Cotton and Textile:
Production of improved varieties of cotton for export and local consumption, establishment of ginneries, farm to plant transport services, storage and handling facilities, production of chemicals including natural dyes, industrial starch, caustic soda, hydrochlorides and other finishing chemicals as well as production of textiles. Cotton production has been selected as one of the special Presidential Initiatives.
Establishment of manufacturing industries to add value to local agricultural and fishery products, especially cassava into industrial starch etc, cocoa beans into cocoa products, fruits into fruit juices, purees etc, rice into fragrant rice, flour etc. The scope for export of these products to regional and international markets is quite significant. Production of cassava and industrial starch is under the special Presidential Initiatives.
Ethnic Beauty Products:
Production of universal and ethnic cosmetics such as hair and skin care products, using local raw materials which are in abundance e.g. soya bean oil, shea butter, sunflower seed and sunflower oil, coconut oil, palm kernel or babasu oil etc.
An industry in its nascent stages, Floriculture offers a lot of opportunities as Ghana’s climate, topography and other natural characteristics make it a conducive location for the cultivation of a myriad of exotic flowers. Species like heliconia, caribea, celosia, curcuma, gladioli, hibiscus, roses, ornamental palms and ferns perform well under natural condition. Cold storage facilities, green house construction, irrigation equipment and construction of small dams, as well as packaging materials, all provide opportunities. There are five cargo airlines (Swiss, Lufthansa, Ghana Airways, KLM and Race Cargo) operating flights (average of 14 daily) to Europe with very competitive costs (costs ($0.74 -$1.25 1kg)). Ghana also has comparative advantage in its proximity to the main EU markets, with flights to London and Amsterdam averaging only six hours.
Fine and Custom Jewellery:
With a tradition dating back to the 5th century B. C, Ghana has always had a vibrant goldsmithing and jewel-making industry. As a major producer of gold and diamonds, vast opportunities exist in the production of fine jewellery, custom jewellery and accessories and services.
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 subregional services, as well as, upgrading of existing trunk roads under BOT, BOO, BAT, BLT etc. systems.
Ghana’s 550km of coastline and 8,520 square km of water surface area provide an abundance of marine life (particularly tuna), aquaculture and inland fish species. Opportunities exist in harvesting and processing of tuna and various marine and aquaculture species as well as establishment of aquaculture (fish farms).
Construction of residential houses (low cost housing, high rise quality apartments, retirement villages); Industrial houses (light industrial parks, warehousing facilities) and Commercial houses (regional and local shopping centers/malls, office accommodation, storage etc.) as well as provision of construction equipment and building materials.
One of the fastest growing sectors in the economy, tourism holds a lot of attractions for investors. Opportunities include provision of hotel accommodation in the 3 – 5 star range in Accra and the regional capitals; conversion of the numerous forts and castles on the Atlantic Coast into inns; Beach, lake and river resort development (including water sport and game fishing); development of lodges and national parks; development of modern convention/event facilities for large social gatherings in main cities; provision of complete adventure/ecotour packages for domestic and subregional markets; and rest stops on key excursion routes.
Provision of structural ceramics (including burnt bricks, tiles and murals), traditional ceramics (flower vases, pots, candle holders and lamps), crockery (plates, tea and coffee pots, cups, mugs), electrical products (insulators, plugs and capacitors), sanitary items (sinks, baths and wash basins) and clinical items (dental fixtures, fillers and bone joints).
Establishment of centres of excellence for production of electrical and electronic products; manufacture and assembly of computer equipment; electronic commerce, Information network operation, medical transcription, legal databases, logistics management, insurance claim processing, back office operations etc..
Opportunities in this sector have been enhanced with Ghana’s receipt of its visa protocol under the African Growth and Opportunities Act (AGOA). Production and export of large-scale apparel and clothing especially Afro-centric clothing for niche markets in the United States and Europe look particularly attractive. Other areas are export of hand-woven indigenous textiles and manufacturing of upscale designer wear for mainstream overseas markets. Ghana’s ‘Kente’ cloth is globally recognized and admired. This sector is under the Presidential Special Initiative.
While there exists a strong demand for steel and related products in Ghana and the subregion, there are no major producers in West Africa. This is in spite of widespread availability of natural resources and trained personnel. For instance, Opon-Mansi, in Ghana is estimated to have an ore reserve of 174.4 million long tons. Industrial steel, agricultural implements like spades, shovel, forks, mattocks, pricks, hoes, shears scythes etc. are in great demand as well as construction/industrial tools like screwdrivers, hammers, anvils, handsaws, blades etc.