UNDERSTANDING THE FREE ZONES ACT
The GFZA was established on 31st August, 1995 by an Act of Parliament to enable the establishment of free zones in Ghana for the promotion of economic development; to provide for the regulation of activities in free zones and for related purposes.
The global trend of investing in export processing/industrial zones has caught up with Africa as a whole and Ghana specifically. Africa is also being acknowledged as the new frontier for trade and investment. With Ghana’s position as the gateway to West Africa, investors can expand their businesses to new and emerging locations.
By the enactment of the Free Zone Act, investors are being offered elaborate fiscal, trade and investment incentives to encourage the production of goods and services primarily destined for export markets through the attraction and utilization of Foreign Direct Investment and increasing the role of the local private sector.
Ghana’s Free Zones Scheme is designed to promote processing and manufacturing of goods through the establishment of Export Processing Zones (EPZs) and encouraging the development of commercial and service activities at sea- and air-port areas. The scheme combines both the enclave and single factory enterprise schemes; therefore the whole of Ghana is accessible to potential investors. The main aim of the Scheme therefore is to open Ghana up to potential investors who can utilize the Free Zones as a base to produce goods and services mainly for export. At least 70% of the annual production of goods and services of Free Zone enterprises must be exported; consequently up to 30% of the annual production of goods and services of the Free Zone enterprises are authorized for sale in the local market ,upon the payment of all applicable duties and taxes that may be determined by GRA ( Customs Division ). The GFZA is the government agency responsible for the implementation and administration of the Free Zones Scheme in Ghana. Its role is to facilitate, regulate and monitor activities within the free zones.
The current Management is determined to lead the GFZA into a new era with a firm commitment to the vision and mission of the GFZA to provide a favorable environment for investors. In our journey to become a relevant player, our management structure has evolved to sharpen our focus on the needs of the investor and satisfy those needs with greater speed and effectiveness.
The Ghana Free Zones Scheme is attracting investors looking for the ideal destination in West Africa and a premier location for labour intensive investments. Whether you are looking for the right location, expanding into new markets or looking for unexplored opportunities the GFZA can assist. We support companies to make the most of every opportunity that Ghana offers, from the generous incentives to the abundant and easily trainable labour force.
Investors in the Ghana Free Zones Scheme benefit from the ease of doing business, a progressive government committed to the development of the private sector, relatively developed infrastructure and a competitive labour cost. It is our firm resolve to offer the most favorable business environment for a mutually beneficial operation in Ghana.
I take this opportunity to reiterate our commitment to continually aspire to providing excellent services, improved infrastructure within the designated free zones and professionalism in dealing with our clients and potential investors.
Investors are invited to come to Ghana and explore the opportunities available under the free zones scheme and utilise our easily trainable and abundant labour force as a source of competitive advantage to develop larger markets for your goods and services. The GFZA is ready to partner you to make your location in Ghana profitable.
Download a copy of the Ghana Free Zones Act Here
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