Farrelly and Mitchell

Insight

Ghana can help feed Africa

Ghana has it all when you consider the resources needed for agriculture and the economics of production. It is also hard to ignore government incentives for large-scale agribusiness and a readily available growing domestic market to sell finished products. This leaves Ghana well placed not just to be self-sufficient in food, but also contribute to the regions and continent’s food supply.

Ghana Overview

Ghana, formerly the Gold Coast, is located in the sub-region of West Africa of the African continent. It has a population of over 30 million, spanning a variety of ethnic, linguistic and religious groups. The median age is around 20.67 years, and about 60% of the population is between 15 to 64 years of age, according to current population estimates.

Why Invest in Ghanaian Agribusiness?

“Despite lower oil prices, all of the important economic organisations such as IMF and World Bank maintain a bright outlook for Africa and Ghana.”

The critical fundamentals in Ghana that remain strong and keep its development from derailing include –

Availability of Resources:

Abundant agricultural land and water
Large labour force
Funding available for developing the country

Economics of Resources:

Superior climate for multiple crops per year
Property costs are relatively low
Proximity to local and world markets

Demand for Sustainable Food:

Ghana’s population to double by 2050
Ghana imports a significant amount of food
Food demands outpacing population growth
Local and worldwide growing demand of food

Government Stability and Support:

One of the fastest growing economies in Africa
Ghana’s currency closely tied to US dollar
Free elections for over two decades
Ten-year tax holiday for Free Zones Enterprise
Development
Government and Chieftain support

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Author

Stephen Awuah

Regional Director (SSA)

Stephen is a Regional Director (SSA) with Farrelly & Mitchell and leads the firm’s Ghana (SS Africa) office, located in Accra. He is a seasoned food and agribusiness professional having consulted across a wide range of agribusiness and food processing assignments in Ghana and West Africa.