Investment opportunities exist for producers and processing companies in the following areas:
Ghana has a wide range of agro-products that are currently exported in their raw state. Opportunities therefore exist in the agro-food processing sector for manufacturing industries to add value to local agricultural products e.g. cocoa, cashew, tropical fruits and vegetables. With the emphasis shifting from raw exports to processed exports, the investment opportunities are endless.
Guinness Ghana Limited and Accra Brewery Limited have introduced cassava beer into the Ghanaian market which is currently doing very well. . The introduction of the beer has provided ready market to cassava farmers. This is partly responsible for the general increase in the area put under cassava production. So far, a total of 4,741mt have been purchased, with Guinness Ghana Limited buying over 74 per cent and Accra Breweries Limited buying the rest.
Brazil Agro Business Ltd, PVL, GADCO, Aveyime, Afife/ Weta, ICOUR, are also large scale rice commercial farms operating under irrigation. Their milled and branded packaged rice are sold everywhere on the Ghanaian market. These farms are contributing immensely to the increased rice production and consumption in Ghana.
The seafood processing sub-sector is emerging as one of the attractive sectors for investment. The free zone can currently boast of one of the major fish processing firms in West Africa, processing about 170 tons of seafood (tuna) a day. There is, in fact, a large volume of tuna, available all year round in the coastal water of Ghana. The processing of tuna and many other marine species therefore presents a great opportunity to any investor interested in seafood processing.
Table 1: Ghana’s exports of some prepared or processed foods– 2014
Product |
Weight (Kgs) |
Value (US $) |
---|---|---|
Cocoa Paste |
170,096,360 |
568,820,471 |
Cocoa Powder |
27,543,179 |
64,040,806 |
Cocoa Shells, Husks |
21,199,234 |
12,208,875 |
Cocoa Confectionery |
1,415,423 |
4,763,639 |
Chocolate |
50,977 |
128,924 |
Cocoa Butter |
2,860 |
34,463 |
|
|
|
Dairy Products |
|
|
Milk&Cream |
2,431,354 |
13,873,683 |
Butter,Cheese Etc |
370,045 |
195,144 |
Yogurt: |
30 |
12 |
|
|
|
Prepared Foods |
|
|
Canned Tuna |
24,090,904 |
151,812,675 |
Cut Fruits |
6,373,739 |
50,188,806 |
Baby Food |
4,348,967 |
24,147,316 |
Coffee Prepared |
3,235,277 |
13,172,758 |
Groundnuts Prepared |
4,605,318 |
11,243,457 |
Sweet Biscuits |
4,149,145 |
10,003,071 |
Pasta |
3,814,024 |
4,746,943 |
Tomato Paste |
1,963,545 |
1,329,466 |
Canned Sardine |
370,178 |
423,955 |
Canned Meat |
684,616 |
412,434 |
TAX INCENTIVES
Corporate Tax |
25% |
Rent Tax |
8% |
Mineral Royalties |
5% |
VAT |
15% |
NHIL |
2.5% |
Hotels |
22% |
Financial Institutions- Income From Loan To Farming Enterprises/Lease Company |
20% |
Companies Engaged In Non- Traditional Export |
8% |
Companies Listed On The Stock Exchange |
22% |
INVESTMENT INCENTIVES
Sector |
No. Of Years |
Percentage (%) OnChargeable Income |
Real Estate (Certified Low Cost Housing) |
5 Years |
1% |
Rural Banks |
10 Years |
1% |
Cattle Ranching |
10 Years |
1% |
Tree Cropping (e.g Coffee, Oil Palm, Shea-Butter and Coconut) |
10 Years |
1% |
Livestock Excluding Cattle And Poultry |
5 Years |
1% |
Fish Farming, Poultry And Cash Crops |
5 Years |
1% |
Agro-Processing – Converting Fish, Livestock Into Edible Canned Products |
5 Years |
1% |
Waste Processing (Including Plastics and Polythene) |
7 Years |
1% |
Free Zones Enterprise/Development |
10 Years |
0% |
LOCATIONAL INCENTIVES ( Tax Rebates)
Manufacturing industries located in:
Accra and Tema |
25% |
All other regional capitals |
18.75% |
Located outside regional capitals |
12.50% |
b) After the initial 5-year tax holiday period, agro-processing enterprises which use local agricultural raw materials as their main inputs shall have corporate tax rates fixed according to their location as follows:
Accra-Tema |
20% |
Other Regional Capitals (except Northern, Upper East and Upper West Regional Capitals |
15% |
Outside Regional Capitals- |
10% |
Northern, Upper East and Upper West Regions (capitals and all other locations |
5% |
Exemptions
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.
Investment Guarantees
Step 1: Business Registration at Registrar General's Department (RGD)
All enterprises are expected to fill out the relevant Application Forms, which serve as the Company’s Regulations. All companies must have an auditor, who must be a member of the Institute of Chartered Accountants, but should not be an officer or servant of the company or be an employee or partner of such persons. When all such forms have been filled satisfactorily and relevant fees paid, a Certificate of Incorporation and a Certificate to Commence Business are issued.
Click to access basic Costs and Fees applicable at the Registrar General's Department office.
Step 2: Register with the Centre (GIPC)
The GIPC is responsible for registering all Enterprises in Ghana.
Application Procedure: Investors are required to complete Investor Registration Forms (Form GIPC/R1) in duplicate. Within five (5) days from the date of orderly receipt of these forms (and its attachments) the GIPC will formally register the investment.
Below are the relevant fees and costs applicable at GIPC.
REGISTRATION
Prices are in GH¢
STRATEGIC PROJECTS
Prices are in GH¢
EXEMPTIONS (PER BILL OF LADING/AIRWAY BILL)
All prices are in GH¢
QUOTA/WORK PERMITS
All prices are in GH¢
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