Ghana remains one of the countries in West Africa people think of when it comes to investment
The NPP government recently made a dramatic change by reducing tariffs at the ports even though the harm has already been done, there is hope to convince discouraged investors to return.
Investments in Ghana drastically reduced after the collapse of some banking institutions in Ghana. It was in that same period the economy also became worse with prices of commodities rising sharply.
Discouraged Ghanaian businessmen and others living in the Diaspora, ceased to invest and import, export commodities into the country due to high tariffs and corruption at the Ghana Harbour and Ports Authority.
It’s shocking that even though the government is aware that investments have decreased, it took them a very long time to respond and change the conditions preventing investments in Ghana.
Ghana remains one of the countries in West Africa people think of when it comes to investment. Apart from being a peaceful country, Ghana has valuable resources, including gold, diamond, timber, and agricultural products that continue to create flexible local and international markets.
The current economy in Ghana doesn’t look good, due to the financial crisis, which has affected the entire country, leading to unpaid salaries and high prices of commodities.
Even though Ghana’s natural resources have played a significant role as the engine of the modern economy, of which the entire business stands, the severe economic crisis has crushed those opportunities.
However, there is still hope that the NPP government can bounce back with good strategic plans to lure and encourage those that have already lost interest in investments to gain ample confidence to return.