Ghanaians are entrepreneurs by nature. It’s said the country imports raw materials and exports finished goods, but there are plenty of homegrown entrepreneurs who have succeeded. These Ghanaian successes in entrepreneurship contribute to the development of their communities and nation not just for themselves. Ghanaian entrepreneurs are important to the Ghanaian economy, and they affect many different industries. These entrepreneurs are important because of their contribution to the country, the way that they make a living, and the effect that they have on other businesses in their communities.
Let’s explore how entrepreneurs work in Ghana, including how many they are, what sectors they work in, and how entrepreneurship affects other business people in Ghanaian communities. It will also cover some basic facts about the country and its economy to put it all into perspective.
The population of Ghana is roughly about 32 million people. It is the second-most populous country in the Western African region. Adjudged as one of the fastest-growing economies in Africa, in 2013, the country’s gross domestic product (GDP) was estimated to be at about $34 billion, which is roughly equivalent to that of Turkey and Malaysia combined. Ghana’s economy has a lot of room for growth, and the government has taken steps to promote this growth. These include improving Ghana’s credit rating, removing taxes on the export of cocoa beans, and introducing youth entrepreneurship campaigns. In addition, Ghana has positive relations with other countries in Sub-Saharan Africa as well as with foreign countries like the United States. This is because Ghana is one of the 51 member countries of the African Union (AU), an organization that promotes economic integration between Africa nations.
Agriculture is one of the most important sources of income for Ghanaians. About 30% of Ghana’s total population is employed in agriculture, and industry accounts for about half of the country’s GDP. In 2013, Ghana produced about 1.4 million metric tons of cocoa beans, which brought in about $1 billion in revenue. Agriculture also accounts for about 6.7% of exports from Ghana, and it employs 34% of the country’s labor force. Cocoa bean plantations are mostly located in central Ghana.
Ghana is also a big producer of gold, bauxite, and manganese ore. Gold accounts for about 9% of exports from Ghana and brings in about $1 billion annually. Gold production is centered in the Ashanti Gold Belt area of central Ghana, where most of the country’s deposits of this mineral are found. Most gold is produced by small-scale miners who usually sell their goods to a local trader or at regional markets.
Ghana is the fourth-largest producer of manganese ore in Africa. This mineral accounts for 7% of exports from Ghana and brings in about $400 million annually. Manganese is found in northern Ghana, and most of it is produced by small-scale miners who sell their goods to middlemen or at regional markets.
Entrepreneurs in Ghana are successful business owners and professionals who are all motivated to help their country grow. As a young and dynamic entrepreneur from Ghana myself, I believe in the vision of making our country viable economically.