Ghana

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Welcome!

This is your virtual country space to connect, engage, learn and explore everything that is important to help you grow your business beyond borders. Your views are important! Share a post, participate in discussions, and speak-up in our polls - tell us about the tools, resources and connections that will help you.

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Welcome to the Ghana Country Space on JamiiTrade, where you can connect with fellow entrepreneurs or companies from across Africa who are interested in doing business with Ghanaian entrepreneurs.

You are also able to explore practical how-to information and useful tips (Insights) for entrepreneurs, start-ups and SMEs on doing business in the country. Whether it is how to register a company or getting your products ready for export, we aim to provide you with all the information at your fingertips (or help find the answers for you if we don't).

Become an active community member by connecting with fellow country Jamii-ers, sharing your own experiences to help others learn, participating in discussions or starting a new one. Your views are important in helping us make this country space relevant to you.

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Bank of Ghana Clarifies Roles of FinTechs and MTOs in Remittance Process.

The Bank of Ghana has clarified that local FinTech companies authorized by the Central Bank do not directly mobilize foreign exchange from abroad. Instead, this responsibility lies with Money Transfer Operators- MTOs located overseas, which handle the receipt of remittances. The funds received by MTOs are deposited into the nostro accounts (a bank account that a domestic bank holds in a foreign bank, denominated in the foreign bank's local currency) of local partner banks, and Fintechs manage the downstream process of payments to beneficiaries within Ghana.

Recent concerns suggested that FinTechs were holding onto foreign exchange abroad, with claims that around $12 billion in remittances to Ghana between 2018 and 2022 went untracked. The BoG refuted these assertions, particularly dismissing reports that $8 billion had been withheld by newly licensed MTOs and 11 FinTech companies over the past two years. Discrepancies between the World Bank’s remittance tracking figures and the Auditor General’s recorded amounts further fueled public confusion.

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Join us in welcoming Samuel Tettey Amanor, CEO of BlueSPACE Africa Technologies, Ghana, to the APN Interoperability Symposium under the theme: 'Scaling up Interoperability: Using Mobile to Buy & Sell Across Africa'.

Samuel Amanor is a visionary leader in Africa's digital payments and fintech landscape. Key milestones include Founder & CEO of BlueSPACE Africa Technologies, driving fintech innovation across the continent; Pioneered the Single Africa Payments Area (SAPA) initiative; VP of Funding & Partnerships at Ghana Fintech and Payments Association; Co-founder of Ghana Innovation Hub, nurturing early-stage tech companies; Managing system integration partner for global fintech giants in sub-Saharan Africa; and Former CEO for EMC and Dell in Ghana, leading digital transformation efforts.

Don't miss this opportunity to gain insights from one of Africa's foremost fintech leaders.

Here is a step-by-step guide on how to register a company in Ghana:

a) Choose a unique company name

  • Conduct a name search at the Registrar General’s Department (RGD) to ensure your desired name is available
  • Reserve the name for 30 days by paying the applicable fee

b) Obtain Tax Identification Numbers (TINs)

  • All company directors, shareholders and the secretary must register for a TIN
  • Individuals can use their Ghana Card PIN as their TIN starting April 1, 2021
  • Organisations apply for a TIN using the prescribed form

c) Complete the company registration forms

  • Forms can be purchased at the RGD or downloaded from their website
  • Required forms include:
  • Form 3 - Return of Particulars of Company
  • Form 4 - Details of Directors and Secretary
  • Regulations of the Company
  • Provide auditor’s consent letter, company address, stated capital, and shareholder details

d) Pay the required fees

  • Stamp duty of 0.5% on stated capital
  • Registration filing fees (currently GHS 450)
  • Payment is made at the in-house bank at the RGD

e) Submit all documents to the RGD

  • Forms are verified and captured at the RGD
  • If all requirements are met, the company is registered within 3-4 weeks

e) Collect certificates and documents

  • Upon approval, the RGD issues:
  • Certificate of Incorporation
  • Certificate to Commence Business
  • Certified copies of Forms 3 & 4 and Company Regulations

f) Complete other regulatory requirements

  • Register for SSNIT[5]
  • Register with Ghana Investment Promotion Centre (GIPC) if foreign-owned

Useful links for more information:

The registration process requires careful adherence to requirements and procedures. Consulting with legal professionals can help ensure a smooth and compliant company incorporation in Ghana.

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As a small or medium enterprise (SME) in Ghana looking to export goods or services, you need to obtain the proper licenses and permits to ensure compliance with local and international regulations. Here are the key licenses and permits required:

Business Registration

Before exporting, you must register your business with the Registrar General’s Department and obtain the necessary operating licenses based on your industry.

Tax Identification Number (TIN)

Register with the Ghana Revenue Authority to get a unique TIN, which is required for export documentation.

Export License

Apply for an export license from the Ghana Export Promotion Authority (GEPA). This license allows you to legally export products from Ghana.

Export Permit

Certain products like food items, plants, animals, and chemicals require specific export permits from relevant authorities:

  • Food products: Food and Drugs Authority
  • Plants/plant products: Plant Protection and Regulatory Services Directorate
  • Animals/animal products: Veterinary Services Directorate
  • Chemicals: Environmental Protection Agency

Certificate of Origin

Obtain a Certificate of Origin from the Ghana National Chamber of Commerce to certify the nationality of your export goods.

ECOWAS Trade Liberalization Scheme (ETLS) Approval

If exporting within ECOWAS, apply for ETLS approval which allows duty-free and quota-free access.

Product Certification

Depending on your product, you may need certifications from international bodies like:

  • ISO certification for quality management systems
  • Halal or Kosher certification for food products
  • Organic certification for agricultural exports

Phytosanitary Certificate 

For exports of plants/plant products, a phytosanitary certificate issued by plant quarantine authorities is required.

The application process involves submitting forms, product samples, legal documents, and fees to the respective agencies. It’s advisable to start the process well in advance of your intended export date.

Additionally, research if your target export market has any specific requirements for product labeling, packaging or other standards that need to be met.

Regularly check for updates, as export regulations can change. Engaging a freight forwarder or customs broker can also help ensure you have all the necessary permits.

Useful links:

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As an entrepreneur in Ghana looking to start or grow an export business, there are several government programs and grants that can provide valuable funding support. Here are the key steps to access export-specific grants and subsidies in Ghana:

  1. Register your business: Your company must first register with the appropriate authorities before applying for any grants. This involves filing an incorporation certificate with the Registrar General’s Department and registering with the Ghana Revenue Authority to obtain a Tax Identification Number (TIN).
  2. Obtain an exporter code: Apply for an exporter code from the Ghana Export Promotion Authority (GEPA). This unique identification number is required for subsequent applications and paperwork related to your export business.
  3. Register with GEPA: In addition to applying for specific export grants, businesses should register with the Ghana Export Promotion Authority. By registering, you can access various tools, initiatives and incentives the government offers to support Ghanaian exporters.
  4. Identify eligible export grant programs: Research the different government grant programs to determine which ones you may qualify for based on your export business. Some key programs to consider:
  • Export Development and Agricultural Investment Fund (EDAIF): Provides financial resources for the development and promotion of Ghana’s export trade
  • USAID West Africa Trade & Investment Hub: Offers co-investment grants up to $2 million for West African export businesses
  • Ghana Tourism Development Project Site Upgrade Grant: Grants for tourism-related businesses
  1. Prepare a strong business plan: Most grant programs require a detailed business plan as part of the application. Highlight how your export business aligns with the objectives of the specific grant.
  2. Complete the grant application: Provide all requested information in the grant application, including financial statements, legal documents, and product details. Submit the application according to the program guidelines and deadlines.
  3. Follow up and comply with requirements: After submitting your application, follow up with the grant provider to check the status. If approved, be sure to adhere to all reporting and compliance requirements of the grant.

In addition to government grants, Ghanaian export businesses can explore other funding options like bootstrapping, angel investors, and crowdfunding platforms. Staying informed about the latest export financing opportunities and trade agreements can help position your business for growth in international markets.

Useful links for more information:

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