Often, rice dishes are served with shredded lettuce, cucumber and tomatoes on the side with a dollop of salad cream or mayonnaise. Such meals are extremely cheap from street vendors and can be purchased for as little as GH¢1.50 to GH¢2.50. Plantains, yams, and sweet potatoes are prepared in various ways and are considered to be small snacks. Kelewele, a spiced fried plantain snack, is especially delicious. Fresh fruits such as pineapple, mango, papaya, coconut, oranges and bananas are delightful when in season and are sold for as little as 10 cents the bag.

processed into a paste and eaten with a soup as well. Indigenous diets are eaten at all social levels, even by the Westernised elite. Bread is the only major European contribution to Ghanaian cuisine and it is often eaten at breakfast. Restaurants are not common outside of urban business districts, but most local “chop bars” offer a range of indigenous dishes to workers and bachelors. People frequently snack on goodies offered for sale by street vendors.

Some typical dishes you should expect to eat in Ghana:

• Kenkey (hot peppers and fried fish, eaten mostly in the Accra region). • Akyeke (cassava couscous served with avocado). • Fufu (pounded cassava beans, yam, plantain or rice, usually accompanying traditional soups (palmnut, groundnut), kontomere and okro (stews). • Fante fante (a palm oil stew with small fish, popular in the central regions). • Akrantee (bushmeat).

National Drinks The Ghanaians drink in ‘spots’ (open air bars), these typical Ghanaian drinking holes are notably characterised by their coloured walls and relaxed atmospheres.

A great African meal in a restaurant can cost as little as GH¢3.00 to GH¢7.00. For example, a lobster and shrimp dinner can cost a mere GH¢6. There are also a number of Western and Chinese style restaurants available, especially in Osu, a trendy suburb of Accra.

The most notable local beers are Star, ABC and Club. Ghana also has locally produced wine known as Palm Wine that can be tried in these mentioned ‘spots’. As far as stronger alcohol goes, try “Takai” (32% and made from a base of Cocoa and Coffee) or “Alomo Bitters”, a stronger aperitif.

National Specialties

Customs and Traditions

The basic diet consists of a starchy staple eaten with a soup or stew. Forest crops, such as plantain, cassava, cocoyam (taro), and tropical yams, are dominant in the south. Corn and rice are also very significant staple foods in Ghana, especially among the Ga people. The country’s national dish is fufu, ground plantain or tubers mixed with cassava. Soup ingredients include common vegetables and usually fish, plus, inevitably, hot peppers. Palm nut and peanut soups are special national favourites. The main cooking oil is locally produced red palm oil. In the north, the staple food is millet, which is

Most households raise chickens and dwarf goats, which are reserved for special occasions, such as christenings, weddings, traditional festivals and Christmas. Among the Akan people, the main indigenous celebration is odwira, a harvest celebration, in which newly harvested yams are offered to the chief and eaten in public feasts. The Ga people celebrate homowo, another harvest festival, which is marked by eating kpekpele, made from mashed corn and palm oil. Popular drinks include palm wine, made from the fermented sap of the oil palm, and home-brewed millet beer. Bottled

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European-style beer is widely consumed as well. Imported schnapps and whiskey have important ceremonial uses as libations for paying homage to ancestors.

Dance

forms of entertainment focus on highlife music, a samba-like dance style prevalent in most urban nightclubs.

SPORTS AND LEISURE ACTIVITIES

The most popular and well-known music to come out of Ghana is ‘Highlife’, a mix of different homegrown styles which fuse traditional percussion rhythms with various European, American, and even Caribbean influences. Highlife, developed in the 1920s, reached a peak of popularity between 1950 and 1970. You can still get classic highlife music from the 1950s, now available on CD. E.T. Mensah is one of the pioneers of this music genre and is a good starting off point when discovering this genre. Another all-time classic, first released in 1978, is Eric Agyeman’s Highlife Safari. The title track, Matatu Mirika, has a reputation for setting the mood at Ghanaian parties alight.

Ghana offers a wide array of sports and leisure activities for the young and the young at heart. The country’s location along Africa’s west coast has endowed it with pristine tropical beaches along the Atlantic Ocean. One of these unspoiled beaches is the Brenu Akyini Beach in the Central Region.

Clubs

Football is Ghana’s national sport. Given the ‘Black Stars’ - the Ghanaian team’s – spectacular performance in the 2006 World Cup, it is expected to improve even more in the near future. Football in Ghana is everywhere! Whether it be flags on cars, stickers on taxis, locals in football jerseys or kids playing in the street, it is immediately apparent that Ghanaians are extremely passionate about football.

Accra has a variety of nightclubs catering to the ex-pat community, among these include the most reputable ones such as the Aphrodisiac Nite Club, the best for late night clubbing. The Boomerang is another notable club, situated at the Kwame Nkrumah Circle, it attracts the young crowd in Ghana’s night circuit and typically fills to capacity on the weekends, its plays a mix of R&B and HipLife (Ghana’s response to Hip-Hop) on Fridays and Saturdays and has a Francophone Mix on Thursday nights as well. Another popular choice for going out is the Wai-ki-ki, in Piccadilly, right off Ring Road Central.

The Busua Beach Resort and White Sands Beach Resort in Gomoa Fetteh give visitors the opportunity to enjoy a variety of water sports activities or to relax under a coconut or palm tree. In Accra, there is a wide variety of restaurants, nightclubs, museums and theatres where Ghana’s culture and cuisine can be experienced. Deep sea fishing expeditions are also organised in which tourists may take a part in.

Theatre Most theatrical performances take place in light of traditional, religious and political events and involve intricate drumming and dancing. While these plays are organized by trained and wellpracticed performers, there is a strong emphasis on audience participation. Modern developments have encouraged the formation of professional troupes who perform at public festivities, international festivals, and in theatres as well as hotel lounges. The University of Ghana is home to the Ghana Dance Ensemble, a national institution with an international reputation. More popular modern

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Watersports adventures in the Greater Accra Region

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The tranquil white sands of Busua Beach

Accra WHERE TO STAY Ghana’s tourism industry offers a wide variety of accommodation options, from high class resorts and luxury hotels to cosier, more accessible options that allow you to get a feel for Ghana’s lifestyle.

High Class NOVA HOTEL 4th Lane, Kuku Hill Opp. Revenue Towers, Osu, Accra Tel: (+233) 21 775584 Fax: (+233) 24 6941941 www.novahotelsghana.com The Nova Hotel is a one-star luxurious hotel located in Osu, opposite the Internal Revenue (LTU).The Hotel was incorporated on the 28th day of February 2008

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as an enterprise under the Ghana company’s Law Act 1963 with the objective of providing quality hospitality services for travellers, holidaymakers and tourists. They aim to be a hotel of distinction and excellence. They strive to give their clients quality hospitality service which is consistently perceived as clean, comfortable, well-maintained and attractive. Located in the centre of the city at Osu Accra, and staffed by friendly, attentive and efficient people who are well trained in the hospitality industry, we provide the traveller, the holidaymaker and the tourist with economy and quality mid-priced lodging facility that meet their expectations.

THE AFRICAN REGENT HOTEL North Airport Road, Accra, Ghana Tel: (+233) 21 7651802 www.african-regent-hotel.com info@african-regent-hotel.com

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The African Regent has set out to create an atmosphere that is responsive to the culture and heritage of Ghana. A hotel that has a Ghanaian identity. It is a unique combination of African design with an ethnic touch, delightfully exuding Ghana’s rich cultural heritage in a fascinating collection of artifacts, paintings and designs that uniquely depicts the Kente and Adinkra symbols.

are a Ghanaian living abroad and you are coming to your home town for business or holiday and you want a smooth living in Ghana, then you are in the right hands. La Paradise Inn apartments are ideal for short & long stay, providing the comfort and facilities, you all have come to expect in quality hotels. At La Paradise Inn, you will enjoy more space, freedom, home atmosphere & cheaper rates.

Our guests will experience The African Regent’s unique character in a kaleidoscope of strong vibrant colour embracing the African concept and giving guests the warmth of a true Ghanaian experience.

Right in the heart of the vibrant Osu, area of Accra, La Paradise Inn is surrounded by a diverse array of shops and restaurant, cafe’s and clubs offering nostop day and night activities. Yet, when you wish to relax, the comfortable Apart’ Hotel offers a soothing reprieve from the buzz. Each of the apartments features a modern living space which doubles up as a home office, complete with the high speed broadband internet access and satellite TV. Outside the apartments you can enjoy the swimming pool and the tropical garden. With everything from culture to cuisine to commerce right to your doorstep, you’ll never have a dull moment at

Our approach in design and décor has been carefully created to reflect the colour of Africa and to embrace a Ghanaian look in style and design of our fixtures, fittings, furniture and staff uniforms. They are always extremely attentive towards all their guests, regardless of their origins, we will strive to make them feel comfortable and well looked after. Guests will feel very much at home in this hotel, with every comfort and first class service provided by highly trained staff who know the essence of making every guest feel special. Guests are always the first priority and will receive a warm welcome. Their goal is to justify the choice they have made by entrusting their hospitality needs to The African Regent.

LA PARADISE INN Donna Agyepong and Vitto Manna, Founders 4th Street South La Estate, Osu, PO Box OS 520, Accra Tel: (+233) 30 2914563 www.la-paradiseinn.com laparadiseinn@gmail.com La Paradise Inn has been founded by Donna Agyepong (UK-Ghanaian) and Vitto Manna (Italian), keeping in mind, the comfort for people who are coming to Ghana, whether for business or holiday, and have a desire to be immersed in a green and open environment, so they can really enjoy the beauty of Africa. All the guests have the facilities to cook their own food, enjoy the space inside and outside the apartments; The Garden, the Swimming Pool and much more. If you are too busy to prepare your own food, you can try our exquisite home-made recipes served direct to your living room or outside on the patio. If you

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PENTA HOTEL PO Box 7354, Accra North Tel: (+233) 30 2774529 Fax: (+233) 30 2760812 pentahotel@ymail.com Penta Hotel has a long history as one of the hotels established in the late seventies. It has recently undergone a massive renovation and refurbishment. Whether your visit to Ghana is for business or leisure Penta Hotel is ideal for you. It is tucked on the ever bubbling ‘Oxford Street’ in Osu, the very heart of Accra. It is just 4km from Kotoka International Airport and also a mere 5 minutes drive from the golden sands of the Atlantic Ocean. Other landmarks which are close to the Hotel are the Kwame Nkrumah Mausoleum (4km), Labadi Pleasure Beach (3km); the Independence Square (2km), the Ohene-Djan Sports Stadium and the most famous Makola Market. A drive to the commercial and political centres in the city takes 4 minutes. The hotel has 26 luxurious bedrooms tastefully furnished with the state-of-the-art facilities. Each room has a Separate Bath, Air-conditioning, Television (including DSTV), Refrigerator, Internet Wi-Fi facility available. Customers with Laptops can access from their respective rooms. Room rates include breakfast. Our 50 seat Restaurant offers

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a variety of sumptuous Western, Eastern and Middle Eastern dishes and opens from 6am to 12 midnight. The service is unmatched. The outside Bar is well stocked with any drink you can imagine, the connoisseur’s ultimate dream. A Bureau de Change is available for 24 hours. A Travel Agency is located in the hotel building. Another landmark is the Car-hiring service. A back-up Generator is available 24 hours in the event of power loss from the local grid.

GOLDEN TULIP HOTEL Liberation Road, Accra 16033 Tel: (+233) 21 775360 www.goldentulipaccra.com For many years ‘The Tulip’ has been the goldstandard for high-quality accommodation in Accra. The Tulip has an unexpected amount of character and charm for a business hotel. It manages to feel somewhat African, but with a buttoned-down Dutch cleanliness that is welcome, especially to first time travellers in Africa. The downstairs lobby bar and pool-side dining, live music, and gallery of local artists are excellent. The hotel’s business centre provides the most reliable WiFi you’ll find anywhere in town (with Skype-capable bandwidth, no less.) The Chalets are the place to be if you decide to stay in this hotel, but they are generally held for those booking twoweeks or more at a time. If you like to play tennis, the courts are great so be sure to pack your racket.

LA PALM ROYAL BEACH HOTEL 1 La Bypass, Accra Tel: (+233) 302 771700 This hotel reflects the post-modern pan-African style of the wife of Ghana’s decade-long military ruler, Air Force Lt. Jerry Rawlings, who gets credit for the hotel’s best feature: it’s authentic, Ghanaianinspired design theme. It has panache as well as a great location on the beach. This hotel has 5 restaurants to choose from, one of the best being the hotel’s flagship outdoor African Village with its great architecture and fine cuisine. Sunday brunch is particularly good, but dinner or drinks any night work equally well. Avoid the main dining room, room service, or Bali Hai, Equator, or other ‘international’ offerings.

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Condo Rentals THE PAINTSIWA WANGARA CONDOMINIUM APARTMENTS 5th Lane Avenue of Osu (Main Commercial Street), PO Box 6565, North Accra Tel: (+233) 21 782171 / 773377 Fax: (+233) 21514147 www.paintsiwaapartments.com info@paintsiwaapartments.com Paintsiwa Condominium Apartments is the most ideal and convenient place for the comfort of short and long stay visitor to the city of Accra. It is the conglomeration of Two Bedroom, Bed/Living and Studio types. The apartments are very spacious and and ideal for short and long term rentals. We are located on 5th Lane Avenue, five minutes walk off the Main Commercial Street of Osu “Oxford Street”, where every visitor to the city should enjoy. It is also a five minutes drive to the Civic Centre and Business District of the city and the beach. A Chinese Restaurant is located next door to the apartment and there are more than twenty different kinds of restaurants, offering different cuisine and Entertainment Centres within 100 metre radius of the Condominium. Friendly English-speaking professionals are on duty 7 days a week. Front desk services include reservations, check-in/out, bill settlement, concierge, and general information. Mail/courier services and laundry/dry cleaning pick-up are also available for a fee. All rooms are cleaned thoroughly before a new customer checks in, and also provide cleaning and linen changing (sheets, pillowcases and towels) services once a week during your stay. Public areas in the building are also kept immaculately clean. Additional cleaning services, available for a fee, include laundry/dry cleaning and more frequent room cleaning.

Budget Hotels APLAKU GUESTHOUSE Aplaku/Kokrobite, Accra Tel: (+233) 273950890 www.ghana-guesthouse.com

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Students, voluntaries, politicians, business people and tourists, with respect for Ghana, nature and the culture, will enjoy this guesthouse. The Aplaku guesthouse has a nice view over the Atlantic Ocean. The beach is at walking distance. For guests who want some acclimatization before they are going to travel through Ghana. The guesthouse is very convenient for longer stay, for groups as well as for independent travellers. The Airport or other transport is available with reliable drivers and cars in a good condition. Guests are offered all the necessary help and relevant information to ensure for a pleasant stay. The average price of a nights stay is 30 to 40 euros.

ELMEIZ PLACE GUEST HOUSE No.12 Awula Meeya Street, Dansoman, Accra Tel: (+233) 21-305005 Elmeiz Place Guest House is more than a bed & breakfast, it is a charming guest house located in Accra, Ghana. Operating almost entirely on solar power. Elmeiz Place is situated in the comfortable neighbourhood of Dansoman in Accra, only a 20 minute drive from Kotoka International Airport. Elmeiz’s Place is ideal for business travellers, honeymooners or regular tourists looking for cosy and modern accommodation in Accra Ghana. USD$45.

serving Mojitos and other cocktails from all over the world. It also has wireless internet access. Located in Labone near the Metro TV building, Maquis Tante Marie is a restaurant serving a variety of African cuisines in a pleasant garden setting. Frankie’s on Oxford Street in Osu is a popular oasis for tourists in Accra. Offering accommodation, a restaurant, salad bar, ice cream and a bakery/ pastry shop. Other popular eateries in Osu include Livingstone Safari Restaurant, Haveli (Indian Cuisine), Papaye (Fast Food), Asanka Locals (Traditional Ghanaian Cuisine) and Noble House Restaurant (Indian and Chinese Cuisine). THE AFRICAN REGENT HOTEL North Airport Rd, Accra, Ghana Tel: (+233) 21 7651802 www.african-regent-hotel.com info@african-regent-hotel.com

Eat out at one of Osu’s many trendy restaurants. Osu, a suburb of Accra, is known for its nightlife and a wide variety of eateries, hotels, and several options for entertainment.

Many recommend this hotel for its fine cuisine since the appointment of their new and experienced Executive Head Chef. After many years in the hotel industry he is now bringing his culinary expertise to the Regent. He likes to experiment with menus and he offers much more than the standard African menu offered by many other rivals. He believes in exciting African fusion cuisine bringing together elements from Indian, Thai, Japanese, French and Italian food. The selection is fantastic and the high skills of the head chef and his assistants can be seen in every dish on the menu. The kitchen is open for guests to see the experts at work around the Asian tandoori oven, the rotisserie and the traditional Shwarma. This is no normal buffet but rather an extraordinary, unusual and exciting dining experience.

A concept lifestyle eatery, Café Dez Amis is situated close to Osu, next door to Jubilee House and the French Embassy. Offering gourmet coffees, sandwiches and salads, as well as cold fresh juices, and ice cream, it has become a hotspot in town, open 7am - 10pm. Breakfast and fresh bakery are available all day. There is also an outside cocktail bar,

For a Drink or Two This street is the most popular street in Ghana and has derived its name from the famous Oxford Street in London because of its busy nightlife. It is also known as the “West End”. Joining Osu’s Oxford Street from the Ring Road is a famous roundabout dedicated to the memory of Dr J. B. Danquah.

Where to Eat

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Oxford Street is a popular hang-out especially on the weekends and holidays. It is a hot spot for lovers and a great place to entertain the whole family on special occasions. State of the art night clubs are very well patronized by nocturnal people. The Ryan’s Irish Pub and Makumba night clubs are highly recommended. Their patronage is partly due to the free ladies night on weekends. There are jazz clubs and the British-style of pubs like the Ryan’s Irish Pub which aren’t hard to find. Casinos, gaming centers and Internet cafes are spread all out on the street.

What to See and Do The National Museum of Accra The National Museum of Accra is the oldest and the largest museum in Ghana. Accra’s National Museum was inaugurated by the Duchess of Kent on the 5th of March 1957 to commemorate Ghana’s independence from British rule. This museum has several fascinating exhibits that chronicle the country’s rich history and culture as they include discoveries that date back to the pre-historic times as well as colonial antiquities. The museum also has a display of contemporary African art in its fine arts gallery. Additionally, the museum also has displays of several local crafts that have been sourced from all over Africa. Independence Square This square which is dominated by the Independence Arch which is inscribed with the words “Freedom and Justice, AD 1957” is also known as Black Star Square. This arch was built to commemorate Ghana’s struggle for independence. The memorial also includes a memorial to the Unknown Soldier and another memorial which commemorates some World War II veterans who were killed during Ghana’s freedom struggle. The Square today is the site for many national celebrations. The W.E.B. Du Bois Memorial Centre for Pan-African Culture The W.E.B. Du Bois Memorial Centre for PanAfrican Culture is a historical monument that contains the final resting place of Dr. W.E.B. Du Bois, who was an influential American born civil rights leader and Pan-African thinker and activist. Dr. W.E.B. Du Bois spent his last few years in

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Accra and became a Ghanaian citizen. This memorial today functions as a research institution for Pan-African history and culture as it promotes the social, political, cultural, and intellectual legacy of Dr. W.E.B. Du Bois.

BEACHES

Accra is especially well known for its many beautiful beaches like Labadi and Kokrobite which are extremely popular with tourists. In fact, Labadi Beach is home to some of Accra’s most expensive hotels like the La Palm and Labadi Beach. These beaches are hubs of activity on the weekends when they are populated by drummers, acrobats and all sorts of performers and souvenir vendors who concentrate on entertaining the many tourists who choose to stay at these beach side hotels.

ART GALLERIES Artists Alliance Gallery La Beach Road (1km west of La Beach Hotel) Artist-run gallery over 3 floors with sculptures, fabrics and paintings. Covers everything from cheap wooden artefacts for a few dollars to expensive paintings by top artists in Ghana. Big plus is being able to look, browse in a relaxed gallery without being hassled to buy. USD$10USD$10k.

PARKS Kwame Nkrumah Memorial Park The park was created to honour Kwame Nkrumah, who led Ghana to its independence from Great Britain and became the nation’s first president. Voted as Africa’s “Man of the Millennium”, he is a highly important figure of the 20th century. In the park you can see a monument dedicated to him, as well as his mausoleum, where he is buried. Boabeng-Fiema Monkey Sanctuary This small sanctuary of 4.4km2 was established in 1974 to help the local communities protect the resident black and white Colobus and Mona monkeys which are important to their cultural belief. The monkeys are habituated to humans and large groups are seen easily in the forest and within Boabeng village itself. The butterfly fauna is unusually rich.

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Bui National Park This 1,821km2 park, gazetted in 1971, covers the catchment of the Black Volta River. The vegetation is typical savannah woodland with gallery forest along river courses. It is particularly notable for the resident hippo population in the Black Volta River though a number of primates and antelope species are present along with a great variety of birds.

SHOPPING Makola Market, in Accra’s busy downtown, includes a large boulevard and several alleys full of fabric shops with goods such as wax-print pages, as well as embroidered and beaded cotton and tulle for special occasions. Look for wax prints from Ghana Traditional Prints (GTP) and the Akosombo Textile Company, which issue a wide range of new designs annually. Another source for such fabric is Woodin, an upscale fabric store with outlets in Osu and at the A&C Shopping Mall in East Legon, selling a variety of shiny patterned cottons, batiks, and ready-made clothes. Kaneshie Market is both a transit centre and a great place to shop, offering a very wide variety of mostly traditional goods and items. It is a great place to buy for food and household items; beads, hair salons, shoes, handbags, and beauty products, and fabric shops. For curious shopping, the National Cultural Centre, known popularly as the “Arts Centre” near the Independence Square is an overwhelming but well-stocked option. Smaller curio markets can be found around the city. Wild Gecko (near the TettehQuarshie Interchange, off the Kwame Nkrumah Motorway Extension sells a variety of crafts, upscale curios, furniture, and batik clothing. Be sure to check out the extensive collection of Christmas ornaments, including Adinkra symbols carved into dainty souvenirs. Down the dirt road from Wild Gecko are further several smaller but well-stocked pottery and craft stores. Boutiques can be found on almost every corner of Oxford Street. Monte-Carlo is a high class boutique which carries exotic collection from the famous designers in the world. The local kiosks find their way in every little space on the street. These shops usually sell local artifacts and paraphernalia to exhibit the rich culture of Ghana. There are also a multitude of electronic stores like the Sony Centre, Somovision Ghana, just to name a few. For your passport photos, Flash Photos, right at the Danquah roundabout is your ideal choice and Photo Club is the place for all your advanced photo needs. The Osu-Oxford Street attracts people from all spheres

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of life. From rich to the poor, citizen to foreigner, young and old. Towards the end of every year, there is a big carnival open to all. For a more modern shopping experience, options include: The Accra Mall, off the Liberation Road The A&C Shopping Mall, East Legon Palace Shopping Mall, situated on the Spintex Road Shaaba Shopping Mall, off the Motorway Extension

SPORTS AND LEISURE Accra Fitness Center Ringway Estates, 6th Ringway opposite Country Kitchen Restaurant Tel: (+233) 21 226385 This is a well-equipped gym that offers a variety of daily aerobics classes in addition to personal weight training. Accra Lawn and Tennis Club End of Ethiopia Road off Gamel Abdul Nasser Road, near the Accra Conference Center. This club offers nine, clay, tennis courts (two with flood lights) and hosts frequent tournaments; other facilities include locker rooms, bar, restaurant that offers Ghanaian dishes and an air-conditioned lounge with M-Net Satellite TV reception. Tennis lessons are available. Accra Polo Club Tel: (+233) 21-772775 Liberation Road, behind the Granada Hotel This club offers stables and care of privately owned horses as well as polo, tennis and squash; it is possible to rent horses if arrangements have been made personally with private owners; regular polo matches take place every Wednesday and Saturday. Achimota Golf Club Tel: (+233) 21-400220 / 400221 Legon Road in the Achimota forest This club offers adequate 18-hole golf course, which holds frequent tournaments and offers golf lessons. Accra-Tema Yacht Club Tel: (+233) 21-228219 60 miles from Accra off the Aflao Road, near the Paradise Hotel, Ada Foah

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This sailing club was revived in 1994; you must have your own boat; storage facilities are available; four regattas are held annually and are open to the public; instruction and racing are held the first Sunday of each month. There are chalets for the member to use for overnight stays. American Club Tel: (+233) 21-777824 Giffard Road about 100 meters past 37 Circle (Akuafo Circle) on the right This private club’s membership is open to American citizens and resident diplomats; it offers a swimming pool, a flood-lit clay tennis court, restaurant and American programming TV service (AFRTS). GWAK’S Institute Tel: (+233) 221-6265 Manna Korean Restaurant building, Community 12, Tema This club offers Tae Kwon Do lessons as well as aerobic classes and body building instruction. Pippa’s Health Center Tel: (+233) 21-224488 Fifth Ringway Link, Ringway Estates This center offer the latest professional fitness equipment; it isn’t cheap, but if you are looking for the best equipped gym with all the extras, this is it. Regular membership includes the main gym, aerobic classes and one complementary massage and manicure; the Gold Card membership includes the gold gym, gold room lounge, main gym, aerobic classes, satellite TV with over 17 channels, sauna, spa, ice bath, health bar and five complimentary massages and manicures; Pippa’s also offers a variety of classes for adults and children. Tesano Sports Club Tel: (+233) 21-222124 Tesano off Nsawam Road This affordable club’s facilities include two floodlit, hard-surface tennis courts, squash courts, one badminton court, an air-conditioned snooker room with two tables, an air-conditioned lounge with TV, bar, restaurant and 25-meter pool with thirteen foot deep end in Accra. Lesson in squash, badminton, tennis and swimming are available. Unilever Sports Club 7th Avenue off Castle Road

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This club offers an annual membership and hour rental of its two flood-lit clay tennis courts and Accra’s only glass-back, air-conditioned squash court, and one regular squash court.

CHURCHES International Central Gospel Church 69 Ring Road West, PO Box AN 7933 (North), Accra, Ghana Tel: (+233) 30 2688000 - 4 icgc@centralgospel.com www.centralgospel.com The International Central Gospel Church is a socially conscious Christian church with upholds the philosophy of Human dignity and Excellence. It engages in promoting and staging events whose impact have reached to the depths of the Ghanaian society and brought Christ to the doorsteps of the people. The Methodist Church Ghana Wesley House E 252/2, Liberia Road, PO Box 403, Accra Tel: (+233) 21-670355 mcghqs@ucomgh.com www.methodistchurch-gh.org The Presbyterian Church of Ghana Thorpe Road, PO Box GP 1800, Central Accra Tel: (233) 30 2662511 info@pcgonline.org www.pcgonline.org

SYNAGOGUES The House of Israel Community Sefwi Wiawso The House of Israel Community claims to be on the Ten Lost Tribes of Israel. Modern mainstream Judaism has been practiced in Ghana since a group of people from the Sefwi tribe has established ties to worldwide Jewry in the late 20th century and have thus received educational materials about modern Judaism. The tribe has traditionally avoided the consumption of pork, or pig-like animals, practiced circumcisions of the eight day of a child’s birth, and observed a day of rest on Saturdays, which also happens to coincide with the Jewish Shabbat, among others.

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MOSQUE The Larabanga Mosque is a historic mosque of the “Sudanese” architectural mosque type in the village of Larabanga, Ghana. Though uncertainty exists regarding its age, it is believed to be one of the holiest Islamic sites in Ghana. In 2002, it was placed on the 2002 World Monuments Watch by the World Monuments Fund, because of damage sustained after an inappropriate restoration in the 1970s. According to the Fund, one of the minarets had also collapsed in 2000 during a storm. The financial services company American Express provided USD$50,000 for the mosque to be restored through the World Monuments Fund. The funds were devoted to reassessing the state of conversation of the site, and to funding a team of local artisans and labourers to restore the monument with special emphasis on reviving the knowledge of mud-plaster maintenance.

The Upper East Region, where Bolgatanga lies, is part of what used to be known as the Upper Region. Between 1902 and 1960 the Northern Territory was a British protectorate, it was separated into the Northern and Upper Region on July 1, 1960. The Upper Region was later apportioned into Upper East and Upper West Region in 1983 during the PNDC rule.

Where to Stay Hostels/Guest Houses towards the beach are good quality and some have lovely roof bars also.

Resorts Brenu Beach Resort, Brenu Akyinim Take a tro-tro (minibus) from GOIL/Pedu Junction along the Accra-Takoradi Road towards Takoradi. Get off at Ayensudo junction, and then hire a taxi from the main road to Brenu Beach. A well-tended private beach, better for swimming than the beaches in Cape Coast, is only a 1520 minute Tro-Tro (minibus) ride away. There is a restaurant/bar on premises which offers a great variety of Ghanian and International dishes for 5-10 Gh¢. Camping/rooms are available. 1 Gh¢ entry fee for the day.

Larabanga Mosque

BOLGATANGA Bolgatanga is the largest city in the north and the gateway to Burkina Faso. Colloquially known as Bolga, is the capital of both the Bolgatanga Municipal District and the Upper East Region of Ghana, and has a population of about 50,000. Historically Bolgatanga was situated at the terminus of the ancient Trans-Saharan trade route. The eastern route traveled through Northern Nigeria, converging with the Sahelian route from Mali via Burkina Faso, near Bolgatanga. Along the route, handicrafts; especially straw baskets, hats and fans, as well as leather goods, metal jewellery and indigenous attires called “Fugu” were exchanged for kola nuts and salt.

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What to See and Do The Sandema Festival The festival is a war dance festival celebrated by the Builsas, in December. It marks the end of the slave trade in northern Ghana, and the capture of the notorious slave marauders, Samori and Babatu. The Samapiid Festival This festival is a thanks-giving festival celebrated by the Kusasis people in December. The Golob festival is celebrated by the Talensis of Tongo in March to mark the beginning of the sowing season. Sumbrungu Painted Houses One of the most distinctive features in the Upper East Region are the traditional villages that dot the landscape. These villages generally feature round thatched roof huts, painted with decorative motifs in striking colors. A beautiful example of traditional

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paintings is found in the village of Sumbrungu, eight kilometers from Bolgatanga on the way going to Paga. Naa Gbewaa shrine at Pusiga The tomb of Naa Bbewaa, the founder of the MoleDagbon tribes, is located in the town of Pusiga. Legend states that Naa Gbewaa never died but simply vanished during a heated battle. The shrine was thought to have been built in the l4th century in commemoration of Naa Gbewaa, and is today as a place of spiritual reverence. Crocodile Ponds Forty kilometers (about 25 miles) from Bolgatanga, along the Burkina Faso border, in Paga, home to the sacred crocodile ponds. These are purportedly the “friendliest” crocodiles in Ghana, and it is said that the souls of the royal family reside in them. The crocodiles roam freely throughout the ponds and it is unthinkable that anyone should harm them. Cape Coast This coastal region between the cities of Keta and Beyin (Ghana) is dotted with UNESCO World Heritage Site recognised forts and castles that served as trading points in a unique setting, all of which were constructed between the 15th and 18th centuries. A guided tour of the Cape Coast Castle, one of the several slave forts along Ghana’s coast, takes 45 minutes and costs USD$4 for students. Elmina Castle It is one of West Africa’s oldest slave castles. Besides a guided tour with knowledgeable, friendly tour guides who are open to questions, there is an onsite restaurant, bookstore, gift shop, and a small museum inside the renovated Portuguese church within the castle. There is an admission fee as well as a minimal fee for taking pictures. Warning: The experience in the castle can be emotional at times (particularly the “room of no return”, the cell for rebellious slaves, the female slave dungeons, which still smell like bodily fluids). Crocodile pond

Portuguese Church in the court yard of the Elmina Slave Castle has been converted into small museum devoted to the history of the slave trade in West Africa. It is a nice place to spend some time before beginning your tour of the castle.

KUMASI Kumasi is considered the home of the Ashanti King, the current one being Otumfuo Osei Tutu II. Kumasi is widely regarded as the cultural cradle of Ghana as the vibrancy of Ghana’s culture is more evident here than any part of the country. The Asantehene still sits in state as Ashanti’s from all walks of life pay homage. He even presides over traditional courts and some residents use this instead of the judicial system.

Where to Stay Lake Bosomtwe Paradise Resort Abono near Lake Bosomtwe Lake Bosomtwe, Kumasi Tel: (+233) 32 2095803 / (+233) 20 3338805 info@lakebosomtweparadiseresort.com Lake Bosomtwe Paradise Resort is a modern nature retreat designed to give visitors all the luxury amenities they expect from a modern hotel, but set in a beautiful natural setting.

What to See and Do Asantehene’s Palace A visit to this former king’s residence is a most worthwhile activity. Prempeh II Jubilee Museum Tel: (+233) 5122822 9 AM to 6 PM Features artefacts and personal belongings of former Ashante kings. Manhyia Palace Museum 9 AM to 5 PM Built in 1925 by the British as the residence of King Asantehene Prempeh I, this museum is also a palace. Walking through the museum, you will learn about the function of each room when it was used

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by the kings, as well as seeing artwork and artefacts from the Asante kings. Ghana Scuba Club Tel: (+233) 776246 / (+233) 027-555186 The Ghana Scuba Club welcomes seasoned divers as well as novices who just want to get their feet wet; the group meets the first three Tuesdays of each month at Shangri-La Hotel and alternate evenings of diving, lecturing and socializing. If you don’t have your own equipment, the group collectively hires equipment from Tema for use on diving nights; notices are most often posted on the board at the Shangri-La Hotel reception area. Location Lake Bosomtwe Paradise Resort, is located on the shores of beautiful Lake Bosomtwe, 35km south of Kumasi in the Ashanti region of Ghana, in the town of Abono. Lake Bosomtwe is the largest natural lake in Ghana. The 20-room Ghana lakeside resort, built in 2000, overlooking the lake, is encircled by rugged mountains thickly vegetated, reaching an altitude of more than 600 metres.

DAY TRIPS Kakum National Park rainforest with a canopy walk to view rare monkeys as well as forest elephants and antelope. Mole National Park Savannah with buffalos, monkeys, antelopes, lions and elephants. Both driving and walking safaris are popular, you can even camp for the night. Nzulezo A village of buildings built on stilts. Paga A town in the north home to “sacred crocodiles” which are tame and live in several pools. Shai Hills Reserve A great daytrip near Accra home to baboons, parrots, and antelope; you can tour the reserve on horseback. Wli Falls In the lush Agumatsa Wildlife Sanctuary near the Togo border.

Mole Park elephant

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Entertainment Travel Agents & Tour Operators Blastours PO Box MS 245, Mile Seven, Accra, Ghana Tel: (+233) 20 8232463 Blastours is a Ghanaian-owned tour management company to meet the needs of business and leisure travellers to Ghana. The company provides hotel accommodation, free tourist visa support, organizes entertainment, transport, indoor and outdoor leisure activity, and arranges specially-tailored services for guests coming to Ghana. ABA Tours Tel: (+1) 617-277-0482 Fax: (+1) 801-912-3830 www.abatours.com

Ghana Tours Tel: (+1) 800-683-7731 / (+1) 215-471-8555 Fax: (+1) 215-471-8898 info@GhanaTours.us After breakfast, depart from your hotel for a sightseeing tour of Accra, the nation’s capital. Learn the culture and history of the indigenous people of the capital. Land Tours Ghana PO Box 6094, 199 Soula Loop, North Labone, Accra travelafrica@landtours.com www.landtours.com Come, experience cultural drumming and dancing that will touch your very soul in its intensity. Come, relax, enjoy and have the experience of a life time.

Stay at our guest house next to the ocean and interact with our Ghanaian neighbours. Aba Tours does not show you Ghana from the window of a tour bus. With us, you meet the people on a personal level and participate in their daily life. You are invited to festivals, into people’s homes and experience firsthand the friendliness of Ghanaian people.

Ghana Adventures Village Exchange Ghana PO Box 756 Ho, Volta Tel: (+233) 09125164 vpt@ghanadventure.com

USEFUL SOURCES www.ghanaweb.com www.ghanaembelgrade.com travel.mapsofworld.com/ghana/culture-of-ghana.html

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