SPECIAL ADVERTISING SECTION GHANA Africa's Rising Star English-speaking country that is richly Ghana’s wealth of natural resources has made it endowed with natural resources, Ghana a major player on the export market. It is currently boasts the largest economy in West Af- the world’s 10th largest gold producer and has huge rica, with almost twice the per capita out- quantities of bauxite, diamonds and manganese. put of its regional neighbors and a string As well as minerals, it is the world’s second largest of lucrative investment opportunities producer of cocoa, and its waters are full of fi sh. that include oil and gas. John Dramani Mahama Vice President Oil coming on stream of Ghana A beautiful With a stable, multi-party democracy and But most conversations among businesspeople in a government hugely committed to a liberal market, Ghana and beyond in recent months have been about oil. the country of 23.2 million people is widely viewed as Africa’s The discovery of oil in Jubilee Field in 2007 is one of the rising star. President John Evans Atta Mills, a 66-year-old most important offshore discoveries of the last decade, with former law lecturer who studied for his PhD in London and recoverable reserves estimated at over 600 million barrels. won a Fulbright scholarship to Stanford Law School, came to Even better is that Ghana’s oil is of premium quality, the oil of power in January 2009 and has worked hard to make Ghana choice for refi neries and professionals within the sector. Huge a model of transparency and good governance for the region. stocks of gas have also been discovered, presenting several As a member of the Commonwealth, Ghana enjoys a solid opportunities for fertilizer production and clean energies. relationship with the U.K.: The U.K. is Ghana’s most impor- Thanks to these two elements, openings in power supply tant trading and development partner, as British Prime Minis- and generation are enormous. The government wants to take ter David Cameron confi rmed at an offi cial visit to Ghana advantage of this, as well as Ghana’s unique strategic location following his election victory this year. “We look forward to in West Africa, to position Ghana as the new energy hub in the continued partnership and cooperation between the United region. All eyes will be watching closely to see if the republic Kingdom and Ghana, just as we look forward to stronger can use the wealth generated to fulfi ll its dream of becoming ties and solidarity between the New Patriotic Party and the a middle-income country by 2020 and avoid the mistakes of Conservative Party,” he said. its beleaguered, oil-producing neighbor, Nigeria. “Ghana is obviously new to this industry, and we haven’t “The Better Ghana agenda is about investing in people, built up local capacity yet, so the government is encouraging investing in jobs, investing in the economy and open and joint venture partnerships to facilitate the transfer of know- ledge and technology to local companies,” Mahama says. transparent government.” Vice President John Dramani Mahama Despite the mineral and oil wealth, Ghana is still enjoying signifi cant foreign interest in agriculture and is looking to With a mandate to help implement President Atta Mills’ become a net exporter of food within the next fi ve years. The Better Ghana initiative, Vice President John Dramani Mahama government hopes that growth within this sector will reduce says: “The key pillars of that agenda are investing in people, the country’s current account defi cit, which is largely linked investing Press.pdfin jobs, investing 1 10/13/10 in the 12:57 economy PM and open and with food imports. Current government policy is making transparent government.” provision for both local and foreign companies to add value C M Y CM MY CY CMY K T BO Ghan v11.indd 1 12/3/10 1:13 PM GHANA SPECIAL ADVERTISING SECTION to its two major commodities—gold and cocoa—while review- ing the Ghana Investment Promotion Center code to improve tax conditions for foreign investors. “Our overriding desire is to position Ghana as a gateway to the sub-region—we are champions of sub-regional integra- tion,” Mahama says. “Knowing the competitive advantages that Ghana has over its fellow Economic Community Of West Joe Oteng-Adjei Kwabena Duffuor Charles Darku African States (ECOWAS) members, we believe we can be the Minister of Energy Minister of Finance and CEO, Ghana Grid Economic Planning Company Ltd. (GRIDCo) gateway for access. In terms of competitiveness, Ghana has advantages in terms of the resources we possess and the “By using gas-powered electricity in industry and manufac- supply and production of power. Our vision in this area is to turing, which is much cheaper than when it comes from oil, become the leading exporter of power in the sub-region.” these sectors will have more opportunity to thrive and have more value added to their products and services. A competitive economy “Our second priority is to use gas for fertilizer. We have With oil production slated to start in the last quarter of 2010, the land and farmers, but our yields are not what they could the Ministry of Energy is encouraging Independent Power be because we continue to use traditional farming methods. Producers (IPPs) and is depending on the private sector to With a fertilizer plant we should be able to price the fertilizer invest in and develop power generation facilities, while the as low as possible to make it affordable for farmers, and as a government looks after transmission. result, help them to increase their agricultural output.” Minister of Energy Joe Oteng-Adjei says: “Ghana has Minister of Finance and Economic Planning Kwabena learned a lot over the years. Everyone thought gold would Duffuor, who advocated the discipline and expertise needed be the main driver of the economy. Then came diamonds and to stabilize Ghana’s economy and bring inflation down to agriculture, but we were not able to utilize these to support single digits within 18 months, says: “The government has our economy, or, for that matter, improve the standard of prepared a petroleum-revenue-management law, which is living for our people. We are determined to properly manage currently before Parliament for approval. the revenue generated by the new oil and gas and plan to use “Through this law, we will be able to collect and manage it to fuel other sectors. the revenue to benefit all Ghanaians. We have learned from www.ghanaports.gov.gh TO BE THE REGIONAL HUB IN WEST AFRICA As the export and entry points for most of Ghana’s trade activities, the Ports of Takoradi & Tema are well known Adding machines Aerials Albums Ampliers Answerphones Apparel Baby strollers Bags (brief cases, etc) Battery chargers Bedding Blankets Bicycles for their operational excellence. A Binoculars Boats Boat ttings Burglar alarms Calculators Calendars Cameras Caneware Carpet/rugs Cassette deck/recorders C B Units Ceramic tiles transshipment hub for the region, Chainsaws Chinaware Crockery Cigarette Lighters Clocks Clock radios Clothes Driers Coffee Percolators Compact Disc players Computers Confectionary the Ports of Ghana are currently Cosmetics Crock Pots Crops/Whips Cutlery Data Processing Machines Depth Sounders Dictaphones Dinghies Dinner Sets Dishwashers DrinkingGlasses DVD Portable Players DVD Recorders Electric Blankets Electric Can Openers Electric Hairclippers Electric Knives Electric Sharpeners Electric Shavers Electric Stoves Enlarger undergoing exciting expansion that will Equalizers Films Flash equipment Food Grinders Food Mixers Food Processors Footwear Fur Coats Furniture Garage Door Openers GasOperatedBBQ'sGlassesGolfBalls ensure Ghana’s continued growth and we Golf Clubs Groceries Guitars Hairdryers Haircurlers Handbags Handtools Hats Headphones Heaters Helmets Home Computers Inatable Dinghies Instant Coffee Intercoms invite serious investors to be a part of that. I-pods Irons Jewellery Jugs Lamps Lens (Photographic) Linen Massagers Microphones Microwave Ovens Mirrors Metal Detectors Model Engines Motor Cycle Parts Motor Vehicle Parts MP3 Players Musical Instruments Navigational Equipment: Radar navigation Radio navigation Ornaments: China Ceramic Glass Wooden Ovens (Microwave) Outboard Motors Paint Perfumed Spirits Pewter Ware Photo Albums Picture Frames: Metal Pots and Pans Prams Projectors Purses Racquets Radar and remote controlapparatusRadiosR Radio broadcast receivers Razors (Electric) Record Turntables Record Needles Record Cartridges Records (Discs) Roller Skates Roof Racks Rugs (Travel) Saddles Sandwich Makers Sewing Machines Shavers (Electric) Skateboards Skis: Snow Water Sleeping Bags Snowboards Space Heaters GHANA PORTS AND HARBOURS AUTHORITY P.O. Box 150 Headquarters, Tema Spark Plugs Speakers Stationery Stones (Natural, Unmounted) Strollers Suitcases Tel:+233 (0) 303 202631-8 | Fax:+233 (0) 303 202812 | [email protected] Sunglasses Surfboards Tapes: Audio Blank Audio Recorded Video Blank Tel:+233 (0) 303 204385-8 | Fax:+233 (0) 303 204136 | [email protected] Video Recorded Telephones Cellular Telephone Answering Sets Television Sets Tel:+233 (0) 3120 24073/24136 | Fax: +233 (0) 3120 22814 | [email protected] Tents Toasters Torches Toys Turntables Typewriters Tyres TV Games Tel: +226 50301201 | Fax: +226 50301201 | [email protected] Umbrellas Vacuum Cleaners Video Cameras Video Machines Voice Recorders (digital) Voltage Meters Wallpaper Watches Waterbed Mattresses Washing Machines (Domestic) T BO Ghan v11.indd 2 12/3/10 1:13 PM SPECIAL ADVERTISING SECTION GHANA many different countries and have selected the best manage- We guarantee investors repatriation of profits. We are very ment mechanisms.” grateful to Her Majesty the Queen for her directive to the With British firm Tullow Oil leading the way in the energy Prime Minister to engage with Commonwealth countries. She sector, Duffuor sees Ghana/U.K. relations going from strength was very gracious to mention Ghana specifically. We expect to strength. “Tullow Oil has done a great job with the oil and the Prime Minister to seize the opportunity and really bring through that, we expect to see a lot more investment.