1. Understand Ghana’s Political Economy
Foreign companies often overlook Ghana’s political and economic dynamics, leading to unexpected challenges in government contracts.
2. Commercial Deals Are Public Policy Issues
Contracts with the Ghanaian government frequently intersect with public policy, complicating what seem like straightforward business agreements.
3. Overreliance on Political Lobbying Is Risky
Switching to lobbying after issues arise, such as debt repayment delays, often yields limited success in Ghana.
4. Large-Scale Projects Face Greater Scrutiny
Ambitious projects like Zipline’s medical drone delivery often become unsustainable due to Ghana’s financial constraints.
5. IMANI’s Advocacy Highlights Overspending Risks
IMANI argued for scaling down Zipline’s project to avoid piling debts, but their warnings were ignored.
6. PR-Driven Projects Can Backfire
Government reliance on high-profile initiatives for publicity often overlooks long-term financial sustainability.
7. Foreign Pressure May Create Resentment
Enlisting American lobbyists or politicians to pressure Ghana often undermines local goodwill and cooperation.
8. Historical Context Matters
Cases like Exxon and Kosmos show how foreign firms face obstacles when they disregard Ghana’s socio-political climate.
9. Debt Accumulation Damages Relationships
Ghana’s inability to pay $251 million owed to American companies highlights risks for foreign investors.
10. Local Partnerships and Dialogue Are Essential
Successful ventures require a nuanced understanding of Ghana’s environment and proactive engagement with local stakeholders.
Ignoring Ghana’s political economy while focusing solely on commercial aspects can lead to costly setbacks for foreign investors.
