The mining sector
The mining sector is one of the dominant productive sectors, as Ghana has several deposits of gold, diamonds and bauxite, crude oil and natural gas.
The country's Oil & Gas industry has developed predominantly in recent years, consequently the Ghanaian legislature has intensified legislation in the sector in order to better regulate the matter. Specifically, to complete the existing regulatory framework, in 2016 the "The Petroleum (Exploration and Production) Act 2016 (Act 919)" was issued, which replaced the "Petroleum (Exploration and Production) Law 1984 (PNDCL 84 ) ". A series of regulations were already in force, including "the National Petroleum Authority Act 2005 (Act 691)", "the Petroleum Income Tax Act 1987 (PNDC Law 188)" and "the Ghana National Petroleum Corporation Act (PNDC Law 64 ) ". In July 2011, a special Commission was set up - the so-called “Petroleum Commission” - with the specific functions of regulating and administering the country's petroleum resources, whose composition and other tasks are identified in detail by “the Petroleum Commission Act 2011 (Act 821)”.
The agri-food sector
Ghana represents a particular commercial attraction also in the agri-food sector. This is because the country has vast crops of cocoa trees, cashews, sugar cane plantations and hectares of mango trees. Thanks to the richness of the territory and the favorable climate, the agri-food and fruit and vegetable sectors rank among the best performing sectors in the export of local products. In fact, in the last decade the Ghanaian government has made many efforts to encourage the export of fresh fruit. A first slowdown in the sector was, however, noted following the EU's imposition on the Ghanaian partners to comply with the quality criteria required by European law and regulations.
The export of timber
This sector is accompanied by a massive export of timber. Indeed, one third of the entire national territory is covered by forests exploited to produce timber to be traded. The largest batches of timber go to the old continent, in fact Europe is currently the largest buyer of timber imported from Ghana.
Unfortunately, the enormous economic potential of this country is extremely underestimated. Since 1995 the country has been a member of the World Trade Organization, a circumstance that undoubtedly favors trade relations with other countries.
The law firm de Capoa & Partners, thanks to its more than thirty years of experience in the field of international law as well as the close collaborative relationships it maintains with qualified local professionals and internal native speakers, can offer interested entrepreneurs a quick, efficient and perfectly aware consultancy. the complexity of the Ghanaian legal-economic reality.