Ghana is open to foreign investment in sectors including agribusiness, manufacturing and agro-processing, but foreign investors must comply with laws restricting their participation in retail trade, Trade, Agribusiness and Industry Minister Elizabeth Ofosu-Adjare said.
“We are open to everything legitimate. We invite you to trade and invest within the law, but do not violate Ghana’s laws by engaging in retail trade,” Ofosu-Adjare said.
The minister made the comments after receiving a report involving the Ghana Investment Promotion Authority (GIPA), the Ghana Union of Traders Association (GUTA) and the Nigeria Union of Traders Association.
The warning is expected to balance attracting foreign capital with protecting areas of the economy reserved for Ghanaian businesses.
Ofosu-Adjare encouraged foreign investors to explore opportunities in agribusiness, manufacturing, commercial contract farming and agro-processing, sectors the government views as important to industrialisation and sustainable economic development.
The government, according to her, remains committed to maintaining a fair and business-friendly investment environment while ensuring that investors operate within Ghana’s legal framework.
The discussions with the investment authority and traders’ associations come amid continued concerns over the participation of foreign nationals in Ghana’s retail sector, an issue that has periodically created tensions between local traders and foreign businesses.
Ofosu-Adjare said the government’s position was not against foreign investment but centred on ensuring compliance with the country’s laws.
