Kofi Okyere Darko, actor turning politician tries hard as Director of Diaspora Affairs at Presidency of Ghana to attract investment into country. His efforts will hardly bear fruits due to following factors.
Foreign investors need certainty and reliability in a trustworthy environment for years to come. Money and ideas are flexible not depend on countries or party politics. When for certain investments in particular countries are essential risk ir systems cause to investment this must be part of selling price of products and services to be justifiable. Or countries with a greater variety of common goods will be seen under stricter criteria.
Corruption:
European companies that engage in corruption see ir CEOs in prison in Europe while Russian or Chinese corruption in Africa is backed by ir governments. From top to down level of corruption in Ghana is enormous which often leads to bankruptcy of foreign investment.
Reliable financial system:
Late former CEO of GIPC Ms. Mawuena Trebarh: ” Karl, to bring into Ghana more than $ 50.000 is a problem. It gets lost in our system but appears in a Swiss bank account. When registered with us it is safe as government takes control of it.” In Germany, investment funds can be transferred to any bank and it is safe. In Germany, companies must only be registered with Company House.
Reliable workforce
Africans are not known to honor time. From my six years in Ghana, I lost one year waiting for people. Successful economies have timely and disciplined workforces. Workers must be well-trained and work without constant instructions and supervision; hard to find in Ghana.
Stable energy supply
Dumsor Dumsor and generators make production unreliable and expensive.
Streets with no names
In 2013 Ghana started a street-naming project having asked IMF for $ 3 Mio. support instead of using intelligent means to do this without asking for money. To find places and people is still a time-wasting costly unnecessary challenge.
Lands registry regime
Building a factory on a land in Ghana is still risky due to uncertainty of land ownership. Much has been improved but much needs to be done.
Trustworthy justice system
To get a fair trial in Ghana depends on good luck. 1992 Constitution does not favor Ghana so laws and justice system. Money speaks in many cases and when big men are taken to court y mostly walk free while small man is crushed. Unlike Germany not all judges refuse bribes.
Trustworthy police
After six months of training a Police officer can carry a machine gun while in Germany training lasts for three years. Police often have no fuel in ir cars and ask complainants first to fuel ir police cars before being able to take action. Computer technology is not part of police station system.
Ambulance Service
To call an ambulance in Ghana is top prize in a lottery. In e.g. Germany ambulances and firefighters must respond in 3-5 minutes to a distress call and bring patients to nearest hospital.
list goes on. Ghana like many African countries is not for simple businessman only for a business tiger; champion of problems.
