industry

Industry

The West African region has enormous advantages that position it favorably to capture demand flowing out of Asia and other regions. It is among the world’s fastest urbanizing regions with a rapidly growing and affordable labor force. It is also the 6th largest cotton-producing region globally.

Ghana is ideally positioned as a first-mover in establishing a regional apparel hub, supported by its Anglophone population and its stable, investor-friendly government. Below is a summary of the country’s competitive edge.

Geographical Advantage

• Average transit times of 14-18 days to the U.S. and 14-22 days to Europe, typically 2-5 weeks faster than East Africa and Asia.
• Ghana’s Port of Tema is among the most efficient ports in the region

Favorable trade agreements

• Duty-free exports to the U.S. under AGOA (15-32% cost reduction) and to the EU under EPA (up to 12% cost reduction)
• Particularly strong advantages for synthetic and polyester fabrics

Large Affordable Workforce

• Ghana’s statutory minimum wage is 5x lower than China’s, 3x lower than Kenya’s, and 50% lower than Bangladesh’s
• Anglophone population of 32 million, 57% of which are <25 years

Peaceful, Stable & Democratic

• Ghana is the most peaceful country in West Africa, underpinned by a homogenous population that shares cultural bonds
• Stable democracy with a 30-year track record of peaceful elections

Supportive Business Climate

• Consistently ranked 1st in West Africa in the World Bank’s annual Ease of Doing Business ratings
• Robust industrial policies and targeted investment promotion support

Gateway to West Africa Region

• Ghana’s central location, infrastructure, and political stability make it a gateway to the broader West African region
• Easy access to Nigeria’s massive consumer and labor market