The country’s economy is gradually developing and recovering from the COVID-19 crisis.
A World Bank survey indicated that Ghana would meet its growth target of 3.5% by the end of the year.
So now is the right time to start your own business in Ghana.
Below are six business opportunities, as highlighted by top African entrepreneurs and investors.
- Retirement home for the elderly in Ghana
Most parents in Ghana are alone in their old age. There are very few formal care facilities for the elderly in the country.
Based on this, Pulse.com.gh thinks this is an opportunity worth exploring.
- Export of fast-moving niche consumer goods
Young entrepreneurs may also consider exporting niche FMCG products, such as dried mango, various fruit jams, sugar-free chocolate and canned catfish. Ghanaians and Africans in the Diaspora are said to frequent these products.
- Co-living spaces for young workers
Co-living is a residential community living model that typically offers a private bedroom, with shared common areas. Typically, cohabitation referred to an arrangement in which three or more unrelated people shared a private home, but it has evolved into large real estate developers now creating apartment buildings with residential sharing with short-term leases or flexible.
- Production of cannabis products
There are a number of investment opportunities in the cannabis industry that one can take advantage of.
From hemp-based products to the export of pharmaceutical ingredients, South Africa’s nascent cannabis industry can be an export destination.
The main areas of opportunity are the cultivation of cannabis, followed by the extraction of oil from the plant, testing laboratories, and the retail and marketing of CBD products. There are also investment opportunities in the manufacture of cannabis-based pharmaceuticals (an underdeveloped area in Ghana), but this requires a license from the Food and Drugs Authority.
There is still a huge gap between traditional theoretical training and business needs.
You can invest in technology solutions that can meet this need on a large scale (for example, investing in an online professional training platform).
Poultry is a big market and in the context of Africa, chicken tops the list.