Glimpse of hope in West Africa: The experience of South African Firms doing business in Ghana

"Relations between Ghana and South Africa have improved and expanded greatly since 1994 in light of the political and economic transformations in both countries. Both investors and government officials in South Africa regard Ghana as a beacon of hope in the volatile, unstable and conflict-ridden West African region. The robust established niche economy that has developed in recent years, generous government incentives for foreign investors, sound macro-economic reforms introduced by the government to slash inflation, debt, poverty and unemployment, and the implementation of IMF programmes designed to prepare the economy for stable growth have made Ghana a promising market for South African products and investments. As a result, South Africa has taken advantage of Ghana's political and economic strength by increasing trade and investment with that country in recent years. However, the tremendous potential for the expansion of trade and investment between the two states does not imply that Ghana imposes no constraints on foreign investors or businesses. Most South African companies have encountered some risks and impediments associated with business practices in Ghana."