Monthly Archives: September 2012

The things you read about doing business in Ghana…

There are all those informative documents, reports, studies about business in Ghana in general or certain industries specifically. Some come from Ghana sources, but most have been published by international institutions like the Worldbank, the UN, Governments and many others. usually they have one thing in common: they paint a picture of Ghana as the best or at least one of the best countries in Africa for foreign investors.

I can only say one sentence about them: mostly untrue statements copied and pasted again and again. Why? Ghana is every bodies African darling in the developed world. Diplomats, employees of government development agencies, NGOs and development banks, all alike: if I have to go to Africa, please let it be Accra!

You look at all the paper shuffled, you find: some EU countries are more corrupt than Ghana, Ghana is imminent to support itself not requiring international development funds anymore, Ghana has a constant growth rate around 10% and other nonsense.

This blog has been created to come out with the truth about all those statements. It will deliver answers, why foreign investors are leaving the country empty handed every month after they have lost a fortune. And why totally corrupt institutions make any business impossible if corporate governance follows simple OECD definitions on corruption. Quite a serious issue for a foreigner in fact who might see himself in a courtroom at home after returning from this white washed African country.

Why is no major international corporation from the Western world active directly in Ghana, but only through independent local representatives? You find the reasons above. Africa business falls to BRICS countries more and more because the economic systems are so much alike, not because Western corporations are too lazy to go to Africa. They have all been there an left!