Ghana's wealth of resources, democratic political system and dynamic economy, makes it undoubtedly one of Africa's leading lights. Gaining the world's confidence with a peaceful political transition and a grounded and firm commitment to democracy has helped in expediting Ghana's growth in foreign direct investment (FDI) in recent years.
Ghana has attracted the attention of well-known international businesses, investing in all sectors of our economy. All these investors have come to Ghana because they know we have a wonderful conducive social, political and economic environment in which they can invest, grow and be successful.
Building on significant natural resources, our dear nation is committed to improving its physical infrastructure. Moreover, Ghana has recently embarked on an ambitious but achievable reform programme to improve the investment climate for both local and international investors. These efforts have paid off tremendously with Ghana being recognised by the World Bank Doing Business Report 2014 as the "Best Place for Doing Business in the ECOWAS Region". Also with the difficult times during last year where most countries did not show good growth levels due to the global economic downturn, Ghana had an economic growth rate provisional of 7.4% .
As happy as we are to receive such recognition, we are even happier to see increased investments and re-investments in Ghana as a result of these ongoing reforms.
Ghana has a solid tradition of investments in agriculture and agro-processing. The financial services and telecommunications sectors are fast gaining ground, providing dynamic and innovative services to the most diverse customers in the world. Further opportunities exist in manufacturing, ICT, and Tourism. Mineral deposits including gold and diamond abound, and with the discovery of oil, Ghana's famous black star has never shone brighter.
The Ghana Investment Promotion Centre wish to welcome you all to our beautiful country. We trust you will find our reputation for unparalleled hospitality well-deserved, and our ability to triumph in challenging circumstances as steadfast as ever. We re-affirm our commitment to moving our continent forward and look forward to very useful engagements with you.
Industrial plant, machinery or equipment and parts thereof are exempted from customs import duty under the HS Codes chapter 82, 84, 85 and 98. An enterprise whose plant, machinery or equipment and parts are not zero rated under the Customs, Excise and Preventive Service Management Act, 1993 may submit an application for exemption from import duties and related charges on the plant, machinery or equipment or parts of the plant, machinery or equipment to the Centre.
In Ghana, electricity accounts for about 9% of the total energy consumption. Energy consumption of Ghana is estimated at 6.6million TOE. Household electricity consumption is primarily for lighting and in some cases for cooking.
Exports of electricity in 2010 amounted to US $119.56 million. The volume of electricity in million of kilowatt-hours exported in 2010 was 1,002.51.In 2011 and 2012 the value of electricity exported amounted to US$66,105,797.55 and 50,865,042.14 respectively. ( See Table 1).
Ghana: Value, Volume and Unit Price of Electricity Exports in 2010, 2011 and 2012. (In millions of US dollars, unless otherwise specified)
|Volume (millions of kilowatt-hours)||1,002.51||691.84||611.54|
|Unit value (US' 000/kilowatt-hour)||0.12||0.0956||2012|
Sectoral Electricity Consumption in GWh 2005 - 2010
IThe electricity sector involves the generation, transmission and distribution of electrical energy for industrial, commercial and domestic use in Ghana. In Ghana electricity is run by two utility companies; the Volta River Authority (VRA), Electricity Company of Ghana (ECG) and Ghana Grid Company (GRIDCO).
The utility sector in Ghana has been subjected to structural reforms at various periods. The different reforms took the form of restructuring, commercialization, competition and privatization.