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The GFZA is Committed to Achieving More Exports Beyond the Horizon into Africa (AfCFTA) and the Rest of the World.

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The Ghana Free Zones Authority (GFZA) was established on 31st August, 1995.

— Proven Experience

Ghana Free Zones Authority regulates over 190 active businesses which generated a combined production value of $1.49 Billion and a combined export value of $1.94 Billion in the year 2021.

Steps To Begin

You are invited to come to Ghana to utilize our effective & abundant labor force as a source of competitive advantage as you explore and develop larger markets for your goods and services.

Over 26,000 investors have applied for a GFZA License.

Priority Areas

Agro Processing

The agro-food processing sector also has vast opportunities for investors…

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Oil & Gas

The sector has many opportunities for companies in the oil and gas space…

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Floriculture

Opportunities exist for the exportation of cut tropical flowers for export…

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Textile/Apparel
Manufacturing

Ghana has benefited from the African Growth and Opportunity Act (AGOA) initiative…

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Information and Communication Technology

The focus of this sector is in Business Process Outsourcing, where back-office…

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Metal
Fabrication

The metal fabrication sub-sector is one of the sectors with significant growth potentials…

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Pharmaceuticals

The current trend for low-cost and effective drugs creates an excellent opportunity…

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Jewelry Production

The jewelry sector is one of the potential areas for investment. Ghana’s position…

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Ethnic Beauty Products

The ethnic beauty products industry is moving into the phase of a viable exporter to…

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Light Industry &
Assembling Plant

The economy of Ghana is developing, and the emphasis on small-scale agriculture is shifting…

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Seafood
Processing

The seafood processing sub-sector is emerging as one of the attractive sectors for investment…

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Some Government Agencies We Work With

As a government agency, we work with all government agencies in Ghana. Below are some of the agencies we work with the most.

Country Statistics

Country Statistics

2021-2022

Featured Enterprises

Over 26,000 investors have applied for a GFZA License. These are some of our featured enterprises dominating the industry with a GFZA License.

Unique Advantages You Only Get From The Free Zones Authority

The unique advantage Ghana possesses coupled with the generous incentives and the efficient services provided by the GFZA makes the business environment more than ready to provide maximum returns on investment.

Stable Democratic Climate
Ease of Doing Business
Accessibility
Competitive & Educated Work Force
Strong Resource Pool
World Ranking

Investment Advisory Team

We'd love to have a chat with you, discuss any investment questions you may have and offer rich, quality and professional advice on the matter.

Incentives

To attract investors into the Free Zones Scheme and to create a viable and sustainable business environment, the GFZA offers extensive and generous incentives to potential investors interested in developing and operating free zone enclaves and single-factory free zones in Ghana.

Incentives

Monetary Incentives

The monetary incentives offered include;

100% exemption from payment of direct and indirect duties and levies on all imports for production and exports from free zones.

100% exemption from payment of income tax on profits for 10 years which will not exceed 15 per cent thereafter.

Total exemption from payment of withholding taxes from dividends arising out of Free Zones investments.

Relief from double taxation for foreign investors and employees where Ghana has a double taxation agreement with the country of the investors or employees.

Incentives

Non-Monetary Incentives

The non-monetary incentives offered include;

No import licensing requirements and minimal customs formalities. Also, Free Zones investments are also guaranteed against nationalization and expropriation.

100% ownership of shares by any investor – foreign or national – in a Free Zones Enterprise is allowed. Also, Free Zones Investors are permitted to operate foreign currency accounts with banks in Ghana.

There are no conditions or restrictions on repatriation of dividends or net profit; payments for foreign loan servicing; payments of fees and charges for technology transfer agreements and remittance of proceeds from sale of any interest in a Free Zones investment.

At least 70% of annual production of goods and services of Free Zones Enterprises must be exported; consequently up to 30% of annual production of goods and services of a free zone enterprise are authorized for sale in the local market.

Happy Investors Since 1995.

26,000

Over 26,000 investors have applied for a GFZA License. These are testimonials from some of our treasured enterprises dominating the industry.

Testimonials

Schedule An Appointment

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Ghana's Population Statistics

Ghana Population (as of 3/29/2022)32,224,840
Next UN Estimate (July 1, 2022)32,395,450
Births per Day2,464
Deaths per Day622
Migrations per Day-27
Net Change per Day1,815
Population Change Since Jan. 1159,720
  • Net increase of 1 person every 48 seconds

Source: World Population Review

According to current projections, Ghana’s population will continue to grow the rest of the century, reaching 78.71 million people in 2099. This means that Ghana will more than double its current population of 31.07 million people over the next 80 years.

Ghana is currently growing at a rate of 2.15% per year, which has slowly decreased from 2.95% in 1985 but still remains high. The main cause of this growth is Ghana’s high fertility rate of 3.89 births per woman and the country’s efforts to minimize birth mortalities.

Ghana's FDI Statistics (Billion USD)

Ghana's FDI (2020) - 1.85 Billion USD

Ghana's Export Statistics (Billion USD)

Ghana's Export (2020) - 22.35 Billion USD

Ghana's GDP Statistics (Billion USD)

Ghana's GDP (2020) - 72.35 Billion USD

Speak To Us

Investment Advisory Team

Mrs Kate Abbeo
Deputy CEO, Finance & Admin

Mr John Abuga
Director, Compliance and Monitoring

Mrs Patience Acorlor
Director, Tema Administration Office

Mr Jesse Agyepong
Director, Corporate Affairs, Marketing & Business Development

Hajia Hanatu Abubakar
Dep. Director, Takoradi Regional Office.

Mr Ricky Osei Owusu
Regional Manager, Kumasi Office

Mr Kingsford Kwaku Jagre
Senior Officer, Business Development and Research

Ms Lydia Atta-Saow
Senior Officer – Applications Processing Unit

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Investor Pack

For investments to be eligible under the Free Zones Scheme, the investment should satisfy the following conditions:

- Should be a limited liability company registered with the Registrar Generals’ Department.
- Should be export-oriented.
- Should add some value to products/services to be exported.
- Should be environmentally friendly.

Brochure

GFZA Brochure

Discover elegant details about the GZFA and everything it entails.

Priority

Licensing & Registration

Find out about the requirements to register for a Free Zones License.

Guideline

Cost Of Doing Business

Find out the cost of doing business in Ghana. (March 2021 Update)

Got A Question?

The Ghana Free Zones Authority promotes investment through the provision of a conducive business environment and attractive incentives.

The GFZA Head Office is located at 5th Link Road East Cantonment, close to NAFTI Hostel, near American Embassy in Accra. Other Free Zone enclaves are located in Tema, Kumasi, and Takoradi.

Yes.  A free zones company in Ghana can be 100% foreign owned, 100% Ghanaian owned or investors from different countries coming together to form a company or a joint venture between a Ghanaian and a foreigner.

Yes.  Ghanaians qualify to be in the free zones only if they can export at least 70% of their products.

Free Zone investors do not require any minimum capital investment. However,  an investor should be able to show evidence of funding and investors must indicate their ability to fulfill the minimum 70% export requirement.

Investors are required to go through the following application procedure to obtain a Free Zone license:

a. Incorporate a company in Ghana with the Registrar General’s Department

b. Obtain and complete the GFZA Application Form (US$ 100) and submit with the following;

i. Business Plan

ii. Copy of Certificate of Incorporation

iii. Copy of Certificate to Commence Business

iv. Copy of Company’s code

v. Evidence of possession/lease of real property or intent to acquire such property

vi. MOU with potential clients

vii. Environmental Protection Agency Permit

viii. Evidence of Funding/Capital Transfer

ix. Any other relevant document

c.   After completing the application and submitting it with all the necessary and required documents, and upon receipt, GFZA will notify the prospective investor of the status of his/her application for license within 28 working days.

No, Free Zones companies are subject to the same labor laws as any other company in Ghana. They enjoy the same rights and privileges as non-free zone companies.

Ghana Free Zones Authority is a public agency under the Ministry of Trade and Industry.

After completing the application and submitting it with all the necessary and required documents, and upon receipt, GFZA will notify the prospective investor of the status of his/her application for a license within 28 working days.

There are monetary and non-monetary incentives. The monetary incentives offered include:

a. 100% exemption from payment of direct and indirect duties and levies on all imports for production and exports from free zones.

b. 100% exemption from payment of income tax on profits for 10 years which will not exceed 8% thereafter.

c. Total exemption from payment of withholding taxes from dividends arising out of free zone investment.

d. Relief from double taxation for foreign investors and employees where Ghana has a double taxation agreement with the country of the investors or employees.

Non-monetary incentives include:

a.  No import licensing requirements.

b. Minimal customs formalities.

c. 100% ownership of shares by any investor – foreign or national in a free zone enterprise is allowed

d. There are no conditions or restrictions on repatriation of dividends or net profit, payments for foreign loan servicing, payments of fees and charges for technology transfer agreements and remittance of proceeds from sale of any interest in a free zone investment.

e. Free Zone investors are permitted to operate foreign currency accounts with banks in Ghana.

f. At least 70% of annual production of goods and services of Free Zone Enterprises must be exported, consequently up to 30% of annual production of goods and services of a free zone enterprise are authorized for sale in the local market.

g. Free Zone investments are also guaranteed against nationalization and expropriation.

The following priority sectors have been identified by the Board based on the comparative advantages of the country. These sectors are however not exclusive. Investors can invest in any other sector of their choice with exception of plastic manufacturing, Timber related activities and enterprises engaged in the exploration of extraction of precious metals, gas and crude oil.

a. Agro Food Processing (Fruits, vegetables and coca)

b. Information & Communication Technology (Data processing and transcription, call centers, software development and computer assembling)

c. Textile/Apparel manufacturing (including accessories for garment industry and footwear)

d. Sea Food Processing

e. Jewelry/Handicraft Production

f. Light Industry/Assembling Plant

g. Metal Fabrication

h. Floriculture

Developer License

a. A Developer’s license fee of US$5,000.00 or its equivalent in Ghana Cedis is charged by the GFZA in the first instance and a renewal fee of US$4,000.00 or its equivalent in Ghana Cedis is paid annually by the Developer.

Enterprise License

b. Investors wishing to set up enterprises (for Manufacturing , Commercial or Services activities) will need to obtain the relevant Enterprise License:

c. An Enterprise fee of :

i. US$3,000.00 for Manufacturing

ii. US$4,000.00 for Service

iii. US$10,000.00 for Commercial

or its equivalent in Ghana Cedi is charged by the GFZA in the first instance and a renewal fee of:

i. US$2,500.00 for Manufacturing

ii. US$3,000.00 for Service

iii. US$5,000.00 for Commercial

or its equivalent in Ghana Cedi is paid annually by the Enterprise Operator.

This is allowed only if the said skill that is being brought to Ghana is proven not to be available in Ghana.

Yes, Free Zones companies pay property tax.

The Ghana Frees Zones Authority has been in existence since  1995 by an Act of Parliament, Act  504 LI 1618. The Act was passed in September 1995 and the Secretariat commenced operation in August 1996.

Export Processing Zones

Tema Export Processing Zones

The Tema Export Processing Zones is located in Tema, Ghana’s major residential and industrial city. Tema has the largest seaport in Ghana and is located about 24 kilometres from the international airport in Accra. Tema is also one of Ghana’s fastest growing cities with well-developed infrastructure. There are many industries located in the Tema industrial area where there is also a concentration of skilled labour. Well planned and managed residential communities compliment Tema’s industrial complex.

The Tema EPZ, with a total area of 1,200 acres (480 hectares), offers investors a favourable and conducive environment for manufacturing, service and commercial export activities. Business Processing is facilitated by the deliberate convergence of all front line export/investment promotion institutions such as Customs Excise and Preventive Service, Police, Immigration,Environmental Protection Agency, Internal Revenue Service and so forth into a one-stop-shop. A range of property options including factory shells, office space and land parcels serviced with good quality roads,drains, water and electricity connections and dependable sewerage system are readily available for use by prospective investors and new business start-ups.

The Tema EPZ is well serviced with the following off site facilities:

- A dedicated electrical power grid.
- Large water reservoir constructed to ensure the constant supply of water.
- Central Sewerage System.
- Telecommunication Services.
- Security enclosures.

Tema’s Free Zone enclave is also linked to the airport and seaport by a first class road network. It is largely developed into a multipurpose industrial park to enable non-free zone investors to have access to the industrial site and superior services so as to boost their productive capacities.

Ashanti Technology Park

The Ashanti Technology Park (ATP) located at Boankra in the Ashanti Region. It is adjacent to the Ghana proposed inland Port. It occupies a total of area of 1099 acres/444.75 hectares. The proposed railway line from Accra to Kumasi traverses the Ashanti technology park. The industrial sectors specially earmarked for this up-coming zone includes:

- ICT Cyber village
- Cocoa Processing
- Light Industrial manufacturing
- Heavy Industrial manufacturing
- Warehousing and Logistics Services
- Social Services Centre
- Bio-Technology Development

The Ashanti Technology Park is 20.7km (13miles) to Kumasi, the capital of Ashanti Region. Kumasi has an airport. Flight time between Kumasi and Accra is thirty (30) minutes and the distance by road to Kumasi is 252.5km.

Sekondi Export Processing Zones

The Sekondi industrial park is located at Sekondi-Takoradi, Ghana’s second port city.

The industrial park covers a total area of 2200acres (890.30 hectares). It is earmarked for heavy and light industries as well as warehousing.

The western railway line to the Takoradi port runs through the Sekondi industrial park. The Sekondi industrial park also boasts of the supply of natural gas terminal from the Ghana gas factory at Atuabo for use by prospective investors. Sekondi Takoradi has an airport with regular flights from Accra. Flights time between Sekondi Takoradi and Accra is thirty (30) minutes. Distance by road is 228.2km.

Shama Export Processing Zones

The Yabiw/Shama Industrial Park is located at the Shama district in the Western Region. The total land size of the Industrial Park is 2800acres (1133.12 hectares).

It is earmarked for downstream Oil & Gas activities. A portion of the Yabiw/Shama Industrial Park borders the sea making it ideal for development of a jetty or mini port to link the main Takoradi port which is about 2.1km away.

Some Wholly Multinational Free Zones Enterprises

Blue Skies Products Asanska Jewellry Ltd
Cargil Ghana Ltd Niche Cocoa Industry Ltd
Barry Calleabaut Gh Ltd Praise Export Services Ltd
Usibras Ghana Ltd Koranco Farms Ltd
L’oreal West Africa Ernimich Ltd
Dufry & Gtdc Ltd Global Garment
E-Process International Sa Home Foods Processing And Cannery Ltd
Rebecca Fashion Manufacturing Ghana Entrance Pharmacueticals & Research Center
Red Sea Housing Services Gh Ltd Samgladwin Company Ltd
Newrest Ghana Ltd Jei River Farms Ltd
Mim Cashew & Agricultural Products Ltd Corona Plastics Industries Ltd
Comet Ghana Ltd Flemingo International Ltd

GFZA Licensing & Registration

For investments to be eligible under the Free Zones Scheme, the investment should satisfy the following conditions:

  • Should be a limited liability company registered with the Registrar Generals’ Department.
  • Should be export-oriented.
  • Should add some value to products/services to be exported.
  • Should be environmentally friendly.


Requirements

Free zone investors do not require any minimum capital investment. However, investors must indicate their ability to fulfill the minimum 70% export requirement. New investors are required to go through the following steps to obtain a free zone license: Incorporate a company in Ghana with the Registrar General’s Department and obtain Certificates of Incorporation and company’s constitution and these must be submitted together with the following documents;

  • Duly completed GFZA Application Form Purchased at ($200).
  • Business Plan/Feasibility Study.
  • Evidence of lease or Rental of Land / Factory Premises.
  • Evidence of Export (Memorandum of Understanding/ Letter of Intent with prospective clients).
  • Environmental Protection Agency Permit (where applicable).
  • Evidence of Funding/Capital Transfer.
  • Any other document/ Information the Authority may require.
If you are an existing business, you would need the following documents;
  • 3 Year Audit Report.
  • SSNIT Clearance Certificate.
  • GRA Clearance Certificate.

The GFZA shall notify the applicant of the status of his/her application for License within 28 working days of receipt of a complete application. A license specifying Authorized activity to be undertaken (i.e. Developer, Manufacturer, Commercial or Service Industry) by the applicant shall be issued to the successful applicant. The investor is required to start operations within 6 months of receiving approval to operate as a Free Zone Enterprise/Developer.

An initial/renewal license fee shall be paid as follows:

Activity Initial Fees Annual Renewal Fee
Developer US $5,000 US $4,000
Manufacturing US $3,000 US $2,500
Service US $4,000 US $3,000
Commercial US $10,000 US $5,000

Unique Advantages You Only Get From The Free Zones Authority

  Stable Democratic Climate

  • A stable political environment within the West African sub region, with  established democratic institutions and systems to ensure good governance of the country.
  • A truly hospitable people.
  • High degree of personal safety.
  • Beacon of democratic development, peace and rule of law in West Africa (BTI 2020 Ghana Country Report).

 

Ease of Doing Business

  • No restrictions on issuance of work and residence permits to free zone investors and employees.
  • Well-designed policy to decentralize industry development in districts under Government’s Industrialization agenda.
  • Operation of a one-stop-shop for Free Zones Investors (Immigration, Vehicle Registration, Tax Exemption Processing, Aftercare and Advocacy).

 

Accessibility

  • Excellent sea and air connections with Europe and USA.
  • Strategic and central location within West Africa provides access to the ECOWAS market with an estimated population of 400million.
  • With the headquarter of the African Continental Free Trade Agreement (AfCFTA) in Accra, Ghana has become the Commercial capital of Africa with access to an estimated 1.2 billion People.
  • Geographically situated as one of the largest airports in Africa and adjudged the best airport in West Africa and 4th best in the World by the Airport Council International (ACI) Africa.
  • The Tema port is one of the largest indigenous ports in West Africa (The port has been enhanced to handle an estimated 4million Twenty- foot Equivalent Unit- TEUs).
  • Duty free access to selected manufactured products to USA under the African Growth and Opportunity Act (AGOA) and European Union markets under the Economic Partnership Agreements (EPA).

 

Competitive and Educated Labour Force

  • Abundant, adaptable and easily trainable labour force.
  • A competitive daily minimum wage rate.
  • The country’s literacy rate for 2018 was 04%, a 7.54% increase from 2010. (World Bank Ghana Literacy Rating-2018). With the introduction of Free Senior High School (FSHS), the youth now have access to quality skill development and are better equipped for work.
  • Ghana has a young age structure, with a 34.27% of fairly young people between the ages of 25-54. (CIA World Factbook, 2020).

 

Strong Resource Pool

  • A comparatively well-developed infrastructure i.e. internal road network, reliable power and water supplies, internal and external communications as well as sea and airport facilities.
  • An already existing industrial base ranging from heavy engineering to precision industries, electronics, agro processing, plastics and metal work, clothing and textiles, jewellery and wood processing.
  • Availability of a stock exchange as well as other bank and non-banking financial institutions.

 

World Rankings

  • 9th Wealthiest African country ranked by Gross Domestic Product (GDP) and Primary Exports (World Bank and African Development Bank Economic Outlook -2020).
  • Fastest growing Economy (International Monetary Fund World Economic Outlook- 2019).
  • Second best performing West African country (World Bank Ease of Doing Business- 2019).

Budget Deficit

Accra, 18th November, 2021 – On 17th November 2021, the Hon. Minister for Finance presented the 2022 Budget Statement and Economic Policy of Government to the Parliament of Ghana.

The Statement highlighted the positive developments Government had achieved despite the challenges arising from the COVID-19 pandemic, global inflation and general financing conditions.

As part of the feedback from the presentation, the Ministry has noted with concern that the overall fiscal balance (the budget deficit) as a percentage of GDP is being misrepresented. Some section of the public are alleging that the projected budget deficit for 2021 has increased from 9.4% of GDP to 12.1% in the 2022 Budget.

To set the records straight, this is inaccurate.  The fiscal deficit of 9.4% of GDP EXCLUDES finsec clean-up costs and energy sector IPP payments whiles the 12.1% refers to the fiscal deficit INCLUDING the finsec clean-up costs and energy sector IPP payments.

It is insightful to note that since 2017, the fiscal operations of Ghana have been presented with financial clean-up costs as a memo item and energy sector IPP payments as part of amortisation as these items were regarded as one-off obligations. 

Thus, the overall fiscal balance reported from 2017 to 2021 excluded the finsec clean-up costs and the energy sector IPP payments. Given that the finsec payments are almost complete and the energy IPP payments are still being honoured, the Ministry of Finance decided to report both payments “above the line” from the 2022 financial years. 

The 2022 Budget, therefore, shows the overall fiscal balance including finsec and IPP payments as well as the overall fiscal balance excluding finsec and payments to foster comparison. Same treatment is done for the primary balance.

The 2022 Budget (Page 220) therefore makes reference to a projected overall fiscal balance on cash basis (excluding finsec and IPP payments) of -9.4% of GDP for 2021. For the period Jan-Sept 2021, the overall fiscal balance on cash basis (excluding finsec and IPP payments) was 7.7% against a target of -7.4%.

The 2022 Budget (Page 220) also reports the overall fiscal balance on cash basis (including finsec and IPP payments). The projected outturn for the overall fiscal balance increases to 12.1% of GDP when the finsec clean-up costs and energy sector IPP payments are included. For the period Jan-Sept 2021, the overall fiscal balance is -9.3% of GDP against a target of -9.9%.

We call on the public to seek clarifications on the Budget from the Ministry of Finance when the need arises rather than misinterpreting information from the Budget.

Payroll & Tax

Source: Active Payroll

Ghana is a West African country that shares land borders with the Ivory Coast to the west, Burkina Faso to the north, and Togo to the east, while its southern shores meet the Atlantic Ocean and the Gulf of Guinea.

Prior to the 20th century, Ghana’s economy was primarily reliant on agriculture with coffee and cacao becoming major contributors to its financial profile.

In the 20th century, Ghana began to exploit rich natural resources such as minerals, hydrocarbons, and precious metals including diamonds, manganese, and gold.

Modern Ghana has industrialized and diversified its economy and important industrial sectors include agriculture, mining and lumber, energy production, telecommunications, and tourism.

Ghana is Africa’s second largest exporter of cocoa and gold but major exports also include oil, precious metals, and timber – while major imports include refined petroleum and foodstuffs.

A developing country, Ghana is working to accelerate its economic growth with initiatives such as Ghana: Vision 2020 which aims to stimulate business, reduce poverty, and raise living standards across the country through rapid industrialization and private investment.

Those efforts have had a positive effect: in 2019 Ghana reached an estimated GDP of $67 billion with 6.1% growth. Ghana is a member of the African Union, the Non-Aligned Movement, G24 and the Commonwealth of Nations and was ranked 118 on the World Bank’s Ease of Doing Business Survey 2019.

Why Invest in Ghana?

Ghana has attracted the attention of international businesses investing in all sectors of the economy. The main sectors of investment within Ghana include agricultural and agro-processing sectors.

The financial services and telecommunications sectors are growing rapidly. Further opportunities exist in manufacturing, ICT, tourism, gold, diamonds, and oil and gas.

Registering a Company and Establishing an Entity in Ghana

A company is not required to have a legal entity established in Ghana in order to process payroll. However, should you want to establish a legal entity in the country, the following steps must be taken:

  • The availability of the company name should be checked and the appropriate documents should be submitted to obtain an incorporation certificate. Form A should be completed – this document requires the name of the company, nature of the business, names of subscribers and shareholders, their addresses, occupation, directorships in any other company, full names of directors, full name and address of the company secretary and auditors, the number of shares and the stated capital. After the forms are filed, necessary fees paid and certificate issued by the Registrar-General Department, the Ghana Revenue Authority will issue a tax identification number for both the company and the employees of the company.

  • The company must obtain a Tax Identification Number (TIN) from the Registrar- General Department or Ghana Revenue Authority before proceeding to company registration.

  • A Commissioner of Oaths authenticates the forms required for the certificate to commence business. (1 day); Form 4 must be completed to issue the certificate.

  • Obtain the certificate to commence business from the Registrar-General’s Department. (2 days)
  • The following documents must be presented to deposit paid-in capital in a bank account: copy of company regulations, certificate of incorporation, certificate to commence business, and signatures of the authorized company representatives. (1 day)

  • A business license should be obtained from the Metropolitan Authority. (7 days)

  • The Metropolitan Authority shall inspect the work premises. (1 day)

  • The company must apply for social security (1 day). To apply for social security, the company must attach a list of employees, their respective salaries and social security numbers, the company’s certificate of incorporation and certificate to commence business, company regulations, Tax Identification Number, Profile of Directors or Local Managers, copies of Directors or Local Manager valid ID.

  • Obtain an environmental certificate the Environmental Protection Agency (EPA). (25 days)

  • To apply for social security, the company must attach the list of employees, their respective salary, social security number, the company certificate of incorporation and certificate to commence business.

To process companies’ payroll, the firm will need formal registration of business at Registrar-General’s department and thereafter at the Ghana Revenue Authority.

The documents required for registration with the tax authority are:

  • Certificate of Incorporation
  • Certificate to commence business
  • Company’s Regulation

A unique computer generated Tax Identification Number (TIN) is given to tax payers for all official transactions.

Business Banking in Ghana

It is not mandatory to make payments to employees or the authorities from an in-country bank account. Generally, banks are open to the public from 8.30AM to 4.00PM Monday to Friday. Some banks are open on a Saturday from 8:00AM to 1:00PM.

Working Week and Working Hours in Ghana

The working week in Ghana is Monday to Friday.

The working day for commercial offices is usually 8:00AM to 5:00PM. Lunch breaks are usually one hour. Some offices and shops will be open from 8.00AM to 1.00PM on Saturdays. Government offices will not be operational before 9.00AM.

Ghana's Inflation Rate

Source: Bloomberg

Ghana’s inflation rate increased to the highest in more than four years in November, exceeding the central bank’s target band for a third straight month as food and transport costs climbed.

Annual inflation accelerated to 12.2% from 11% in October, Government Statistician Samuel Kobina Annim told reporters Wednesday in Accra, the capital. That’s the highest level since August 2017.

The median estimate of five economists in a Bloomberg survey was 11.2%. Prices climbed 1.4% in the month. Read More...