Do you want to start a business in Ghana as a foreigner but you lack ideas? If Yes, here are 50 best small business ideas & investment opportunities in Ghana.
Ghana is one of the countries with the fastest growing economy in Africa. Now you may want to know the potentials and fundamentals of doing business in Ghana. With a strong mineral resources sector, cocoa industry, consistent government policy, recent oil discoveries, steady power supply, friendly business environment and a free trade zone for foreign companies; Ghana is definitely a country to beat in the future.
Why Start a Business in Ghana?
The economy of Ghana has a diverse and rich resource base, including the manufacturing and exportation of digital technology goods, automotive and ship construction and exportation, and the exportation of diverse and rich resources such as hydrocarbons and industrial minerals. These have given Ghana one of the highest GDP per capita in West Africa. Owing to a GDP rebasement in 2011, Ghana became the fastest-growing economy in the world.
The Ghanaian domestic economy in 2012 revolved around services, which accounted for 50 percent of the GDP and it employed 28 percent of the workforce. Ghana is ranked 114 among 190 economies of the world when it comes to the ease of doing business.
But despite the rapid growth and reformation that the country is enjoying, the country is still falling short in many aspects. And this has opened the door of opportunities to entrepreneurs who are smart enough to identify these loopholes and deal with them. So, if you are looking for a business opportunity to start in Ghana, here are 50 best business opportunities you can choose from.
50 Best Business ideas and Investment Opportunities in Ghana
- Car Dealership Business
One thriving business that an aspiring entrepreneur or investor can start in Ghana is car dealership. Operators in the car dealership industry sell and buy both brand new and used cars and they may fall in any of the following niche area; brick and mortar car dealership, online used cars dealership, locally produced car dealership, imported car dealership, luxury car dealership business and multi – brand and multi – maker car dealership.
The automotive industry in Ghana with reference to used cars dealership is indeed flourishing because more and more consumers are becoming aware of the need to cut unnecessary spending as it relates to purchasing cars.
- Open a Bar and Grill Business
Opening a bar and grill business can be fascinating at the same time worthwhile especially if you position your bar and grill business in strategic locations where you can easily attract socialites and people who love night life.
The fact that in Ghana people will always hangout in bars makes it one of those businesses that is in high demand and it is also profitable. Bar and grill business is one of the businesses that an entrepreneur can successfully start in the corner of a busy street without breaking the bank for cash.
- Open a Beauty Supply/Cosmetics Store
There are avalanches of beauty products that are seen on the shelves in stores all around Ghana. These products have various uses and they meet the requirements of folks in different ways. It is important to point out that beauty supply business is one the businesses that can’t go out of fashion simply because of the role it plays in the society.
Depending on the scale you want to start, the startup capital for this type of business can be considered to be moderate. As a matter of fact, you can start your own beauty supply store and then grow it big within a short period of time by re-investing your profits back to the business.
- Start a Boarding School
If you live in Ghana you will quite agree that it is indeed brisk business running a boarding school. Parents who are pretty busy would always take their children to boarding schools where they can learn and live throughout the school session.
Please note that setting up a boarding school requires hard work and serious planning. You are expected to apply and obtain permits and licenses to run such facility from the government, and your facility must meet the required health and safety standards before you can be allowed to operate.
- Start the Production of Bottled Water
Another thriving business that an aspiring entrepreneur can start in Ghana is the production of bottled water. Production companies in the bottled water industry basically purify and bottle water into plastic and glass bottles for consumption.
The bottled waters are properly capped and labeled before being sold to the general public. Needless to say, there are readily available markets for bottled water in Ghana because every human on the face of the earth need to drink clean water to survive. The bottom line is that economic recession hardly affects the rate of consumption of bottled water especially during summer (hot) period.
- Start a Bridal Makeup Business
A bridal make – up artist is someone who makes up the bride and her bridal train during wedding ceremonies. This type of business is not capital intensive and you can start the business from your savings. If you are hardworking and you have the right network in place, you can generate your start-up capital from one business deals.
One good thing about the bridal makeup business is that most often than not, weddings are held during weekends and if you are lucky not to be working during weekends, you can successfully test run a bridal makeup business. As a matter of fact, you can combine your bridal makeup business with any other business without over working yourself.
- Open a Bureau De Change Shop
As a Ghanaian or someone who lives in Ghana, if you want to engage in international trade cum business, you need to obtain the required currency. This goes to show that bureau de change business in Ghana is a viable business that an aspiring entrepreneur who looking towards starting a business can successfully start.
The truth is that if you choose to open a foreign exchange / bureau de change shop in a commercial city in Ghana, you will definitely make huge profit from the business because indeed it is a thriving and viable business.
- Start a Call Center Business
Call center business is one of many businesses that in recent time is not location bound; a call center can be located in Ghana or Nigeria and work for clients in the United Kingdom or the United States of America. This is as a result of outsourcing services such as telemarketing and customers care services.
So, if you are an aspiring entrepreneur with enough capital, one of the businesses you should consider starting in Ghana is to open a standard call center that can handle clients from the United States of America and other countries of the world.
- Open a Car Accessories Store
If you are looking for a business to start in Ghana as an entrepreneur and you know you have interest in the automobile industry, then you should consider starting your own car accessories store.
Although you don’t need a college degree to establish your own car accessories and auto spare parts store, but you need some form of informal training, you might have to work as an apprentice with someone who owns a car accessories and auto spare parts store.
It makes it easier for you to learn the ropes and how to manage your own business. It is important to point out that car accessories and auto spare parts store business is one the businesses that can’t go out of fashion simply because of the role it plays in the auto industry.
- Start a Cattle Farming Business
If you are interested in going into serious animal farming business, then you should consider a cattle farming business in Ghana.
Cattle farming is perhaps one of the most lucrative animal farming businesses an entrepreneur can start, but that does not rule out the fact that it can sometimes be challenging especially if you don’t live around a farm community where you can easily build your cattle ranch. Cattle rearing is of course a thriving and profitable business because of the usefulness of beef and other by products from cattle.
- Start a Commercial Cleaning Company
There are loads of business opportunities in Ghana and any entrepreneur who desires to start a business in Ghana can successfully start a commercial cleaning business and generate good returns from the business with a short period of time.
This is because the commercial cleaning industry is a thriving industry in Ghana. This type of business can be started by anybody as long as you have eyes for details and cleanliness. If you have experience in this regard, it will be easier for you to start and effectively run a cleaning business.
- Start Coffee Exporting Business
A coffee export business involves exporting a wide variety of coffee, either raw coffee beans and finely packaged coffee, from Ghana to other countries where they are either processed or consumed.
If you are considering starting a coffee export business in Ghana, the good news is that you can’t get it wrong because the Ghanaian government is supporting the export of cash crops from Ghana to other countries of the world, plus the fact that coffee is consumed by people all across the world and there are several outlets that are willing to purchase coffee from you if you have good coffee.
- Open a Consignment Shop
Another thriving business that can be started in Ghana is a consignment shop. A Consignment Shop is a shop where fairly used goods are sold. It could be clothes, shoes and other fashion accessories, sport wares, automobiles, electronics, furniture, toys, books, tools, musical instrument, office equipment, machines, etc.
You can start this business without money because you would only be required to collect goods from people who are cleaning and clearing their wardrobes, houses, offices or garages at no cost at all. In other words, you would be automatically helping them get rid of the items they do not want and in turn make your profit.
- Start a Construction Company
A construction company is yet another thriving business that can be started in Ghana. Starting a construction business is capital intensive simply because of the type of heavy-duty equipment that are required to carry out a construction project and also the cost of managing a large workforce.
Despite the fact that the construction industry requires huge startup capital, the industry is highly profitable especially if you have the expertise and capacity to deliver good quality the jobs. The major clients for construction companies are governments and the private sector.
- Start a Cyber Security Company
Cyber security companies or IT security consulting firms manage IT security services, such as firewalls, intrusion prevention, security threat analysis, proactive security vulnerability and penetration testing and incident preparation and response, which includes IT forensics.
In Ghana, cyber crime is on the increase hence starting a cyber security business is therefore a lucrative business to go into because individuals, businesses and the government need their data protected.
However, to start this kind of business, you will need to have the technical skills that will be needed to secure data or stop an ongoing attack for your client. However, due to the technical nature of this business and the need to understand what you will be getting into from the business aspect, it would be wise to consult with a business consultant in the area where you intend starting the business.
- Open a Fabric Store
A fabric store business is one of the many businesses that can be started in any part of Ghana and the owner of the business can still generate good turnover year in year out. Entrepreneurs who intend starting a fabric store business can as a matter of fact start from their car or garage.
The bottom line is that there is always a ready market for fabrics. All a fabric retail store needs to do is to ensure that they have quality fabrics both locally and from different parts of the world, and also ensure that their fabric store is well positioned.
- Open a Fast Food Restaurant
It is a known fact that ever since fast food restaurants became the norm in the society, loads of entrepreneurs have becomes millionaires. If you are interested in the food industry, one of the coolest ways of making money is to open a fast food restaurant in Ghana.
It is important to state that loads of fast food restaurants close shop because they failed to conduct detailed market survey and feasibility studies before opening. Your ability to re – strategized and always up your service delivery will help you stay competitive.
- Start a Feed Mill Business
There are loads of business opportunities in the poultry farming industry in Ghana and poultry feed mill is one of them. Poultry mills is a production facility where different poultry mashes are produced like layers mash, pre-layers mash, growers mash, broilers starter and finisher et al.
This a business that is open to an aspiring entrepreneur especially those that live around farm communities. All you need to get started is a well – positioned and government approved facility, steady supply of grains and of course, the in and out of running the business. It is important to point out that poultry feed mill business is one the businesses that can’t go out of fashion simply because of the role it plays in the poultry industry.
- Start a Fish Farming Business
If you are interested in going into serious aquatic farming in Ghana, then you should consider a fish farming business. Fish farming is perhaps one of the most lucrative aquatic farming businesses an entrepreneur can start in Ghana, but that does not rule out the fact that it can sometimes be challenging especially if you don’t live around coastal areas where you can conveniently create a demarcation for breeding your fish in commercial quantity.
Beyond the generally knowledge of fish farming, you would need to study the process of farming fish if you want to become successful with the business. In order to maximize profits with your fish farming business, you need to learn the process of hatching fish eggs and then groom them to maturity when they will be due for harvest.
- Open a Frozen Food Shop
A frozen food store is a retail outlet where different frozen foods are sold and it is a business that can be started in any location in Ghana. A frozen food store is a very easy business to start and it is not so capital intensive. Getting the right products that people want to buy and good record keeping are the secrets of running a frozen food store. A frozen food store can be run offline in the conventional retail store or online on an online e-commerce retail site.
- Start Groundnut Oil Production Plant
Another thriving business that can be started in Ghana is groundnut oil production business. Actually, starting a groundnut oil production company is not one of those businesses that can be started without proper research and study of the industry. Groundnut oil production company can be considered to be capital intensive, but it is indeed a money – spinning business if it is well located and if you are able to create a robust distribution network.
- Open Hair Extension Production Factory
It is a known fact that hair extensions and similar products are used in all parts of Ghana and of course those that are in the business of producing these products, are known to generate sales year in year out if the business is well – managed.
As a matter of fact, economic downturn hardly affects the usage of hair extensions and similar products simply because it is a commodity that plays a major role in the beauty world. This is no wonder the production of hair extensions et al have continued to soar high.
- Start Hotel Business
Indeed, starting a hotel business is capital intensive and it is considered a long-term investment because it takes a while for the owners to breakeven and start making profits. No doubt it takes a big-time investor to consider starting his or her own hotel business, which is why loads of hotels are owned by groups of investors.
One good thing about the hotel business is that the business can grow so big that it will not only have active presence in key cities in the country where it started from, but in major cities in all the continent of the world.
When you talk about a hotel, you are talking about an establishment that provides lodging for guest / travelers, tourist, visitor et al, on a short-term basis with a fee. When people lodge in hotels, they have the options of subscribing to other services the hotel offers.
- Soap, Washing Powder and Synthetic Detergent Manufacturing Company
Starting this type of business means that you will be involved in the manufacturing of products such as laundry soap, transparent soap, translucent soap, toilet soap, medicated soap, industrial soap, soap flakes, soap powder and synthetic products.
Synthetic products include household and industrial detergents used for cloth washing, dish washing, body and hair washing, etc. The fact that laundry detergents are used in all homes and laundromats makes the product an essential household commodity. Any entrepreneur who intends to go into this business should plan rightly and research thoroughly so that the risks in the business can be greatly minimized.
- Freight Packing and Logistics Services Business
A freight packing and logistics services business is a business that provide consolidation of freight consignments, trade document preparation, packing, crating and otherwise preparing goods for transportation and logistics consulting services. With this type of business, you can choose to operate from any part of the country as long as there are businesses and people who will patronize your services.
The truth is that a freight packing and logistics services business is a profitable business in Ghana, even though it is capital intensive. Getting the right medium (motor cycles, drones and delivery vans and trucks et al) and good tracking devices are some of the secrets of running a successful freight packing and logistics services business.
- Open a Medical Clinic/Hospital
Another highly thriving business that can be started in Ghana especially if you are a medical doctor is a medical clinic/hospital. Medical clinic or hospital provide surgical and nonsurgical diagnostic and medical treatment to inpatients with medical conditions.
In general, hospitals maintain inpatient beds and usually provide other services such as outpatient services, operating room services and pharmacy services. There is indeed a very large market for hospital (healthcare service) providers in Ghana.
- Start a Metal Door Production Company
A metal door production business is of course one of the many businesses that can be started in any part of Ghana and the owner of the business can still penetrate the global market by simply exporting his or her products. Metal doors are basically doors made from metal materials and in some cases, these doors are bullet – proof and are used in situations where security is of top priority. It is a known fact that the production of metal doors has continued to soar high.
- Start Micro Money Lending Business
If you live in Ghana, you will agree that loads of entrepreneurs are making money from offering small loans to individuals who cannot access loans from banks. Starting a micro money lending business can be demanding and risky at the same time, but if you have done your due diligence before venturing into the business, you are likely not going to run at a loss.
First and foremost, you are expected to have experience in the financial industry. It will pay you to study accountancy or banking and finance if indeed you want to venture into this line of business.
- Open a Naturopathy Clinic
This line of business is thriving and profitable in Ghana and in most countries of the world. So, if you are interested in starting a business in the alternative medical practice in Ghana, then you should consider opening your own naturopathy clinic business. Generally, naturopathy which is a complimentary medical practice that uses natural remedies to help the body heal itself.
It embraces many therapies, including herbs, massage, acupuncture, exercise, and nutritional counseling. This includes therapies from the sciences of clinical nutrition, botanical medicines, homeopathy, physical medicine, exercise therapy, lifestyle counseling, and hydrotherapy, which is the use of water to treat a disorder or disease.
- Start a Network Marketing Business
If you are interested in the network marketing industry, you can bet that there is no limit to the fortune you can make from the industry as long as you are creative and have good marketing and networking skills.
If you live in Ghana, you will agree that loads of entrepreneurs and freelance marketers are making good money from selling the products of a company or their own product via network marketing or multi – level marketing as it is popularly called. Starting a network marketing business can be demanding and risky at the same time, but if you have done your due diligence before venturing into the business, you are likely not going to run at a loss.
- Start Pest Control Business
If you are thinking of starting a business in Ghana that can guarantee you steady income, then one of your options is to consider starting pest control business. Pest control businesses is a business that is involved in removing or eradicating potentially harmful insects, rodent and reptiles from farms, commercial and residential properties. When we talk of pest control, we are talking of a service that is as old as agriculture practices. This is because there has always been a need to keep crops free from pests in order to increase crop yield.
- Start Porta Potty Rental Business
If you have ever considered starting a sanitation or rental related business in Ghana, a business that to a large extent is not highly competitive, then one of your options is to start a porta potty business. A porta potty business is involved in renting and cleaning portable toilets. It is a business that is doing reasonably well in Ghana and other West African countries. The truth is that a porta potty business can’t go out of fashion because of the role it plays in the society especially outdoor events.
- Poultry Processing Plant
Loads of people in Ghana eat poultry meat (chickens, turkey, various birds, quails, guinea fowls, ducks et al) on a daily basis hence the need to have poultry processing plant to able to meet the needs of poultry consumers. As an aspiring entrepreneur, if you have the required startup capital and experience, then you should consider starting your own poultry processing plant in Ghana. It is important to point out that the poultry processing business can’t go out of fashion because people eat poultry meat in different forms on a daily basis.
- Start a Quilting Business
If you are looking for a business to start in Ghana as an entrepreneur with a design and creativity background, then you can consider starting your own quilting company. Quilting done in Ghana has high market value from all across the world. Quilting is the process of sewing two or more layers of fabric together to make a thicker padded material, usually to create a quilt or quilted garment.
Typically quilting is done with three layers: the top fabric or quilt top, batting or insulating material and backing material, but many different styles are adopted. Quilt stores often sell fabric, thread, patterns and other goods that are used for quilting. They often have group sewing and quilting classes where one can learn how to sew or quilt.
- Start a Retirement and Pension Plan Firm
There is a very large market for retirement and pension plan firms in Ghana due to the fact that employees and business owners both from the private sector and the public sector will one day retire and they would need a retirement plan to fall to.
The Retirement and Pension Plans industry is made up of private and public pension funds that provide retirement saving and income benefits. Plans are based on defined benefit and exclude defined contribution. Revenue in this industry refers to total contributions plus net investment income or losses, while establishments refer to the number of funds.
- Start a Scrap Metal Recycling Plant
There are diverse niche areas in the recycling industry and one of them that you can specialize on if you are interested in starting a business in Ghana is to go into scrap metal recycling. It is a business that is highly profitable because there is hardly any part of Ghana that you won’t find used and abandoned metal scarps.
What you need to put in place in order to successfully launch a metal scrap recycling business is the machines and equipment needed, a good knowledge of where to collect used and condemned metal and where to sell the raw materials generated from the recycling process, the legislations guiding the industry as well as strong entrepreneurial skills and determination.
- Start a Security Guard Company
There is hardly any corporate building, business facility or highbrow residential estate in Ghana that you won’t find security guards. This goes to show that the security industry is an integral part of our world especially in a period such as this when crime and terrorism has been taken to an all – time high. A security guard company is any company that provides both armed and unarmed security related services.
- Start Server Hosting Company
One good thing about the information age is that there are several business opportunities that come with it and one of them is to start a server hosting or web hosting company as it is popularly called. Sever hosting companies provide space on a server owned or leased for use by clients, as well as providing Internet connectivity, typically in a data center.
If you are IT inclined and you have the startup capital and you are looking towards starting a business in the IT industry in Ghana, one of your best bets is to start a server / web hosting company. There is indeed a large global market for web hosting companies.
- Open a Smoothie Bar
Another thriving business that can be started in Ghana is a smoothie bar. A smoothie is a blended, sometimes sweetened beverage primarily made from fresh fruit or vegetables combined with ice, frozen fruit or other frozen ingredients.
Some juice and smoothie bars give their clients option of add-ins, such as soy milk, whey powder, green tea and herbal or nutritional supplements et al. A smoothie and juice bar might not be entirely easy to start, but one thing is certain, it is a straight – forward business that can generate steady profits if well positioned and properly managed.
- Open a Staffing Agency
Starting a staffing agency is yet another thriving business that someone with HR background can start in Ghana. Staffing agencies are responsible for helping organizations recruit staff to fill vacant positions in their organization and also help applicants secure employment.
They also offer a wide range of recruitment – related services and contract staffing. Some staffing agencies offer services beyond just recruiting employees but also help in training and preparing the employees to fit into the role that they are being recruited for. Usually such staffing agencies charge more than those who just recruit employees for their clients.
- Start Sweater and Cardigan Knitting Business
Starting a sweater and cardigan business is of course one of the many businesses that can be started in Ghana and the owner of the business can still penetrate the world market once the design is good and it meets a need in the fashion market.
One good thing about starting a sweater and cardigan knitting business is that entrepreneurs who intend starting the business can start their own label from their home on a small scale and service a customized market like schools in the neighborhood. The bottom line is that there is always a ready market for manufacturers of sweaters and cardigans.
- Start a Traveling Agency
Travel agencies render services that covers all aspect of traveling. They help their clients in securing visas (especially transit visas), purchase flight tickets, book hotels, book taxi cabs and bus shuttle services and of course make arrangement for sightseeing amongst other services.
They work in conjunction with airline companies, car rental companies, cruise lines, hotels, railways, tourist site managers and perhaps interpreters and security agencies (supply of bodyguards et al for celebrities and other VIP clients). So, if you are looking towards starting a business in Ghana, then one of your best options is to start a travel agency. It is a cool way of making money from the industry.
- Open a Welding and Fabrication Workshop
Another highly thriving business that can be started in Ghana is a welding and fabrication workshop. When we look around where we work or reside, we will sure note items that were produced by a wielder or has been through a welding process. This is why the services of skilled wielders will always be needed and the craft will keep getting attractive.
Welding is a fabrication or sculptural process that joins materials, usually metals or thermoplastics, by causing fusion, which is distinct from lower temperature metal-joining techniques such as brazing and soldering, which do not melt the base metal. This ever-blooming industry seems to be growing the fastest in recent years and is showing maximum growth in Ghana.
- Open an Amusement Park
An amusement park is yet another thriving business that can be started in Ghana. The truth is that any entrepreneur can model a business after Disney Land in any part of the world and still make huge success from the business.
So, if you are passionate about making children catch fun, then you should think of starting an amusement park in Ghana. No doubt starting an amusement park requires huge startup capital and serious planning, but over and above, it is a profitable venture especially if your amusement park is well equipped.
- Start an Educational Consultancy Agency
If you are an educationist or someone who has background in education matters, and you intend starting your business in Ghana, then you should consider starting your own education consulting firm.
There are many would – be international students and students aspiring to go to colleges / universities who are trapped simply because they don’t know who to talk to when they have challenges with educational matters, that is why it is important to set up your own education consulting firm.
Being an educational consultant means that you will help your clients handle all their educational concerns. You can also help your clients (international students) obtain work permits in their new country of residence.
- Start an Insurance Company
Another lucrative business that can be started in Ghana is an insurance company. Please note that if you are considering starting an insurance company in Ghana, then you would be required to get an insurance license.
The process of obtaining an insurance license might not come easy, but this is depending on your influence and business network in Ghana. Any applicant of insurance license would be required to meet certain laid down criteria and sometimes it is the bureaucracy involved in the whole process that makes it difficult to obtain.
- Open Organic Fertilizer Production Plant
One of the agriculture related business opportunities that an entrepreneur can successfully start in Ghana is to go into the production of organic fertilizer. Organic fertilizer which is also known as compost or manure is produced from human excreta, animal matter or decomposed vegetable/plants. It is what is used in the cultivation of organic food.
There are various sources of organic fertilizer, like the mineral source (peat et al) which is the main source of organic fertilizer. Others are animal sources, plants, and sewage sludge (bio – solids). There is indeed a growing market for organic fertilizer.
- Start Caustic Soda Production Factory
It might interest you to know that caustic soda, or sodium hydroxide, is used in the manufacturing of soap and paper, plastic wrap, paint stripper, chocolate, thickening of ice cream, poultry scalding and soda, and it is the major ingredient in most oven cleaners, storage tanks and liquid drain hence the name ‘industrial cleaning agent’. Needless to say, there are readily available markets for caustic soda no matter the part of Ghana that you decide to start your own production company.
- Start the Production of Evaporated Milk
Another thriving business that can be started in Ghana is the production of Evaporated Milk. Evaporated milk is one commodity that is consumed in all parts of the world and of course those that are in the business of producing evaporated milk, are known to generate sales year in year out if the business is well – managed.
Evaporated milk, which is known as unsweetened condensed milk in some countries, is a shelf-stable canned milk product with about 60 percent of the water removed from the fresh milk. It is different from sweetened condensed milk, which contains added sugar.
- Start Cocoa Production
Lastly, one of the most lucrative farming and exporting business that an aspiring can start in Ghana is to go into cocoa production or farming. Cocoa is the chief agricultural export of Ghana and Ghana’s main cash crop. Behind Ivory Coast, Ghana is the second largest cocoa exporter in the world. If you decide to start cocoa production in Ghana, you can hardly get it wrong and you stand a chance to breakeven within record time.
More Business ideas and Investment Opportunities in Ghana
51. Waste management
Although there are a number of waste management companies in Ghana as of present, the country is still battling with more burden of filth than these companies can handle. To worsen matters, many Ghanaians are still in the habit of throwing refuse into drainages. You can make cool money in Ghana if you start a waste management business that offers to help people handle their wastes and refuse.
52. Herbal medicine
Ghanaians are now realizing the fact that not only orthodox medicine is effective in combating various ailments. There is increasing demand for herbal medications, and this has made herbal medicine more popular in Ghana. The good news is that almost all the medicinal plants that are used to handle various ailments can be found in Ghana.
So, Ghana is a fertile ground for flagging off a business that sells herbal medicine. If you go into this business, you will most likely get quick returns because herbal medicine is cheaper than orthodox medicine.
Food is one of the basic needs of man and anyone that ventures into food production is sure of a never ending demand. The steady growth of Ghana’s population due to influx of investors, students, tourist, etc will only help explode the demand for food.
Ghana has soils that can support a vast variety of food crops. And yet, the agricultural sector is one of the most underutilized in the country. The Ghanaian government hasn’t done enough to explore the sector, which comprises only a few private companies. One can liken the agricultural industry in Ghana to a gold mine, as there’s always a high demand for agricultural produce.
54. Oil and gas
Following the discovery of oil in Ghana, the country is set to join the list of petroleum exporting countries. This oil sector, still very young in Ghana, is presently begging to be explored extensively. And there’s almost no limit to the profit that players in this sector can make. Though starting an oil and gas business could be very expensive, you can venture into it if you have what it takes.
Internet access in Ghana is still very scarce and the few internet facilities available are far below average. Ghanaians are presently craving high quality internet services in their homes and offices. And they have no problems paying for such — provided the quality is kept consistent. So, the ICT sector in Ghana is still underexplored, and you can make huge profits by launching a business that provides quality internet services.
56. Food production
Because Ghana is home to many agricultural food products, it offers the much-needed raw materials for food processing companies. And due to the fact that food is always in high demand, starting a food processing business in Ghana is a smart and lucrative move. Better yet, you can start on a smaller scale by launching a small business or restaurant that sells foods and snacks. This business is one of the easiest to start, and it’s very profitable, too.
57. Transport services
Aside food, transport from one place to another is another necessity. And the reality in Ghana agrees with this. So, if you are planning to start a business in Ghana, but you are yet to find a promising opportunity, the transport sector is an option. You can start a business that renders transport services, either on a small scale with few vehicles that ply short routes or on a large scale with many large vehicles that ply long routes.
58. Real estate
Though an expensive sector to break into, the real estate business in Ghana is, as is the case in most countries, very lucrative. Following the discovery of oil in the Western part of Ghana, the nucleus of development and industrialization is gradually shifting towards the region. So, you will probably make more money as a real estate investor if you focus on the oil-rich region.
There are many business opportunities in Ghana, and more people are getting to realize this with each passing day. This has led many business-minded Ghanaians (and foreigners, too) into various small businesses.
However, many small businesses are yet to launch and many existing ones are yet to expand — both due to lack of funds. Therefore, there is high demand for microfinance services. If you have a background in banking, especially microfinance banking, you’ll make money and at the same time help develop many small businesses.
This is another big industry in Ghana. Every year, the country plays host to many foreigners who come to behold the various tourist attractions in the country. The tourism industry in Ghana is another sector you can start a business in if you want huge gains in the long term. One glad fact about this business opportunity is that even foreigners can launch it easily.