Ghana, Open for Business? (Big Companies Leave Ghana) Should you Still Invest Here?
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- Опубликовано: 16 май 2024
- We talk about the recent closing of several prominent international businesses and ask if they know something we don't. Is Ghana closed for those of us in the diaspora dreaming of entrepreneurship when we make our return? Comment and let us know what you think!
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I’m hearing that the level of corruption, and lack of protection from scammers is what’s killing Ghana’s economy.
I’ve been here over 3 years I am now leaving. Been packed for over a week waiting for my plane ✈️
It's not true. How can scammers weak economy? There are scammers all over the world and even scammers are more in the worthier nations than Ghana but their economies are not melting down. We should be more intellectual than this pettiness.
There are more corruption in the western countries but they don't make news of it but rather dealing with it. Let's Stop denigrating Africa to the world.
@@Thepassporttraveler…if you truly lived in Ghana, which part? What are your personal experiences that you can share? Do you think there’s another African country better than Ghana?
@@zerosumgame3722
You should really be jubilating that this woman is leaving.
Best news I heard all week. Should there be an award for complaining, she would win it hands down .Incase you don’t believe me, do well to check her out.
I can’t for the life of me understand all these people who decide to leave their so-called first world of their own accord to a developing country and go on to complain about everything .
The mind really boggles !
@@dennishughes721 - It's not as simple as that, and thanks for the comment 😊!
I am Ghanaian physician and I practice in the US and in Ghana. Most medications in Ghana are imported . There are no Government programs like in the US .People in Ghana are not surviving everyday illnesses because they cannot afford medication. Insulin for the treatment of type one diabetes is out of reach for the average Ghanaian. Medications that have to be taken daily and life long , are out of reach for the average person. Cancer is mostly untreatable ! These illnesses are just as prevalent in Ghana and the rates of cancer are just as high as in the West if not higher as most go undiagnosed and untreated and are diagnosed after death ! When people tout the fact that 70% of Ghana is under the age of 30 , they do not seem to realize that also means ONLY 30% are above the age of 30! That is not a good thing !
We have simply failed to govern ourselves
don't you find it strange that Africans getting cancer ? I think these afflictions come from the outside or came from the outside.
@@hizstory1813 very strange that Africans die... What do you think?
@@hizstory1813 ! Many products that are banned in Western countries, due to cancer causing properties are freely shipped to African countries mostly by the Chinese and others ! Pesticides , fertilizers , asbestos containing building materials . Many of the imported canned goods popular especially tomatoes contain large amounts of sugar !
I appreciate your honesty, if your not in perfect health it sounds like Ghana is not for you.
Ghana problem is the government is greedy by taking taxes and fee to do business there, but refuse to make the the infrastructure better.
Actually they are doing better , my only problem is they only focus on Accra making it look like Accra is the is the only city in Ghana. S3condly they refuse to build companies that will help the graduate get job after school only focusing on Politics
@@Akos885 What is the resolution?
Thank you for your comment!
@@Akos885 "Actually they are doing better". Better than who? An NPP person right there. Keep deceiving yourself with your tribal politics.
Ghana needs more local businesses, and the government needs to create a conducive environment for doing business.
Great comment - Thanks for adding to the conversation ❤️️💛💚!
We’re running a farm and purchasing land for like minded individuals into organic sustainable farming. Our biggest pet peeve is the unstable electricity. It’s just gotten worse over the last few months. Like holding us hostage for the elections. Not knowing when the electricity will shut off or come back because it does so without warning is incredibly stressful especially when you’re running a business. Ghana’s politicians, need to do better and stop stressing out its citizens & ruining businesses that add to the GDP! P.s.. even with the challenges as an AA in Ghana I won’t leave. Just help to make things better. ❤
Stop complaining and get solar.
@@TheChariot99 I was going to reply with almost the same. Majority percentage of profits from the farm MUST be set aside for infrastructure. My farm is in Aburi, and it is infrastructure first before getting serious crops done while I'm away. Water tanks too! Don't rely on rainy season.
You’re not in America. No one is coming to save you in Ghana but yourself. Save your money and buy solar and batteries and live your life. Joe Biden ain’t sending you solar money.
@@colint8259 in fact the first 2 years profit should be spent on infrastructure.
@@colint8259 I see too many AA’s in Ghana just complaining like they’re in America. You brought yourself to Africa so start acting like the Romans. There’s no light!
Our family lived in Ghana in 1989-90 in Osu and Kumasi.
I love y’all so much but please turn the music down or off
@@thebakery3509 - Noted. We have a new editor and this was his first assignment, and thanks for the comment 😊!
This man is so positive I love him he is amazing ❤
Country seems to need a better idea for lighting!
THE TRUTH IS THAT LOCAL BUSINESSES ARE SPRINGING UP TO CHALLENGE THESE FOREIGN BUSINESSES AND THEY COULDN'T STAND THE CHALLENGES OF THE LOCAL BUSINESSES HENCE THEIR FOLD UPS
Example please
Which Ghanaian company equals Nivea?
Yes! There are several high-quality shea butter skin and hair products on the market if you care to look! Nivea products can no longer compete with emerging shea butter products!
@@Head_On Go to the market and the shopping malls and you will see a lot of local body cares on the market shelves and more organic and women who are the better users are in love of the local products
Please tell me the local company which takes over from, e.g., Societe General?
@@pietoboy2171 Go to the shops and you can read from their label. The are private individuals and a lot
The infrastructure and numbers don’t support
@@oceansapart2249 -Yes we know, and thanks for the comment 😊!
It's because Ghana rejected lgbtq+. This is why it's important to promote local businesses instead of foreign ones.
Ayo it’s what happens in business companies come and company go. I like your positive points on agriculture.
“Bring a flashlight”😂😂😂😂😂
Ghana is confronted with high inflation just like any other economy. The inflation is worsened by constant currency depreciation. Successive governments have to borrow for infrastructure development. This has resulted in high indebtedness. In a political season, the opposition is happy to exploit the challenges of the incumbent. Inflation is a bummer but credit as well as criticism should be rightfully assigned. Efforts are being made towards progress. However, due to excessive borrowing and expenditure, the government has exhausted all the fiscal tools. Monetary policy is not that effective so high interest rates only makes matters worse. Point is, Ghana is no worse than many economies. The US is currently keeping interest rates high to fight inflation. The job market has been remarkable and that is what has kept the US economy steaming ahead. Ghana does not have the private sector to employ folks. The government has not laid anyone off.
Long term solution: We have to import less to reduce reliance on foreign exchange.
Those who are well positioned are making money in this economy. Melcom, Palace and other businesses are expanding.
🙋🏾♀️ Babylon Is Falling, It’s Falling Into Sinking Sand “Worldwide” “ Prayer Needed 🙌 “
The government charges as much as Cedis 1 million for imported vehicles
Good information. Thanks for sharing.👍🏾
Thanks for that comment @@Lady_Clare4, appreciate it
I love you guys!!
@@215RANDOM - Love that! Thanks for the comment ❤️️🇬🇭❤️️.
I love your music and your information.
@@grobinson8873 - Love that! Thanks for the comment ❤️️🇬🇭❤️️.
I love this channel from San Diego California
@@MsArtelia - Come on and visit us, and thanks for the comment 😊!
Thanks for the insight, information and updates. We appreciate boots on the ground. 💯%👈. Agriculture and renewable energy the two top tiers of opportunity. You are on point. Yes it will be booming to include digital opportunities. Thanks for this great video and great resources. 1💜ve.
@@totalpkgproductions2797 - Love that! Thanks for the comment ❤️️🇬🇭❤️️.
That’s right Tony keeps the positive in representing Ghana.
@@FreedomQuests - Many people try to take shortcuts and get burned. Ghana has its issues, but it ain't the US, and thanks for the comment 😊!
Thanks guys is Kellogg's still here
I have a woman that lives in Ghana, you should update what you need so I can go to Ghana
Love watching your videos gives a lot of inspiration to travel to Africa. I want to come to Ghana but I have been hearing a lot of negative things about Ghana for one go black to Africa posted video about Ghanaian scamming and taking land from African americans.do you know anything about these allegation and do others foreigners get treated the same way, particularly Chinese who invest in Africa a lot.
I agree with you that agriculture is a viable business to start in Ghana, unfortunately there's a strong import lobby that protect the interests of companies importing into the country. An example is of domestic rice company who's products sit in storage as foreign rice sits on the shelves, another issue is smuggling of product because of our porous borders
Many Eroupean and Chiness companies were doping Ghana on taxes for many years. For me it must happen becouse these foriegn companies are the down fall of local business. Ghana must learn to stand on it own two feet . Yes doomso is bad only in Accra. I have travelled and stayed in at least ten regions in Ghana I can testify the doomso is rather intense in Accra not everywhere . I'm at Sunyani at the moment the only time you see light off is when is raining heavily with tenderstomes and lighting.
❤❤
Niiiice ❤❤
Thank you for your comment!
American here, living with my Ghanaian wife in Dubai.
We will be coming to Accra + Kumasi regularly in the future as my wife’s mom will retire in Kumasi. She has lots of family there. I am interested in the business climate and have some ideas.
Is there a way for us to connect and chat back and forth to discuss some opportunities and maybe brainstorm some ideas to fund?
You are spot on Tony! You have the right mindset to succeed in Ghana! Oh, how i wish most Ghanaians would emulate your perspectives on the challenges that confront emerging economies such as Ghana's. There is no shortcut to progress!
@@andrewasibey371 - Appreciate that, and thanks for the comment 😊!
Big companies leaving is a Blessing in disguise... opportunity for locals or black diaspora who want to settle in Ghana to establish businesses... Lights issue is temporary so
Thank you all this multinational companies are a disguised looting and avoiding taxes
@@paakwegyir3165 - These Korean and Chinese businesses are popping up everywhere with new companies. Interesting that they are not complaining but they are backed by their countries, and thanks for the comment 😊!
A very import dependent economy with a negligible manufacturing sector can only mean depreciating cedi and high inflation. We import things we really should be making!
@@TheTemaBoy - Love that! Thanks for the comment ❤️️🇬🇭❤️️.
It is great news that these WESTERN businesses are leaving. Why should we be spending our money in businesses owned by outsiders when all of the money is leaving Ghana. We need to setup our own campiness. We need to stop the dependency on outsiders.
@@cindyrichards9471 - Interesting comment, are you here? Thanks for the comment 😊!
The challenges Ghana is currently facing are nothing new; in fact, we've seen much worse in our history. I believe we shall come out stronger and better. I'm not discouraged; not in the least!
with such dollar rise?
@@kentdavids6611 Let's face it, the cedi's depreciation against the dollar, and other foreign currencies, isn't new. There are things we can and must do to stabilize it and I hope we do them sooner rather than later.
@@py20 - Love that! Thanks for the comment ❤️️🇬🇭❤️️.
What is happening in Ghana isn't good
@@jenetwaldenmills8643 - Election year, and thanks for the comment 😊!
I cancelled purchasing property in Elmina Beach because of all the news I received about property scams after you’ve built a home on land that was legally purchased.
@@rodaryljohnson2168 - Due diligence is a must, and thanks for the comment 😊!
just got back from Gh few days ago after 2 months of staying down there. the power crisis is getting worse and the government doestn't know how to stop the bleeding. All they do is embezzle funds from its ppl
Be happy ur not in Houston..
@@amytremper5416 - Abbott just pardoned the killer of the black lives matter protestor there. Stroking his racial hatred. Hope the wind storms didn't effect you, and thanks for the comment 😊!
so they are not providing good value for the amount of taxes they take?
@@gdotone1 - It is a very safe country, and thanks for the comment 😊!
Ghana and Gambia are perfect examples of how you block your own blessings being greedy. The Transatlantic Slave Trade and their mentalities have been the same for thousands of years. Expect no progression it's a character flaw.
Let them leave. Good. Let the diaspora come in and prosper with Ghana the way it should be. 🥰 btw I applied for the Facebook group and never got a response.
Don’t count on African Americans to bring wealth into Ghana
They don’t have money to set up businesses to even employ 5 people in Ghana
Their style of businesses are the salon and boutique shops .
@@itscyberqueen13 - Love that! Thanks for the comment ❤️️🇬🇭❤️️.
Where are you guys?
Postal service is… what where?
@@mli6861 -Yeah, that, and thanks for the comment 😊!
I live in Ghana but I’ve decided to move to another African country not sure where yet
I pray that you find that perfect African country so that you can know where you fit in better. I suggest the following countries, Nigeria, Gambia, Sierra leone, Tanzania, Uganda, Ethiopia Kenya and south africa. Mozambique, Ruanda, Zimbabwe and Botswana are added options.
@@mississippitoafrica6402 - Sorry to hear that, and thanks for the comment 😊!
@@paintsildesmond8495not Ethiopia!! Horrible place to live i there now my husband is from there.
Bad quality of life: you won’t sleep in Addis stray barking dogs all over neighborhoods at night, the Orthodox Church blasts its sermons all the time on speakers 2am-8am its almost impossible not to live near a church or speaker, construction noise everywhere during the day and dust. Beggars all over the city, especially child beggars.
Civil conflicts outside of the capital you end up getting stuck in Addis.
High altitude makes you sick, dry skin. Only good thing is no malaria in Addis Ababa.
No beach or coastline.
Security checks everywhere to go into hotels, grocery shopping they WILL follow you around the store if you are BA or African, they don’t to Ethiopians even but not to whts.
At the end of the day they are really not blq ppl and you will see what I mean if you come.
Food poisoning constantly- everyone experiences this.
RUclipsrs hide that as they want to present the country in a good light. Scams here are worse as you will be easily noticed as a foreigner-Ethiopians stick together you will not make friends easily at all!
Unless you are white - they love them- I’d say skip this country.
I think its a good idea the government is looking to tax the diasporas resident in the homeland. They have to make a contribution as do the 'locals'.
Tony RUclipsrs were saying that black Americans was leaving Ghana and that’s when I knew there was a problem and you stated that no there was not leaving
I live in Ghana. Black Americans are leaving and the county is horrible at business.
Without black Americans, Ghana is more Ghana, Ghana got independent 60 years ago, how long African Americans moving to Ghana? Or is only African Americans living in Ghana? Lebanes, indias, and many diaporas living in Ghana they wont complan, ONLY African Americans they always complan why, sad
@@jeffreykofikarikari4334 Black Americans complain in America then they move to Ghana and continue complaining. It just never ends.
@@davidbaker6084 -What we see are people visiting with the interest of moving here and a year later actually moving here. The people leaving here didn't do their homework beforehand, and thanks for the comment 😊!
@@ExpatLifeGhana What people need is a WHAT IF list. !. toilet paper. ALways carry it. Find out where you can go if a traditional toiet is not available. You need to know where the best medical care is available. Find out where you can find a place that has 24-7 water and power, should you need it. Make friends with somebody in government. I had a friend who's father was the ambassador to Sweden from Liberia. They owned a rubber plantation. lost it all after the war. I have government contacts in Peru, Jamaica, Philippines and I'm working on Ghana. if you have trouble with LEO or immigration, you need somebody to call. Always have the US Embassy on speed dial. A lot of expat Africans have government relations. I've never met an African in the US who was from the Bush. So i suggest hanging out in the enclaves in Houston, Atlanta or the DVM.
I believe this is the LBGTQ laws that was supported by the parliament. What you guys are saying has always been the same before youtube. The economic issues have always been there. Electricity has always been a problem. Nothing has changed other than this new Gay laws. The investors are western and want gay culture to be legally accepted
@@jessio4312 - That's not it, and thanks for the comment 😊!
So you pay US income taxes, and these greedy people want to tax what is left. Severely limiting foreign investments and lifestyles. You would need disposable income to create businesses. THIS IS AN OLD FASHIONED MONEY GRAB WITH NO POLITICAL VOICE. Hell no would be looking for the exit.
I got my 1st foreign bank account, and they investigated my income and other accounts for a month in Egypt. Then they slide me a US tax document to sign, stating i will be filing my taxes. No problem already, do. They gave me a checking, debit, credit cards, CD account, line of credit, and another kind of optional investment account. That pays you interest if you lock the amount you deposit in. I was looking to pay my rent easier. But if i want to purchase property, i can utilize the certificate of deposit option and borrow against it to pay for the purchase. The advantage is a failsafe against scamming and unscrupulous business. Egypt has their business environment on lock. And, the overall environment they protect Americans. One visit to their police reporting business scamming or gaming, and that business gets shut down. Ghana sounds crazy. My money wouldn't be in that environment, no failsafe or integrity.
Stevie Wonder was made a citizen from Canada
Canada?
Typo Ghana
@@WRLatocha - Ghana you mean, and thanks for the comment 😊!
It's been 3 years. You're officially MOVED now. LOL
@@JasperXoR - Yeah we need to update or name maybe, and thanks for the comment 😊!
Interesting, companies with millions of USD invested in Ghana are not smart enough to pivot and take advantage of opportunities?
@@wuhala100 - Taxes my friend, taxes... When taxes eat into profit, it's not profitable to stay. These new taxes are business killers, and thanks for the comment 😊!
So why don't they just do what you say, and do some other business. I'm guessing the other business you mentioned pay no taxes. Since that is the only issue according to you. @ExpatLifeGhana
@@ExpatLifeGhanaand in your video you also stated HIGH OPERATING COSTS. This affects any business.
You guys are so funny together! 🤣🤣 Ghana is just having a temporary setback which I believe will get a little worse but then get better. The world is going through a financial reset right now. Probably every countries fiat currency will crash before it's over with and then globally they will reset everything and start over. Just wait until the US dollar crashes from all the de dollarization that's going on in the world. Then you will see a big economic dip in a lot of countries around the world. But, it will all come back eventually. Ghana has to be careful of their business policies and make it attractive for businesses. But, once they get it straight the business will come back.
Bitcoin and other cryptocurrency will probably replace fiat currency around world.
Ayo west Africa is going to get a new currency very soon
Great comment - Thanks for adding to the conversation
Big companies are spoiled brats. If they can't get their way, they leave; its a global issue.
@@gmo1203 -Ghana does have some high taxes though. You must have an attractive tax base for businesses to come and compete, and thanks for the comment 😊!
My wife is from accra.. she hated every minute their. Lights, power, corruption, hella high prices for basic needs, crap roads and infrastructure.. as she described it it was hell for the living.
@@usafcombatvet218 - But it ain't the US, and thanks for the comment 😊!
People don’t have generators?
We can't help but talk about politics. Sorry, Nana is inept, flip floppy. I get there is a lot of corruption but you have to have water, power and sanitation. In 2024 no country can develop without reliable power and proper roads.. These leaders may be "nice people" or they can "talk well" but they evidently are under educated and their finance ministry is dysfunctional.
Thank you for your comment!
Please no music, it’s a bit distracting
How are you going to tell the people who run this how to use their channel? It's not distracting to me and many. I love African music sounds, drums etc.
I get so annoyed when ppl tell other ppl how to run their platforms 🤔when I don’t like something I just leave the platform that’s all 🤷🏽♀️ find some that’s not playing music.
@@jaimecca6259 - Will keep that in mind, and thanks for the comment 😊!
It sounds like Ghana sucks.
@@HappyBeeTV-BeeHappy -NO, just like any other country it has its issues, and thanks for the comment 😊!
@@ExpatLifeGhana I think you're in denial.
Lady why you keep making that weird funny faces?
Dont mind her, she always complan, but she is still in Ghana
Ayo is funny.. I don’t blame her for the faces .. Ghana is a tough road to follow compared to western and technology savvy countries.
@@user-ly6vq5xy3j - To give you something to talk about I guess, and thanks for the comment 😊!
Hi I am in Ghana…this is my 1st visit…I some personal questions…may I email you guys?