Ghana Free Zones

Ghana Free Zones: Unlocking Investment Opportunities

Ghana’s Free Zones, established in 1995 by the Ghana Free Zones Authority (GFZA), are designed to attract international businesses through a range of incentives and benefits. These zones provide an ideal platform for investors, entrepreneurs, and businesses looking to expand globally. They focus on export-oriented industries, requiring businesses to export at least 70% of their production. Industries within these zones include technology, manufacturing, oil and gas, and more.

Key Free Zones in Ghana:

  • Ashanti Technology Park (445 ha) – Focus on technology and innovation, including software development, ICT solutions, and electronics assembly.
  • Sekondi Export Processing Zone (80 ha) – Specializes in oil and gas services, logistics, warehousing, and light manufacturing.
  • Shama Export Processing Zone (1,295 ha) – Targets agro-processing (e.g., cocoa, palm oil) and heavy industries like steel and cement.
  • Tema Free Zone (480 ha) – Focuses on logistics, food processing, and pharmaceuticals, with access to Ghana's largest seaport.

 

Benefits of Ghana’s Free Zones:

Tax Incentives:

Enjoy corporate income tax exemption for 10 years, followed by a reduced rate of 8%. There are also customs duty waivers and no export or dividend taxes.

Operational Advantages: Businesses can benefit from 100% foreign ownership, unrestricted profit repatriation, and simplified import/export processes.

Legal Protections:

Ghana offers strong legal safeguards, including protection against expropriation through Bilateral Investment Treaties (BITs) and international arbitration.

Strategic Location and Market Access: Ghana’s Free Zones offer access to over 300 million consumers in West Africa via ECOWAS and a market of 1.3 billion people through the African Continental Free Trade Area (AfCFTA). Additionally, Ghana has favorable trade agreements with the European Union, enhancing access to European markets.

World-Class Infrastructure:

Free zones are equipped with reliable utilities like electricity, water, and telecommunications. They also feature on-site customs offices, duty-free warehouses, and fully developed industrial parks with factory shells and office spaces.

Natural Resources and Skilled Workforce: Ghana is rich in resources such as cocoa, gold, oil, and gas, supporting various industries. The country also offers a skilled workforce, with a steady supply of educated labor to meet the needs of industries like technology, manufacturing, and agriculture.

Political and Economic Stability:

Known for its stable democracy, Ghana provides an investor-friendly environment with policies that support long-term growth and profitability.

Ghana’s Free Zones offer an attractive investment opportunity for businesses across various sectors, including technology, agriculture, oil, gas, and manufacturing.With strategic access to regional and global markets, tax incentives, strong infrastructure, and political stability, Ghana is quickly becoming a leading business hub in Africa.

 

 

For more information, visit the official Ghana Free Zones Authority website at www.gfzb.gov.gh.

 

 

 

   Updated on: Thursday, November 21st, 2024