Although energized by recent events and speckled with anticipated prosperity; the current business climate is still undergoing some stagnation due to capital and economic constraints. New and established businesses with no capital are finding it difficult sourcing funding due to constrained lending, reduction in trade, lack of demand for commodities and reduction in remittances. Despite this shadow of current global trends, Ghana commands an economic twist due to its ever growing business and investment opportunities, untapped resources , stable governance and strategic location; all of which are promised to overcome the under achievements of the economy.
Auxiliary services to the oil and gas industry are evident and within grasp; Construction is still and will continue to be a promising sub-sector; Goods and Services to the Mining Sector represent a significant opportunity; ICT is simply wide open for opportunity and Agriculture, although still underrated and not fully exploited; arguably commands the most potential returns to entrepreneurs and to the economy as a whole.
Insurance companies are becoming more visible and it seems like finally the market is embracing the business culture of the insurance industry. Paying attention to economic cycles, the anticipated growth of the economy is keen on accommodating a boom in the Financial Services Industry. With approximately 75% of money circulating outside banking institutions there is much to re-consider when analyzing market and economic indicators and the untapped potential within the Financial Services industry. Despite risk factors associated with the SME industry, there is great investment opportunity with proper risk mitigation and management, taking into consideration; approximately 85% of economic operators in Ghana are SME’s. With opportunities evoking from all sectors, strategic investment and business setup is encouraged, nevertheless the utilization of Business Service Providers must be considered before engaging potential opportunities to save time and resources.
In our next edition The Bridge Report will focus on key opportunities in Agri-business with special interest in the Grain Industry in Ghana, its opportunities and also current land issues and the extent to which they affect businesses and investments in Ghana.