RESTRICTED  
  
WT/TPR/S/298  
16 April 2014  
(14-2369)  Page: 1/105  
Trade Policy Review Body   
 
TRADE POLICY REVIEW 
REPORT BY THE SECRETARIAT 
GHANA 
This report, prepared for the fourth Trade Policy Review of Ghana, has been drawn up by the WTO 
Secretariat on its own responsibility. The Secr etariat has, as required by the Agreement 
establishing the Trade Policy Review Mech anism (Annex 3 of the Marrakesh Agreement 
Establishing the World Trade Organization), sought clarification from Ghana on its trade policies 
and practices.  Any technical questions arising from this report may be addressed to Jacques Degbelo 
(tel.: 022 739 5583) and Catherine Hennis-Pierre (tel.: 022 739 5640). 
 Document WT/TPR/G/298 contains the policy statement submitted by Ghana. 
 
 
Note: This report is subject to restricted circulation and press embargo until the end of the 
first session of the meeting of the Trade Policy Revi ew Body on Ghana. This report was drafted in 
English. WT/TPR/S/298 • Ghana 
 
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  CONTENTS 
SUMMARY ....................................................................................................................... . 7 
1   ECONOMIC ENVIRONMENT ........................................................................................ 10  
1.1   Major Features  of the Economy .................................................................................. 10 
1.2   Recent Econ omic Developments.................................................................................. 13 
1.3   Developments in Trade and Foreign Direct Investment ................................................... 18 
1.4   Outlook ................................................................................................................... 24 
2   TRADE AND INVESTMENT REGIMES ........................................................................... 25  
2.1   Genera l Framework .................................................................................................. 25 
2.2   Trade Poli cy Objectives ............................................................................................. 27 
2.3   Trade Agreements and Arrangements .......................................................................... 27 
2.3.1   World Trade Organization ........................................................................................ 27 
2.3.2   ECOWAS .............................................................................................................. 28 
2.3.3   The Economic Partnership Agreemen t (EPA) with the Euro pean Union (EU) .................... 30 
2.3.4   Other agreements .................................................................................................. 31 
2.4   Investme nt Regime .................................................................................................. 32 
2.4.1   Overview ..............................................................................................................  32 
2.4.2   Legal framew ork for bu sinesse s ............................................................................... 33 
2.4.3   The new Ghana Investment  Promotion Centre  (GIPC)  Act ............................................ 34 
2.4.4   Incentives gr anted to in vestor s ................................................................................ 34 
2.4.5   Restrictions on foreign investment ............................................................................ 35 
2.4.6   Land policy ...........................................................................................................  35 
2.4.7   International Investment Agre ements (IIAs) and dispute settlement ............................. 36 
3   TRADE POLICIES AND PRACTICES BY MEASURE ........................................................ 37  
3.1   Measures Direct ly Affectin g Imports ............................................................................ 37 
3.1.1   Registrati on requirements ....................................................................................... 37 
3.1.2   Customs clearance an d other import procedures ........................................................ 37 
3.1.3   Transi t ............................................................................................................... .. 39 
3.1.4   Tariffs an d other charges ........................................................................................ 41 
3.1.4.1   Overview ........................................................................................................... 41 
3.1.4.2   Applied MFN tariffs .............................................................................................. 42 
3.1.4.3   Tari ff bindings .................................................................................................... 45 
3.1.4.4   Other du ties and charges ..................................................................................... 46 
3.1.5   Rules of origin .......................................................................................................  47 
3.1.6   Tariff preferences .................................................................................................. 48 
3.1.7   Duty concessi ons and exem ptions ............................................................................ 48 
3.1.8   Import prohibitions, restrictions, an d licensing ........................................................... 50 
3.1.9   Continge ncy measures ........................................................................................... 50 
3.2   Measures Directly Affecting Exports ............................................................................. 50 
3.2.1   Export procedures .................................................................................................. 50 WT/TPR/S/298 • Ghana 
 
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  3.2.2   Foreign exchange surrender  and conversion requirements ........................................... 51 
3.2.3   Exports under preferential regimes ........................................................................... 51 
3.2.4   Export taxes, charges, an d levies ............................................................................. 52 
3.2.5   Export prohibitions, restrictions, and licensing ............................................................ 52 
3.2.6   Export duty drawback ............................................................................................. 52 
3.2.7   Export subsidies, financ e, insurance, an d guarantees .................................................. 52 
3.2.8   Export pr ocessing zones ......................................................................................... 53 
3.3   Measures Affectin g Production and Trade ..................................................................... 55 
3.3.1   Standards and othe r technical requirements .............................................................. 55 
3.3.1.1   Ghana Standa rds Authorit y (GSA) ......................................................................... 56 
3.3.1.2   Food and Dr ug Authorit y (FDA) ............................................................................. 57 
3.3.1.3   Marking, la belling, and packaging .......................................................................... 57 
3.3.1.4   Sanitary and phytosanitary measures .................................................................... 58 
3.3.1.5   Environm ental regulations .................................................................................... 59 
3.3.2   Intellectual property rights (IPR) .............................................................................. 59 
3.3.2.1   Legal and in stitutional framework .......................................................................... 60 
3.3.2.2   Main areas of in tellectual property rights ................................................................ 60 
3.3.2.3   Enforcement ....................................................................................................... 62 
3.3.3   Research and development support .......................................................................... 62 
3.3.4   State-trading and ot her state-owned enterprises ........................................................ 63 
3.3.5   Competition policy ................................................................................................. 64 
3.3.6   Local cont ent requirements ..................................................................................... 65 
3.3.7   Governme nt procurement ....................................................................................... 65 
4   TRADE POLICIES BY SECTOR ..................................................................................... 67  
4.1   Agriculture ............................................................................................................. . 67 
4.1.1   Agricultural policy .................................................................................................. 68 
4.1.1.1   Income  tax meas ures .......................................................................................... 69 
4.1.1.2   I rrigation .......................................................................................................... . 69 
4.1.1.3   Subsidized farm equipment .................................................................................. 69 
4.1.1.4   Fertilizers, inse cticides, and fungicides ................................................................... 69 
4.1.1.5   Seeds ................................................................................................................ 70 
4.1.1.6   Agricult ural rese arch ........................................................................................... 70 
4.1.1.7   Rural finance and insurance .................................................................................. 70 
4.1.1.8   La nd tenure ....................................................................................................... 70 
4.1.2   Key sub-sectors ..................................................................................................... 71 
4.1.2.1   Cocoa ................................................................................................................ 71 
4.1.2.2   Other agri cultural pr oducts ................................................................................... 73 
4.1.2.3   Dairy, meat, and other animal products .................................................................. 74 
4.2   Fishing an d Aquaculture ............................................................................................ 75 
4.2.1   Overview ..............................................................................................................  75 WT/TPR/S/298 • Ghana 
 
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  4.2.2   Policy ................................................................................................................ ... 76 
4.3   Fo restry  ................................................................................................................ .. 77 
4.4   Energy Products and Services ..................................................................................... 78 
4.4.1   Re gulation ............................................................................................................  78 
4.4.2   Upstream petroleum and gas activities ...................................................................... 79 
4.4.2.1   Crude petroleum ................................................................................................. 79 
4.4.2.2   Na tural gas ........................................................................................................ 81 
4.4.3   Refining and other down stream petroleu m activities ................................................... 81 
4.4.4   El ectricity ........................................................................................................... .. 82 
4.4.4.1   Ge nerati on ......................................................................................................... 83 
4.4.4.2   Transmission  and distri bution ............................................................................... 83 
4.4.4.3   Trade ............................................................................................................... . 84 
4.4.4.4   Pricing and taxation ............................................................................................. 84 
4.5   Gold and Other Mining Activities ................................................................................. 84 
4.5.1   Overview ..............................................................................................................  84 
4.5.2   Policy and regulations ............................................................................................. 85 
4.6   Manufactured Products .............................................................................................. 86 
4.6.1   National industrial policy ......................................................................................... 86 
4.6.2   Pharmaceut ical products ......................................................................................... 87 
4.6.3   Ferrous and non-ferrous metals ............................................................................... 89 
4.7   Services ................................................................................................................ .. 89 
4.7.1   Banking, finance, and insurance ............................................................................... 90 
4.7.1.1   Banking services ................................................................................................. 90 
4.7.1.2   Insura nce .......................................................................................................... 92 
4.7.1.3   Other financial services ........................................................................................ 93 
4.7.2   Information and communication services ................................................................... 94 
4.7.2.1   Overview ........................................................................................................... 94 
4.7.2.2   Developments in regulation .................................................................................. 95 
4.7.2.3   Inte rnet access ................................................................................................... 96 
4.7.2.4   Postal services .................................................................................................... 96 
4.7.3   Transp ort services ................................................................................................. 97 
4.7.3.1   Land transport services ........................................................................................ 97 
4.7.3.1.1   Road transport services ..................................................................................... 97 
4.7.3.1.2   Rail transport services ....................................................................................... 97 
4.7.3.2   Maritime transport se rvices .................................................................................. 97 
4.7.3.3   Port  services ...................................................................................................... 98 
4.7.3.4   Air transport ..................................................................................................... 100  
4.7.4   Tourism .............................................................................................................. 100  
4.7.5   Professional an d business se rvices ......................................................................... 101  
REFERENC ES ................................................................................................................ 103  WT/TPR/S/298 • Ghana 
 
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CHARTS 
 Chart 1.1 Ghana's Human Develo pment Index tren ds, 1980-2 012 .......................................... 10
 
Chart 1.2 Official Development Assistance commitments, 2006-11 .......................................... 13 
Chart 1.3 GDP per capita in Ghana an d neighbouring co untries, 2 006-12  ................................. 13 
Chart 1.4 Fiscal deficit and taxes on trade, 2006-13 .............................................................. 14 
Chart 1.5 Inflation in Ghana and neighbouring co untries, 2006-13  .......................................... 16 
Chart 1.6 Ghana's exchange rate indicato rs, 2007- 13 ........................................................... 17 
Chart 1.7 Foreign investment, 2007-12 ............................................................................... 19 
Chart 1.8 Composition of merc handise trade, 2006 and 2012 ................................................. 20 
Chart 1.9 Prices of gold, co coa, and crude oil, 2006 -13 ......................................................... 21 
Chart 1.10 Direction of mercha ndise trade, 2006 and 2012 .................................................... 22 
Chart 1.11 Trade in services, 2006-12  ................................................................................ 23 
Chart 2.1 Ghana's participation in  WTO TRTA acti vities, 2007-13  ............................................ 28 
Chart 2.2 U.S. import s from Gh ana, 2013............................................................................ 32 
Chart 3.1 Ghana's trade with ECOWAS partners, 2007-13 ...................................................... 40 
Chart 3.2 Tax revenue by category, 2013 ............................................................................ 41 
Chart 3.3 Breakdown of applied MFN tariffs, 2013 ................................................................. 44 
Chart 3.4 Average MFN tariff rates,  by WTO product categories , 2013 ..................................... 46 
Chart 3.5 Export processing zones in dicators, 2000, 2005, 2007, and 2010-12  ......................... 54 
Chart 3.6 Government  Procurem ent, 2011........................................................................... 66 
Chart 4.1 Agricultural prod uction and pr ices, 2000- 12 ........................................................... 67 
Chart 4.2 Production  of fish , 2008-12  ................................................................................. 75 
Chart 4.3 Fish trade, 2007-12 ............................................................................................ 75 
Chart 4.4 Production and trade in petroleum pr oducts, 2000-12 ............................................. 81 
Chart 4.5 Retail prices of ma jor petroleum pr oducts, 2007-13  ................................................ 82 
Chart 4.6 Electricity produc tion and trade, 2000-12 .............................................................. 83 
Chart 4.7 Average electricit y and user ta riff, 2000- 13 ........................................................... 84 
Chart 4.8 Ghana's trade in phar maceuticals (HS 30), 1996- 2012 ............................................ 88 
Chart 4.9 Life and non-li fe insuranc e, 2006 -12 ..................................................................... 92 
Chart 4.10 Market capitalization on the Ghana Stock Ex change, 2007-13  ................................. 93 
Chart 4.11 Composition of access lines - mobile & fixed lines, 2006-13 .................................... 94 
Chart 4.12 Percentage of individuals using the internet, 2002, 2007, and 2012 ......................... 95 
Chart 4.13 Cargo tr affic, 2006-1 2 ...................................................................................... 99 
 
TABLES 
 
Table 1.1 Selected macroeco nomic indicato rs, 2007- 13 ......................................................... 11 
Table 1.2 Overview of income tax rates a pplicable to resident  companie s, 2013 ........................ 15 
Table 1.3 WAMZ Primary convergence criteria by ECOWAS members, 2012 and 2013 ................ 15 WT/TPR/S/298 • Ghana 
 
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  Table 1.4 Balance of payments, 2007-13 ............................................................................. 18 
Table 2.1 New trade-related laws  and regulations since 2007 ................................................. 26 
Table 2.2 Business environment in Ghana and neighbouring co untries, 2007 and 2014 .............. 33 
Table 3.1 Fiscal revenue derive d from import s, 2006, 2010-13 ............................................... 42 
Table 3.2 Structure of MFN tariffs, 2007 and 2013 ................................................................ 43 
Table 3.3 Non ad valorem  duties on petrol eum produc ts, 2014 ............................................... 43 
Table 3.4 Comparative analysis of Ghan a's applied MFN tari ff, 2007 an d 2013 .......................... 44 
Table 3.5 Other duties and charges levied on imports, 2013 ................................................... 47 
Table 3.6 Schemes providing fo r tariff exem ptions, 2013 ....................................................... 48 
Table 3.7 Ghana's expo rt procedur es, 2014  ......................................................................... 51 
Table 3.8 Export permit issuing agen cies, 2013 .................................................................... 51 
Table 3.9 Imports subject to prior authorizat ion, 2014 .......................................................... 55 
Table 3.10 Membership in  IPR treati es, 2013  ....................................................................... 60 
Table 3.11 Overview of  IPR protec tion, 2013........................................................................ 61 
Table 3.12 Income of enterprises wi th state ownershi p, 2007 and 2010-12 .............................. 64 
Table 4.1 Production of 25 main agricultural crops, by value, 2006-12 ..................................... 67 
Table 4.2 Production and exports of cocoa, 1999-2013 .......................................................... 71 
Table 4.3 Forestry production, 2000, 2005, 2009-13 ............................................................. 77 
Table 4.4 Allocation of oi l export proceeds, 2011-13 ............................................................. 80 
Table 4.5 Exports of major mi nerals, 2000, 2005, 2010- 12 .................................................... 85 
Table 4.6 Class 1 banks as at end December 2013 ................................................................ 91 
Table 4.7 Tourism basi c indicators , 2006-13 ...................................................................... 101  
Table 4.8 Information available on select ed regulated professions in Ghana, 2014 ................... 101  
 
BOXES 
 Box 4.1 Pharmaceutical  import ba ns, 2014  .......................................................................... 87
 
 WT/TPR/S/298 • Ghana 
 
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  SUMMARY 
1. Since Ghana's last Trade Policy Review (TPR) in May 2008, the country's well-functioning 
democratic institutions, its rich natural resources, and good governance have helped attract foreign investment and contributed to strong economic growth. Its social policy has focused on 
health and education and the fight against poverty. These efforts have led to impressive 
improvements in Ghana's income per capita, to around US$1,600 in 2012, and in its Human Development Index. Nevertheless, over a quarter of the population still lives below the poverty 
line of US$1.25/day. Thus, the challenge is to ma intain the current economic expansion but ensure 
that greater benefits accrue to the poor so as to reduce inequalities. 
2. Ghana's macroeconomic performance has been rather mixed. In recent years, expansionary 
fiscal and monetary policies have again led to unsus tainable budget deficits, followed by a massive 
currency depreciation and annual inflation exceeding 10%. In particular, Ghana has not met 
several of the primary convergence criteria for the planned ECOWAS West African Monetary Zone (WAMZ) between six ECOWAS Members that do not participate in the West African Monetary 
Union; under the WAMZ, the Ghanaian cedi would be tied to a common regional currency. 
In July 2013, the Government attempted to moderate the growing deficit through tax increases, particularly on trade. The share of taxes on intern ational trade has risen to 4% of GDP and to over 
a third of fiscal revenue, thus emphasizing the dependence of the Government on international 
trade taxation for the financing of its budget.  
3. Ghana's trade has expanded dynamically. Export s, consisting essentially of three primary 
commodities (gold, crude oil, and unprocessed cocoa), more than trebled during the review period, 
to US$14 billion in 2012 under the effect of strong world prices and production increases, whilst 
imports grew faster still, to US$17 billion. Foreign direct investment soared to US$16 billion in 2012, from less than US$4 billion in 2007. These investments have gone mostly to the gold 
mining and petroleum sectors. Attracting investments into other sectors of the economy remains a 
policy challenge, although Ghana has worked succ essfully to improve its business environment. 
Achievements include new commercial courts; reformed land administration; and new business 
registration procedures. Innovative procedures have also been developed to help enforce 
intellectual property rights.  
4. Ghana has made large investments across the country in the information and 
communication technology, in fibre optic broadband in particular, in order to improve its still low 
internet connectivity rates. The number of schools with computers continued to rise. The 
bandwidth price has declined significantly, and the cost of mobile communications in Ghana is among the lowest in Africa. Efforts have been made to improve both the road network and its 
safety. Ghana has passed laws to facilitate access of small and medium-size enterprises to private 
credit, which is often listed as a main obstacle to production and trade in sub-Saharan Africa. As a result, the legal rights of borrowers and lenders have both been improved, and transactions made 
more secure.  
5. The 2013 amendment to the investment law ra ises the minimum capital that foreigners 
must invest to levels above those specified in Ghana's 1994 GATS horizontal commitments, and excludes new activities from foreign competition. It is likely to affect mainly smaller investors, 
particularly from the other members of the Economic Community of West African States 
(ECOWAS), under which free movement of persons and capital has been fully established. In 2013, ECOWAS members concluded the negotiations on a common external tariff (CET) for the region, 
and those on an Economic Partnership Agreement with the European Union, Ghana's main trade 
partner. Overall, ECOWAS integration is slow in taking hold.   
6. Ghana has modified several features of its transit system since its last TPR. As a result, 
transit flows have nearly doubled, showing th at traders respond rapidly and favourably to 
appropriate trade facilitation measures. However, considerable efforts are still required for trading across borders, so as to bring import and export procedures into conformity with the standards of a modern economy. Specific issues include: very slow clearance procedures; defective scanners or 
inefficiencies in their use; multiple destination inspection agencies that duplicate the work of 
customs officers; and frequent physical inspection of goods. In addition port operations are congested and expensive, resulting in long cargo backlogs and additional port charges, while 
numerous compliance-checking agencies slow procedures further and add to their costs. These WT/TPR/S/298 • Ghana 
 
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  problems currently constitute a major bottleneck to Ghanaian companies' competitiveness, as 
witnessed by the relatively slow growth in cargo operations in recent years.  
7. The conformity assessment procedures in place at the border for health, safety, and security 
reasons need to be rationalized, notably those on "high risk goods" (HRGs). The customs 
classification of HRGs dates from the early 1990s and is problematic, as some products are 
inspected twice, by both the Food and Drug Au thority and by the Ghana Standards Authority. 
While Ghana's SPS legislation was modernized in 2012, the 1973 Standards Act does not make a 
clear distinction between voluntary standards and technical regulations: Ghanaian product 
standards on regulated products are considered as technical regulations and their imports inspected accordingly.   
8. Ghana's MFN tariff was modified frequently between 2008 and 2013, when it averaged 
12.8%. It consists of zero, 5%, 10%, and 20% bands, the last two applicable to more than 40% of 
tariff lines. Following Ghana's adoption of the HS 2012 tariff classification, the share of the 2013 tariff that is bound under the GATT/WTO increased from 14.7% to 16.3% of total tariff lines, but it 
remains rather low. Ghana also bound other duties and charges (ODCs) at zero on non-agricultural 
and most agricultural goods, but in reality numer ous ODCs are applied on all imports, and their 
number and incidence have increased. Meanwhile, widespread tariff and other import duty 
exemptions schemes available in Ghana's statutes effectively allow many operators not to pay 
customs duties, ODCs, VAT or other taxes. About 25% of the otherwise payable import duties is 
forgone annually in exemptions of various sorts. This reflects inconsistencies between Ghana's economic structure and its tariff regime. The application of the ECOWAS CET could stabilize 
Ghana's tariff regime and address some of these inconsistencies. 
9. Several schemes are in place to promote exports of non-traditional products with a view to 
diversifying Ghana's export base. Key programmes include market access facilitation for export 
companies, technical advisory services on export  product development, trade information services, 
and export-related human resources development. The main entity is the Ghana Export Promotion 
Authority (GEPA), funded mainly by the Export Development and Agricultural Investment Fund, 
itself funded by a 0.5% levy on all non-petroleum imports. GEPA works in close cooperation with 
the UNCTAD/WTO International Trade Centre in Geneva to identify and support exports of new products. Meanwhile, claims of expo rt duty drawback take a long time to be paid, if at all; and the 
fact that exports from export processing zones in 2012 were three times the cumulative levels of 
imports and production suggests that the regime needs to be revisited.  
10. Agriculture has grown sizeably since 2007, underpinned by an appropriate policy 
environment and growing world prices of cocoa, of which Ghana is the world's second largest 
producer, with annual exports of over US$2 billion . Cocoa procurement, pricing, and exports are 
still under a government monopoly, which has yet to be notified to the WTO.  Domestic prices of other agricultural products have grown dynamically, boosting nominal farm incomes 
proportionately. Ghana has met the NEPAD's objective of allocating 10% of government 
expenditure to its agriculture, and food output has grown accordingly, faster than population 
growth. The tariff, which averages nearly 16%, is  the main trade policy instrument, along with 
exemptions from the payment of VAT on certain domestic products but not imports.   
11. In contrast, growth has been sluggish in the fishing and livestock subsectors, and the 
performance of forestry and logging has been strongly negative in recent years, particularly in 2011 and 2012 following measures to restrict illegal activities and attempts to stem the rate of 
deforestation. Ghana is looking to import timber to exploit its idle wood-processing capacity. Large 
investments are needed to restore growth in the fishing sector, affected by illegal fishing practices, and the absence of vessel registration and a prop er licensing framework. In principle, foreign 
participation in the fishing sector is required in the form of joint ventures with local partners; in 
practice, most of the fishing industry is foreign-owned.
  
12. Ghana is also richly endowed with gold, and exports in 2012 were valued at nearly 
US$5 billion, nearly three times the 2007 level, following strong rises in production and, 
particularly, world prices. However, in 2013, the price of gold fell by over 25%, highlighting the 
need for revenue stabilization mechanisms as is the case for the oil sector. The small-scale mining industry employs over 500,000 pers ons. Although non-Ghanaians are not allowed to engage in 
small-scale mining, since 2008 there has been large in flux of foreign miners to exploit gold mines 
without licences; hundreds were arrested and expelled from Ghana in May 2013. WT/TPR/S/298 • Ghana 
 
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  13. Ghana's economy has been boosted by the commencement of oil production in 2010, 
triggering the creation of a fourth national en ergy regulatory body. Ghana has also set up two 
sovereign petroleum wealth funds so as to manage petroleum revenues in a responsible, 
transparent, accountable, and sustainable manner for the benefits of the citizens. A new "Local 
Content and Local Participation Policy in Petroleum Activities – Policy Framework" requires 
operators, when advertising employment, to give preference to Ghanaians who have the requisite 
qualification, competence and experience, in all operations, including the award of oil blocks, oil 
field licences, drilling, oil-lifting licences, aviati on, transportation, and catering. To be involved, 
foreigners must partner with Ghanaians; the latter should carry at least a 5% equity interest, reviewable at the discretion of the Minister, but that cannot be transferred to non-Ghanaians.  
14. The Government also announced in January 2014 that this local participation policy would be 
extended to the whole energy sub-sector. Meanwh ile, production came to a halt in 2013 at the 
state-owned oil refinery, partly for want of inve stment and because of low prices imposed by the 
Government with a view to redistributing income and smoothing out price fluctuations. In 
response, the Government increased ex-refinery prices of petroleum products and utilities so as to 
align them with import costs, thereby phasing out its fossil fuel subsidy. The downstream petroleum industry has been further deregulate d, including procurement, storage, and bulk 
distribution of petroleum products. This should increase market efficiency, although fuel shortages 
still persisted in early 2014. Since 2008, Ghana ha s become a net and growing electricity exporter, 
despite frequent domestic power cuts. Total installed generation capacity is about 2,828 MW, up from 1,800 MW in 2004; generation is open to competition, but transmission and distribution are 
still under monopoly. The regulated price of el ectricity quadrupled between 2007 and 2013, the 
largest increase taking place in 2013. 
15. Performance in the manufacturing sector has been mixed, with expanding agri-processing 
industries contrasting with failing aluminium production at Ghana's state-owned smelter. Export 
bans are in place on scrap metals to ensure inputs for the local steel mills, while import bans are in place to promote local pharmaceutical capacity. Gh ana issued a detailed National Industrial Policy 
in 2011.  
16. Few restrictions to market access are in place in the services sector, mainly in certain 
maritime transport, trading, and certain retail activities. The liberal environment in road transport has helped promote trade and attract investment. Similarly, a liberal regime also prevails in air 
transport, whereby several routes from Ghana to other countries are served by carriers from third 
countries, which in no small part explains the dynamism of the subsector. In financial services, a number of new foreign banks have joined the Gh anaian banking industry since 2007, and state 
participation has been reduced, as has the related incidence of non-performing loans.  
17. In conclusion, as a result of its abundant raw materials, good governance, and policy 
reforms, Ghana stands out as one of the best locations for investment in sub-Saharan Africa. 
Among the promising sectors are agri-food processing, down-stream oil, gas, and minerals 
processing, as well as the energy and mining-related services subsectors. Prospects would be enhanced if the authorities undertook to tighten monetary and fiscal policies, and overhaul the import system. The responsiveness of certain activities of the Ghanaian economy to appropriate 
reforms suggests that other sectors could perform particularly well if the right policies were put 
in place.   
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  1  ECONOMIC ENVIRONMENT 
1.1  Major Features of the Economy 1.1.  Ghana is located in western Africa on the Gulf of Guinea. It has an area of approximately 
239,000 square kilometres, and a population of ab out 25 million. About 51.5% of the population 
live in rural communities. The main urban area is the capital city, Accra. Since 1993, the country's 
strong democratic institutions (section 2.1), rich natural resources and good governance have contributed to attracting foreign investment and strong economic growth.  
1.2.  These efforts have been followed by impre ssive improvements in Ghana's income per capita, 
and in its Human Development Index as access to education and health have also improved (Chart 1.1). Per capita income was around US$1,600 in 2012 (Table 1.1). The United Nations classifies Ghana as one of the few "medium human development" countries in the region, ranking 
it 135th in the world in its latest Human Development Index Report.
1 The poverty rate fell from 
52% in 1991-92 to 40% in 1998-2000, and then to 29% in 2005-06, one of the best records in poverty reduction in sub-Saharan Africa. Nevertheless, over a quarter of the population still live 
below the poverty line of US$1.25/day.
2 
1.3.  The Ghanaian economy relies on two primar y sectors: agriculture and mining. Ghana is an 
important agricultural producer and exporter (section 4.2). It is the world's second largest cocoa 
producer, after Côte d'Ivoire. Ghana's economic performance therefore partly depends on climatic 
factors that can adversely affect agricultural  output, and on movements in international 
commodity prices. The country is also richly endowed in gold, of which Ghana is Africa's second largest producer, in petroleum and in other minerals. These activities provide about a third of GDP 
(Table 1.1). Since 2007, rising gold prices as well as escalating oil prices have sharply increased 
the country's terms of trade and improved its economic performance. Ghana's manufacturing 
sector remains underdeveloped and suffers from ine fficiency; it has shrunk from about 9% of GDP 
in 2007 to 7.7% of GDP in 2013. The services sector remains below 50% of GDP (Table 1.1). 
Chart 1.1 Ghana's Human Development Index trends, 1980-2012 
0.300.350.400.450.500.550.600.650.700.75
1980 1990 2000 2005 2012HDI - Overall HDI - Health
HDI - Education HDI - Income
 
Source: UNDP. Viewed at: https://data.undp.org/dataset/Tabl e-2-Human-Development-Index-  
 trends/efc4-gjvq . 
                                               
1 UNDP (2013). 
2 The poverty rate is defined as the share of the po pulation living on a given amount of money per day, 
in this case US$1.25. World Bank (2010b). WT/TPR/S/298 • Ghana 
 
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  Table 1.1 Selected macroeconomic indicators, 2007-13 
  2007  2008  2009  2010 2011 2012 2013a 
GDP at current prices ( ₵ million)  23,154  30,179  36,598  46,042 59,816 73,109 84,776  
GDP at current prices (US$ million) 24,758  28,528  25,978  32,174 39,565 40,711 41,571  
GDP growth at constant (2006) prices 6.5  8.4 4.0 8.0 15.0 7.9 7.4  
GDP per capita at current market price (US$) 1,099  1,234  1,097  1,326 1,594 1,605 .. 
Population (million)  22.5  23.1 23.7 24.3 24.8 25.4 ..  
  (% of GDP, unless otherwise indicated) 
GDP at constant (2006) prices by expenditure         
Consumption 92.3 94.6 91.5 93.4 96.1 96.5 .. 
  Private consumption expenditure 81.6  83.4 78.6 79.7 78.3 79.2 ..  
  Government consumption expenditure 10.8 11.2 13.0 13.7 17.8 17.3 .. 
Gross capital formation 24.1  28.9 22.8 26.2 33.0 36.3 ..  
  Gross fixed ca pital formation 24.1 28.9 21.8 25.1 30.1 33.7 .. 
Net exports -18.6  -23.4  -13.8  -14.5 -24.1 -28.2 ..  
    Expo rts of goods and non-factor services 28.0 30.1 31.2 35.9 40.7 41.3 .. 
    Imports of goods and non-factor services 46.6  53.5 45.0 50.4 64.7 69.4 ..  
  Statistical discrepancies 2.2 -0.1 -0.5 -5.1 -5.0 -4.6 .. 
GDP 100.0  100.0  100.0  100.0 100.0 100.0 ..  
 (Percentage change, unless otherwise indicated)  
GDP at constant (2006) prices by expenditure         
Real GDP 6.5 8.4 4.0 8.0 15.0 7.9 7.4 
Consumption 4.7  11.1 0.6 10.2 18.3 8.4 ..  
  Private consumption expenditure 5.1 10.8 -2.0 9.6 12.9 9.2 .. 
  Gove rnment consumption expenditure 1.5  13.0 20.0 14.0 49.8 5.1 ..  
Gross capital formation 18.3 30.1 -17.7  23.8 44.9 18.8 .. 
Net exports 27.4  36.5 -38.5  12.8 91.5 26.4 ..  
    Exports of goods and non-factor services 18.2 16.7 7.6 24.6 30.1 9.5 .. 
    Imports of goods and non-factor services 21.7  24.6 -12.6  21.0 47.7 15.8 ..  
  Statistical discrepancies .. -102.7  861.9  989.4 12.5 0.5 .. 
 (Per cent of GDP, unless otherwise indicated) 
GDP distribution at constant (2006) prices by economic activity         
Agriculture 26.7  26.5 27.3 26.6 23.3 21.9 21.1  
  Crops  18.8 18.8 19.9 19.4 17.5 16.4 15.7 
    of which: cocoa  2.5  2.4 2.4 2.8 2.8 2.4 2.3  
  Livestock  2.3 2.2 2.2 2.2 2.0 1.9 1.9 
  Forestry and logging  3.5  3.2 3.1 3.1 2.3 2.1 2.0  
  Fishing  2.1 2.3 2.0 1.9 1.5 1.5 1.5 
Industry 19.7  20.9 21.0 20.8 25.7 25.4 25.9  
  Mining and quarrying  2.7 2.5 2.6 2.8 7.6 7.4 8.1 
    of which: crude oil  0.0  0.0 0.0 0.3 4.9 5.0 6.4  
  Manufacturing  9.0 8.7 8.2 8.2 8.3 8.1 7.7 
  Electricity  0.6  0.7 0.7 0.7 0.6 0.6 0.7  
  Water and sewerage  1.1 1.1 1.1 1.1 1.0 0.9 0.9 
  Construction  6.3  8.1 8.5 8.0 8.2 8.4 8.5  
Services  47.0 46.8 47.5 48.3 45.9 46.9 47.7 
  Trade, repair of vehicles, household goods  6.0  6.1 6.2 6.5 6.3 6.1 5.8  
  Hotels and restaurants  4.6 4.6 4.3 4.1 3.7 3.8 4.1 
  Transport and storage  12.9  12.4 12.4 12.4 12.0 12.2 12.4  
  Information an d communication  2.5 2.8 2.8 3.2 3.3 3.7 4.3 
  Financial and insurance activities  2.8  2.9 3.0 3.3 2.9 3.3 3.4  
  Real estate, professional, administrative & support service 
 activities  4.7 4.4 4.2 4.4 4.4 4.6 4.6 
  Public Administration & de fence; social security  4.8  5.0 5.4 5.2 4.8 4.6 4.5  
  Education  3.6 3.8 4.1 4.0 3.6 3.5 3.5 
  Health and social work  1.3  1.3 1.4 1.4 1.3 1.3 1.4  
  Community, social & personal service activities  3.6 3.6 3.8 3.9 3.8 3.7 3.7 
Net indirect taxes  6.5  5.8 4.2 4.3 5.1 5.7 5.3  
Prices, interest rates, and exchange rate         
Inflation (CPI, % change) 10.7  16.5 19.3 10.7 8.7 9.2 ..  
Interest rates (end year rates)         
  Central Bank; prime rateb 13.5 17.0 18.0 13.5 12.5 15.0 16.0  
  91-day treasury bills, discount rateb 10.3 23.2 22.4 11.9 10.1 21.7 20.5 
  Interbank rate (weighted average)b 12.0 19.0 16.5 11.7 6.6 17.1 17.1  
Broad money (M2) growth (annual %) 36.8 39.2 24.7 31.9 34.0 25.1 .. 
Cedi/US$ (annual average)  0.9  1.1 1.4 1.4 1.5 1.8 2.0  
Nominal exchange rate (2005=100) 90.4 77.6 60.9 60.2 54.7 48.4 .. 
Real effective exchange rate (2005=100) 104.6  99.5 91.6 97.6 92.8 86.8 ..  
 (Per cent of GDP, unless otherwise indicated) 
External sector          
Current account (incl. official transfers) -9.6 -11.7  -6.5 -8.6 -9.3 -12.1 -14.0  
Current account (excl. official transfers) -10.4  -12.5  -7.6 -9.2 -9.9 -12.7 -14.1  
Merchandise trade (net) -15.7  -17.5  -8.5 -9.2 -8.0 -10.3 -9.5 
    Exports (f.o.b.) 16.9  18.5 22.5 24.7 32.3 33.3 32.8  
    Imports (f.o.b.) -32.6  -36.0  -31.0  -33.9 -40.4 -43.6 -42.3  
Services and income (net) -2.1  -1.9 -6.0 -6.6 -7.8 -7.6 -9.1  
Gross international reserves (US$ billion) 2.8 2.0 3.2 4.7 5.4 5.3 .. 
  Equivalent in months of imports of goods and services  3.1 1.8 3.2 3.7 3.3 3.0 ..  
Debt service / exports of goods and services (%) 3.5 6.5 4.3 3.7 3.3 3.9 .. 
Debt service / GDP (%) 0.2  0.5 1.3 0.3 0.3 0.1 ..  WT/TPR/S/298 • Ghana 
 
- 12 - 
 
    2007  2008  2009  2010 2011 2012 2013a 
Public finance         
Total revenue and grants 19.5  18.6 18.5 19.1 21.5 22.8 24.5  
  Tax revenue  14.3 14.1 13.0 14.0 16.3 17.1 17.8 
     of which:          
         Taxes on income and property 4.1 4.2 4.7 5.3 6.7 7.6 8.1 
         International trade 6.7  6.6 5.6 5.8 6.3 6.6 6.8  
  Non-tax revenue 1.5 1.4 2.4 2.7 3.0 3.9 5.0 
  SSNIT Contribution  0.3 0.2 0.2 0.1 0.2 0.2  
  Grants 3.7 2.7 3.0 2.3 2.0 1.6 1.5 
Total expenditure and net lending  24.3 26.5 22.8 25.0 22.4 28.6 31.8  
          
Overall balance (commitment basis) -4.8  -7.9 -4.3 -5.9 -0.9 -5.8 -7.2  
Overall balance (cash) -5.3 -8.5 -5.8 -7.4 -4.1 -11.1 -10.1  
Overall balance (incl. divestiture and discrepancy) -4.9  -6.5 -5.6 -6.5 -4.0 -11.8 -10.5  
          
Total public debt  31.0  33.6 36.0 46.4 43.7 50.2 51.4c 
  External debt 15.0 16.2 19.4 20.1 21.0 21.9 22.5c 
  Domestic debt 16.0  17.4 16.6 26.3 22.8 28.3 29c 
.. Not available. 
a Provisional. b Rate in September used for 2013 figures. c Projection. 
Note: Percentages may not total 100 due to rounding. Source: National Accounts Statisti cs, Ghana Statistical Service (May 2011, April 2012, and April, May, and 
September 2013); Bank of Ghana Statistical Bu lletin (August 2010, June 2011, March, June, 
and December 2012, and March, June, September, and December 2013); Ghana's Ministry of Finance, Budget Statement and Economic Policy; IMF International Financial Statistics (IFS). Viewed at: http://elibrary-data.imf.org/ ; and IMF Country Reports Nos 11/128 (June 2011), 12/201 
(June 2012), and 13/187 (June 2013); and World Bank's World Development Indicator database. 
Viewed at: http://databank.worldbank.org/dat a/views/variableselection/selectvariables.aspx?source=world-
development-indicators . 
1.4.  Private capital inflows represent a vital so urce of funding, and a growing share of GDP in 
recent years (Table 1.1). Foreign direct investment has increased massively at US$16 billion in 2012, up from less than US$4 billion in 2007 (section 1.3).
3 In contrast, official development 
assistance (ODA) amounted to a rather modest  level of approximately US$1.8 billion in 2011 
(Chart 1.2).4 However, the share of ODA recorded as aid-for-trade is high in Ghana by regional 
comparison; Ghana was the world's fifteenth largest recipient of aid-for-trade in 2011, which has 
been directed towards, inter alia,  better customs administration (section 3.2.2); and the 
development of the legal and regulatory fram eworks for microfinance (section 4.8.1).  
                                               
3 In 2011, Ghana introduced an aid policy, titled  Ghana Aid Policy and Strategy, which spans the 
period 2011 and 2015. The aid policy was developed in "res ponse to available evidence showing that recipient 
country policies and procedures, human capacity, ec onomic management and institutional arrangements 
determine to a large extent the optimal allocation of ai d and its impact on growth and poverty reduction". The 
policy was fashioned out of the objectives of the Paris Declaration on Aid Effectiveness, 2005 and the Accra Agenda for Action, 2008. The aim of the aid policy is to ensure that aid is managed and monitored properly, 
i.e. to ensure effectiveness and coordination by alig ning external aid to national development priorities 
(OECD (2012)). 
4 OECD (2013). WT/TPR/S/298 • Ghana 
 
- 13 - 
 
  Chart 1.2 Official Development Assistance commitments, 2006-11 
0510152025303540455055606570
2006 2007 2008 2009 2010 2011Total Aid-for-Trade as a share of total ODA
Total ODA as a share of GDP(Per cent)
 
Source: OECD-DAC, Aid Acti vity Database (CRS). 
1.2  Recent Economic Developments 
1.5.  In accordance with the Ghana Shared Growth and Development Agenda (GSGDA 
2010-2013),  the Government's economic policy has focused on supporting oil and gas 
development with investments in infrastructure, energy and housing. Its social policy has focused 
on human development, including health and education and the fight against poverty. The Government has also made a declared priority to achieve more transparent and accountable 
governance. In response to these efforts, Ghana' s economy advanced at a very fast pace during 
the 2007-13 period (Table 1.1), also helped by rising primary commodity prices, and generally 
good agricultural production conditions. As a resu lt, Ghana's population has enjoyed high increases 
in real per capita income (Chart 1.3) compared to neighbouring countries. In particular, the 
authorities have announced that Ghana is reportedly on track to meet the Millennium Development 
Goals.
5 
Chart 1.3 GDP per capita in Ghana and neighbouring countries, 2006-12 
7009001,1001,3001,5001,7001,9002,1002,3002,500
2006 2007 2008 2009 2010 2011 2012Ghana Benin Cameroon
Côte d’Ivoire Nigeria Togo(Constant PPP 2005 international $)
 
Source: World Bank, World Develo pment Indicators. Viewed at: 
http://databank.org/data/views/variableselection selectvariables.aspx?sou rce=worlddevelopmentindi
cators . 
1.6.  While Ghana has manifestly done well in improving income and social living conditions, 
macroeconomic stability has not been met with the same level of success. As has often been the case in Ghana in the past, expansionary fiscal policies have in recent years again led to 
                                               
5 Republic of Ghana and UNDP (2010). WT/TPR/S/298 • Ghana 
 
- 14 - 
 
  unsustainable budget deficits (Table 1.1 and Chart 1.4), and constituted the main challenge to the 
Government's short term economic policy. In Se ptember 2013, Fitch downgraded Ghana's rating 
from "B+" to "B" on account of its fiscal imbalances.6  
Chart 1.4 Fiscal deficit and taxes on trade, 2006-13 
-14.0-12.0-10.0-8.0-6.0-4.0-2.00.0
2007 2008 2009 2010 2011 2012 20134.04.55.05.56.06.57.0
2007 2008 2009 2010 2011 2012 2013b(a) Fiscal balance (b) Taxes on international trade(Percent of GDP)
a
b  
 
a Including divestiture and discrepancy. 
b Projection outturn. 
Source: Bank of Ghana Statistical Bulletin (August 20 10, June 2011, March, June, and December 2012, and 
March, June, and September 2013); and Ministry of Finance. Viewed at: http://www.mofep.gov.gh/ 
?q=fiscal-data . 
1.7.  On the revenue side, important efforts to improve fiscal revenue collection have resulted in 
an increase in the share of direct taxes (on income , profits and capital gains) in GDP. For instance, 
all revenue collecting agencies were brought together in 2009 to form the Ghana Revenue Authority. Despite these efforts, the fiscal deficit has remained large. In July 2013, the 
Government responded to the growing deficits with a number of tax increases, notably the 
increase in the corporate tax on companies to 30%  for certain companies (Table 1.2). Also notable 
was the Special Import Levy Act of 2013 (section 3.2.4.4), which helps to increase the share of 
taxes on international trade to 4% of GDP (Cha rt 1.4), and to 32% of fiscal revenue, thus 
emphasising the dependence of the Ghanaian Go vernment on international trade taxation to 
finance its activities.
7 
1.8.  On the expenditure side, according to th e IMF, one of the main causes of excessive 
government spending has been large public sector  wage bills, which alone amounted to 10% of 
GDP in 2012.8 The Government also reportedly accumulate d net arrears of 2.8% of GDP, of which 
nearly half was to state-owned enterprises, in part linked to the consumer subsidies on petrol and 
electricity.9 Under current rules, the Government may borrow from the banking system, including 
the Bank of Ghana (BoG), up to 10% of the tota l revenue collected in the previous fiscal year.10 In 
practice, this borrowing has been higher than 10% during the year, but generally recedes to a 
maximum of 10% at year end.  
                                               
6 Fitch Ratings online in formation. Viewed at: https://www.fitchratings.c om/web/en/dynamic/fitch-
home.jsp . 
7 These taxes include import and export duties (but  not so-called "import exem ptions"), VAT and excise 
levied on imports, see Ministry of Finance (2014). 
8 IMF (2013). 
9 IMF (2013). 
10 Bank of Ghana Act, Article 30, Temporary advanc es. Bank of Ghana online information. Viewed at: 
http://www.bog.gov.gh . WT/TPR/S/298 • Ghana 
 
- 15 - 
 
  Table 1.2 Overview of income tax rates applicable to resident companies, 2013 
Resident companies - Corporation tax Rate (%) 
Standard rate, except for the following companies: 25 
Banks (excluding rural and community banks) 30 
Non-bank financial institutions 30 
Insurance companies 30 
Telecommunications companies liable to collect and pay the 
Communications Service Tax under the Communications Service Tax Act, 2008 30 
Breweries 30 
Inspection and valuation companies 30 
Companies providing mining support services 30 
Shipping lines, maritime and airport terminals 30 
Rate applicable to companies in the hotel industry 20 
Rate applicable to companies listed  on the Ghana Stock Exchange 22 (1st three years) 
Rate applicable to companies en gaged in non-traditional exports 8 
Rural and community banks and free zone developers  and enterprises 8 (after tax holiday period) 
Financial institutions in respect of income from financing farming 
enterprises and leasing companies 20 
Agri-processing companies and cocoa by-product s companies 0-20 (after tax holiday period) 
Petroleum income tax Not exceeding 50% (subject to 
rate per Petroleum Agreement) 
Capital gains 15 
Dividends 8 
Royalties Taxed as ordinary income 
(residents) 
Rent on properties 8 
Source: Tax Act, 2000 and National Fiscal Stabilization Levy Act, 2013. 
1.9.  The BoG11 formulates monetary policy. The main regulatory and legal framework is the 
following: The Bank of Ghana Act 2002 (Act 612 ), which provides for its independence; the 
Banking Act, 2004 (Act 673); and two new laws designed to facilitate access of small and medium 
size enterprises to private credit, namely the Non-Bank Financial Institutions Act, 2008 (Act 774) 
and the Borrowers and Lenders Act (Act 773 and section 4.8.1). 
1.10.  The BoG announces inflation targets at the end of each financial (and calendar) year. Its 
policy in early 2014 was to maintain inflation below 10%, in accordance with the West African 
Monetary Zone (WAMZ) criterion of single-digit inflation, in line with the objective of creating a 
common single currency for all ECOWAS members (Table 1.3 and section 2.4.2).  
Table 1.3 WAMZ Primary convergence criteria by ECOWAS members, 2012 and 2013 
Primary criterion 
Target 
Gambia 
Ghana 
Guinea 
Liberia 
Nigeria 
Sierra 
Leone 
Inflation rate (end period), 2012  <10%  4.9 8.8 12.8 5.5 12.0 11.4  
Inflation rate (end period), 2013  <10%  5.8 11.2 12.0 7.0 8.4 10.8 
Fiscal deficit excluding grants/GDP, 2012 <4%  13.5 7.4 5.5 1.8 2.5 8.1  
Fiscal de ficit excluding grants/GDP, June 2013 <4% 8.1 5.4 6.5 -3.1 1.8 0.8 
Central Bank financing of fiscal deficit, June 2012 <10%  0.4 9.4 0.0 0.0 0.0 0.0  
Central Bank financing of fiscal deficit, 2013 <10%  17.1 8.8 1.0 0.0 0.0 5.9 
Gross external reserves (months of import), 2012 >3 months  4.9 3.4 3.1 2.3 9.5 3.1  
Gross external reserves (months of import), June 2013  >3 months  4.8 3.2 3.9 2.5 9.6 3.0 
Source: WTO Secretariat based on information provided by WAMI.  
1.11.  In reality, monetary policy has genera lly accommodated expansionary fiscal policy, as 
witnessed by the sizeable growth of broad mone y supply (Table 1.1). Controlling and limiting 
inflation have been a continuing challenge for the Government, with annual rates exceeding 10% 
throughout the 2006-10 period (Table 1.1), and well exceeding consumer price increases in 
neighbouring countries (Chart 1.5). After falls in 2011 and 2012, the inflation rate again exceeded 
                                               
11 Bank of Ghana online information. Viewed at: http://www.bog.gov.gh/index .php?option=com_content 
&view=article&id=55&Itemid=117 . WT/TPR/S/298 • Ghana 
 
- 16 - 
 
  10% in 2013; this increase partially resulted from the increase in 2013 of government-set petrol 
prices.  
Chart 1.5 Inflation in Ghana and neighbouring countries, 2006-13 
90100110120130140150160170180190200210220
2006 2007 2008 2009 2010 2011 2012 2013Ghana
Burkina Faso
Côte d'Ivoire
Nigeria
Togo(Consumer price index, 2006=100)
a
 
a 2013 Q1. 
Source: IMF database. Viewed at: http://elibrary-data.imf.org/ . 
1.12.  After a first tightening in mid-2009 (Table 1.1), monetary policy was tightened again in 
early 2012 to halt rapid currency depreciation, via increases in the reference Monetary Policy Rate. The BoG increased the MPR from 16% to 18% on 6 February 2014. Starting at below 10% at 
end-2011, interest rates on 91-day Treasury bills ro se to over 21% in the second half of 2012, to 
about 23% in April 2013, before declining to slightly above 20% in February 2014. The interbank rate stood at around 16% in February 2014.
12 Interest rate increases have raised the cost of credit 
to the private sector, including the cost of export and import credits. 
1.13.  Ghana has implemented a free floating exchange rate system since 1988. Its national 
currency, the cedi, has experienced instability over most of this period.13 In recent years, the 
economy has experienced a gradual depreciation of its currency which, in the first five months 
of 2012, accelerated dramatically: when compared  to 2007, at the end of 2012 the cedi had lost 
half of its value relative to the dollar (Chart  1.6), and in February 2014 the cedi's fall was 
continuing. The nominal depreciation of the cedi resulted from excessive public spending financed 
by money supply growth (Table 1.1), large mercha ndise trade deficits, strong capital outflows 
through profit repatriation, and the dollarization of the economy.  Aside from stabilizing Ghana's 
currency, a critical challenge for the Government is to manage the impact of the oil and gas proceeds on inflation in order to avoid a real e ffective exchange rate appreciation that would be 
detrimental to exports, and trigger an increase in the current account deficit.
14 
1.14.  Also in February 2014, the BoG announced a series of foreign exchange controls, including 
restrictions on foreign currency-denominated loans, new rules on the repatriation of export 
proceeds, and revised operating procedures for foreign-exchange bureaus.  
1.15.  Under the Foreign Exchange Act 2006 (Act 723), complemented by operational guidelines, 
all foreign exchange earned through exports must  be repatriated and surrendered within 60 days 
of shipment to a registered Ghanaian bank in Ghana, except cocoa export proceeds which must be 
surrendered to the BoG. The exception is that, under the Minerals and Mining Act 2006, owners of mining leases may be authorized to retain a port ion of the foreign exchange earned abroad. Banks 
must submit reports of all export receipts to the BoG.  
                                               
12 IMF (2013). 
13 Mumuni, Z. and E. Owusu-Afriyie (2006). 
14 IMF (2012). WT/TPR/S/298 • Ghana 
 
- 17 - 
 
  Chart 1.6 Ghana's exchange rate indicators, 2007-13 
0.000.050.100.150.200.250.300.350.402007 Q1
2007 Q22007 Q3
2007 Q4
2008 Q12008 Q22008 Q32008 Q42009 Q12009 Q22009 Q32009 Q42010 Q12010 Q22010 Q32010 Q42011 Q12011 Q22011 Q32011 Q42012 Q12012 Q22012 Q32012 Q42013 Q10.81.01.21.41.61.82.0
CEDI/US$ CEDI/100 CFA franc (right-scale)
80859095100105110
2007 Q1
2007 Q2
2007 Q3
2007 Q4
2008 Q1
2008 Q2
2008 Q32008 Q4
2009 Q1
2009 Q2
2009 Q3
2009 Q4
2010 Q1
2010 Q2
2010 Q3
2010 Q4
2011 Q1
2011 Q22011 Q3
2011 Q4
2012 Q1
2012 Q2
2012 Q3
2012 Q4
2013 Q1
2013 Q2
2013 Q3Real effective exchange rate 
(Index, 2005=100)Nominal exchange rates
 
Source: IMF database. Viewed at: http://elibrary-data.imf.org/.  
1.16.  Foreign exchange conversion (into cedis) requirements differ according to products exported 
and operators. Cocoa export proceeds must be converted entirely into cedis. Since 2006, exporters 
of other products may retain part of the foreig n exchange earned in Foreign Exchange Accounts 
(FEA) or Foreign Currency Accounts (FCA) at thei r local banks. These accounts can be credited 
with foreign exchange earnings not converted into cedi balances. However, in general balances on 
these accounts cannot be freely transferred without the necessary supporting documentation to 
back the underlying transaction. Residents are allowed to transfer up to US$10,000 per annum 
from these accounts to meet payment obligations abroad without documentation. These transfers 
would appear to have been numerous since 2012,  and contributed to the depreciation of 
the cedi.15  
1.17.  Importers are also allowed to undertake im ports through direct transfer from FEAs up to 
US$25,000 per transaction without initial documentatio n. As evidence of the receipt and clearance 
of goods in Ghana, the importer must submit th e Customs Entry Form (C12) covering the imports 
to his bankers not later than three months after the transfer has been effected.  
1.18.  Since 2006, all residents (and non-residents) are also allowed to maintain FCAs with banks. 
The accounts may be credited with transfers in foreign currency from abroad or other foreign 
currency accounts. Balances are freely transferable. They may be debited for payments, for transfers to other foreign accounts, and for purchases of external currencies. Consequently, large 
dollar deposits have been accumulated in these accounts. Moreover, in large part because of 
inflation, many  companies are invoicing and receiving payments  in U.S. dollars. It is expected that 
                                               
15 GhanaWeb online information. Viewed at: http://www.ghanaweb.com/Gh anaHomePage/NewsArchive/ 
artikel.php?ID=248265  [22 August 2012]. WT/TPR/S/298 • Ghana 
 
- 18 - 
 
  the adoption of a common currency such as is envisaged by the Government within the WAMZ, 
could certainly help to better control inflation, as witnessed by neighbouring countries in this respect.
16  
1.3  Developments in Trade and Foreign Direct Investment 
1.19.  Ghana's current account deficit is large an d has been growing to an estimated 12% of GDP 
in both 2012 and 2013, mirroring the excess of gr oss domestic investment over national savings 
despite substantial private transfers (Table 1.4). It has been financed since 2008 in large part by 
substantial foreign direct investment inflows (8% of GDP per annum since 2010). According to 
UNCTAD's World Investment Report 2011, Ghana ranked as the seventh largest recipient of FDIs in Africa and the third largest in Sub-Saharan Af rica at the end of 2010. Official reserves of 
US$5.3 billion in 2012 covered about three months of projected 2012 imports (Table 1.1). 
Table 1.4 Balance of payments, 2007-13 
(US$ million) 
 2007  2008  2009  2010  2011 2012 2013 a 
         
Current account (excl. official transfers) -2,584 -3,569 -1,977 -2,969 -3,904 -5,169 -5,881 
Current account (incl. official transfers) -2,374 -3,327 -1,688 -2,770 -3,675 -4,911 -5,801 
   Merchandise trade balance  -3,894 -4,999 -2,207 -2,962 -3,183 -4,211 -3,943 
     Exports (f.o.b.)  4,172 5,270 5,840 7,960 12,785 13,552 13,655 
        Cocoa beans & products  1,133 1,487 1,866 2,220 2,871 2,829 2,171 
        Gold  1,734 2,246 2,551 3,804 4,920 5,643 4,966 
        Timber & timber products  249 317 180 190 166 131 166 
        Crude oil  0 0 0 0 2,779 2,976 3,885 
        Other exports  1,057 1,220 1,243 1,748 2,050 1,973 2,468 
     Imports (f.o.b.)  -8,066 -10,269 -8,046 -10,922 -15,968 -17,763 -17,599 
        Non-oil  -5,971 -7,912 -6,557 -8,686 -12,672 -14,433 -14,048 
        Oil & gasb -2,095 -2,357 -1,489 -2,236 -3,296 -3,331 -3,550 
   Services and income (net) -523 -540 -1,559 -2,130 -3,090 -3,105 -3,797 
   Private transfers (net) 1,834 1,970 1,788 2,123 2,369 2,148 1,859 
   Official transfers (net) 209 241 290 200 229 258 80 
          
Capital and financial account  4,080 3,297 4,328 4,290 4,479 3,651 4,892 
Capital account 188 463 564 338 445 283 20 
Financial account 3,909 2,834 3,764 3,952 4,034 3,368 4,873 
Net errors and omissions  -1,293 -910 -1,481 -57 -258 49 -257 
Overall balance  413 -941 1,159 1,463 547 -1,211 -1,166 
a Provisional. 
b Gas imports from 2011. 
Source: Ghana's Ministry of Finance, 2014 Budge t Statement and Economic Policy. Viewed at: 
http://www.mofep.gov.gh/?q=news/191113/2014-budget-statement-and-economic-policy .  
1.20.  Ghana has attracted very large amounts of FDI in recent years (Chart 1.7). Most of the FDI 
is flowing to the oil and gas industries.  
1.21.  Developments in Ghana's merchandise trade have also been impressive (Chart 1.8). 
Statistical problems and in particular large discrepancies between data reported to UN Comtrade (Chart 1.8) and balance of payments trade data (Table 1.4) make it hazardous to provide a 
detailed and representative description of Ghana' s merchandise trade. An example of statistical 
problems is exports of cashew nuts in shell (HS Code 080131), which are reported by Ghana to UN Comtrade as having jumped from US$469 million in 2011 to US$3 billion in 2012, while exported quantities shrunk from 89,834 tonnes to 73,074 tonnes over the same period. Ghana's two 
markets for cashew nuts are India and Viet Nam. In general, large discrepancies continue to exist 
between the country's trade data, used by the Ghana Statistical Service for the national accounts and reported to UN Comtrade, and the figures compiled by Customs and reported by the BoG for 
the balance of payments. 
                                               
16 Adenutsi, D. and C. Yartey (2007). WT/TPR/S/298 • Ghana 
 
- 19 - 
 
  Chart 1.7 Foreign investment, 2007-12 
020406080100120
02,0004,0006,0008,00010,00012,00014,00016,00018,000
2007 2008 2009 2010 2011 2012Inward stock Outward stock(US$millions )
05001,0001,5002,0002,5003,0003,500
2007 2008 2009 2010 2011 2012Foreign direct investment position Portfolio investment position
 
Source: Bank of Ghana. 
1.22.  The exceptional expansion of exports has pa rtly been due to the inception of oil exports. 
Another factor of expansion has been the rise in gold prices. As a result, total export value more 
than tripled between 2009 and 2012, to nearly US$18 billion. Commodity exports remain heavily 
concentrated on a few primary commodities (gold, cocoa, and oil), which together account for over 85% of Ghana's total exports of goods. Other important exports include chromium ores and 
concentrates, aluminium, platinum, refined petroleum fuels. Agri-based exports include logs and 
timber products, such as veneer, which have been receding (section 4.4); and canned tuna. 
1.23.  According to International Trade Centre (I TC) statistics, Ghana has succeeded in increasing 
its world market share for most of its exported products between 2008 and 2012. Its exports of 
precious metals, mainly unwrought gold (HS 7108), are destined mainly to South Africa, followed 
by the UAE and Switzerland. These exports am ounted to over US$5.6 billion in 2012, and 
accounted for nearly half of total merchandise exports in 2012. Ghana greatly benefitted from the 
increase in world gold prices, but is also vulnerable to the recent price regression (Chart 1.9). 
1.24.  Combined exports of crude petroleum an d petroleum gas reached US$3.3 billion in 2012, 
according to balance of payments data. Ghana al so exports refined oils (US$215 million in 2012) 
and electrical energy (US$32 million, mainly to Benin and Togo). Ghana also recorded dynamic 
export growth in essential oils, perfumes, and cosmetics (HS section 33). It is also a small exporter of coffee and cotton. 
1.25.  Capital equipment, machinery, and intermediate goods represented about 70% of total 
imports in recent years, and explain in large part Ghana's strong import growth. As shown 
in Chart 1.8, imports of crude petroleum products have declined sizeably as a share of the total, replaced by imports of refined products in the wa ke of serious production problems at the local 
refinery (section 4.5.3).  WT/TPR/S/298 • Ghana 
 
- 20 - 
 
  Chart 1.8 Composition of merchandise trade, 2006 and 2012 
2006 2012
(a)    Exports (f.o.b.)
Manufactures
21.2%Fuels
28.9%Cocoa 
beans
12.5%Agricultural 
raw material
1.7%
Other 
agriculture
4.1%
Total:   US$3.6 billion Total:  US$15.8 billion  
(b)    Imports (c.i.f.)
Chemicals
10.8%Transport 
equipment
15.6%
Manufactures
69.9%
Electrical 
machines
9.0%Fuels  13.8%
Iron and steel
2.5%Food
13.4% Agricultural 
raw material
1.2%Other 
manufactures
11.0%
Other mining
1.5%
Non-electrical
machinery
13.8%Iron and 
steel
5.5%Food
13.0%Agricultural 
raw material
1.1%Other 
manufactures
12.1%
Transport 
equipment
17.5%Other
0.1%
Agri.
14.7%
Other semi-
manufactures
11.3%Chemicals
12.4%Manufactures
82.2%
Total:   US$5.3 billion Total:   US$14.0 billion(%)
Manufactures
6.3%
Other
0.2%Fuels
0.4%
Electrical 
machines
9.6%Agriculture
18.3%
Non-electrical 
machinery
9.4%Other 
mining
1.1%
Other semi-
manufactures
11.7%Agri.
14.1%Gold
45.0%
Fuels
2.5%Other 
mining
1.5%Agriculture
44.7%Gold 
31.3%
Other mining
2.2%Cocoa beans
30.3%
Agricultural raw 
material
2.8%
Other 
agriculture
11.6%
(BoP total:  US$13.6 billion)  
(BoP total:  US$17.8 billion) 
Source: WTO Secretariat calculations, based on UNSD , Comtrade database (SITC Rev.3); and information 
provided by the authorities. WT/TPR/S/298 • Ghana 
 
- 21 - 
 
  Chart 1.9 Prices of gold, cocoa, and crude oil, 2006-13 
80100120140160180200220240260280
2006 2007 2008 2009 2010 2011 2012 2013Gold Cocoa Crude oil(Index 2006=100)
 
Source: World Bank Global Economic Monitor (GEM) Commodities. Viewed at: 
http://databank.worldbank.org/dat a/views/variableselection/selectvariables.aspx?source=global-
economic-monitor-%28g em%29-commodities . 
1.26.  While Ghana's merchandise exports remain concentrated in Europe, especially within the EU 
market (Chart 1.10), this share appears to have shrunk. South Africa remains a major export partner, buying a large part of Ghana's gold exports. On the other hand, China has not emerged 
as a significant market for primary commodity exports, as has been noticed in other sub-Saharan 
African countries.
17 Once again, however, the data must be  interpreted with caution. In general, 
formally recorded trade with ECOWAS partners has not expanded and remains marginal. The 
reality is probably quite different. 
1.27.  On the import side, the main structural change between 2006 and 2012 is the near-doubling 
of imports from China as a share of the total, the expansion of United States products as a share 
of total imports, and the large fall in the recorded  market share of African trade partners. The EU 
remains the main source of imports, but its share has decreased (Chart 1.10). 
1.28.  African suppliers, especially Nigeria and other ECOWAS members, have recorded decreases 
in market share according to official statistics. Nigeria is no longer Ghana's most important single 
source, and its share has declined further. A recent World Bank working paper estimates the 
potential for Ghana's bilateral trade with Nigeria at twice the observed flows; given the amplitude 
of informal trade, this estimate could be a reality. Ghana and Nigeria are closely linked, with 
bilateral non-oil trade between the two countries increasing from less than US$15 million 
before 2000 to more than US$130 million in 2010, according to a recent study using UN COMTRADE data.
18 Real trade flows are probably considerably larger. 
1.29.  Ghana's imports of services have more th an doubled since 2006 (Chart 1.11). They mainly 
comprise transportation (freight), which accounts for 49% of total imports. Imports of travel services have declined as a share of the total,  whilst government services have increased. 
1.30.  Exports also started to expand strongly in 2012. Further, there was a structural change 
between 2006 and 2011 in the comp osition of Ghana's exports of services: travel receipts grew 
from 7% of service exports in 1994 to 60% in 1998 , and 62% in 2006, before declining to 37% of 
the total in 2011 (Chart 1.11). Freight and other tr ansportation services exports have increased, 
as have other business services.  
1.31.  Ghana remains a net importer of services, bu t the deficit of the services balance started to 
decrease in 2012 in response to rising services exports. 
 
                                               
17 Drummond, P. and E. Xue Liu (2013). 
18 World Bank (2012b). WT/TPR/S/298 • Ghana 
 
- 22 - 
 
  Chart 1.10 Direction of merchandise trade, 2006 and 2012 
2006 2012
(a)    Exports (f.o.b.)
Middle 
East
10.5% EU (27)
27.9%
Other Europe
1.4%South Africa
28.8%Other 
Africa
6.3%
Total:   US$3.6 billio n Total:  US $15.8 b illion
(b)    Imports (c.i.f.)
EU(27)  
36.3%Europe  
37.8%
South Africa
3.8%Other America
5.0%
India  3.9%Other 
1.1%
Asia
26.6%
Other Africa
16.4%Africa 
20.2%China  9.5%United States
6.6%
EU(27)  
33.1%Europe 
35.2%
Other 
Africa
6.8%China  
17.2%Other 
1.4%
Other 
Europe
2.1%Asia
34.3%
South 
Africa
3.5%Africa
10.3%
Middle East
3.9%Other Asia
12.9%United States
11.2%
Other America
3.7%
America
14.8%
Total:   US$5.3 billion Total:   US$14.0 billion(%)
America  3.8%
Africa 
41.6%America  
3.3%
India
4.2%EFTA
7.7%
Other Asia
13.3%
Other Europe
1.5%Middle  East
0.7%
Togo
5.6%
Middle East
2.6%Other   
0.1%
America
11.7%Other
1.2%
Europe  
42.9%EU (27)
34.2%
Europe  
37.1%
Africa 
40.6%Asia   
8.3%
South Africa
25.8%Asia
9.7%
Other 
Africa
15.7%
Togo
0.0%
EFTA
7.0%
Other Europe
1.8%
(BoP total:  US$13.6 billion)
(BoP total:  US$17.8 billion) 
Source: WTO Secretariat calculations, based on UNSD, Comtrade database; and information provided by the 
authorities. WT/TPR/S/298 • Ghana 
 
- 23 - 
 
  Chart 1.11 Trade in services, 2006-12 
2006 2011
(a)    Exports 
Other 
12.2Other 
24.8Transportation
29.6
Freight insurance 
1.5Government
services, n.i.e.
7.0
Total:   US$1.4 billion Total:  US$1.9 billion
Travel
22.5Other 
18.8
Freight 
insurance 
4.6Transportation
48.3Government
services, n.i.e.
5.9
Travel
12.7Transportation
49.1
Freight 
insurance 
4.6Government
services, n.i.e.
14.7Travel
37.1
Other 
18.8
Total:   US$1.5 billionTotal:   US$3.7 billion(%)
Travel
62.3Government
services, n.i.e.
10.1
Freight 
insurance
0.7
(b)    Imports -3.0-2.0-1.00.01.02.03.04.0
2006 2007 2008 2009 2010 2011 2012Imports Exports Net exports(US$ billion)
Transportation
14.7
 
Note: "Other" covers communications, construction, financial, computer, royalties and licences, personal 
and cultural, and other business services. 
Source: UNCTAD-ITC-WTO Trad e in Services database. 
 WT/TPR/S/298 • Ghana 
 
- 24 - 
 
  1.4  Outlook 
1.32.  The outlook for the Ghanaian econom y is good, as the transport, storage and 
communication sub-sectors are growing at a fast pace to accompany the development of the oil and gas sectors.
19 The wholesale and retail trade, restaurants and hotels sub-sectors are also 
developing rapidly. Foreign investments are important, supported by good governance and 
democratic institutions. Important reforms are already improving access to financing some small and medium size enterprises, thus removing one of the major bottlenecks to growth. 
1.33.  Achieving a durable macroeconomic equilibrium would certainly further improve the outlook 
for the Ghanaian economy and the sustainability of its expansion. At the time of writing this report, macroeconomic imbalances reduce incomes through inflation and currency depreciation, and render the economy particularly vulnerable to potential terms of trade shocks as international 
prices for Ghana's major exports, especially coco a, oil and gold, weaken. In fact, in 2013 the price 
of gold fell by over 25%, its largest annual drop since 1981, and should constitute a strong warning. Cautious macroeconomic management is the best means to ensure sustainable economic 
growth by improving the resilience of the economy to such external shocks.
                                               
19 IMF (2012). WT/TPR/S/298 • Ghana 
 
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  2  TRADE AND INVESTMENT REGIMES 
2.1  General Framework 2.1.  Ghana is a Republic comprising ten administrative regions and 138 districts.
1 In 2013, the 
country completed 20 years of uninterrupted democratic rule and political stability, which explains 
in no small part its remarkable economic and social progression. Its 1992 Constitution separates 
the powers among the President, Parliament, and an independent judiciary. Legislative authority is vested in a unicameral Parliament, currently comprising 275 members, who are elected by 
universal suffrage every four years. The next legislative election is planned for December 2016. 
Executive power is constitutionally vested in the President, who is elected by popular vote every 
four years, with a maximum of two consecutive term s of office. The next presidential elections are 
scheduled also for December 2016. The President is the Head of State, head of Government, and 
Commander-in-Chief of the armed forces; he appoints Ministers, subject to parliamentary 
approval. 
2.2.  The body of law consists of the Constitution of 1992
2, laws, ordinances, orders, regulations 
and customary or traditional law. Domestic law has precedence over treaties and international 
agreements. Once ratified by Parliament, trea ties and international agreements must be 
incorporated into domestic law before they have standing in Ghanaian courts. The Constitution has 
been under review since January 2010; issues under review of interest to international trade and 
investment include ownership of land by foreig ners (section 2.4.6) and a recommendation for a 
review of taxation of mineral resource extraction to achieve better financial returns to the State (section 4.5.2).
3 
2.3.  Recent reforms in Ghana's legislation since 2007 have been significant (Table 2.1). These 
reforms have been driven partly by the need  to modernize statutes and bring them into 
compliance with international practice, but also by autonomous policy initiatives designed to 
increase local value added, not always in compliance with Ghana's multilateral commitments (e.g. 
new import taxes (section 2.5).  
2.4.  As defined under the Constitution of 1992, th e judicial system consists of the Supreme Court 
(the highest court), the Court of Appeal, the High Court of Justice, and the lower courts. There are 
also circuit and district community courts. A specialized Commercial Court opened its doors in March 2005, comprising six computerized court rooms. Six judges hear disputes of a commercial nature, including banking and finance issues, the restructuring of commercial debt, 
and intellectual property. The presiding judge acts as the executive and judicial head of the court. 
In addition to secretaries, a court administrator, a registrar and an accountant, a total of 57 staff assure the daily operations of the court. The six court rooms in Accra are fully computerized, and 
routinely provide parties with transcripts of proceedings within 72 hours. The jurisdiction of the 
Court is not restricted territorially, and cases from all over Ghana can be brought before it. The Court is required to conduct mandatory pre-trial conferences within 30 days of written arguments. 
Mediation is handled by judges who are trained mediators. This reportedly allows a solution about 
40% of the cases. The average time to resolve a commercial dispute that has not been settled at the mediation level, is 3-6 months.
4 Other specialized courts currently in operation include the 
financial, land, labour, human rights and domestic violence courts. The latest addition is the Tax 
Court, which has been established to cater for tax-related issues.5  
                                               
1 Each region is headed by a Regi onal Minister who is the direct representative of the Government. The 
districts are administered by assemblies of directly el ected and appointed members. Each Assembly is headed 
by a District Chief Executive, a ppointed by the President and appr oved by the District Assembly. 
2 The Constitution is available from the Judicial Se rvice of Ghana (also on th e Government's e-service 
website): http://www.judicial.gov.gh/constitution/home.htm . 
3 White Paper On The Report Of The Constitution Review Commission Presented To The President. 
Viewed at: http://www.ghana.gov.gh/images/documents/crc_report_white_paper.pdf . 
4 International Finance Corporation (2007). 
5 There is no website for Ghana's specialized courts, but judicial-related information can be found on the 
Judicial Service website http://www.judicial.gov.gh/ . WT/TPR/S/298 • Ghana 
 
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  Table 2.1 New trade-related la ws and regulations since 2007  
Area Legislation / Regulation 
Investment  Ghana Investment Prom otion Centre Act, 2013 (Act 865) 
Dispute resolution Alternative Dispute Resolution Act, 2010 (Act 798) 
Customs duties and VAT Customs and Excise (Duties and Other Taxes) Amendment Act, 2013 (Act 863) 
Import duty increase Special Import Levy Act, 2013 (Act 861) 
Standards/SPS Public Health Act, 2012 
SPS Plants and Fertilizer Act, 2010 (Act 803) 
 Plant Protection Regulations, 2012 (L.I. 2193) 
 Plant and Fertilizer Regulations, 2012 (L.I. 2194) 
Export finance Export Development and Agricultural Investment Fund, 2011 (Act 823) 
Free zones  Free Zone Act, 1995, Regulations of 2010 
Scrap metal Ban on Exportation of Ferrous Scrap Metal (L.I. 2201) (2013) 
Energy Electricity Regulations 2008 (L.I. 1937) 
 Electricity Transmission (Technical, Operational and Standards of Performance) Rules, 
2008 (L.I. 1934) 
Mining Local Content and Local Participation in Petroleum Activities - Policy framework, 
February 2010  
Petroleum Revenue Management Act, 2011 (Act 815) 
Financial services Borrowers and Lenders Act of 2008 (Act 773) 
Non-Bank Financial Institutions Act (Act 774) 
 Non-Bank Financial Institutions Act, 2008 (Act 774) 
 Banking (Amendment) Act, 2007 (Act 738) 
Communications Electronic Communications Amendment Act, 2008 (Act 786) 
 The National Communications Authority Act, 2008 (Act 769) 
 The Electronic Communications Act, 2008 (Act 775) 
 The Electronic Transactions Act, 2008 (Act 772) 
 The National Information Technology Act (Act 771) 
 Communications Service Tax (Amendment) Act, 2013 
Transport Ghana Shipping (Amendment) Act, 2011  
 Road Traffic Regulation, 2012 (L.I. 2180) 
Source: WTO Secretariat based on information provided by the Ghanaian authorities. 
2.5.  In addition to the Commercial Court, the Ghana Arbitration Centre, a private initiative 
established in 1996, also provides a forum for the resolution of disputes. It can handle commercial, 
corporate, and securities arbitration, but was apparently not intensively used.6 The Alternative 
Dispute Resolution Act, 2010 (Act 798) now regulates arbitration in Ghana, and repealed the 
Arbitration Act, 1961 (Act 38). Though not based on the UNCITRAL Model Law, the ADR Act has 
adapted and modified some of the key provisions of the Model Law. The Act will apply to all arbitral 
proceedings of enterprises having their seat in Ghana unless the parties otherwise agree. 
2.6.  The Government (Cabinet) initiates and formulates most legislative proposals. Acts are 
passed by Parliament and then given assent by the President. Ministers may also issue 
administrative regulations in accordance with powe rs conferred to them under specific legislation. 
All laws and regulations are published in the Ghana Gazette , which is not apparently available 
through any official Internet website. 
2.7.  The Ministry of Trade and Industry (MOTI)  has overall responsibility for the formulation, 
implementation, and monitoring of Ghana's trade po licies. The Ministry in charge of Finance (MOF) 
has responsibility for the Customs Division of the Ghana Revenue Authority (formerly the Customs, 
Excise and Preventive Services (CEPS)). The other key ministries for international trade and investment are those in charge of food an d agriculture (sections 3.3.1.4 and 4.2.1); 
communications (section 4.7.2)
7; lands and forestry (section 4.3); mines and energy (sections 4.4 
and 4.5); tourism and creative arts (section 4.7.4); environment, science and technology; 
transport (section 4.7.3); and foreign affairs. Ghana's National Development Planning Commission (NDPC) advises the President of the Republic on  development planning policy and strategy by 
providing a national development policy framework.
8 
2.8.  A number of other important sector-specific statutory authorities and agencies fulfil 
trade-related functions. These include the Ghana Export Promotion Authority (section 3.2.1), the 
                                               
6 The Centre has a website that do es not appear to be updated often and where the new law could not 
be found: http://www.ghanaarbitra tion.org/index.html . 
7 Ministry of Communications on line information. Viewed at: http://www.moc.gov.gh/ . 
8 National Development Planning Commission  (NDPC) online information. Viewed at: http://www.ndpc. 
gov.gh/ . WT/TPR/S/298 • Ghana 
 
- 27 - 
 
  Ghana Free Zones Board (section 3.2.8), the Co coa Marketing Board (COCOBOD, section 4.1.2), 
the Ghana Minerals Commission (section 4.5.2), and the Ghana Tourist Board (section 4.7.4). Foreign investment is promoted and monitored by the Ghana Investment Promotion Centre (section 2.4.3). Standards are the responsi bility of the Ghana Standards Authority 
(section 3.3.1.1), food and drugs security is under the responsibility of the Food and Drugs 
Authority, while sanitary and phytosanitary regu lations are handled by the Veterinary Services 
Directorate and the Plant Protection and Regulatory Services Department respectively 
(section 3.3.1.4). 
2.9.  The Government has as a stated priority to establish a genuine dialogue with the private 
sector on trade and regional integration.
9 It has therefore established a working relationship with 
private-sector bodies, research bodies, consumer organizations, and other representatives of civil 
society. Private-sector interests are represented by a number of bodies, including the Association 
of Ghana Industries (AGI), which comprises 1,200 entities registered to operate in Ghana.10  
2.2  Trade Policy Objectives 
2.10.  Trade and investment are both featured prominently in Ghana's overall economic policy, as 
embedded in the GSGDA (section 1.2). According to a recent Aid-for-Trade case Study on Ghana by the OECD, Ghana's trade policy is mainstreamed , and is recognised as an integral part of 
overall policy.
11 
2.11.  The Government seeks to attract foreign investment and promote exports, whilst at the 
same time ensuring that selected ac tivities are reserved for Ghanaians. 
2.12.  The October 2004 Trade Policy, a policy document to provide broad guidelines and 
objectives for the Government's trade and related policies, has been reviewed in the context of 
Ghana's long-term strategic vision of achieving middle-income status by 2015 and becoming a leading agro-industrial country in Africa. A new National Export Strategy for the Non-Traditional 
Export Sector, 2012-16, and a national Export De velopment Programme provide guidelines for the 
implementation of Ghana's domestic and international trade agenda. Neither of these documents appears to be posted on the MOTI's website.
12  
2.13.  Ghana's trade policy reforms have particular ly emphasized improving the competitiveness of 
exporting companies and helping them to diversif y their exports and penetrate new markets. In 
particular, the Government has successfully focused on removing barriers to trade and investment, on reducing the cost of doing business (section 2.4.1); and on investing in modern infrastructure.  
2.3  Trade Agreements and Arrangements 
2.14.  Ghana is a member of the WTO, of the Af rican Union, of the Economic Community of West 
African States (ECOWAS).  
2.3.1  World Trade Organization 
2.15.  Ghana is an original Member of the WTO since 1 January 1995. It extends at least MFN 
treatment to all its trading partners. The WTO Agreements have not been directly incorporated 
into Ghana's domestic legislation and as such cannot be invoked before national courts. Ghana has 
signed the Fourth and Fifth Protocols to the GATS. It is not party to the Information Technology Agreement or any of the plurilateral agreements concluded under the WTO.  
2.16.  Between 1 January 2007 and 31 December 2013, Ghana made a rather modest total of nine 
notifications to the WTO, under respectively the Agreement on Import Licensing (section 3.1.8), 
the TBT Agreement (section 3.3.1), and the Agre ements on Antidumping and on Subsidies and 
Countervailing Measures (section 3.1.9). Ghana has not been involved in any disputes under 
the WTO. It has been a third party in one case, re lating to the EU's regime for the importation, 
                                               
9 IMF (2012). 
10 Association of Ghana Industries (A GI) online information. Viewed at: http://agighana.org/ . 
11 OECD (2012). 
12 The website is: http://www.moti.gov.gh/home /index.php/news-a-events . WT/TPR/S/298 • Ghana 
 
- 28 - 
 
  sale, and distribution of bananas.13 Ghana participated in the Doha negotiations and shared the 
views of, inter alia,  the ACP Group, the African Grou p, the G-90, and "W52" sponsors 
(section 3.3.2).  
2.17.  During the period 2007-13, Ghana continued to be an important beneficiary of the technical 
assistance and training furnished by the WTO, wi th 183 participants in 97 activities over the 
seven years, or an average of 26 participants per year in 14 activities (Chart 2.1).  
Chart 2.1 Ghana's participation in WTO TRTA activities, 2007-13 
010203040506070
Agriculture Multiple topic
coursesSPS TBT Trade facilitation Other topicsShare of total participants (Total: 357)
Share of total estimated costs (Total: CHF1.2 million)(Per cent)
 
Note: Training and technical assistance activities, including eTraining. 
Source: WTO TRTA Database. 
2.18.  In addition, during the 2007-13 period, 203 Ghanaian residents successfully completed an 
online course (out of a total of 251 participants). Each of these courses involved 50 to 60 hours of 
training. The high number of participants in th ese online courses is perhaps the result of the 
introduction of a requirement to have successfully completed online training in order to be chosen for other activities. In terms of subjects covered, the topics with the largest participation from 
Ghanaians (including e-learning) were the multip le-topic courses (e.g. Geneva course, regional 
trade policy course, internships, etc.), SPS issues, agriculture, TBT issues and trade facilitation.  
2.19.  As far as infrastructure is concerned, Ghan a has five WTO reference centres, all of which are 
operational, and national enquiry points on sanitary and phytosanitary (SPS) measures, technical 
barriers to trade (TBT), trade-related aspects of intellectual property rights (TRIPS) and services 
respectively, with MOTI as the focal point.  
2.3.2  ECOWAS 
2.20.  Ghana is a founding member of the Economic Community of West African States (ECOWAS) 
since its establishment in May 1975.
14 The ECOWAS institutions are the Authority of Heads of 
States and Government, the Council of Minister s, the Community Parliament, the Economic and 
Social Council, the Community Court of Justice, and the Commission based in Abuja.15 Within the 
ECOWAS, the Ghanaian Government has focused on  the developmental aspects of integration, 
including infrastructure, and energy.  
                                               
13 Dispute DS27. Viewed at: http://www.wto.org/english/tratop_e/dispu_e/cases_e/ds27_e.htm . 
14 The other members of ECOWAS are: Benin, Burkin a Faso, Cape Verde, Côte  d'Ivoire, the Gambia, 
Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo. 
15 ECOWAS Commission online information. Viewed at: http://www.ecowas.int . WT/TPR/S/298 • Ghana 
 
- 29 - 
 
  2.21.  ECOWAS was notified to the WTO in 2005 under the Enabling Clause.16 ECOWAS aims at the 
establishment of an economic union in West Africa. However, on trade-related issues, progress has been slow. 
2.22.  A common external tariff was finally adopted in October 2013 and its implementation 
expected as from January 2015. The removal of non-tariff barriers to intra-ECOWAS trade still 
constitutes a priority.
17 After more than two decades, the ECOWAS Trade Liberalization Scheme 
(ETLS) of 1993 still faces a substantial number of challenges and lacks implementation, as 
reported regularly by the West Africa Trade Hub.18 Consequently, the share of intra-ECOWAS trade 
in Ghana's total trade has remained low.  
2.23.  Under the ETLS, products deemed of Community origin are in principle traded across 
borders duty-free, and products should not face any quantitative restriction. However, to benefit 
from the ETLS, both companies, and each of thei r products, must be registered as meeting the 
rules of origin specified under the scheme. Registration of products involves a lengthy, two-staged approval process (first by a national committee that forwards the decision to a regional 
committee) that takes about 4–6 months. Many private sector operators consider this process 
cumbersome, resulting in a low number of registered products. It has not been possible to determine the number of companies and produc t s  r e g i s t e r e d  b y  G h a n a  u n d e r  E C O W A S .  A  
preferred trader system to allow faster border crossing for products from such enterprises has 
been agreed but has not been implemented.
19  
2.24.  While Ghana has made significant progress with respect to its transit procedures 
(section 3.1.3), better functioning of the 1982 ECOWAS Inter-State Road Transit (ISRT) scheme 
would allow goods to flow more easily across ECOWAS borders, and thus contribute to raising local 
incomes. A single ECOWAS logbook and bond are st ill waiting to be implemented, although they 
would considerably aid transit flows.  
2.25.  Ghana has implemented its Axle Load Policy, also inspired by ECOWAS provisions. The cost 
of overloading on Ghana's transit corridors was estimated by the Ghana Statistical Service at between 1 and 1.5% of GDP, constituting a trem endous burden on Government budget. The Road 
Traffic Regulation, 2012 (L.I. 2180) was passed in July 2012. Accordingly, the permissible axle 
load limit for a six-axle articulated truck has been reduced from the current 60 tonnes to 51 tonnes. The policy would also ensure a better organization of stakeholders to comply with the new axle load regulation. WAEMU member countries and Ghana agreed to control axle load 
in 2005 and agreed to a Road Map in March 2010. 
2.26.  In order to promote better co-ordination and co-operation between border authorities of 
ECOWAS Member States, Ghana opened its third border information centre at the Côte d'Ivoire-
Ghana Noe-Elubo border in May 2013, with the support of the West Africa Trade Hub and the 
Ghana Shippers' Authority.
20 The first initiative of this kind was launched in 2011 at the Ghana-
Togo border. Border Information Centres have proven to reduce congestion and harassment, 
mainly by removing some of the unofficial checkpoints. The Noe-Elubo Border Information Centre 
now welcomes inquiries and requests from trader s seeking assistance in crossing the border. 
Another centre exists at the main Ghana-Burkina Faso border.  
2.27.  Ghana is also reportedly about to start operating one-stop joint border posts (JBP), in which 
Customs work together with the border agency of the neighbouring country to streamline 
border-crossing operations. Each country takes responsibility only for incoming traffic, and sharing of information takes place on a when-needed basi s. JBPs are under project at the main borders 
with Burkina Faso, Côte d'Ivoire, and Togo. 
2.28.  ECOWAS protocols establish the free movement of persons: ECOWAS citizens with a valid 
travel document and health certificate may stay for up to 90 days in another ECOWAS member 
State before being formally required to apply for residency. Such application should be 
                                               
16 WTO document WT/COMTD/N/21, 26 September 2005. Viewed at: https://docs.wto.org/dol2fe/ 
Pages/SS/directdoc.aspx?filename=Q:/WT/COMTD/N21.pdf . 
17 IMF (2012). 
18 USAID and West Africa Trade Hub (2012). 
19 World Bank (2012b). 
20 UNCTAD (2013b). WT/TPR/S/298 • Ghana 
 
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  automatically granted. ECOWAS citizens should be treated identically to national citizens in 
establishing and running a business. 
2.29.  The ECOWAS' Monetary Cooperation Programme, adopted in 1987, called for the creation of 
a single monetary zone in the sub-region. As part of their efforts to implement the EMCP, the 
Heads of States of six ECOWAS Members States who are not members of the West African 
Economic and Monetary Union (WAEMU) have work ed since 2000 to establish a second monetary 
zone in the sub-region, the West African Monetary Zone (WAMZ). The WAMZ would comprise 
Ghana, as well as the Gambia, Guinea, Liberia, Ni geria, and Sierra Leone. The long-term strategy 
is to build enough reserves to cover imports for at least six months to meet the set WAMZ convergence criteria (Table 1.3).
 The currently foreseen date of creation of WAMZ is 2015.  
2.30.  The West African Monetary Institute is located in Accra; its role is to undertake technical 
preparations for the establishment of the West African Central Bank and the introduction of a 
single currency for the WAMZ.21 
2.3.3  The Economic Partnership Agreemen t (EPA) with the European Union (EU) 
2.31.  Ghana's two-way trade with the EU is sizeable, amounting to US$14 billion in imports (33% 
of Ghana's total imports) and US$16 billion in expo rts (27% of Ghana's total exports). Ghana, with 
Côte d'Ivoire, is the only West-African country to have initialled a bilateral "Stepping Stone 
Economic Partnership Agreement" with the EU at  the end of 2007, pending the completion of a 
comprehensive EPA with the whole West African region. The declared objective of the EPA was to avoid disrupting trade between ACP countries and the EU on the expiry (on 31 December 2007) of 
the trade provisions set out in Annex V of th e Cotonou Agreement, and the WTO waiver that 
covered them. 
2.32.  Following the initialling of this Agreement on 13 December 2007, Ghana was added to the 
list of countries benefiting from an EPA trade regime established by Council Regulation (EC) 
No. 1528/2007 (hereinafter referred to as Regulation 1528), adopted on 20 December 2007. This 
Regulation provides for an advance unilateral application by the EU of the EPA trade regime. This Regulation expires with the entry into force of the EPA (Preamble, paragraph 5), or if the State 
concerned indicates that it does not intend to ratify the EPA or does not do so within a "reasonable 
period of time".  
2.33.  This EPA was supposed to come into force as soon as the ratification, or other internal 
procedures, had been fulfilled, as provided for in Article 75. According to Article 75.5, it is to be 
applied provisionally by each of the Parties ten days after receipt of a notification of provisional 
application. Only the EU sent such a notificati on, in 2008. In June 2013, the EU requested that 
Ghana and seven other ACP countries sign their EPA by October 2014 or risk losing the trade 
preferences granted to them unilaterally by the EU.
22  
2.34.  Under Articles 12 and 13 of the EPA, pr ovisionally implemented through Regulation 1528, 
products originating in Ghana are imported into the EU free of customs duties, except for arms and 
ammunition, sugar (HS tariff heading 1701), and rice (HS subheading 1006 10 10) which will 
remain dutiable until the entry into force of the EPA.23  
2.35.  Prior to Regulation 1528, the EU's average un-weighted applied tariff to goods of Ghanaian 
origin stood at approximately 0.1%. In addition to these preferences, which are preserved under 
the EPA, the main advance in terms of access to the EU market for Ghanaian products involves 
915 tariff lines (9.4% of the total) for all agri-food products, which were not free of customs duties under the Cotonou Agreement, but became duty free on 1 January 2008 under Regulation 1528. 
                                               
21 West African Monetary Institute (WAMI (Gulf House,  Accra, Ghana)) online information. Viewed at: 
http://www.wami-imao.org/ . 
22 European Commission online information. Viewed at: http://trade.ec.europa.eu/doclib/docs/2009/ 
september/tradoc_144912.pdf . 
23 Sugar would be imported duty-fr ee and licence-free under the EPA, bu t may be subject to a tariff-rate 
quota until September 2015, as defined in Annex 1 of the EPA. Thereafter imports of sugar from Ghana would 
be subject to a specific safeguard re gime based on volume, whereby the MFN tariff could be reintroduced if the 
European Union market price of white sugar fell during  two consecutive months below 80% of the European 
Union market price for white sugar prevaili ng during the previous marketing year. WT/TPR/S/298 • Ghana 
 
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  2.36.  Customs duties on products originating in  the EU that are imported into Ghana would be 
reduced or eliminated according to the tariff dismantling schedule found in Annex 2 of the EPA. Under Article 8, "the Parties recognise the challenge that the elimination or substantial reduction of custom duties provided for in this Agreement ca n pose to Ghana, and they agree to establish a 
dialogue and cooperation in this field". Ghana undertook under the EPA to completely liberalize 
imports listed in a first product group (Group A, covering 15.4% of total tariff lines) at the end 
of 2012; this would be in addition to the 3.2% that are already duty free on an MFN basis. For 
Group B, which includes mainly raw material and equipment for existing and infant industries, 
tariff liberalization was planned to start in January 2012, and should be completed by December 2016. Group C would be liberalized between January 2019 and December 2022. At the end of the transition period, Ghana would have liberalized 80.9% of tariff lines on imports from 
the EU. 
2.37.  Products in Annex 2 Group D would not be liberalized by Ghana under the EPA, in order to 
protect sensitive sectors and safeguard tax receipts. These account for 19.1% of tariff lines and 
include cotton, pearls and precious stones, textiles, olive oil and table olives, meat, crustaceans, 
milk and milk products, coffee, cocoa, tobacco, fruits, cement, beauty and make-up products, rubber and its articles, and automobiles. The CET rates applied to these products range 
from 5 to 20% (section 3.1.4.2). The EDAIF levy (section 3.1.4.4) would be eliminated 
in January 2018 under the EPA.  
2.38.  Except under exceptional circumstances,  the EPA precludes any new customs duty on 
exports, or equivalent charges on trade between the Parties, and increases in those currently 
applied as from the date of entry into force of the Agreement (Article 16). However, under 
Article 15.2, as part of the finalization of th e  c ommon e xte rnal tarif f of EC OW AS, G hana would  
have the possibility to revise its customs duties on imports originating in the EU insofar as the 
general incidence of these duties (within the mean ing of Article XXIV:5(a) of GATT) was not higher 
than that resulting from the duties specified in the EPA.  
2.39.  Imports originating in a Party would not be directly or indirectly subject to internal taxation 
or other internal charges of any kind exceeding those which are directly or indirectly applicable to 
like domestic products (national treatment, Ar ticle 19). Furthermore, the Parties would refrain 
under the EPA from applying any other form of taxation or other internal charges with the aim of providing protection to domestic production. National treatment would also apply not only to 
taxation and charges, but also to the laws, regu lations and requirements applicable to the sale, 
offering for sale, purchase, transportation, distribution or use of imported products on the domestic market; and to any internal regulations relating to the mixing, processing or use of 
products according to specified quantities or proportions. However, the EPA would not apply to the 
laws, regulations, procedures or practices relating to public procurement (Article 19.4). 
2.40.  Article 17 of the EPA (MFN clause for free trade agreements) stipulates that after the 
Agreement's entry into force, the EU would grant Ghana any more favourable treatment as a 
result of its accession to a "free trade agreement"  with third parties. Ghana would have the same 
obligation, but only if the third party is a "major trade partner". If the Ghanaian Party obtains, in an agreement with a major trade partner, substantially more favourable treatment than that 
offered by the EU, the two Parties shall consult each other and decide together on the 
implementation of such treatment (the EU "MFN" clause). 
2.41.  The EPA also contains detailed regulato ry provisions (for example, on customs and 
administrative cooperation and technical regulations including SPS). Under Article 75.8, this 
Agreement "shall be superseded by a global EPA co ncluded at the regional level on the date of its 
entry into force. In this case, the Parties shall endeavour to ensure that the global EPA at regional 
level preserves most of the benefits obtained by Ghana under this Agreement". 
2.3.4  Other agreements 2.42.  Ghana was among the 34 countries initially declared eligible for the programme established 
by the United States under the African Growth and Opportunity Act (AGOA) in October 2000.
24 
Eligible countries are granted duty- and quota-free access to the U.S. market until 2015 for a 
                                               
24 Viewed at: http://trade.gov/agoa/ . The AGOA is covered by a waiver of the United States' GATT 
obligations (WTO document WT/L/754, 29 May 2009. Viewed at: http://ptadb.wto.org/ ptaDocuments.aspx ). WT/TPR/S/298 • Ghana 
 
- 32 - 
 
  range of goods, including selected agricultural and textile products. Also, since 2002 special 
provisions allow the incorporation by Ghana of third-country fabrics in apparel subsequently exported to the U.S.; another provision concerns handmade (so-called "Category 9") products and articles made from  ethnic fabrics.  
2.43.  U.S. imports from Ghana are modest, at below US$300 million in 2013. More than 
two-thirds of imports enter MFN-duty-free, and mostly consist of cocoa beans. Some 18.7% of 
imports are MFN dutiable despite the existence of  the AGOA preferences; about 5% enter duty 
free under GSP tariff treatment (Chart 2.2). 
Chart 2.2 U.S. imports from Ghana, 2013 
0.9
5.448.2
4.921.118.70.8
0102030405060708090100
AGOA GSP MFNMFN = 0%HS 2709. Crude petroleum (5.25-10.5 ₵/bbl)
HS 1801. Cocoa beans
HS 1805. Cocoa powder
Other(% of total imports)
Total imports: 
US$309 millionDutiable
 
Source: US International Trade Commission. Viewed at: http://dataweb.usitc.gov/ . 
2.44.  According to the authorities, Ghana mainta ins a number of bilateral trade agreements but 
none of these agreements (which have not been communicated to the WTO Secretariat) contain 
any preferential trade provisions.  
2.4  Investment Regime 
2.4.1  Overview 
2.45.  Probably in great part thanks to its rich natural resources and relatively favourable business 
environment, Ghana regularly ranks among the larg est recipients of foreign direct investment 
(FDI) in Africa (section 1.3 and Chart 1.7). Most of these investments, however, go to the mining 
sector. The challenge facing the Government, therefore, is to incite private investors to channel 
more of these investment flows to sectors other than extractive industries, such as agriculture, agri-food industries and other manufacturing sectors.  
2.46.  In order to promote sustainable growth and job creation, notably through investment, the 
Government has set to improve the business environment facing Ghanaian enterprises, particularly the micro, small and medium-sized agribusinesses th at account for the bulk of economic activity. 
The most recent Doing Business Report 2014 (Table 2.2) reflects the impressive progress in the 
"ease of doing business" rank achieved since 2007, and Ghana's enviable position in regional comparison. Ghana has been ranked several times amongst the top ten reformers worldwide by the World Bank's Doing Business team.  
2.47.  Most progress seems to have been made in the area of obtaining credit, an issue often 
listed as the main obstacle to production and trade in Sub-Saharan Africa. Ghana is among the 10 economies making the fastest progress in facilitating access to credit since 2009, notably under 
the Non-Bank Financial Institutions Act (section 4.7.1). In 2008, Ghana also began reforming its WT/TPR/S/298 • Ghana 
 
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  legal framework and registration mechanism for movable collateral, under the Borrowers and 
Lenders Act of 2008 (section 4.7.1.1).25 
Table 2.2 Business environment in Ghana and neighbouring countries, 2007 and 2014 
 Ghana Cameroon  Côte d'Ivoire  Togo  Benin Nigeria  
 2007 2014 2007  2014  2007  2014  2007  2014  2007 2014 2007  2014  
Ease of doing business 
(ranka) 94 67 152 168 141  167 151 157 137 174 108 147 
Starting a business              
- Ranka 145 128 152 132 154 115 169 168 126 139 118 122 
- Costb 47.2 16 151 36 134 44 253 121 211 123 52  58 
- Number of days 18 14 45 15 45 8 64 19 31 15 35 28 
Trading across borders              
Ranka 61 109 140 159 132 165 64 110 130 119 137 158 
Number of export 
documents 6 6 9 11 9 9 6 6 7 6 9  9 
Time to export (days) 21 19 27 23 23 25 24 24 34 26 26 22 
Cost to exportc 624 875 1,032  1,379  1,744  1,990  872 1,015  965 1,030 1,026  1,380  
Documents to import 
(number) 7 7 9 11 10 10 7 7 8 7 13 13 
Time to import (days) 50 42 33 25 43 34 29 29 38 27 46  33 
Cost to importc 842 1,360 1,918  2,167  2,457  2,710  1,040  1,190  1,222 1,520 1,047  1,695  
Getting credit 117 28 117 109 143 130 143 130 117 130 83  13 
Registering property             
- Rank 49 49 159 159 127 127 155 159 85 137 170  185 
- Number of procedures 6 5 5 5 6 6 5 5 4 4 13 13 
- Costd 1.7 1.2 18.9 19.1 14.0 10.8 13.9 11.4 15.9 11.7 212  20.8 
a The rankings for 2007 and 2014 are based on 175 an d 189 countries and economies, respectively. 
b Percentage of income per capita. c US$ per container. d Percentage of property value. 
Source: World Bank (2006); and World Bank (2014), "Doing Business". Viewed at: 
http://www.doingbusiness.org/reports /global-reports/doing-business-2014 . 
2.48.  The cost of registering property is low in  Ghana, even by OECD standards. In most OECD 
countries, the cost of registering property amounts to 5-6% of its value, whilst the proportion has 
decreased in Ghana to 1.2% of the property value on average. This is also a significant advantage 
including for exporting or importing companies, particularly in regional comparison. Ghana has also made major progress in terms of reducing the cost of starting a business since 2007, notably 
with the introduction of a customer services desk at the one-stop shop. Nevertheless , this cost 
remains high, and Ghana's ranking low, in regional comparison. 
2.49.  As can be seen from Table 2.2, trading across borders is the area where Ghana does not 
fare particularly better than its neighbours, and moreover where the situation has deteriorated 
considerably since 2007. According to the Doing Business Indicators, in particular, customs clearance and scanning procedural inefficiencies add to the time required to import (section 3.1.2).  
2.4.2  Legal framework for businesses  
2.50.  All companies wishing to invest in Ghana, whether locally or foreign-owned, must register 
with the Registrar General's  Department (RGD), in accordance with either the Companies Code 
of 1963 or the Partnership Act of 1962.
26 According to the authorities, there are no differences in 
procedures between foreign-owned or locally-owned businesses aside from the minimum 
investment requirements for foreigners, which have increased substantially (section 2.4.3). According to 2004 data from the Registrar General, 90% of registered companies are micro, small 
or medium enterprises (i.e. that have less th an 99 employees and fixed assets of up to 
US$1 million).
27 
2.51.  As part of the "eGov" project to modernize tax administration, the Ghana Revenue Authority 
(GRA) and the RGD were in 2013 in the process of re-registering all existing businesses and 
                                               
25 Borrowers and Lenders Act, 2008 (Act 773). Viewed at: http://www.bu.edu/bucflp/files/2012/01/ 
Borrowers-and-Lenders-Act-No.-773.pdf . 
26 These Acts were not found on any official website. 
27 Agyapong D. (2010). WT/TPR/S/298 • Ghana 
 
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  taxpayers. In order to conduct business, persons and entities are also required to register once at 
any office of the Domestic Tax Revenue Division of the GRA to obtain a Tax Identification Number (TIN). 
 
2.4.3  The new Ghana Investment  Promotion Centre (GIPC) Act 
2.52.  Provisions on foreign investment were contained in the Ghana Investment Promotion Centre 
(GIPC) Act of 1994 (Act 478). This legislation was replaced by the GIPC Act of 2013 (Act 865).28 
One of the purposes of the 2013 GIPC Act was to extend the coverage of the Act to all 
investments, domestic or foreign.29 Act 865 therefore eliminates most sectoral exemptions and 
embraces all sectors, including mining and petroleum enterprises, which were hitherto not covered by Act 478 (however, see section 2.4.6 below).  The GIPC is in charge of investment promotion and 
registration under the Act.
30 However, foreign investors may also be required to register with the 
Minerals Commission or the Ghana Free Zone Board (section 3.2.8), as the case may be; the same 
investor can apply for both free zone and GIPC Act status.  
2.53.  The minimum capital investments that mu st be made by foreign companies have been 
substantially increased. The minimum initial investment for a foreign-owned company is 
US$500,000, up from US$50,000 prior to the passage of Act 865; for a joint-venture, it is US$200,000, up from US$10,000. "Trading" enterprises must invest US$1,000,000 (up from 
US$300,000 until 2013) and employ 20 skilled Ghanaian  staff (section 2.4.5). Act 865 introduces a 
provision that requires Ghanaian partners in joint ventures to have not less than 10% equity participation, and prohibits the transfer of that equity to a non-Ghanaian in order to avoid the 
circumvention of the higher foreign capital requirements. 
2.54.  Any enterprise that is not wholly-Ghanaian owned must register with the GIPC, indicating its 
activity and the amount of foreign capital invested. The GIPC undertakes to perform the 
registration within five working days. Registration fees apply in the case of foreign-owned 
companies; they are described on the GIPC's website, and must be renewed every two years 
against payment of US$500. Additional fees apply for work permits for foreigners. In addition, 
foreign investors have to prove the transfer of the required capital, and submit information on the 
proposed investment project, including equity structure, major activities, employment, and 
environmental impact. 
2.4.4  Incentives granted to investors 2.55.  The Act continues to guarantee foreign invest ors unconditional transferability of dividends or 
net profits, and remittance of proceeds on sale or liquidation of their enterprises. Provisions under 
the Act also include guarantees against expropriation, dispute settlement procedures, immigrant quotas that increase in proportion to the foreign paid up capital (Article 30) , and transferability of 
earnings.  
2.56.  Numerous incentives designed to provide an attractive environment for investors have 
accumulated over the years, to form a particularly complex web of domestic and border, direct and 
indirect tax holidays, exemptions, concessions and other measures. These incentives are not 
specified under the GIPC Act; however, the Act refers to several laws under which the incentives may be granted.  
2.57.  Investors importing their inputs must apparently apply for the exemptions or privileges on a 
consignment-by-consignment basis. Requests for duty exemptions must be lodged first with the 
Ghana Investment Promotion Centre and are subjec t to a fee that depends on the invoice value; 
for example, the fee is US$500 for an invoice va lue of up to US$100,000; for an invoice value 
greater than US$1million, the fee is US$5,000 (0.5%).
31 The application for the tax exemption 
must then be submitted physically to the Customs Head Office, but only after arrival of the goods in port. The letter giving the resulting ruling must be released by Customs for delivery to the port 
                                               
28 The Act was viewed at the GIPC website: http://www.gipcghana.com/images/docs/laws/GIPC%20Act 
%202013.pdf . 
29 The Act was viewed at: http://www.ghanatrade.gov.gh/file/gipc%20laws/gipc-act-478.pdf . 
30 GIPC online information. Viewed at: http://www.gipcghana.com/ . 
31 GIPC online information. Viewed at: http://www.gipcghana. com/invest-in-ghana/ doing-business-in-
ghana/starting-a-business.html . WT/TPR/S/298 • Ghana 
 
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  of entry before goods can be cleared at the concessionary rate. This results in additional port and 
storage charges; it ties up goods in inventory; and the process invites and encourages the payment of unofficial facilitation fees.  
2.58.  With respect to direct taxation, as at January 2014 investors in the production of 
non-traditional exported products pay a company tax rate of 8% instead of the general common 
rate of 25-30%. Most importantly, the new GIPC Act provides for specific incentive packages to be negotiated for "strategic or major investments" on a case-by-case basis (Article 26 (4)). According 
to the authorities, most FDIs take place under this provision, whereby companies establish a "wish 
list" of desired exemptions. Nevertheless, these discretionary tax incentives may actually rank rather low in the priorities of investors in making investment decisions. 
2.4.5  Restrictions on foreign investment 
2.59.  The GIPC Act excludes non-Ghanaians, including ECOWAS citizens, from participating in a 
number of economic sectors, and the list has been made longer in the new Act 865. The excluded sectors include the "sale of anything whatsoever in a market, petty trading, hawking or selling 
from a kiosk at any place"; operation of taxi and car rental services with fleets of less than 
25 vehicles (up from ten until 2013); lotteries; and the operation of beauty and barber salons. Newly excluded sectors as a result of the Act include the production of exercise books and basic 
stationary, the retail of pharmaceutical products, and the production and marketing of sachet 
water (Article 27). Another novelty of the July  2013 amendment is that foreign companies are 
precluded from printing of recharge scratch cards for sale to local subscribers of mobile telecommunication services. The Minister may by legislative instrument amend the list of activities 
reserved for Ghanaian citizens and enterprises that  must be wholly-owned by Ghanaian citizens.  
2.60.  Special provisions apply to partly or totally foreign-owned "trading enterprises", i.e. 
involved only in the purchasing and selling of imported goods and services. Such enterprises must 
invest a minimum foreign equity of US$1 million (up from US$300,000 until 2013) instead of the 
amount of US$500,000 required in other sector s, and employ 20 skilled Ghanaian staff. 
2.61.  These foreign investment restrictions have already in the past been considered as running 
counter to existing ECOWAS treaties and protocols, particularly the ECOWAS Protocol on the Right 
of Residence and Establishment.
32 The authorities have confirmed, nevertheless, that the new 
provisions also apply to citi zens of ECOWAS Member States. 
2.62.  Specific rules continue nevertheless to apply to foreign investment under separate statutes 
in a number of sectors, including fishing (section 4.2), maritime transport (section 4.7.3.2), and 
postal services sub-sectors (section 4.7.2.4), as well as to companies listed on the Ghana Stock Exchange (section 4.7.1.3). There is compulsory local participation in mineral and oil projects, 
whereby the Government acquires a 10% equity in ventures, at no cost (sections 4.4 and 4.5). As 
noted, one of the objectives of the amendment to the GIPC Act was to reunite some of these sector-specific provisions under a single Statute.  
2.4.6  Land policy 
2.63.  Article 266 of the Constitution establishes that foreigners cannot own land in Ghana. 
However, they may lease residential, commercial, industrial, or agricultural land for renewable periods of up to 50 years. A national land policy and a land administration project, both launched 
in 1999, seek to capture the problems associated with land ownership, tenure, and development. 
The Government is attempting to find a framework of co-operation between mainly large and foreign investors on the one hand, and small local landowners on the other. Such a framework 
would organize leases so as to increase production without evicting local populations in this 
process.  
2.64.  In particular, a new Lands Commission Act (Act 787) was enacted in 2008, bringing the 
then Land Valuation Board, the Survey Depart ment, the Land Title Registry and the Lands 
Commission under the umbrella of the new Lands Commission as divisions, to provide services to clients in a more cost-effective and efficient manner.  
                                               
32 Ghana News Link online information. Viewed at: http://www.ghananewslink.com  [7 July 2012]. WT/TPR/S/298 • Ghana 
 
- 36 - 
 
  2.65.  The second phase of the Land Administration Project (LAP 2) was launched in 2011 for 
another 5 years and this is currently ongoing. Two other legislations were at the drafting stage, 
namely the Land Use Bill (for the Town and Country Planning Department) and a Land Code for the new Lands Commission, attempting to harmonize the numerous legislations pertaining to land 
administration to ensure that a proper framework is set up for an efficient land administration 
system both in the formal and the customary set up.  
2.66.  Objectives include the provision of a directory jointly by MOFA, GIPC and the Lands 
Commission, as well as the creation of a land bank that would inform on soil fertility, availability of 
infrastructure, hydrological information, etc. The underlying principle will be that these lands are voluntarily donated by the communities in consultation with inhabitants, and surveyed to cut down on acquisition time and cost by prospective investors. There would be no compulsory acquisition 
by the State in this regard but the State is at liberty to donate land that had been previously 
acquired. A model lease agreement has been devised as a guide for both investors and land owners, to create an equitable platform for both investors and land owning communities, in line 
with international best practice. 
2.4.7  International Investment Agr eements (IIAs) and dispute settlement 
2.67.  According to compilations from UNCTAD's database on International Investment 
Agreements (IIAs), Ghana has signed 26 bilateral investment treaties, eight of which have entered 
into force.
33 These agreements are essentially intended as a means of promoting foreign inward 
investment insofar as they protect investors from policy reversals; many of these treaties contain investor-state dispute settlement provisions. Ghana is also a member of the Multilateral 
Investment Guarantee Agency (MIGA) and the International Centre for the Settlement of 
Investment Disputes (ICSID). 
2.68.  Double taxation agreement treaties are in force with Belgium, France, Germany, Italy, 
the Netherlands, South Africa, Switzerland
34, and the United Kingdom.35 Finally, Ghana has signed 
the Convention on Mutual Administrative Assistance in Tax Matters, a multilateral agreement developed jointly by the Council of Europe and the OECD. This Convention, which entered into 
force in Ghana in October 2013, aims to counter cross-border tax evasion and ensure compliance 
with national tax laws.
36  
                                               
33 UNCTAD, Division on investment and ente rprise online information. Viewed at: http://www.unctadxi. 
org/templates/DocSearch.aspx?id=779  and http://unctad.org/Sections/dite_pcbb/docs/bits_ghana.pdf . 
Agreements have been signed and ratified with: Ch ina, Denmark, Germany, Malaysia, the Netherlands, 
Switzerland, and the United Kingdom. Agreements have been signed, but are not yet ratified with: Benin, Burkina Faso, Côte d'Ivoire, Cuba, Eg ypt, France, Guinea, India, Mauritania, South Africa, the United States, 
Yugoslavia, and Zambia. 
34 Double taxation agreement between Sw itzerland and Ghana (2009). Viewed at: http://www.admin. 
ch/opc/fr/federal-gazette/2009/1919.pdf . 
35 United Kingdom Ghana Double Taxation Convention of 1993. Viewed at: http://www.hmrc.gov.uk  
36 The Convention was viewed at: http://www.oecd.org/ctp/exchange-of-tax-information/ENG-
Amended-Convention.pdf . WT/TPR/S/298 • Ghana 
 
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  3  TRADE POLICIES AND PRACTICES BY MEASURE 
3.1  Measures Directly Affecting Imports 3.1.1  Registration requirements  3.1.  Ghana has no restrictions on the rights  of individuals and entities, including foreign 
companies, to import goods and services, and there are no special registration requirements for 
importers. There is however a special registration requirement to set-up as a "trader of imported 
products", which has been criticized by foreign traders as discriminatory treatment towards 
foreigners (section 2.4.5).
1  
3.2.  As part of the "eGov" project to modern ize tax administration, the Ghana Revenue Authority 
(GRA) and the Registrar General were in 2013 in the process of re-registering all existing businesses and taxpayers, including importers. In order to conduct business, persons and entities 
including importers are required to register once at any Domestic Tax Revenue Division office to 
obtain a Tax Identification Number (TIN). Since 2013, this TIN is required as part of the importation and exportation process (section 3.2.2.4). 
 
3.1.2  Customs clearance an d other import procedures 
3.3.  The Government of Ghana has started to make the considerable efforts that are currently 
required to facilitate import procedures, so as to bring them into accordance with the standards of 
a modern economy. These efforts are taking place both autonomously and under the WTO. The 
implementation of the recent Agreement on Trade Facilitation would help. Particular efforts are 
needed in the following areas which have been most problematic: slow customs clearance, duplication of agencies involved in the importation process, duplication of documentation; 
antiquated legislation; duplication in technical conformity assessment agencies; and inefficient port 
clearance processes. As a result, companies complain about cumbersome import processes which frequently take more than the statutory five days, and therefore trigger additional demurrage 
costs (section 4.7.3.3), which add to the cost of imports. 
3.4.  The main actors in the import process are the Customs Division of the Ghana Revenue 
Authority (hereafter "Customs"); the destination inspection companies (DICs); the Ministry of 
Trade and Industry (MOTI); the Food and Drug  Administration (FDA); the Ghana Standards 
Authority (GSA); and the Ghana Port Authority. In the context of this review, a large number of 
other fee-collecting entities have been identified with the same task of controlling compliance with 
import procedures, including a joint revenue task force, a presidential task force and the national 
security personnel. These would benefit from rati onalization as they slow the clearance process 
and increase its cost. 
3.5.  Since 2001, the Ghana Community Network (GCNet) system is a public-private partnership 
that acts as a "single window" platform for Custom s, at a cost of 0.4% of the value of imports, 
payable by the importer.
2 According to Customs, in part because of connectivity problems, manual 
processing of customs declarations is quite freq uent, and the GCNet system needs to be upgraded 
and updated. Also, there is currently no link  between GCNet and the ASYCUDA operated by 
neighbouring countries. According to the authorities, however, it would be possible to export (and import) data across the two softwares if appropriate legal and administrative mechanisms were put in place. 
3.6.  Since April 2000, a compulsory Destination Inspection Scheme has replaced pre-shipment 
inspection, with the result that this inspection is carried out at arrival. In 2013, five different destination inspection companies (DIC) shared the market according to the country of origin of 
imports: BIVAC, GSL, Ghana LI NK, ICS, and WEBB FONTAINE.
3 Inspection is mandatory for all 
                                               
1 World Bank (2012b). 
2 GCNet online information. Viewed at: http://www.gcnet.com.gh/home/ . 
3 The allocation of business by country is specified in the Customs Guide. Viewed at: 
http://www.ghanatrade.gov.gh . WT/TPR/S/298 • Ghana 
 
- 38 - 
 
  imports of US$3,000  and above, unless waived by MOTI.4 The fee for destination inspection is 1% 
of the c.i.f. value of g oods. The compliance and verification work of the DICs largely duplicates the 
work of Customs. In its 2012 Budget Statement, the Government announced its intention not to renew the contracts of the DICs when they expire  in 2015, and to rely exclusively on Customs to 
inspect imports.  
3.7.  The main legislation governing import proc edures is the Customs, Excise and Preventive 
Service (CEPS) Law (Management) (Duties, Rates and Other Taxes) of 1994, and the Export and 
Import Act 1995 (Act 503). These texts are not apparently available on any official website, nor 
are they available electronically. According to the authorities, the CEPS law has been under review 
for some time. In June 2013, in order to improve transparency, Customs published a new book entitled the 2012 Customs Tariff Schedules, based on the new HS2012 classification. This 
document consolidates most of the border measures that were maintained by Ghana as at 
end-2012. Neither this document nor Ghana's tariff are available on an official website. No legislation apparently regulates the use of scanners. 
3.8.  The documents that are currently required overlap each other and, for this reason, deserve 
t o  b e  r a t i o n a l i z e d  s o  a s  t o  s p e e d  t h e  i m p o r t  process, thus facilitating trade. The following 
documents contain duplicate information:  
 the Import Declaration Form (IDF);  
 the Final Classification and Valuation Report (FCVR);  
 the Customs Declaration; and  
 the Supplementary Information Document (SID).
5  
3.9.  Further, imports must also be accompanie d by a tax clearance certificate issued by the 
Internal Revenue Service on the basis of the import er's TIN; this certificate attests compliance by 
taxpayers with income tax obligations. Since 2001, a fee of 1% of the c.i.f. value is payable on 
goods imported in commercial quantities that are not covered by a valid certificate.  
3.10.  Two parallel import management systems cu rrently operate at Ghana's Customs, one run by 
Customs, and another operated by the DICs. The two entities are involved in both documentary 
inspection and in the examination process. This causes duplication as importers or their agents 
have to re-key the same information in both the FCVR and also into Customs Declarations. Both Customs and the inspection companies may delay clearance because of missing or inaccurate documents, examination of samples, etc. 
3.11.  The goods to be cleared are directed by th e DICs (on the basis of the FCVR) to one of the 
clearance channels (Green, Yellow, or Red). The yellow channel involves more intensive scrutiny of documents than the Green channel and, in principle, scanning (see below). Goods are directed to 
the red channel by Customs if they are classified  as "high risk goods" (HRGs), defined under the 
Export and Import Act of 1995, to which special clearing and control procedures apply for health and security reasons (section 3.3.1).  
3.12.  The outcome of these procedures is that a particularly large share of imports (about 50% of 
consignments) are still subject to physical inspection of goods, although no statistics were available on this matter in the context of this review; however, Customs have indicated that the 
aim is to reduce this share to 20%. As the goods have to be moved from one inspecting agency to 
the other for the examinations to take place, discrepancies in their working hours cause long 
delays, not to mention divergences between examination results. 
3.13.  Although scanners have been installed at Tema Port to facilitate examination, the process 
leading to the scanning needs improvement. Containers, when they are offloaded from ships, are 
                                               
4 Below this threshold, an abridged FCVR may be subm itted. In addition, a "head load" option for land 
borders was introduced in October 2007, waiving the destination inspection requirement for imports of single 
items and of goods in very small quantities. 
5 COTECNA (2012), Ghana Export Guidelines, February. Viewed at: http://www.cotecna.com . WT/TPR/S/298 • Ghana 
 
- 39 - 
 
  brought out of the Port, to be subsequently returned into the Port for scanning. This not only 
causes delays but also additional costs to the importer, who has to pay not only for the moving of goods, but also for the Ghana Integrated Cargo Clearance System (GICCS)
6 tracking device, when 
the goods, are being returned into the Port for scanning.  
3.14.  As a result of these inefficiencies, cust oms clearance alone usually takes between one and 
three days, and may reach a staggering seven days, as witnessed in Aflao.7 Delays and 
bottlenecks in the clearance process have thus increased the costs of importing in recent years 
(Table 2.3). A "Gold Card" form of Authorized  Economic Operators was progressively being 
introduced, which would give some selected importers the opportunity to avoid the intrusive physical examination of goods, and access to a truly paperless transaction system. 
3.15.  Finally, the authorities also identified a seri ous weakness in the import process as it stood in 
early 2014. For example, under the "Premises exam ination" system, post-clearance verification 
may be carried out by Customs at the importer 's premises. Under the "Clearance on permit" 
facility, consignments can be removed from the port without applicable duties being paid, pending 
subsequent parliamentary approval. The use of both facilities was curtailed in 2013, after they had 
been widely abused, resulting in co nsiderable losses of Customs revenue. 
3.16.  No statistics were made available on the use of appeals against customs decisions. These 
are to be lodged with the Commissioner of Customs, and thereafter with the Committee of Appeals 
in the Ministry of Trade and Industry. 
3.17.  Ghana has reportedly been implementing the WTO Agreement on Customs Valuation since 
April 2000, although the underlying legislation has yet to be adopted. It has not been possible to 
obtain the legislation and applicable regulations under which the DICs operate; according to the 
authorities, they are contractually responsible for verifying the valuation of imported goods. The DICs maintain databases on reference values and send their import price data to Customs on a 
regular basis.  
3.1.3  Transit 3.18.  Aware that cumbersome transit procedures hinder road-based trade and, hence economic 
development, Ghana has modified several features of its transit system since its last TPR. As a 
result, transit flows have nearly doubled, showing that traders respond rapidly and favourably to appropriate trade facilitation measures (Chart 3.1). Since September 2007, Customs has used transponders to track transit trucks in real time, operated by the GCNeT. Each transit vehicle pays 
a fee for this service, a cost that is approximately the same as what was formerly paid for the 
customs escort, which has been abolished. In addition, cameras installed at Ghana's territorial entry and exit points, as well as inland transit check points, verify the integrity of transit vehicles 
and their loads.
8 This reform has reportedly cut the time to process and transport goods crossing 
the country, thereby significantly lowering transport costs.9  
3.19.  Goods in transit are exempt from customs duties. Guarantee bonds are usually issued to 
ensure that a customs department receives import duties, taxes, and other charges if shipments 
are unloaded unlawfully during transit. Historically, transit guarantees were granted by several agencies in Ghana. But in 2006 the State Insurance Company was granted a monopoly to do so, and the formula for calculating the guarantee fe e was changed from 0.5% of the value of the 
cargo to 0.5% of the taxes and duties that are due.  
3.20.  The State Insurance Company is now connected to the GCNeT and has real-time access to 
the data needed to verify and release transit guarantees. Most transit bonds are now promptly 
released, and customs staff are being trained to enter all information at border crossings. But 
these guarantees are currently valid only in Ghan a. When leaving Ghana, a transit operator must 
acquire a transit guarantee for the other country  requiring another bureaucratic process and 
expense. Ghana's guarantee reform was intended to be a first step toward instituting a liberalized 
                                               
6 GICCS online information. Viewed at: https://giccs.gcnetghana.com/giccs/jsf/common/NewCargo 
TrackingLoginPage.jsf . 
7 USAID and West Africa Trade Hub (2012). 
8 World Bank (2010a). 
9 World Bank (2010a). WT/TPR/S/298 • Ghana 
 
- 40 - 
 
  "chain of guarantors" agreed to at a 2006 conferen ce attended by most transit guarantors in West 
Africa. Under that agreement the transit fees paid  at the beginning of transit journeys would be 
shared between the guarantors of the countries through which transit vehicles pass.  
Chart 3.1 Ghana's trade with ECOWAS partners, 2007-13 
(US$ million) 
54112523125
1841821761869155
1528220.1
3323968142131
1148236129
75929477597123
15192228275251
0 5 0 1 0 01 5 02 0 02 5 03 0 03 5 04 0 04 5 05 0 02013201220112010200920082007Benin Burkina Faso Côte d’Ivoire
Mali Niger Nigeria
Togo
 
Note: F.o.b. basis. 
Source: Information provided by the authorities. 
3.21.  According to available information, tran sit times for the 818 kilometres between Tema and 
Paga, Ghana's border post with Burkina Faso, decreased from 5 days in 2006 to 3.3 days for containerized trucks, and 3.4 days for non-containerized trucks. In 2008 transit times were further 
reduced to 3 days for both bulk and containerized vehicles.  
3.22.  Transit guarantees are now released immediately on arrival at a Ghanaian border crossing. 
Customs have more reliable documentation systems for controlling the start and end of transit 
procedures. Documents issued by customs authorities at the origin of transit shipments should be 
verified by customs posts in each transit country , permitting the timely lifting of the guarantee 
bond attached to the shipment.  
3.23.  With respect to documentation, the West African Economic and Monetary Union (WAEMU) is 
spearheading efforts to initiate the ISRT (section 2.3.3), based on electronic sharing and exchange 
of the appropriate documentation, and has focused on  creating such a system in specific corridors 
rather than across the WAEMU or ECOWAS. The ISRT  convention signed between the authorities of 
Ghana, Mali, and Burkina Faso in May 2006 still need s to be ratified by Ghana's Parliament. Once 
that is done, the electronic ISRT could become effective as soon as the electronic infrastructure is in place along the trade corridor to ensure that ISRT electronic documents travel seamlessly 
through the customs management system with full legal validity.  
3.24.  Non-tariff barriers along road journeys and during the passing through ports, especially the 
many inspections, document checks, and related bribes have long attracted complaints from operators in the region. This situation creates substantial delays, raises the cost of doing business, 
and ultimately makes countries and businesses less competitive. Data collected by the West Africa 
Trade Hub indicates that the costs and delays of these non-tariff barriers have decreased modestly since monitoring began in 2006.
10  
                                               
10 World Bank (2010a). WT/TPR/S/298 • Ghana 
 
- 41 - 
 
  3.1.4  Tariffs and other charges  
3.1.4.1  Overview 3.25.  Ghana's import taxation is voted by Parliament through an Act, generally in the context of 
the annual Budget Law. Tariff Interpretation Orders can be also issued directly by Customs, for 
example to interpret Budget Law concerning tariffs. Changes in tariffs and other taxes affecting 
imports have been frequent in recent years, ge nerally for budgetary reasons, pointing to the 
instability of Ghana's Tariff, particularly by regional comparison. 
3.26.  As noted in Section 1, the Government's main objective when implementing recent 
increases in import taxation has been to increase budgetary revenues and decrease the corresponding deficit. Targets have been set annua lly for revenue collection, and have been met or 
exceeded in recent years thanks to a strengthenin g of Ghana's tax administration. According to the 
Ghana Revenue Authority (GRA), Customs collected nearly a third (32.7%) of all tax revenue 
in 2012 (Chart 3.2), or over 38% if excise taxes are added (these are levied mainly on imported items). Border taxation of trade thus plays an important role in public sector revenue.  
3.27.  Fiscal revenue derived from imports is presented in Table 3.1.  
3.28.  The Most Favoured Nation (MFN) tariff has been modified frequently between 2007 
and 2013. In particular, Ghana has abolished non- ad valorem  tariffs which applied to petroleum 
products, and replaced them with ad valorem  rates. Tariff reductions have occurred for fish livers, 
roe and flour (from 20% to 0-5%); seeds (from 10 -20% to duty-free); clinker and bulk cement 
(20% to 10%); gasoil and related products (10% to  duty-free); fishing yarn and equipment (10% 
to duty-free); mosquito nets (20% to duty-free); some agricultural equipment (10% to duty-free), 
contact lenses (10% to duty-free); certain musical instruments (20% to duty-free), and solar 
lamps and kerosene lanterns (from 20% to 0% and 10% respectively).  
3.29.  Among the notable increases, tariffs on mobile phones and on line telephone sets with 
cordless handsets have risen from duty-free to 20%.
11 Those on rough wood have experienced the 
same increase. Duties on ferrous and non-ferrous metal scrap have increased from 5-10% to 20%. Air coolers, battery charges have recorded increases from 0-5% to 10%. 
3.30.  The number of other duties and charges (ODCs) and their incidence have also increased 
since 2007 (section 3.1.4.4).  
Chart 3.2 Tax revenue by category, 2013 
(% of total tax revenue) 
Taxes on income and 
property 45.2%Domestic VAT 8.4%Domestic NHIL 1.3%Communication service 
tax 1.1%
Import exemptions 5.6%
Imports and exports 
16.2%
Excise duty and 
petroleum tax 5.7%
External VAT 13.7%
External NHIL 2.7%International 
trade
38.3%
2013 total: ₵15,130 million
 
Note: Projection outturn for 2013. NHIL stan ds for National Health Insurance Levy. 
Source: Ghana's Ministry of Finance, 2014 Budget Statement and Economic Policy. 
                                               
11 Tariff Interpretation Order No. 2013/001 of 26 July 2013. WT/TPR/S/298 • Ghana 
 
- 42 - 
 
  Table 3.1 Fiscal revenue derive d from imports, 2006, 2010-13 
(₵ millions) 
 2006  2010  2011 2012 2013a 
Imports taxes (tariffs and ODCs) 417  1,051  1,511 1,887 2,357  
 % of imports 6.7%  6.7%  6.3% 5.9% 6.6%  
VAT 359  970 1,389 1,716 2,070  
 % of imports 5.8%  6.2%  5.8% 5.4% 5.8%  
NHILb .. 183 285 364 414  
 % of imports .. 1.2%  1.2% 1.1% 1.2%  
Petroleum tax 407  256 439 544 604  
 % of imports 6.6%  1.6%  1.8% 1.7% 1.7%  
Excise duty 71  118 168 186 256  
 % of imports 1.1%  0.8%  0.7% 0.6% 0.7%  
Total 1,254  2,578  3,791 4,697 5,701  
         
Import value  6,189  15,630  24,142 31,899 35,889  
Duty collection ratio (total/import value) 20.3%  16.5%  15.7% 14.7% 15.9%  
Memo:         
Import exemptions 0.0 386 635 779 848 
 % of imports 0.0%  2.5%  2.6% 2.4% 2.4%  
.. Not available. 
a Projection outturn. 
b National Health Insurance Levy (NHIL). 
Source: WTO Secretariat estimates based on Bank of Ghana Statistical Bulletin (August 2010; June 2011; 
March, June, and December 2012; and March, June, September, and December 2013); and Ghana's Ministry of Finance, 2014 Budget Statement and Economic Policy. 
3.1.4.2  Applied MFN tariffs 
3.31.  The 2013 applied MFN tariff, based on the HS2012 classification, has 6,062 lines. Tariffs are 
now all ad valorem  (Table 3.2). The tariff consists of zero, 5%, 10%, and 20% bands. The 10% 
and 20% rates are each applicable to more than 40% of tariff lines. Some 12.2% of all tariff lines 
are duty-free, up from 11.9% in 2007. There are no seasonal or variable tariffs. Tariffs are applied 
on the c.i.f. value of goods.  
3.32.  In addition, Ghana has, as of January 2014, converted its specific duties on petroleum 
products to ad valorem  rates (Table 3.3). 
3.33.  As illustrated in the Chart 3.3, some 43.5% of all tariff lines are subject to tariffs of 20%, 
thus increasing their import price considerably. 
3.34.  The average unweighted applied MFN tariff in 2013 was 12.8% (Table 3.3), slightly up from 
12.7% in 2007. The coefficient of variation of 0. 5 indicates moderate tariff dispersion. MFN rates 
on agricultural products (WTO definition) are ge nerally higher, with an average of 15%, with the 
highest rates applicable to dairy products and tobacco. Tariffs on non-agricultural products remain 
lower, with an average of 12%. Using the ISIC (R evision 2) definition of sectors, agriculture 
remains the most tariff-protected sector, with an average tariff of 15.1%, followed by manufacturing (12.7%), while imports of mining and quarrying products face the lowest tariffs 
(11.2%).  
3.35.  Together with other ECOWAS States, Ghana has since 2001 gradually harmonized its Tariff 
with the WAEMU Common External Tariff (CET). Ne vertheless, although Ghana's current tariff is 
based on the WAEMU four tariff-bands of ze ro, 5%, 10% and 20%, thousands of lines differ 
(Table 3.4). For example, in many cases the WAEMU tariff on machinery and other equipment is 5%, whereas Ghana's tariff is duty free. WT/TPR/S/298 • Ghana 
 
- 43 - 
 
  Table 3.2 Structure of MFN tariffs, 2007 and 2013 
(%) 
  2007 2013 Final 
bounda 
1. Bound tariff lines (% of all tariff lines) 14.9 16.3 16.3 
2. Simple average tariff rate 12.7 12.8 92.3 
 Agricultural products (WTO definition) 17.5 17.3 96.5 
 Non-agricultural products (WTO definition) 12.0 12.0 40.3 
 Agriculture, hunting, forestry, and fishing (ISIC 1) 15.7 15.1 95.3 
 Mining and quarrying (ISIC 2) 11.4 11.2 Unbound  
 Manufacturing (ISIC 3) 12.6 12.7 90.8 
3.  Duty-free tariff lines (% of all tariff lines) 11.9 12.2 0.0 
4.  Simple average rate of dutiable lines only 14.4 14.6 92.3 
5.  Tariff quotas (% of all tariff lines) 0.0 0.0 0.0 
6. Non- ad valorem  tariffs (% of all tariff lines) 0.2 0.0 0.0 
7.  Non-ad valorem  tariffs with no AVEs (% of all tariff lines)  0.2 0.0 0.0 
8.  Domestic tariff peaks (% of all tariff lines)b 0.0 0.0 0.0 
9.  International tariff peaks (% of all tariff lines)c 41.9 43.5 100.0 
10. Overall standard deviation of applied rates 6.9 7.0 19.3 
11. Nuisance applied rates (% of all tariff lines)d 0.0 0.0 0.0 
a Based on 2013 tariff schedule. Calculations are based on bound tariff lines consisting of 989 bound 
tariff lines, of which 972 are fully bound and 17 partially bound. 
b Domestic tariff peaks are defined as those exceed ing three times the overall simple average applied 
rate. 
c International tariff peaks are defined as those exceeding 15%. d Nuisance rates are those greater than zero, but less than or equal to 2%. 
Note: The 2007 tariff is based on HS02 nomenclature consisting of 5,943 tariff lines (at 10-digit tariff line 
level). The 2013 tariff is based on HS12 nomenclatu re consisting of 6,062 tariff lines (at 10-digit 
tariff line level). 
Source: WTO Secretariat calculations based on tariff information provided by authorities. 
Table 3.3 Non ad valorem  duties on petroleum products, 2014 
HS code Description 2007 Specific rate 
(₵/litre) 2014 duty 
(%) 
2710111000  Partially refined oil - white spirit  0.023314  10 
2710113100  Light oils, aviation spirit  0.008826  0 
2710113200  Light oils, motor spirit, super  0.023314  5.97 
2710113300  Light oils, motor spirit, ordinary  0.023314  5.97 
2710113900  Light oils – other, n.e.s.  0.023314  .. 
2710114100  Medium oils, kerosene type jet fuel  0.008826  0.85 
2710114200  Medium oils, other kerosene  0.008826  0.85 
2710114900  Medium oils – other, n.e.s.  0.008826  .. 
2710115100  Heavy oils, gas oil  0.017319  3.53 
2710115200  Heavy oils, domestic fuel oil  0.005420  3.05 
2710115300  Heavy oil, light fuel oil  0.005420  .. 
2710115400  Heavy oil, heavy fuel oil I  0.023314  .. 
2710115900  Heavy oil, heavy fuel oil II  0.023314  .. 
.. Not available. 
Source: Ghana Customs tariff. WT/TPR/S/298 • Ghana 
 
- 44 - 
 
  Chart 3.3 Breakdown of applied MFN tariffs, 2013 
(12.2)
(5.8)(38.5)(43.5)
0102030405060708090100
05001,0001,5002,0002,5003,000
Duty-free 5 10 20Number of lines
Cumulated percentage (right-hand scale)Number of tariff lines Per cent
 
Note: Figures in parentheses indicate the share of total lines. 
Source: WTO Secretariat calculations based on tariff information provided by authorities. 
Table 3.4 Comparative analysis of Gh ana's applied MFN tariff, 2007 and 2013 
 Ghana 
2007a Ghana 
2013b WAEMU 
2012c ECOWAS 
2015c 
Total 12.7 12.8 12.3 12.3 
HS 01-24 17.0 15.9 15.6 16.1 
HS 25-97 12.0 12.2 11.6 11.4 
By WTO category     
WTO agricultural products 17.5 17.3 14.9 15.6 
Animals and products thereof 19.4 19.0 18.5 23.9 
Dairy products 20.0 20.0 14.4 16.0 
Fruit, vegetables, and plants 18.9 18.3 17.6 17.6 
Coffee and tea 20.0 20.0 17.2 12.0 
Cereals and preparations 17.8 16.2 12.7 13.5 
Oils seeds, fats, oil and their products 14.6 14.6 10.5 14.1 
Sugars and confectionary 11.1 11.0 13.3 13.8 
Beverages, spirits, and tobacco 19.8 19.8 19.0 17.0 
Cotton 10.0 10.0 5.0 5.0 
Other agricultural products, n.e.s. 14.4 15.1 9.4 9.5 
WTO non-agricultural products 12.0 12.0 11.8 11.7 
Fish and fishery products 11.1 9.8 15.5 15.4 
Minerals and metals 12.2 12.5 11.8 11.7 
Chemicals and photographic supplies 11.9 12.1 7.7 8.0 
Wood, pulp, paper, and furniture 16.1 16.8 11.3 11.4 
Textiles 16.9 16.8 16.5 16.0 
Clothing 20.0 20.0 20.0 20.8 
Leather, rubber, footwear, and travel goods 14.3 15.0 14.2 12.9 
Non-electric machinery 2.8 3.1 7.3 7.0 
Electric machinery 10.3 10.6 11.3 11.2 
Transport equipment 6.0 5.5 11.0 10.2 
Non-agricultural products, n.e.s. 15.6 15.0 14.3 14.3 
Petroleum 9.0 4.3 7.9 7.9 WT/TPR/S/298 • Ghana 
 
- 45 - 
 
   Ghana 
2007a Ghana 
2013b WAEMU 
2012c ECOWAS 
2015c 
By ISIC sectord     
ISIC 1 - Agriculture, hunting and fishing 15.7 15.1 13.0 11.5 
ISIC 2 - Mining and quarrying 11.2 11.2 5.0 5.1 
ISIC 3 – Manufacturing 12.6 12.7 12.4 12.5 
By stage of processing     
First stage of processing 14.1 13.3 11.1 10.2 
Semi-processed products 13.0 13.3 10.2 10.0 
Fully processe d products 12.3 12.5 13.7 14.0 
a The 2007 tariff is based on HS02 nomenclature consisting of 5,969 tariff lines (at 10-digit tariff line 
 level).  b The 2013 tariff is based on HS12 nomenclature consisting of 6,062 tariff lines (at 10-digit tariff line 
 level).  
c The WAEMU tariff schedule consists of 2012 tariff rates (5,550 tariff lines (at 10-digit tariff line 
level)) based on the HS 2007 nomenclature. ECOWAS tariff schedule is based on HS 2012 nomenclature consisting of 5,899 tariff lines (at 10-digit tariff line level). For the purpose of comparing duty rates between 2013 applied MFN tariff rates and UEMOA and ECOWAS tariff rates, Ghana's tariff schedule (2013) is used as a basis.  
d International Standard Industrial  Classification (Rev.2). Electricity, gas and water are excluded 
 (1 tariff line). 
Source:  WTO Secretariat calculations, based on data provided by the authorities. 
3.36.  In October 2013, Ghana together with other ECOWAS Member States committed to 
implement the Common ECOWAS tariff on 1 January 2015.12 As can be seen from Table 3.5, this 
would actually imply a lowering of Ghana's unweighted average tariff, both for agricultural and 
non-agricultural products. The adoption of the ECOWAS Tariff would however bring considerable changes to Ghana's tariff structure. Seven of the WTO tariff categories would record tariff increases, in some cases by a large margin. Perhaps most worryingly, average tariffs on 
non-electrical machinery and transport equipment would nearly double, with obvious 
consequences for user industries. Similarly, tariffs on petroleum would also nearly double. The three food products whose average tariffs would in crease are animal products, with average duties 
increasing to 24% on meat products, fish and fishery products, and sugars and confectionary. 
3.37.  For the fifteen other tariff categories mentioned in Table 3.5, adoption of the ECOWAS Tariff 
would actually lead to lower tariff averages. Substantial declines would be recorded for such 
products as coffee and tea, cotton, chemicals, w ood, pulp, paper and furniture, and products from 
the mining and quarrying industries except petroleum. 
3.38.  For several products important to the food security of Ghana or to the basic needs of its 
citizens, adoption of the ECOWAS CET could place an upward influence on prices for consumers as 
a result of the tariff increases. This is the case for cement, unprocessed fish, household cooking 
palm oil, poultry and sugar. For the latter, raisin g the duty from the present 10% to the CET rate 
of 20% would challenge the country's soft drinks industry in particular to adjust to the higher input 
cost. On the other hand, rice, wheat and maize could become cheaper for consumers as Ghana 
lowers its present tariffs to the ECOWAS CET rate. On cotton, the lowering of duties to the CET rate of 5% for the least-processed forms of cotton and 10% for the most commonly traded forms 
of cotton could help lower costs on fabric and textile production dependent on imported inputs in 
Ghana.  
3.1.4.3  Tariff bindings 3.39.  Ghana bound 14.7% of its tariff lines in the Uruguay Round. However, following the change 
in tariff classification which occurred in 2012 as  a result of Ghana's adoption of the HS 2012 
classification, the share of the 2013 tariff that is bound has increased to 16.3% (Table 3.3). In agriculture, all applied tariffs are bound, mainly at a final ceiling rate of 99%; lower bound rates of 
40% and 50% were set on a few agricultural prod ucts. Products subject to the 40% bound rate 
include live poultry, milk and cream, wheat, and oil cake; the tariff on te a was bound at 50%. Very 
few non-agricultural tariffs – 1% of tariff lines – are bound, at ceiling rates of mainly 30% and 
40%, but also at 35% and 45%. These bindings are mainly on inputs for agricultural production, 
                                               
12 ECOWAS Commission (2013), "Communiqué final", Session extraordinaire de la Conférence des Chefs 
d'État et de Gouvernement de la CEDEAO, Dakar, 25 October. WT/TPR/S/298 • Ghana 
 
- 46 - 
 
  such as fertilizers, as well as tools and equipment.  In general, there is a considerable discrepancy 
between bound and applied rates (Chart 3.4). 
Chart 3.4 Average MFN tariff rates, by WTO product categories, 2013 
(%) 
0102030405060708090100110
1 2 3 4 5 6 7 8 9 1 01 11 21 31 41 51 61 71 81 92 02 12 22 32 41 WTO Agriculture
2 Animals and products3 Dairy products
4 Fruit, vegetables, and 
plants5 Coffee and tea6 Cereals and preparations7 Oil seeds, fats and oils 
and their products      8 Sugars and confectionary
9 Beverages, spirits, and tobacco
10 Cotton
11 Other agricultural products12 WTO non-agriculture13 Fish and fishery 
products
14 Minerals and metals15 Chemicals and 
photographic supplies16 Wood, pulp, paper, and 
furniture
17 Textiles18 Clothing19 Leather, rubber, 
footwear, and travel goods20 Non-electric machinery
21 Electric machinery
22 Transport equipment23 Non-agricultural products24 PetroleumApplied rates
Bound rates
Average applied rate
(12.8%)Average bound rate
(92.3%)
 
Note: Product categories, clothing (18), leather (19) , electric machinery (21), and petroleum (24), are 
 fully unbound. 
Source: WTO Secretariat calculations, based on data provided by the authorities. 
3.1.4.4  Other duties and charges  
3.40.  In the GATT/WTO, Ghana bound other duties and charges (ODCs) at zero on 
non-agricultural and most agricultural goods, and 15% on some agricultural goods, including milk 
and cream, eggs, tea, wheat, and oil cake. In reality, numerous ODCs are applied on all imports, 
and their number and incidence have increased. Table 3.5 contains those duties, charges, taxes and fees that are charged on imports in addition to  the tariff; in total, they add seven percentage 
points to the tariff, in addition to domestic indirect taxes (e.g. Value Added Tax (VAT), National 
Health Insurance Levy, excise). 
3.41.  In July 2013, Under Tariff Interpretation Order No. 2013/001 of 26 July 2013, the 
Commissioner of Customs announced a Special Import Levy Act providing for an additional levy 
of 2% on the c.i.f. value of all imported prod ucts, except machinery and equipment listed under 
Sections 84 and 85 of the Tariff for which the new levy would be only 1%. This Order also specifies a number of exemptions for petroleum prod ucts and fertilizers (HS 27.09, 27.10 and 
HS Chapter 31), which add to the complexity of  Ghana's Tariff and increases the cost of 
compliance with its provisions.  
3.42.  No import insurance certificate is required by Customs at the time of import. However, 
Customs levy 0.875% of the f.o.b. value of imported goods that do not carry an insurance 
certificate.   WT/TPR/S/298 • Ghana 
 
- 47 - 
 
  Table 3.5 Other duties and charges levied on imports, 2013 
(%) 
Description  Rate (%) Base 
ODC levied on imports only    
GCNet charge 0.4 f.o.b. 
ECOWAS levy 0.5 c.i.f. 
Export Development and Agricult ural Investment Fund (EDAIF) 0.5 c.i.f. 
Processing fee (on certain ex empted imports) 1 c.i.f. 
Destination inspection fee  1 c.i.f. 
Special Import Levy Act 2013 1-2 c.i.f. 
Total: Charges applied to only imports 5.4-6.4  
ODCs levied on imports and domestic consumption:   
Value Added Tax 15 c.i.f. plus import duty 
National Health Insurance Levy 2.5 c.i.f. plus import duty 
Excise duties  5-140 c.i.f. plus import duty 
Withholding tax IRS 1 c.i.f. 
   
Sectoral levies   
IPR protection levy on imported media support 20 c.i.f. 
Environmental tax on sales of plastics 15 c.i.f.  
Overage penalty on imported vehicles 2.5-50 c.i.f. 
Source:  WTO Secretariat. 
3.43.  Under the Customs Overage Penalties Act of 2002, the importation of vehicles older than 
ten years is subject to the payment of a penalty in addition to tariffs and taxes. The penalty ranges from 2.5% to 50% of the c.i.f. value, depending on the type and age of the vehicle.  
3.44.  VAT was raised from 12.5% to 15% in December 2013.
13 VAT applies at a standard rate of 
15% on all domestic and imported goods and services unless otherwise specified. The zero rate applies to goods and services for export. VAT is levied on the c.i.f. value of imports plus tariff and other border taxes, and on the ex-factory pric e for locally produced goods. Some 62% of VAT 
collected in Ghana is levied on imports. The following goods and services are exempt from VAT: 
agricultural inputs, electricity, transportation, construction, pharmaceuticals, bicycles, books, and machinery and equipment. A 2.5% National Health Insurance Levy applies since 2004 on all goods 
and services that are subject to VAT.  
3.45.  Excise duties on tobacco products and beverages are set at 5% on malt drink, 20% on 
mineral water, 25% on alcoholic beverages (other than beer and malt drink) and on non-alcoholic 
beverages (other than mineral water), 50% on beer, and 140% on tobacco products. The taxation 
base is the ex-factory price for locally produced  goods and the c.i.f. price for imported goods. 
3.1.5  Rules of origin 3.46.  As a member of ECOWAS, Ghana offers du ty-free tariff treatment to products deemed to 
originate from other ECOWAS Member States. Under the ECOWAS Protocol, adopted 
in January 2003, goods are considered as originating in the member State where they have been wholly produced or sufficiently transformed. Sufficient transformation is either a change in tariff 
subheading, or local content of at least 30%. No statistics are available to indicate the share of 
imports that enter under ECOWAS rules of origin. 
3.47.  Ghana's last notification to the WTO Committee on Rules of Origin was made in 2004, when 
Ghana notified the ECOWAS preferential rules of or igin, and the absence of non-preferential rules 
of origin.
14 According to a recent World Bank analysis, the registration process is particularly 
cumbersome, and acts as a barrier to duty-free tr ade, affecting both imports and, particularly, 
exports from Ghana (section 3.3.1). A lengthy, two-staged approval process starts within a 
national committee, which subsequently forwards the decision to a regional committee. 
Registration is needed for every individual prod uct a company intends to export under the scheme. 
                                               
13 Value Added Tax Act 2013 (Act 870). Viewed at: http://www.gra.gov.gh/i ndex.php?option=com_ 
content&view=article&id=162:implementation-of-the-value-added-tax-act-2013-act-870&catid=11:latest-
news&Itemid=26 . 
14 WTO document G/RO/N/44, 6 May 2004. Viewed at: https://docs.wto.org/dol2fe/Pages/SS/directdoc. 
aspx?filename=Q:/G/RO/N44.pdf . WT/TPR/S/298 • Ghana 
 
- 48 - 
 
  The approval process takes 4–6 months. Many private sector operators consider this process 
cumbersome, which explains the low number of registered products.15 It has not been possible to 
obtain statistics on approved products and companies under the scheme.  
3.1.6  Tariff preferences  
3.48.  Under ECOWAS, Ghana in principle allows du ty-free imports of goods deemed to originate in 
other ECOWAS countries. However, as noted above, access to these tariff preferences is conditional on meeting stringent rules of origin and, as a result few tariff preferences are actually 
granted. Instead, there are reports that Ghana sometimes applies the panoply of tariffs and ODCs 
described above to all imports including from ECOWAS neighbours.
16  
3.1.7  Duty concessions and exemptions 3.49.  The thrust of Ghana's trade policy is to pr omote economic growth. This perhaps explains the 
authorities' widespread tolerance of tariff and other import duty exemptions. Indeed, one 
particularity of Ghana's import system is the intensive use by private operators of the multiple import duty exemptions, concessions and other schemes available in the Customs Law, effectively 
allowing them not to pay customs duties, ODCs , VAT or other taxes as the case may be.  
3.50.  In order to minimize the loss of revenue that inevitably results from these exemptions, 
in 2000 the Government introduced a special "processing  fee" of 1% levied on certain (but not all) 
imports that are statutorily exempt from duty, zero-rated or re-exported from warehouses, thus 
complicating further the administration of import taxation.
17  
3.51.  Part of the annual loss of revenue resulting from certain import exemptions is captured by 
Customs in its "import exemption" statistic, compiled as part of the budget. In 2013, this loss 
amounted to 5.6% of Ghana's total tax revenue (C hart 3.1 above). The actual revenue foregone is 
likely to be much higher as the import exemption as it is currently compiled does not include exemptions granted under export processing zo ne, bonded warehouse, or GIPC provisions 
(Table 3.6). This highlights an urgent need to  streamline and simplify the existing exemptions, 
which are complex and expensive to administer, cause a substantial shortfall in government revenue every year, and could be contrary to Ghana's WTO commitments.  
Table 3.6 Schemes providing for tariff exemptions, 2013 
Description / Legislation Nature of duties 
waived or reduced 
Imports under the Ghana Investment Promotion Centre Act  / GIPC Act   Tariffs, ODCs  
Imports by hotels and tourism industry (listed items e.g. refrigerators, televisions, etc.)  Reduced tariffs  
Imports by restaurants (listed items) Tariffs 
Local film producers (sound recording and other listed apparatus)  Tariffs 
Imports by manufacturers approved by the Commissioner  / Customs and Excise (Duties 
and other taxes) Act, 1996 (Act 512) Tariffs 
Raw materials for the manufacture of agricultural and fishing equipment, and of phytosanitary 
products (e.g. disinfectants, etc.). Raw material for the manufacture of evaporated milk. Raw 
materials including packaging materials for the manufacture of pharmaceutical products. Raw 
materials for the manufacture of anti-mosquito prod ucts. Raw materials for the manufacture of pipes 
and tubes of plastics. Materials for processing of timber and related products. Inputs (such as dye 
stuff, chemicals, grey baft) for the production of textile. Raw material for the manufacture of 
corrugated roofing sheets. Billets, waste and scrap of iron for the manufacture of iron rods. Inputs for 
the manufacture of building material. Materials fo r the manufacture of bicycles and other cycles. 
Miscellaneous raw materials. 
"Import exemptions" / Tariff Book  
The British Council Tariffs, VA T 
The Head of State of Ghana Tariffs, VA T 
Diplomatic missions Tariffs, VA T 
Technical assistance schemes  Tariffs, VA T 
Persons with disability Tariffs, VA T 
Churches and religious bodies  Tariffs 
Trade fairs and exhibitions Tariffs, VA T 
The Volta Aluminium Company Limited Tariffs, VA T 
The Volta River Authority Tariffs, VA T 
"General exemptions" / Tariff Book   
Advertising matte r Tariffs, VA T 
                                               
15 World Bank (2012b). 
16 FAO (2012). 
17 Customs and Excise (Duties and Other Taxes) Amendment Act 2002 (Act 615). WT/TPR/S/298 • Ghana 
 
- 49 - 
 
  Description / Legislation Nature of duties 
waived or reduced 
Aircraft parts and accessories fo r use by approved airline operators  Tariffs, VA T 
Passengers' personal baggage and effects Tariffs, VA T 
West African raw foodstuffs and fish caught by Ghanaian-owned vessels  Tariffs 
Educational, cultural, or scientific material Tariffs 
Fishing floats and gear as approved by the Commissione r Tariffs, VA T 
Infants' foods Tariffs 
Machinery, apparatus and spare parts for agricultural purposes  Tariffs, VA T 
Chemicals for agricultural purposes, as certified by the Minister of Agriculture  Tariffs, VA T 
Jute bags imported by COCOBOD or any of its approved agents  Tariffs, VA T 
Gifts of a charitable nature from donors and recognized overseas bodies, as recommended by the 
Overseas Gifts Committee and approved by the Minister of Finance Tariffs, VA T 
Agricultural and industrial machinery, solar, wind and thermal generating sets, electric generating set 
of 375 KVA and above, solar cells and panels Tariffs, ODCs, VA T 
Ambulances (HS 8701, 8705, 8703.10.20) Tariffs, ODCs, VA T 
Hearses Tariffs, ODCs, VA T 
Mosquito nets falling within Heading No. 5608. 19.00.10  Tariffs, ODCs, VA T 
Imports by hotels and guest houses Tariffs, ODCs  
Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal (HS  82 
except 82.08) Tariffs, ODCs, VA T 
Knives and cutting blades (HS  82.08) Tariffs, ODCs, VA T 
Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS  84 except 84.71) Tariffs, ODCs, VA T 
Automatic data processing machines and units thereof (HS  84.71)  Tariffs, ODCs  
Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television 
image and sound recorders and reproducers, and parts and accessories of such articles (HS 85 except 
85.02)  Tariffs, ODCs, VA T 
Solar, wind, and thermal energy generating sets ; electric generating sets of 375 KVA and above 
(HS 85.02) Tariffs, ODCs, VA T 
Musical instruments; parts and accessories of such articles (HS  92) Tariffs, ODCs, VA T 
Air-conditioners; furnishing, including carpets, bedding, and fixtures; fans and radio sets; 
refrigerators/deep freezers; television sets; pub lic address systems; and crockery (HS 98.07, 98.08) Tariffs, ODCs, VA T 
Sawn, chipped, sliced or peeled wood (HS 44.07)  Tariffs, ODCs  
Aluminium ingots (HS 76.01)  Tariffs, ODCs  
Floats for fishing nets of natural corks (HS 45.03)  Tariffs, ODCs  
Float cords for fishing nets (HS 58.08) Tariffs, ODCs  
Floats for fishing nets of glass (HS 70.20) Tariffs, ODCs  
Lead weights for fishing nets (HS 78.06) Tariffs, ODCs  
Inputs for the manufacture of fishing nets and fishing ropes (HS  98.02.30)  Tariffs, ODCs  
Recording instruments for the music industry (HS 98.10)  Tariffs, ODCs  
Imports under Bonded Warehousin g provisions / CEPS Law, 1993  Tariffs, ODCs, VA T 
Imports under Free Trade Zones provisions / Free Trade Zones statutes  Tariffs, ODCs, VA T 
Imports listed under the Mining List (252 items) / Mining List  Tariffs 
Metals listed as inputs in mining  
Chemicals listed as inputs in mining  
Electrical equipment listed as inputs in mining  
Machinery listed as inputs in mining  
Source:  WTO Secretariat based on informatio n provided by the authorities. 
3.52.  In Ghana, a large share of imports is cleared into bonded warehouses. The goods can stay 
there up to four years. Of the goods that are cleared from bonded warehouses to the domestic 
market, about 25% are exempted from import duties. For example, vehicles and other goods are frequently cleared out of bonded warehouses duty -free, under the "Clearance on permit pending 
approval" system. In addition, despite the physic al controls that are applied, there are many 
reports of abuse of bonded warehouse facilities. Products such as rice, sugar or consumer 
electronics are imported into warehouses under temporary exemption; they are subsequently released for re-export to neighbouring countries, bu t in fact sold in the domestic market without 
payment of duty or VAT. The application of the bo nded warehousing provisions therefore deserves 
to be reviewed with a view to ensuring equity  and increasing revenue. A large share of Ghana's 
exempt imports also apparently enters under letters granting exemptions from the Ministry of 
Finance, initiated in other ministries, such as Agriculture, Social Welfare and Employment and 
Health. 
3.53.  The users of imported goods brought in under exemption have a market advantage over 
users of the same goods imported under the statutory tariff rate. In general, these exemptions 
therefore create an arbitrary differential in protection across firms. They also encourage 
rent-seeking and corruption, as importers and user s of imported goods lobby for exemptions. The 
wide use of exemptions also creates anomalies in Ghana's tariff structure, reducing tariff 
protection to producers of exempted goods, and increasing effective protection to the users of 
exempted raw material inputs.  WT/TPR/S/298 • Ghana 
 
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  3.1.8  Import prohibitions, restrictions, and licensing 
3.54.  Import prohibitions are maintained by the Ghanaian authorities on, inter alia , security, 
technical, sanitary, phytosanitary, and environmental grounds. Ghana also controls or restricts trade under treaties and international conventions to which it is a signatory, such as CITES, the 
Montreal Protocol, and the Basel Convention on Hazardous Waste. These prohibitions are listed in 
the Tariff of 2012. Ghana is a member of the Kimb erley Process and applies import prohibitions, 
according to origin, on rough diamonds. Trade and economic sanctions may also be imposed, in 
accordance with United Nations Security Council resolutions.  
3.55.  The West Africa Trade Hub highlights that Ghana continues to apply temporary import bans 
and quotas for selected agricultural commodities.
18  
3.56.  The Imports and Exports (Prohibited Goods) Regulations of 1994 prohibit commercial 
imports of used or second-hand: handkerchiefs; underpants; mattresses; and sanitary ware. 
Importation of used LPG cylinders, toxic waste, turkey tails, foreign soil, and medical soap containing mercuric iodine is also prohibited. In 2004, the authorities notified the WTO of absence 
of import licensing procedures.
19 There is however a rather long list of products which reportedly 
require a permit from the appropriate organi zation prior to importation (Table 3.1).  
3.1.9  Contingency measures 
3.57.  Since its second TPR in 2001, Ghana has not taken any anti-dumping20, countervailing21 or 
safeguard measures. Ghana does not have any national legislation on such contingency measures. 
3.2  Measures Directly Affecting Exports 3.2.1  Export procedures  
3.58.  The Ghana Export Promotion Authority (GEP A) is the Ministry of Trade and Industry's 
national focal point for export promotion. The GE PA was established in 1969, and aims to promote 
exports of non-traditional products with a view to diversifying Ghana's export base.
22 It provides 
technical assistance and advisory services to Ghanaian companies in order to create an enabling 
environment for non-traditional export expansion. The GEPA's key programmes include: market access facilitation for export companies, technical advisory services on export product 
development, trade information services, and export-related human resources development 
through the Ghana Export School. GEPA has a staff of 76; its activities are funded by the Export 
Development and Agricultural Investment Fund  (EDAIF) (70%) and Government contributions 
(30%). GEPA works in close cooperation with the UNCTAD/WTO International Trade Centre in 
Geneva. 
3.59.  The authorities aim to encourage all exporters to register with GEPA as Ghana's compulsory 
export gateway. Accordingly, all exporters are to be registered with GEPA and follow a set 
procedure (Table 3.7). The EDAIF is also active in the same area of export promotion 
(section 3.2.7). 
3.60.  As indicated, some exports require specific permits or certificates (Table 3.8). It would 
appear that in some cases there is duplicate checking by two agencies. 
                                               
18 USAID and West Africa Trade Hub (2010). 
19 WTO document G/LIC/N/3/GHA/3, 21 April 2004. Viewed at: 
https://docs.wto.org/dol2fe/Pages/SS/dire ctdoc.aspx?filename=Q:/G/LIC/N3GHA3.pdf , confirmed by WTO 
document G/LIC/N/3/GHA/4, 26 September 2009. Viewed at: https://docs.wto.org/dol2fe/Pages/SS/directdoc. 
aspx?filename=Q: /G/LIC/N3GHA4.pdf . 
20 WTO document G/ADP/N/193/GHA, 8 April 2011. Viewed at: https://docs.wto.org/dol2fe/Pages/SS/ 
directdoc.aspx?filename=Q:/G/ADP/N193GHA.pdf . 
21 WTO document G/SCM/N/202/GHA, 21 April 2011. Viewed at: https://docs.wto.org/dol2fe/Pages/SS/ 
directdoc.aspx?filename=Q:/G/SCM/N202GHA.pdf . 
22 GEPA online information. Viewed at: http://www.gepaghana.org/ . WT/TPR/S/298 • Ghana 
 
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  Table 3.7 Ghana's export procedures, 2014 
Agency Procedures 
Ghana Export Promotion Authority (GEPA) All exporters mu st fill out new GEPA registration forms. Copy of 
completed registration forms shall be forwarded to the Permit Issuing Agency (PIA) where required. 
Permit Issuing Agency (PIA) Exporters must contact the PIA where required, to arrange for 
inspection of premises and production facilities. 
PIA and GEPA PIA to submit an inspection report with recommendations to GEPA and a 
copy to the exporter. GEPA shall co mplete the registration process for 
the exporter when recommended by PIA, and furnish Customs with an 
update of the list of current exporters.  
PIA PIA shall arrange for inspection of consignment to be exported and 
samples for testing. Based on the result of the tests and the labels 
submitted, PIA to issue an Export Consignment Certificate (ECC) to the 
exporter. 
Exporter Exporter to present all relevant  documents, including ECC, to Customs 
at the point of exit. 
Customs Customs shall ensure that exporter's name is on the current list issued 
by GEPA, and that exporter  has a valid ECC from PIA.  
Source: Ghana Standards Authority. Viewed at: http://www.gsa.gov.gh/pdf/Export%20Registration%20 
 Procedure.pdf?phpMyAdmin=2dc4ecf5c1bt1ce2db13 . 
Table 3.8 Export permit issuing agencies, 2013 
Product Premises inspection and permit issuing body 
Antiques Ghana Museum and Monuments Board. If the items are made from 
animal parts, obtain permit from Department of Game and Wildlife. 
Processed and other foods  Ghana Standards Authority (GSA) / Food and Drugs Authority (FDA) 
Fresh / processed fish  GSA 
Cocoa, coffee / Sheanut / Cashew nuts COCOBOD 
Raw agricultural products 
Live plants Plant Protection and Regu latory Services, MOFA 
Timber & wood products Forestry Commission (Forest Pr oducts Inspection Division) 
Charcoal Energy Commission 
Rock & rock samples Geological Survey Department  
Mineral ores Mine rals Commission 
Wildlife e.g. reptiles, etc. Department of Game & Wildlife 
Chemicals Environmental Protection Agency (EPA) 
Non ferrous scraps metals Ministry of Trade and Industry  
Source: Information provided by the Ghanaian auth orities and Ghana Standards Authority. Viewed at: 
 http://www.gsa.gov.gh/pdf/Export%20Registrati on%20Procedure.pdf?phpMyAdmin=2dc4ecf5c1bt1c
 e2db13 . 
3.2.2  Foreign exchange surrender and conversion requirements 
3.61.  Under the Foreign Exchange Act 2006 (Act 723), complemented by operational guidelines, 
all foreign exchange earned through exports must be surrendered within 60 days of shipment to a 
registered Ghanaian bank in Ghana, except for cocoa export proceeds which must be surrendered 
to the BoG. Banks must submit reports of all export receipts to the BoG.  
3.62.  With the exception of cocoa, whose export proceeds must be entirely converted into cedis, 
exporters may retain a portion of the foreign exchange earned in Foreign Exchange Accounts (FEA) 
at their local banks (section 1.2). These accounts can be credited with foreign exchange earnings not converted into cedi balances. Residents ar e allowed to transfer up to US$10,000 per annum 
from these accounts without documentation. Importers are also allowed to undertake imports 
through direct transfer from FEAs up to US$25,000 per transaction without initial documentation. Subsequently, the importer shall submit the Custom s Import Declaration Form no later than three 
months after the transfer.  
3.2.3  Exports under preferential regimes 
3.63.  Exports under a preferential regime must  be accompanied by a certificate of origin. 
Certificates of origin are issued by Customs for exports under AGOA; and by the Ghana National 
Chamber of Commerce and Industry for any other of the main preferential schemes: The EUR1 
certificate of origin for exports under Regulation 1527 (section 2.4); and the Generalized System WT/TPR/S/298 • Ghana 
 
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  of Preferences (GSP) certificate for the United States, Japan, Canada, Switzerland and other 
countries.  
3.64.  Companies that wish to benefit from the ECOWAS Trade Liberalizati on Scheme must also 
register with the ECOWAS Commission, and register each of the products they wish to ship to 
other ECOWAS countries duty-free. According to a recent World Bank analysis, the registration 
procedure is particularly lengthy (four to six months), and restrictive (under a two-staged approval process whereby a national committee forwards the decision to a regional committee), and 
therefore acts as a barrier to regional exports.
23  
3.2.4  Export taxes, charges, and levies 3.65.  Ghana has considerably reduced its relianc e on export taxes in past years. Taxes are 
currently applied on exports of certain wood prod ucts (section 4.3) and on exports of certain 
hydro-carbons (section 4.4.3). In addition, producer prices for cocoa production, most of which is 
exported, are set below world prices; but these producer prices apply irrespective of whether cocoa is exported in raw form or locally processed (section 4.1.2.1.).  
3.2.5  Export prohibitions, restrictions, and licensing 
3.66.  Aside from prohibitions on exports of round or unprocessed logs, raw rattan cane and 
bamboo, and parrots, there do not seem to be any specific regulations providing for export 
restrictions.  
3.2.6  Export duty drawback  3.67.  Provisions exist in Ghana's statutes for duty drawback.
24 Data was not available on the 
number and value of drawback applications and actual payments. Any company that uses 
imported raw materials or other inputs in the manufacture of products that are exported is in 
principle entitled to claim a duty drawback corre sponding to the amount of duty paid on the 
imported inputs. Customs export documents must be submitted to provide evidence of export, 
together with evidence from customs authorities in the importing country. Claims must be made 
within twelve months of the date of export.  
3.68.  Reimbursement depends on the availability  of funds. According to industry observers, 
drawback payments are extremely slow to be proc essed, and in many cases almost impossible to 
obtain. The minimum time required to process a cl aim is three to four months; but many claims 
are apparently never realized.  
3.2.7  Export subsidies, financ e, insurance, and guarantees 
3.69.  Ghana had notified the WTO Committee on Agriculture in 2001 that it did not maintain any 
subsidy, including any form of price support, and notified the WTO Committee on Subsidies and Countervailing Measures (SCM) of the absence of any subsidies in 2004.
25 No notification has been 
received since then from Ghana by these two bodies on this topic. Based on Annex VII 
paragraph (b), which concerns countries with a per capita annual income of less than US$1,000, 
the prohibition on export subsidies under Articl e 3 of the WTO Agreement on SCM does not apply 
to Ghana.26  
3.70.  Among the agencies designed to support ex porters since 2001, a third entity – the Export 
Development and Agricultural Investment Fund (EDAIF) – provides export credit to companies with majority Ghanaian shareholding, with the objective of stimulating the export sector and supporting 
                                               
23 World Bank (2012b). 
24 The provisions for Ghana's duty drawback scheme ar e laid down in sections 40 to 42 of the Customs, 
Excise and Preventive Service (Management) Law of 1993. 
25 WTO documents G/SCM/N/95/GHA, 20 April 2004. Viewed at: https://docs.wto.org/dol2fe/Pages/SS/ 
directdoc.aspx?filena me=Q:/G/SCM/N95GHA.pdf  ; and G/AG/N/GHA/2, 21 August 2001. Viewed at: 
https://docs.wto.org/dol2fe/Pages/SS/di rectdoc.aspx?filenam e=Q:/G/AG/NGHA2.pdf . 
26 For an explanation of the rules on export support under the WTO, see ITC (2009). WT/TPR/S/298 • Ghana 
 
- 53 - 
 
  trade in general.27 Following the passage of the Export Development and Agricultural Investment 
Fund (EDAIF) Act 823 of 25 October 2011, financial resources can also be provided for the promotion of the agri-processing industry. The EDAIF's main source of funding is the statutory 0.5% fee on the c.i.f. value of all non-petrol eum imports; according to its 2009 Annual Report, 
funding from the fee was only ₵42.3 million in 2009, a third of the revenue collected in 2005.  
3.71.  The EDAIF Credit Facility operates with designated financial institutions (DFIs). The DFIs 
receive loan applications from prospective borrowers and submit them, together with their 
appraisal and recommendation, to the EDAIF Boar d of 13 members, including 5 private sector 
representatives. The maximum amount one can access under the credit Facility is the cedi equivalent of US$3 million. The DFIs bear the credit  risk for approved loans. EDAIF subsidizes the 
interest rate charged to the borrowers. It lends to the DFIs, and the DFIs lend to the borrower. 
EDAIF's current lending rate to the DFIs is 12.5%, who in turn lend to the borrower according to 
the BoG's prime rate (16-18% in 2013).  
3.72.  The main products financed under EDAIF's credit facility are agri-food products such as shea 
butter, cocoa powder, canned tuna, vegetable oil, and handicrafts. In 2009, ₵29.4 million 
(US$13 million) were approved for credit disbursement to 12 companies, i.e. considerably less than in 2005.  
3.73.  In addition, EDAIF also runs an Export Development Promotion (EDP) Facility, which 
supports the development and promotion of export  products and provision of services to the 
export sector, but does not subsidize loans. The maximum loan under the EDP is the cedi 
equivalent of US$100,000. Disbursements of ₵2.2 million (US$1 million) were made under the EDP 
in 2009.  
3.74.  Given that many exporters lack the raw materials to process for export, EDAIF's range of 
activities was modified in 2011 to permit the financing of agri-food processing activities. The 
Export Development and Agricultural Investment Fund (EDAIF) Act 823 of 25 October 2011 now 
includes the possibility of providing financial resources to the promotion of agriculture for the agri-processing industry. Under the new EDAIF, ₵119 million (US$53 million) were approved for 
export credit towards some 150 projects during 2011-12. By way of comparison, Ghana's 2012 
exports stood at US$13.5 billion. 
3.75.  An Export Marketing and Quality Awarene ss Project supports the agri-food export sector 
since 2005, with the help of the World Bank and the African Development Bank.
28 
3.2.8  Export processing zones 
3.76.  Ghana currently has two free ports at Tema and Takoradi, the Kotoka International Airport 
free zone, and four Export Processing Zones (EPZ): the Tema EPZ, located near the seaport in 
Tema; the Ashanti EPZ, located close to the inland port of Ghana Boankra; and Sekondi and 
Shama EPZs, both located near the seaport of Sekondi.29 Investors can also obtain EPZ status 
without being located within the designated EPZ, at a free point located anywhere in Ghana. There 
are currently 252 free points, compared to 150 in 2007, most of them located in the Greater Accra 
area.  
3.77.  One particularity of Ghana's free zone scheme is that non-free zone enterprises are allowed 
to operate in the free zones, so as to benefit from their superior infrastructure, including a 
dedicated power grid, a large water reservoir;  central sewerage system, telecommunication 
services and secured enclosures. This can encourag e positive FDI spill overs on the local economy, 
as export processing activities will tend to rely more on locally produced inputs available close by.  
3.78.  Ghana's free zone system has been the subject of a recent Aid-for-Trade Case study.30 The 
case study shows that since the programme's inception in 1995, the results have been mixed. 
                                               
27 The EDIF (now EDAIF) was set up under the Export Development and Investment Fund Act 582 of 
2000, and has a website: http://www.edifgh.org . 
28 African Development Bank Group (undated). 
29 The Free Zone Act of 1995 and its Regulations lay do wn the legal basis for EP Zs in Ghana. The Ghana 
Free Zones Board has a website: http://www.gfzb.gov.gh . 
30 OECD-WTO (undated). WT/TPR/S/298 • Ghana 
 
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  While one of the EPZs was on the brink of collapsing in 2005, it has recovered since then. About 
200 enterprises currently operate in a range of activities including agri-processing (cocoa, spices, cashew, fruit) and production of garments, textile s, and plastic products. Exports reported by the 
Ghana Free Zone Board (GFZB) exceed the sum of imports plus production (Chart 3.5). According 
to the authorities, this is due to the fact that production data covers only merchandise, while 
exports cover merchandise services and re-exports. 
Chart 3.5 Export processing zones indicators, 2000, 2005, 2007, and 2010-12 
(US$ million) 
02,0004,0006,0008,00010,00012,00014,00016,000
2000 2005 2007 2010 2011 2012Production Export Import
a
 
a No import data available for 2000. 
Source: Ghana Free Zone Board. 
3.79.  The GFZB has the mandate to establish free zones in Ghana, as well as to grant licences, 
attract new investors, monitor the activities of EP Z enterprises, and register data and keep records 
of economic activities in EPZs. The Board is composed of nine members, including four from the private sector; it is chaired by th e Minister of Trade and Industry.  
3.80.  Enterprises located in an EPZ have the right to produce any type of good or service for 
export and benefit from generous investment incentives:  
 Exemption from all direct or indirect duties (including VAT, excise duties) and levies on 
all imports for production and exports from free zones; 
 Exemption from income tax on profits for ten years, and maximum income tax of 8% 
after the ten years;  
 Exemption from the withholding tax arising from investments in free zones;  
 Benefits of double taxation agreements that are in place (section 2.4); 
 Speedy customs formalities as goods can be cleared on the premises of the company 
(clearance on premises, section 3.1.2).  
3.81.  Licences for investors are granted by the GFZB, which also operates as a one-stop service 
by assisting applicants to obtain other relevant licences and permits. Licence fees are between US$2,000 and US$5,000, depending on the activity of the company.  
3.82.  Under the ECOWAS Protocol, exports by EPZ enterprises to other ECOWAS countries are not 
eligible for preferential treatment, and are thus  subject to customs duties. Also, an enterprise 
located in an EPZ may sell up to 30% of its production on the national market, subject to the 
payment of regular import duties and taxes. However, there appear to be substantial leakages to WT/TPR/S/298 • Ghana 
 
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  the domestic market without payment of such duties and taxes, which has prompted the creation 
of a monitoring department to reduce these leakages. 
3.3  Measures Affecting Production and Trade 3.3.1  Standards and other technical requirements 
3.83.  As notified to the WTO, "High risk g oods" (HRGs) are subject to special conformity 
assessment procedures, in place for health, safety and security reasons.
31 The Customs 
classification of HRGs dates from the early 1990s and is problematic; it should be reviewed as 
some foods are not included and thus are not cons idered high risk. In parallel the Food and Drug 
Authority (FDA) registers regulated human and anim al foods, drugs and cosmetics (Table 3.9). In 
several cases, both imported products and import ers must be registered and inspected by both 
bodies, which results in duplication. All imported HRGs must be accompanied by a certificate of 
conformity, with reference to the applicable Ghanaian standards. 
Table 3.9 Imports subject to prior authorization, 2014 
Products Premises inspection and permit-issuing 
body 
1. "High risk goods"  
Food products, cosmetics GSA, FDA  
Alcoholic and non-alcoholic beverages   GSA, FDA  
Pharmaceuticals FDA  
Electrical appliances, electrical products, e.g. bulbs, switches, sockets, 
electrical cables, electronic products, LPG cylinders and accessories. Toys GSA
 
Chemical and allied products Environmental Protection Agency (EPA)  
Building materials, used goods, petroleum products, motor vehicle 
batteries, African textile prints GSA 
Pyrotechnic products GSA, Minister of Interio r 
Machetes Ministry of Agriculture 
Vehicle spare parts Ministry of Trade and Industry 
Industrial machinery  Ministry of Trade and Industry/GIPC 
2. Other products  
Raw agricultural products (e.g. yam, pineapples, mango).  
Live plants Plant Protection and Regulatory Services 
Division (MOFA)  
Timber & wood products Forestry Commission  
Charcoal Energy Commission 
Rock and rock samples Geological Survey Department Certificate  
Petroleum products National Petroleum Authority 
Wildlife e.g. reptiles, etc. Department of Game & Wildlife 
Other animals and pets including snail Veterinary Services (MOFA) 
Communication equipment National Communication Authority, GSA  
Cinematography films Customs  
Goods imitating money; gambling machines; gold coins.  
Rough or uncut diamonds Minister of Finance  
Arms and ammunitions, handcuffs, machines for duplicating keys  Minister of Interio r 
Nets and traps for animals MOFA  
Mercury  Ministry of Trade and Industry/Inspector of 
Mines 
3. All products (ad hoc compliance checks)  Presidential Task Forces 
National Security Personnel 
Port Health authority 
Source: WTO Secretariat based on Ghana Customs, Excise, and Preventive Service (undated), A Guide for 
 Importers and Exporters, and the Public , and information provided by the authorities. 
                                               
31 WTO document G/TBT/N/GHA/1, 18 January 2005. Viewed at: http://tbtims.wto.org . WT/TPR/S/298 • Ghana 
 
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  3.3.1.1  Ghana Standards Authority (GSA) 
3.84.  The GSA, previously the Ghana Standards Board (GSB), was established by the Standards 
Authority Act (also known as the Standards Decree)32 in 1973. This law has been under review 
since 2006.33 The GSA’s website has copies of all legislation regarding its operations.34 
3.85.  In principle, the GSA is responsible for the overall management and coordination of 
standardization issues in Ghana, including metrology, standards, testing, certification and inspection, and the quality assurance of goods and services for the local market, imports and for 
export. Among its domestic activities, the GSA randomly inspects fuel measuring instruments to 
ensure their accuracy. In addition, cocoa scales and test weights used in the cocoa industry are regularly verified, as are weighbridges.
35 The GSA elaborates standards for food, drugs, cosmetics, 
and engineering products, and certifies these products under its certification scheme. It maintains 
an electronic catalogue of domestic standards on its website. 
3.86.  Ghana primarily adopts international standa rds, especially ISO, Codex, or IEC norms. The 
initiative for the adoption of a standard is usually taken by industry groups, academics, 
consumers, or the wider public. A Technical Committee, composed of stakeholders such as 
academics, consumer representatives, and traders, first consults existing international norms for adoption or modification as a Ghana Standard. The Committee is supported by a secretariat 
provided by the GSA. Once a draft standard has been elaborated, it is sent to the interested 
public; comments can be provided over a period of three months. Standards enter into force after 
their publication in the Government Gazette. International norms are generally applied unless 
found unsuitable. Where no international norms exist, standards from other countries are usually 
used. Ghana also develops its own standards for indigenous products, such as for cassava chips or 
shea butter. The GSA is mainly government-funded, but also collects fees from its quality assurance and testing activities. 
3.87.  Ghana currently has 2,485 national standards on, inter alia,  building materials, food and 
agricultural products, household products, electrical goods, pharmaceuticals, quality management services and societal standards. The GSA is a full member of ISO and has MoUs with the British 
Standards Institute, the American Society for Test ing and Materials, the South African Bureau of 
Standards, the Standards Organisation of Nigeria.  It is an affiliate of International Electro - 
Technical Commission (IEC), giving it access to all the standards of these two international standard setting bodies.  
3.88.  The GSA has observed that, in practice, due to the lapses in the understanding of the 
National Quality Infrastructure, the roles of the national standardization and certification body and that of the regulators are not very well delineated. This sometimes leads to the promulgation of 
technical regulations (mandatory standards) by some regulators, without the GSA being involved. 
The legislative review aims, inter alia,  to ensure that all regulators work in association with the 
GSA and have recourse to relevant standards in promulgating technical regulations. 
3.89.  The Standards Act does not make a clear distinction between voluntary standards and 
technical regulations. Nevertheless, on high-risk goods, Ghanaian standards are considered as technical regulations and related imports are accordingly inspected. The GSA has inspectors at major customs offices to ensure that imported HR Gs comply with established Ghanaian Standards. 
Imported HRGs must either be accompanied by  a certificate of conformity issued by an 
internationally-recognized laboratory accredited in the home country, or they will be inspected by the GSA. According to the GSA, foreign certificates of conformity and certificates of analysis from 
laboratories accredited by internationally-recognized accreditation bodies are generally accepted. 
GSA does not maintain a list of acceptable foreign laboratories, but participates in the IEECE-CB Scheme; test reports are also verified with refere nce to the International Laboratory Accreditation 
Cooperation (ILAC). 
                                               
32 This law was viewed at: http://www.wipo.int/wipolex/fr/text.jsp?file_id=225588 . 
33 GSA online information. Viewed at: http://www.gsa.gov.gh/ . 
34 GSA online information. Viewed at: http://www.gsa.gov.gh/standards/index.php . 
35 National Development Planning Commission (2012). WT/TPR/S/298 • Ghana 
 
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  3.90.  The GSA is Ghana's enquiry point under the WTO Agreement on Technical Barriers to 
Trade.36 No new legislation has been notified to the WTO since the last TPR in 2008. Ghana has 
accepted the Code of Good Practice for the Prep aration, Adoption and Application of Standards.37 
Since October 2006, Ghana has notified five new TBT measures to the WTO Committee on 
Technical Barriers to Trade, bringing the total to eight notifications: on general hygiene provisions 
for fish and fishery products; on fishing regulations;  on fortification requirements for all wheat flour 
and vegetable oil locally produced or imported, on household refrigerating appliances; and a 
prohibition on imports and exports of second-h and handkerchiefs, underpants, mattresses and 
sanitary ware.38  
3.91.  The GSA represents Ghana in the International Organization for Standardization (ISO), the 
African Regional Organization for Standardization (ARSO), and the International Organization for 
Legal Metrology (IOLM); it is also an Associate member of the International Bureau of Weights and 
Measures (BIPM). Ghana sends bi-annually its Standards Work Programme to ISO as part of the Code of Good Practice. It is the contact point for all Codex Alimentarius issues and is an affiliate 
member of both the African and the International Electro-Technical Commissions (AFSEC and IEC).  
3.3.1.2  Food and Drug Authority (FDA) 3.92.  The FDA (previously the Food and Drugs Board), under the Ministry of Health, regulates the 
manufacture and distribution of food products, tobacco products, pharmaceuticals, and household 
chemicals and medical devices.
39 The FDA's legal mandate is also found in a new legislation, the 
Public Health Act, Act 851 of 2012, and in particul ar its parts relating to tobacco control measures, 
food and drugs, and clinical trials.40  
3.93.  Food, medicines and all other regulated products must be registered by the FDA before they 
are placed on the market. The importer must first ob tain a registration form and fill it out; then 
send it to the FDA for registration, together with a copy of the importer's business registration, 
applicable dossier or documentation, and registration fees. Registration is product-specific and 
valid for three years. Operational Guidelines and Forms can be obtained from the FDA website. The FDA may conduct laboratory analyses, irrespective of whether the consignments are covered by 
foreign laboratory tests. 
3.3.1.3  Marking, labelling, and packaging 3.94.  Ghana's regulations on labelling, packagin g and marking of specified products are contained 
in four main statutes: 
 The Public Health Act of 2012, and accompanyi ng Guidelines for the Registration of all 
regulated products, under the responsibility of the FDA; 
 The 1992 Ghana Standards Board (Food, Drugs and Other Goods) General Labelling 
Rules: under these rules, imported and domestic food and drugs must be labelled in 
English, identifying attributes such as the type of product, the country of origin, the ingredients or components, net weight, instructions on use, and the expiration date for 
perishable foods. Similar labelling is required on a range of other specified products, 
including electrical goods, e.g. televisions, air-conditioners, batteries, lamps and household appliances; cement; paints; pesticides; poultry feed; toiletries; and cosmetics; 
 The Standards Act, 1973; 
 The Ghana Standards (Certification Mark ) Rules, 1970 (L.I. 662), as amended; and 
                                               
36 WTO document G/TBT/ENQ/27, 17 February 2006. Viewed at the TBT Information Management 
System: http://tbtims.wto.org/web/pages/search/notification/BasicSearch.aspx. The authorities indicate that a 
new Bill specifying the roles and responsi bilities of the GSB is before Cabinet. 
37 WTO document G/TBT/CS/N/144, 30 May 2002. 
38 WTO documents G/TBT/N/GHA/4-8. Viewed at  the TBT Information Management System. 
39 Viewed at: http://www.eservices.gov.gh/FDB/SitePages/FDB-Home.aspx . 
40 Public Health Act, 2012 (Act 851). Viewed at: http://www.tobaccocontrollaws.org/files/live/Ghana/ 
Ghana%20-%20Pub.%20Health% 20Act%202012%20-%20national.pdf . WT/TPR/S/298 • Ghana 
 
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   Specific standards have been developed for low density polyethylene fill, wrappers and 
transit containers, for polystyrene boxes, for PVC bottles for oil, for jute sacks, for polypropylene woven sacks, for "blow moulded" containers, and for paper sacks for cement.  
3.3.1.4  Sanitary and phytosanitary measures 
3.95.  Until 2010, domestic SPS legislation was archaic and largely inapplicable. The authorities 
have explained that in practice the Codex Alimentarius and OIE legislation were used as regulatory 
guidelines, as Ghana is a member of the three stan dard-setting bodies explicitly referred to in the 
WTO Sanitary and Phytosanitary (SPS) Agreement, namely the Codex Alimentarius, OIE and the International Plant Protection Convention (IPPC).  New regulations since 2010 have largely filled 
this legislative gap. Current legislation, which is not available on an official website, and has yet to 
be notified to the WTO, consists of: 
 The Plant and Fertilizer Act, 2010 (Act 803), which replaced the repealed Prevention and 
Control of Pests and Diseases of Plants Act, 1965 (Act 307);  
 The Prevention of Damage by Pests Decree, 1968; 
 The Prevention and Control of Pests and Dise ases of Plants (Cassava Plant and Plant 
Products (Prohibition of Importation) regulation, 1974 (L.I. 882);  
 The Pesticides Control and Management Act, 1996 (Act 528);  
 Plant Protection Regulations, 2012 (L.I. 2193); 
 Plant Fertilizer Regulations, 2012 (L.I. 2194); and 
 The Public Health Act of 2012 (Act 851). 
3.96.  SPS measures in Ghana are primarily the responsibility of the Directorates of Plant 
Protection and Regulatory Services (PPRSD), which is part of the Ministry of Food and Agriculture 
(MOFA), of the Veterinary Services of the MOFA, while the FDA is responsible for human and 
animal food safety (non-veterinary issues). The Ministry of Fisheries is responsible for fish 
products' safety. 
3.97.  The PPRSD maintains an up-to-date website containing laws and regulations, and serves as 
the WTO SPS enquiry point.
41 Imports of plants and plant products require a phytosanitary 
certificate from an authorized body of the exporting country and an import permit issued by the PPRS. Ghana recognizes phytosanitary certificates issued in accordance with IPPC requirements. 
3.98.  The PPRSD also has statutory responsibilities over plant pest and disease management, 
pesticide regulation and control, and inspection and certification. An Invasive Alien Species Secretariat (IAS-MOFA) groups experts from PPR SD, the Ministry of Environment Science and 
Technology, the EPA and other entities. 
3.99.  A new statute, the Fees and Charges (Amendment) Instrument, 2012 (L.I. 2191), specifies 
what fees are to be levied on each shipment by each control, and inspection and certification 
entity. The authorities point out that inspection has not really improved, particularly that of 
exports through Kotoka International Airport, because of the lack of proper infrastructure and inadequate equipment to conduct phytosanitary and quality inspection and certification. The authorities have stated that import prohibitions for SPS reasons are all based on IPPC standards. 
(e.g. International Standards for Phytosanitary Measures (ISPM) Nos 1, 11, 21). 
3.100.   The Veterinary Services Directorate conducts animal quarantine. Imported products of 
meat and dairy, live animals, as well as vete rinary vaccines, drugs, and equipment require a 
                                               
41 Ministry of Food and Agricultur e online information. Viewed at: http://mofa.gov.gh /site/?page_id=85 . WT/TPR/S/298 • Ghana 
 
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  permit issued by the Veterinary Services Director ate and must be covered by a veterinary health 
certificate from the exporting country.  
3.101.  The new Public Health Act regulates sanitati on in food processing, vending and distribution. 
Ghana has not submitted any SPS notifications to the WTO. WTO Members are expected to 
carry out such notifications in case of a change in their national SPS regulations, unless the new 
regulations are aligned with international standards. Ghana has not been the target of any specific trade concern expressed by another WTO member.
42 According to the authorities, an SPS 
Committee is about to become operational in Ghana. 
3.102.  A draft SPS framework is also being deve loped by ECOWAS, by and large a translation of 
WAEMU's framework. The draft ECOWAS Regulation  on the Harmonization of the Structural 
Framework and Operational Rules Pertaining to the Health Safety of Plant, Animals and Foods in 
the ECOWAS Region was still a "work-in-progress" in 2010.43 In March 2010, ECOWAS became an 
ad hoc  observer to the WTO SPS Committee. 
3.3.1.5  Environmental regulations 
3.103.  Ever since the 1992 National Environmen tal Policy of Ghana, protecting the environment 
has been a stated policy objective of the Government. As such environmental protection and sustainable development have featured in several development plans of the country, including the 
recent Medium-Term National Development Po licy Framework, Ghana Shared Growth and 
Development Agenda: 2010-2013.
44 With respect to environmental standards, the main law is the 
Environmental Protection Agency Act, 1994 (Act 490) and the Environmental Assessment Regulations, 1999 (L.I. 1652). The Ministry of En vironment, Science and Technology is the 
responsible entity. The Environmental Protection Agency
45 is the leading public body for protecting 
and improving the environment in Ghana. Environmen tal policy is formulated by the Ministry of 
Environment, Science and Technology.46 
3.104.  Since 2005, Ghana has been phasing-out its fossil fuel subsidy, which is one of UNEP's key 
recommendations. The removal of this fuel subsidy has made it possible to 1) eliminate fees for attending primary and junior secondary schools; 2) allocate extra funds for primary health care in 
the poorest areas; 3) expand the provision of mass urban transport; and 4) increase funds to a 
rural electrification scheme.
47  
3.105.  In 2013, Customs also announced a reduction of the Environmental Excise Tax from 15% 
to 10%; this tax is levied on imports and sales of plastics, with exemptions for pharmaceuticals 
and plastics used for water sachets, as well as for plastics used in the agricultural sector. 
According to newspaper reports, the tax and the funds generated have been inadequate to help devising appropriate waste-management schemes.  
3.3.2  Intellectual property rights (IPR) 
3.106.  Ghanaian consumers are constantly threatened by the illegal sale of fake products, 
particularly pharmaceuticals.
48 Most of these potentially dangerous counterfeit products are 
imported, raising important issues of IPR enforcem ent at the border. To deal with these issues, 
Ghana has developed innovative strategies to improve enforcement (see below). 
3.107.  In 2010, Ghana set out to modernize and st rengthen the country's IPR regime. A National 
Intellectual Property Policy Committee (NIPPC) an d Technical Coordination Group has developed a 
                                               
42 SPS Information Management System. Viewed at: http://spsims.wto.org/web/pages/search/stc/ 
Search.aspx . 
43 Viewed at: http://www.standardsfacility.org/ . 
44 UNEP online information. Viewed at: http://www.unep.org/greeneconomy/AdvisoryServices/Ghana/ 
tabid/56355/Default.aspx . 
45 UNEP online information. Viewed at: http://www.unep.org/greeneconomy/AdvisoryServices/Ghana/ 
tabid/56355/Default.aspx . 
46 EPA online information. Viewed at: http://www.epa.gov.gh/ . 
47 UNEP online information. Viewed at: 
http://www.unep.org/greeneconomy/AdvisoryServices/Ghana/tabid/56355/Default.aspx . 
48 IMF (2012). WT/TPR/S/298 • Ghana 
 
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  consolidated national IP Policy and Strategy, under  both the supervision of MOTI and the Ministry 
of Justice, and with the support of the Government of Switzerland.49 The project consists of 
modernizing the existing IP legislation, defining a national policy, sensitizing the judiciary, and developing a training manual for the judiciary on basic IP issues and a roadmap for the 
development of a national IP office. 
3.3.2.1  Legal and institutional framework 3.108.  Ghana is a member of the World Intellect ual Property Organization and of the African 
Regional Industrial Property Organization. It is a signatory to various IPR treaties (Table 3.10). 
Table 3.10 Membership in IPR treaties, 2013 
Treaty Entry into force 
Berne Convention (Literary and Artistic Works) 11 October 1991 
Paris Convention (Industrial Property) 28 September 1976 
Patent Cooperation Treaty (PCT) 26 February 1997 
WIPO Convention 12 June 1976 
The Protocol Relating to the Madrid Agreement Concerning the 
International Registration of Marks (Madrid Protocol) 16 September 2008 
WIPO Copyright Treaty 18 November 2006 
The Hague Agreement on the Deposit of International Designs 16 June 2008 
Lusaka Agreement 15 February 1978 
Source: WTO Secretariat based on inform ation provided by the authorities. 
3.109.  Ghana notified its main legislation on IPRs to the WTO TRIPS Council, which reviewed it.50 
This legislation was modernized in 2003-05 (see below). Patents, copyrights and related rights, 
trade marks, industrial designs, geographical indica tions, layout designs of integrated circuits, and 
undisclosed information are all legally recognized and protected in Ghana. 
3.110.  According to the authorities, a review of  all IP legislation, except copyrights, began 
in 2010. A new Plant Breeders' Bill was before Parliament in January 2014.51 
3.111.  Applications for copyright protection ar e filed at the Ghana Copyright Office under the 
Ministry of Justice.52 The Registrar-General is the notified IPR contact point for matters regarding 
patents, layout designs of integrated circuits, geographical indications, industrial designs, and 
trade marks.53 
3.3.2.2  Main areas of intellectual property rights 
3.112.  Ghana's main IPR laws and their coverage are represented in Table 3.11. Sections 13 
and 14 of the Patents Act contain provisions on compulsory licences, but none have been granted since 2005. Where required in the public interest or where the manner of exploitation of a patent 
is determined to be anti-competitive by a judicial  or administrative body, the responsible Minister 
may designate a third person or a Government agency to exploit the invention. Public interest reasons include national security, nutrition, and health, as well as the development of vital sectors of the economy. Upon request, courts may al so grant compulsory licences in the case of 
non-exploitation of a patent for at least 3 ye ars. In 2005, one compulsory licence had been 
granted to a Ghanaian company to produce HIV drugs. 
                                               
49 Swiss State Secretariat for Economic Affairs, SECO. Viewed at: http://www.seco-cooperation. 
admin.ch/laender/05148/05157/index.html?lang=fr . 
50 WTO document IP/N/1/GHA/1, 22 April 2002. Ghana re plied to questions posed by Australia, Canada, 
the European Communit ies, Japan, Switzerland, and the United States, thereby also referring to its new 
legislation (WTO documents IP/Q/GHA/1, IP/Q2/GHA/1,  IP/Q3/GHA/1, and IP/Q4/GHA/1, 9 February 2004). 
51 See the following link: http://www.upov.int .  
52 Ghana Copyright Office onli ne information. Viewed at: http://www.copyright.gov.gh/ . 
53 Registrar General's Department online information. Viewed at: http://rgd.gov.gh/ . WT/TPR/S/298 • Ghana 
 
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  Table 3.11 Overview of IPR protection, 2013 
Coverage Duration Selected exclusions  and limitations 
Patent Act:  
http://www.wipo.int/wipolex/en/text.jsp?file_id=223077  
Patents 
any product or process that is 
new, involves an inventive step 
and is susceptible to industrial 
application 
Utility models 
product or process that is new and 
susceptible to industrial application 20 years from 
the date of 
application. 
Seven years for 
utility models No patent can be granted for: (1) discoveries, or scientific and 
mathematical theories; (2) schemes, rules or methods for doing 
business, performing purely mental acts or playing games; 
(3) methods for treatment of the human or animal body by surgery 
or therapy, as well as diagnostic methods practiced on the human or 
animal body (except for products used in any of these methods); 
(4) inventions contrary to public order or morality; (5) plants and 
animals other than micro-organisms; (6) biological processes for the 
protection of plants or animals other than non-biological and micro-
biological processes, and (7) plant varieties. 
Industrial Designs Act 2003 (Act 660):  
http://www.wipo.int/wipolex/fr/text.jsp?file_id=223028  
Industrial designs 
Any composition of lines or colours 
or any three-dimensional form, 
material, or textile design where 
the composition, form or 
handicraft gives a special 
appearance to a product of 
industry or handicraft and can 
serve as a pattern for a product of 
industry or handicraft 5 years from the 
date of 
application, 
renewable for up 
to 2 consecutive 
periods of 
5 years Anything in an industrial design serving solely to obtain technical 
result. 
Copyright Act 2005:  
http://www.parliament.gh/  
Copyright and neighbouring 
rights 
Literary, artistic, musical, audio-
visual, choreographic, and 
derivative works; sound 
recordings; computer software or 
programs Moral rights: in 
perpetuity;  
Economic rights: 
the author's life 
plus 70 years  Ideas, concepts, procedures, methods, or other things of similar 
nature. 
Permitted use of work protected by copyright includes reproduction, 
translation, adaptation for exclusive personal use. 
Trade Marks Act 2004:  
http://www.wipo.int/wipolex/en/text.jsp?file_id=218529  
Trade marks 
Any sign or combination of signs 
capable of distinguishing goods or 
services from others  10 years, 
renewable 
indefinitely at 
10-year intervals No trademark protection can be granted to misleading names and 
names contrary to public order and morals. 
Geographical Indications Act 2003:  
http://www.wipo.int/wipolex/en/text.jsp?file_id=223004  
Geographical indication 
Any indication that identifies a 
good as originating in the territory 
of a country, region, or locality  Indefinite Indications that are contrary to public order or morality. 
Indications that are not protected in their country of origin. 
Layout Designs of Integ rated Circuit Act (2004):  
http://www.wipo.int/wipolex/fr/text.jsp?file_id=223034   
Layout designs 
Layout designs of integrated 
circuits  10 years  
Protection Against Unfair Competition Act (2000):  
http://www.wipo.int/wipolex/en/text.jsp?file_id=223053  
Undisclosed information 
Business secrets of commercial 
value, undisclosed data and tests No specific term  
Source: WTO Secretariat. 
3.113.  With respect to the principle of intern ational exhaustion and parallel imports, Ghana's 
patent and trademark legislation provides for the following: 
 The Patent Act, 2003 (Act 657), Section 11 (4a); the rights under the patent shall not 
extend to acts in respect of articles which have been put on the market in any country 
by the owner of the patent or with the owner's consent; 
 The Trade Marks Act, 2004 (Act 664), Section 9 (6); the rights conferred by registration 
of a mark shall not extend to acts in respect of articles which have been put on the 
market in any country by the registered owner or with the consent of the owner. WT/TPR/S/298 • Ghana 
 
- 62 - 
 
  3.114.  Under Article 27 of the Copyright Act, imported blank video and audio cassettes are 
subject to a levy of 20% collected by Customs. Income derived from the levy is earmarked for activities of the Copyright Office, under the Minist ry of Justice. In the Doha negotiations, Ghana 
shares the views of the "W52" sponsors of a proposal for "modalities" in negotiations on 
geographical indications (the multilateral register for wines and spirits, and extending the higher 
level of protection beyond wines and spirits) and "disclosure" (patent applicants to disclose the origin of genetic resources and traditional knowledge used in the inventions).
54 
3.3.2.3  Enforcement 
3.115.  Rights-holders of infringing goods that ar e suspected of having been either produced or 
imported into Ghana may approach the Commercial Crime Unit (CCU) of the Criminal Investigation Department (CID) of the Ghana Police Service.
55 The CCU has a specific IP section. Apparently, 
most of the CCU's investigations into IP violations originate from tips from either rights-holders or 
from informants. Under Ghanaian law, there is a reward for information that leads to the discovery of infringing goods and conviction of the infringer; certain enterprising individuals make their living 
as professional informants. Upon receiving a tip about infringing goods, the CCU will investigate 
and upon confirmation that the goods are infringing, is empowered to seize the infringing goods and to arrest any persons in possession of infrin ging goods. The CCU may allow rights-holders to 
participate in raids.  
3.116.  The Preventive Unit of CID has a Rapid Response Unit (RRU) that has the capacity to 
prevent the often quick dissemination of infringing goods. The RRU is used when it is known to a 
high degree of certainty the location and mean s by which a shipment of infringing goods or 
otherwise illicit products are entering the country. A court order is usually required before the RRU 
will investigate possible IPR violations. Ghana has replied to the WTO checklist of issues on enforcement.
56  
3.117.  Other measures taken by the Government to reduce IPR infringements include seminars 
for small and medium-sized enterprises, workshops for research institutions and universities, training of customs officials, and public awar eness campaigns for consumers and manufacturers, 
e.g. through the installation of billboards on major streets. Furthermore, recently established 
commercial courts (section 2.1) also  deal with IPR infringements.  
3.118.  Customs is in principle in charge of enforcing IPRs at the border. It frequently works in 
cooperation with the GSA (for high risk goods su bject to technical regulations), and with the FDA 
(food products, tobacco and medicines). The latter maintains on its websites reports of recent 
seizures and other interventions.
57 According to certain reports, 30-50% of all drugs sold on the 
Ghanaian market are substandard or counterfeit.  
3.119.  A Task Force on Seizure and Disposal of Pirated Ghanaian Textile Prints, and a Vetting 
Committee on the Importation of African Textile Prints  have been set up in Accra, under the MOTI.  
3.3.3  Research and development support 
3.120.  A number of public institutions work to promote research and technological development in 
Ghana, generally under the supervision of the MO TI and the Ministry of Education, Science and 
Technology. Several have a particular focus on SMEs: 
 The Council for Scientific and Industrial Research (CSIR), established in 1968, is a 
statutory organization responsible for coordinating scientific and industrial research. It 
has 13 research institutes and centres under its control, and covers both agricultural and manufacturing research on, inter alia , crops, livestock, soil and land use, forestry, food 
processing, and transportation. The Council is required to generate at least 30% of its 
operational budget;  
                                               
54 WTO document TN/C/W/52, 19 July 2008. Viewed at: https://docs.wto.org/dol2fe/Pages/SS/ 
directdoc.aspx?file name=Q:/TN/C/W52.pdf . 
55 Information Toolkit provided by the U.S. Government. Viewed at: http://iipdigital.usembassy.gov/ 
iipdigital-en/index.html#axzz2xtpkR25y .  
56 WTO document IP/N/6/GHA/1, 4 December 2001. 
57 Food and Drug Authority online information. Viewed at: http://www.fdaghana.gov.gh . WT/TPR/S/298 • Ghana 
 
- 63 - 
 
   The Ghana Atomic Energy Commission (GAEC);  
 The Development and Application of Intermediate Technology (DAPIT);  
 The Rural Enterprise Project (REP); 
 The Ghana Regional Appropriate Technology  Industrial Service Foundation (GRATIS), 
under MOTI, provides training and technical assistance to artisans and small and 
medium-sized enterprises (SMEs); 
 The National Board for Small-Scale Industri es (NBSSI), established in 1981 and also 
under MOTI, has the objective of promoting and developing micro- and small-scale 
enterprises.58 It organizes business improvement programmes for existing companies 
and runs a number of district-based business advisory centres to promote entrepreneurship, with a view to creating employment opportunities, increasing income 
levels of the rural population, and reducing rural-urban migration;  
 The Government Loan Guarantee Scheme provides government guarantees for loans to 
SMEs.  
3.121.  With a view to promoting regional diversification, manufacturing companies located outside 
Accra or Tema benefit from a corporate tax rebate set at 25% for companies located in regional capitals, and 50% for companies located elsewhere in Ghana. This policy has not led to significant 
regional diversification, as most industries are still concentrated in the Greater Accra area.  
3.3.4  State-trading and othe r state-owned enterprises  
3.122.  Ghana notified the WTO in 2004 that it did not have any state-trading enterprises within 
the meaning of GATT Article XVII
59, namely, government-owned or non-government-owned 
companies, including marketing boards, to which exclusive or special rights or privileges have 
been granted, including legal or constitutional powers through whose exercise, by means of their 
acts or sales, they affect the level or trend in imports or exports of goods. Table 3.12 provides a 
list of companies with government holdings, some of which are internationally active. The Cocoa 
Marketing Company, a subsidiary of the Ghana Co coa Board, has an export monopoly for cocoa 
beans, and should be notified to the WTO. 
3.123.  The 100% state-owned Ghana National Procurement Agency Limited (GNPA Ltd.) is 
responsible for the "supply of agricultural raw material inputs to local industries under the Rural Enterprises Development Programme, particularly in  the area of agri-processing, and undertakes 
bulk purchases of designated commodities for sale to the local and export markets. Its role also 
includes the establishment of Export Trade Houses to specialize in export market, where SMEs can 
enter the international market thereby focusing on production only".
60 GNPA Ltd. does not report 
to the State Enterprise Commission. 
3.124.  Ghana's divestiture programme exists since 1988, when more than 300 state-owned 
enterprises were in operation; most were privatized or liquidated in the 1990s. Privatization is carried out by the Divestiture Implementation Committee. The most common divestiture 
procedure is the sale of assets through competitive tender. The investor who submits the highest 
price bid opened is invited for negotiations on the draft sale and purchase agreement and discussion of a business plan. An investor may be asked to submit a bond to the Committee before negotiations start. Some 10% of divestiture proceeds are earmarked for the Export Development 
and Agricultural Investment Fund, while the remainder goes to the state budget. The Committee 
and the Commission are two different legal entities  with different functions and do not report to 
each other.  
3.125.  Currently, state-owned enterprises are particularly important in petroleum refining and 
distribution, electricity generation and distributi on, media, transport, and postal services. The 
                                               
58 NBSSI online information. Viewed at: http://www.nbssi.org/ . 
59 WTO document G/STR/N/10/GHA, 19 April 2004. 
60 GNPA Ltd. online information. Viewed at: http://www.gnpa-ghana.com/about_gnpa.htm . WT/TPR/S/298 • Ghana 
 
- 64 - 
 
  State holds a stake in the following companies: Ghana International Airlines (70%), VALCO (90%), 
Ghana Commercial Bank (34%), Cocoa Processing Company (60%), AngloAshanti Gold (3%), and 
Ghana Bauxite Company (20%). Furthermore, the State holds a 10% stake in all mining companies.  
Table 3.12 Income of enterprises with  state ownership, 2007 and 2010-12 
(₵ million) 
 2007  2010  2011 2012 Growth 
rates 
2007-12 
(% p.a.)  
Total 3,870.3  7,631.8  7,949.3 9,160.7 18.8  
Share in GDP 16.7 16.6 13.3 12.5 .. 
Architectural Engineering Services Ltd. 4.6 5.4 9.8 10.4 17.5 
Aviation Social Centre Ltd. 0.5 0.5 0.7 0.8 9.2 
Electricity Company of Ghana 623.6 976.5 1,218.2 1,464.4 18.6 
Ghana Airports Company Ltd. 36.4 55.5 73.3 94.0 20.9 
Ghana Civil Aviation Auth ority 33.6 36.7 43.3 52.5 9.3 
Ghana Cocoa Board 2,025.1 2,930.4 3,951.0 4,252.1 16.0 
Ghana Cylinder Manufacturing Company Ltd. 0.6 0.9 2.9 6.6 61.0 
Ghana National Petroleum Corporation  10.5 1,738.8 519.9 756.0 135.1 
Ghana Ports and Harbours Auth ority 128.0 177.2 267.5 360.7 23.0 
Ghana Post Company Ltd. 19.3 28.1 26.7 29.3 8.8 
Ghana Publishing Company Ltd. 2.2 2.9 3.5 3.1 6.6 
Ghana Supply Company Ltd. 1.3 0.9 0.7 1.3 0.8 
Ghana Trade Fair Company Ltd. 1.7 2.2 3.6 4.4 21.2 
Ghana Water Company Ltd. 105.8 148.8 172.6 179.7 11.2 
GIHOC Distilleries Company Ltd. 15.1 23.7 26.2 35.9 18.9 
GNPA Ltd. 4.0 1.5 0.9 0.3 -38.7 
Graphic Communications Group Ltd. 25.8 27.9 30.7 42.6 10.5 
Ghana Grid Company Ltd. .. 165.0 235.6 271.8 .. 
New Times Corporation 5.8 7.7 9.8 11.9 15.3 
Precious Minerals Marketing Company 75.1 150.1 148.8 166.3 17.2 
State Housing Company Ltd. 3.8 4.9 5.6 2.3 -9.5 
Tema Development Corporation 10.6 11.1 15.8 28.9 22.3 
Volta Lake Transport Company Ltd. 3.3 4.1 9.1 10.5 26.0 
Volta River Authority 724.5 1,114.3 1,159.1 1,353.0 13.3 
Ghana Oil Company Ltd. .. .. .. .. .. 
Ghana Railway Company Ltd. .. .. .. .. .. 
Tema Oil Refinery .. .. .. .. .. 
Volta Aluminium Company (VALCO) .. .. .. .. .. 
Community Water and Sanitation Agency .. 0.8 0.2 2.4 .. 
Ghana Broadcasting Corporation 8.5 13.4 11.6 17.1 15.0 
Ghana Highway Authority .. 1.6 0.2 0.3 .. 
Ghana Meteorological Agency 0.0 0.1 0.4 0.7 86.4 
Ghana News Agency 0.0 0.0 0.1 0.2 43.2 
Grains and Legumes Development Board 0.0 0.1 0.2 0.1 17.3 
ICOUR Ghana Limited 0.0 0.1 0.3 0.5 98.7 
Irrigation Development Authority 0.0 0.2 0.1 0.1 41.0 
National Theatre of Ghana 0.5 0.5 0.6 0.6 3.5 
.. Not available. 
Source: State Enterprises Commissio n, Ghana Statistical Service. 
3.126.  Many state-owned enterprises (SOEs) have performed inadequately over the years. 
Factors which have contributed to this include over-staffing and excessive bureaucracy; a lack of 
technical expertise; the absence of commitment and entrepreneurial direction; and inadequate 
working capital and investment in new plant and machinery, leading to low capacity utilization. Unfortunately, in past years, almost all the divested SOEs have also failed to meet the very reasons that justified their sale. According to industry observers, most if not all divested entities 
have performed badly. 
3.3.5  Competition policy  3.127.  The Protection Against Unfair Competition Act of 2000 (Act 589) contains provisions on 
fraudulent competition, in particular with regard to misleading information on characteristics of a WT/TPR/S/298 • Ghana 
 
- 65 - 
 
  product or service offered, or confusing use of trade marks.61 Any person who considers they have 
been injured by an act of unfair competition may bring an action for an injunction to prevent the act and for an award of damages.  
3.128.  Ghana does not otherwise have legislation on anti-competitive practices, such as abuse of 
dominant position, price-fixing, or market-sharing. A draft bill has been under consideration for 
several years, but has not been enacted. The National Communication Authority (section 4.7.2) and the Banking Supervision Department of the Bank of Ghana (section 4.7.1.1) have the 
mandate, under sector-specific legislation, to monitor competition in telecommunications and 
banking, respectively. 
3.3.6  Local content requirements 3.129.  Ghana does not maintain any countertrade or offsetting arrangements, or local-content 
requirements. However, a new law, the Ghana Shipping (Amendment) Act, 2011 (section 4.7.3.2) 
and a new policy (section 4.4.2) are intended to increase local participation in the oil and gas industry. It has been questioned whether these new measures potentially run counter to the 
provisions of the WTO Agreement on Trade-Relate d Investment Measures (TRIMs Agreement) and 
the General Agreements on Trade in Services (GATS).
62 
3.3.7  Government procurement 
3.130.  The Public Procurement Act of 2003 app lies to all procurement of goods, works, and 
services by ministries and other government agen cies, public institutions, e.g. universities and 
hospitals, and state-owned enterprises to the ex tent that they use public funds. The Public 
Procurement Act is under review, to include revisions made to the UNCITRAL Model Law on 
Procurement of Goods, Construction and Services in the areas of sustainable public procurement, 
improved procurement processes, circumstances fo r the exclusion or suspension of suppliers or 
contracts, and provisions to facilitate the implementation of framework contracting63 and 
e-procurement. Regulations have not been publis hed, according to the authorities, pending the 
review of the Act.  
3.131.  The Public Procurement Authority is the ce ntral body for policy formulation, and oversight 
authority. The Authority must ensure that public procurement is carried out in a fair, transparent, 
and non-discriminatory manner in order to secure the judicious and efficient use of state resources. It has ten members, appointed by th e President, of which three must be from the 
private sector. Public procurement itself is de centralized, and there are over 1,000 procuring 
entities; each ministry or public institution mu st establish a procurement entity responsible for 
setting procurement plans and carrying out procurement in accordance with the Public Procurement Act. The Authority has developed manuals and training modules, and has elaborated 
standard tender documents. All invitations to tender must be published in the Procurement Bulletin  
and on the Board's website, which is up-to-date and contains all applicable rules and procedures.
64  
3.132.  The Public Procurement Act provides fo r various procurement methods: international 
competitive tendering, national competitive tendering, restricted tendering, single-source 
procurement, request for price quotation; and Low or Minor value procurement.65 In 2011, 
national competitive tendering was the preferre d procurement method (Chart 3.6), followed by 
restrictive tendering (31.4% of total tenders). International competitive tendering, which 
accounted for 3% of the total, must be used for the procurement of works above ₵15 billion, 
services above ₵20billion, and technical services above ₵2 billion; it must also be used when 
effective competition can only be obtained through the participation of foreign firms.  
                                               
61 The Act was viewed at the following address: http://www.wipo.int/wipolex /en/text.jsp?file_id= 
223053 . 
62 Ventures online information. Viewed at: http://www.ventures-africa.com/2013/06/ghana-cabinet-
okays-local-content-policy-for-oil-sector/  [10 June 2013]. 
63 A Framework Agreement (FWA) also known as "blank et purchase agreement" establishes the general 
terms governing contracts to be awarded during a given pe riod, in particular with regard to price and, where 
appropriate, the quantity envisaged. The first stage involves establishment of the FWA through the normal 
tendering process; in the second stage, call-offs of the quantities required are made against the FWA. 
64 Public Procurement Board onli ne information. Viewed at: http://www.ppbghana.org . 
65 Ministers may decide that it is in the national interest to use a different procedure. In this case, the 
Minister defines and publishes the method of procurement to be followed in the National Gazette . WT/TPR/S/298 • Ghana 
 
- 66 - 
 
  Chart 3.6 Government Procurement, 2011 
(Shares of total by tendering method) 
National competitive 
tendering
51.2%
International 
competitive tendering
3.0%Price quotation
7.5%Single source
6.1%Restricted tendering
31.4%Other
0.1%g
 
Source: Information provided by the authorities. 
3.133.  A procurement entity may grant a margin of preference for certain suppliers; while the 
nationality of the supplier is irrelevant, a minimum percentage of national content, specified in the Regulations and varying with the type of good, is crucial. Goods satisfying the local-content conditions attract a margin of preference of up to 20%, depending on the local content. The 
margin must be approved by the PPA. Statistical data are not available on the share of imports in 
public procurement in Ghana. 
3.134.  Any supplier who claims to have suffered loss or injury may, if the contract has not already 
entered into force, complain in writing to the head of the procurement entity. The Appeals and 
Complaints Panel of the Authority received, considered, and concluded ten cases in 2011. Ghana is neither a signatory nor an observer to the WTO Agreement on Government Procurement. The 
state-owned Ghana National Procurement Agency Ltd. has been transformed into an export 
promotion institution (section 3.2.7 above), and is no longer in charge of public procurement.  WT/TPR/S/298 • Ghana 
 
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  4  TRADE POLICIES BY SECTOR 
4.1  Agriculture 4.1.  Multiple factors have contributed to the good performance of Ghanaian agriculture 
since 2007. Growing per capita incomes fuelled by  the mining sector boosted domestic demand 
and prices paid for food crops and livestock. Positive trends in world prices of cocoa have helped. 
Perhaps most importantly however, domestic agricultural prices in local currency of exported commodities have grown dynamically (Chart 4.1) (albeit under the effect of the nominal currency 
depreciation), thus boosting nominal farm incomes proportionately. Agricultural GDP expanded by 
4.6% annually between 2007 and 201 2 (Table 1.1). Food output has been increasing significantly 
faster than population, by 6% per year over 2006-12. However, production growth since 2006 has been driven more by area expansion than by yield improvements. 
Chart 4.1 Agricultural production and prices, 2000-12 
90100110120130140150160170180
01002003004005006007008009001,0001,1001,2001,300
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Cassava
Plantain
Taro (cocoyam)
Yams
Cocoa, beans
Agriculture net production index (right-hand scale)
Real Effective Exchange Rate (right-hand scale)(Index 2000 =100)
Producer price indexa
 
a No data available for 2012. 
Source: FAOSTAT and IMF International Financial Statistics (IFS). 
4.2.  Ghana's agricultural production is presented in Table 4.1. As shown in the table, the growth 
in production has come mostly from cassava and yam, whose output expanded by over 7% 
annually in volume terms. These two products represent the bulk of Ghanaian agricultural output; as can be seen from the Table 4.1, Ghana accounts for a significant share of the world's output of 
these products. Ghana's main agri-food export, coco a, has also experienced impressive production 
advances. In contrast, growth has been sluggish for the fishing and livestock sectors, and strongly negative for forestry. 
Table 4.1 Production of 25 main ag ricultural crops, by value, 2006-12 
(Thousand tonnes and value in US$) 
Items  Production ('000 tonnes)  
2011 
share 
of 
world 
(%) Net 
production 
value 
(constant 
2004-06) 
(million 
Int. US$) 2006 2007 2008 2009 2010 2011 2012 
Cassava 9,638 10,218  11,351  12,231  13,504  14,241  14,547 5.6 1,488  
Yams 4,288 4,376  4,895  5,778  5,960  6,295  6,639 11.1 1,606  
Plantains 2,900 3,234  3,338  3,563  3,538  3,620  .. 9.6 747  
Oil, palm fruit 2,097 1,685  1,897  2,104  2,004  2,004  1,900 0.9 .. 
Maize 1,189 1,220  1,470  1,620  1,872  1,684  1,950 0.2 126  
Taro (cocoyam) 1,660 1,690  1,688  1,504  1,355  1,300  1,270 13.5 276 
Cocoa, beans 734 615  681 711 632 1,024  879 15.2 727  
Oranges 470 520 550 560 580 600 .. 0.9 116 
Groundnuts, with shell 520 302  470 526 531 465 475 1.2 197  
Rice, paddy 250 185 302 391 492 464 481 0.1 126 
Tomatoes 176 180  284 318 319 321 .. 0.2 118  
Coconuts 315 316 316 274 292 292 305 0.5 32 WT/TPR/S/298 • Ghana 
 
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  Items  Production ('000 tonnes)  
2011 
share 
of 
world 
(%) Net 
production 
value 
(constant 
2004-06) 
(million 
Int. US$) 2006 2007 2008 2009 2010 2011 2012 
Sorghum 315 155  331 351 324 287 280 0.5 44  
Millet 165 113 194 246 219 184 180 0.7 33 
Sugar cane 140 145  145 145 145 145 148 0.0 5  
Sweet potatoes 98 102 112 122 120 130 135 0.1 10 
Oil, palm 121 122  128 130 120 122 122 0.3 53  
Onions, dry 43 43 44 90 100 120 .. 0.1 25 
Beer of barley 138 130  139 142 86 120 .. 0.1 ..  
Chillies and peppers, green 150 110 90 85 90 95 .. 0.3 45 
Chillies and peppers, dry 78 81  94 94 90 88 .. 2.5 96  
Mangoes, mangosteens, guavas  7 7 7 75 80 85 .. 0.2 51 
Bananas 56 58  63 65 70 75 .. 0.1 21  
Karite nuts (sheanuts) 72 54 68 70 71 72 74 10.0 10 
Fruit, fresh n.e.s. 54 61  63 67 66 67 .. 0.2 23  
.. Not available. 
a 25 items are identified by the volume of production in 2011. 
Source: FAO Stat. Viewed at: http://faostat3.fao.org/faostat -gateway/go/to/download/Q/*/e  
[3 October 2013]. 
4.1.1  Agricultural policy 
4.3.  The development of the agricultural sector is considered a priority by the Government, under 
the responsibility of the Ministry of Food and Agriculture (MOFA).1 Since 2007, the Government 
has maintained its declared policy of supporting agri-food production and exports, as spelled out in 
the Ghana Shared Growth and Development Agenda (GSGDA) and in the Revised Food and 
Agricultural Sector Development Policy (FASDEP II).2 The current stated priorities are to accelerate 
agricultural modernization and achieve sustainable natural resource management. Improving 
efficiency and productivity are also priorities, to increase exports.  
4.4.  The Medium Agricultural Sector Investment Plan (METASIP) also provides a plan for 
agricultural modernization.3 The main areas for policy intervention in the sector, as outlined by 
FASDEP II are: (i) infrastructure development, in particular through the construction of feeder 
roads and storage facilities, and the improvement of irrigation; (ii) the provision of appropriate technology through agricultural research and de velopment; and (iii) the provision of public 
extension services. The Ministry of Agriculture is of the view that efficiencies and agricultural 
productivity increases cannot be achieved with out a renewed focus on research (see below).  
4.5.  The modernization of the agriculture sector wa s projected to be an important driver of growth 
in the medium-term under the GSGDA on the basis of  improved productivity (e.g. adoption of high 
yield varieties, improved seedlings, use of pesticides and spraying technologies, and mass 
spraying in the cocoa sub-sector) and increased acreage due to factors such as improved irrigation, subsidized inputs, improved mechanization services along the value chain, improved 
marketing, improved extension services and improved institutional coordination for agricultural 
development. However, external factors affecting th e agricultural sector included flooding, drought 
experienced in several parts of the country and delays in initiating major irrigation infrastructure facilities. 
4.6.  Ghana has signed the NEPAD's Comprehensive Africa Agriculture Development Programme 
(CAADP), which set a target to allocate 10% of government expenditure on agriculture by 2008.
4 
In 2009, about 10% of government expenditure wa s spent on agriculture, and over the last 
three-year period (2010-12), the average share was higher, at over 11%.  
4.7.  Main border measures have not changed sinc e the last TPR in 2008. Ghana's last notification 
to the WTO Committee on Agriculture, submitted in 2001 indicated that it was not granting export 
subsidies to agricultural products. SPS measures are under the responsibility of the Directorates of 
                                               
1 Ministry of Food and Agricultur e online information. Viewed at: http://mofa.gov.gh . 
2 National Development Planning Commission (2010). 
3 Ministry of Food and Agriculture (2010). 
4 New Partnership for Africa's Development (NEPAD) online information. Viewed at: 
http://www.nepad.org/foodsecurity/agriculture/about . WT/TPR/S/298 • Ghana 
 
- 69 - 
 
  Plant Protection and Regulatory Services, and of Veterinary Services of the MOFA 
(section 3.3.1.5). Export agreements containing SPS provisions have been signed with Lebanon (as mangoes), and with China (cassava and products).  
4.8.  The tariff is the main trade policy instrument in the agriculture sector. The average applied 
MFN tariff on agriculture products (major division 1 of ISIC Rev.2) is 15.7% (Table 3.1). 
Machinery, plant, apparatus, and spare parts fo r agricultural purposes are exempt from the 
payment of import tariffs and VAT; but numerous other import charges remain, as described 
below. The exemption from the payment of VAT coul d prove to be a mixed blessing, as this means 
that VAT paid on inputs cannot be claimed back. Furthermore, animal products " in the raw state", produced in Ghana are exempt from VAT.
5 
4.9.  Together with other Members, Ghana su bmitted a negotiation proposal on agriculture 
in 2003.3 The proposal calls for an exemption of tariff reduction commitments for poor and highly 
indebted (IDA-only) countries, and guaranteed access to a new special safeguard mechanism for 
all agricultural products to address emergency si tuations deriving from import surges and steep 
price drops. 
4.1.1.1  Income tax measures 4.10.  Tax reductions and holidays are in place to encourage investments in agriculture, in 
agreement with the GIPC (section 2.4.4 and Table 1.2). As compared to the regular corporate tax 
of 25% (Table 1.2), agri-processing companies and companies producing cocoa by-products are subject to a reduced tax rate (0-20%). Entreprene urs planting tree crops are offered a 10-year tax 
holiday starting from the first harvest; businesses investing in livestock (except cattle), fish and 
cash crops are entitled to a five-year tax holiday starting the year of commencement of business. 
Cattle businesses are granted 10-year tax holidays, and three years for agri-processing companies. Agro-industries companies in regional capitals other than Accra or Tema will pay 75% 
of the regular corporate tax rate, whilst those located elsewhere enjoy a 50% tax relief. For 
investments of over US$50 million, which are considered strategic, conditions are negotiated on a case-by-case basis. 
4.1.1.2  Irrigation 
4.11.  Less than 2% of agricultural land in Ghana is under irrigation, and there is a quasi-total 
reliance on rain-fed agriculture. The Ghana Irrigation Development Authority (GIDA) at MOFA is 
responsible for the development of irrigation.
6 
4.1.1.3  Subsidized farm equipment 
4.12.  Currently, the tractor-farmer ratio stands at 1:1,500, suggesting that productivity increases 
in Ghanaian agriculture are potentially huge. In  2010, Ghana had an estimated 11 tractors per 
100 square kilometres of arable land, compared to 43 and 25 tractors in South Africa and Kenya, 
respectively. Since 2007, agricultural mechanization centres have been set up by the Government to provide services to farmers, under the AMSEC Programme. The scheme was being expanded 
in 2014, with 89 AMSECs in different districts of the country. Import taxes on tractor spare parts 
are apparently numerous, and merit reviewing (import duty, VAT, NHIS, ECOWAS levy, and EDAIF 
levy). 
4.1.1.4  Fertilizers, insecticides, and fungicides  
4.13.  Fertilizer application rate in Ghana is one of the lowest in the world, and lower than in 
neighbouring countries. In an effort to address the low fertilizer usage, in 2010 the Government passed the Plants and Fertilizer Act, 2010 (Act  803), followed by the Plant and Fertilizer 
Regulations, 2012 (L.I. 2194). Under Act 803, the role of the private sector in the importation 
process has been increased, whilst a programme subsidizes fertilizers that are imported privately and sold in privately-owned input outlets across the country, as well as insecticides, herbicides and 
fungicides. The Government provides a subsidy to lower the cost of fertilizers to farmers, which 
                                               
5 Tariff Book 2012; see also Table 3.6. 
6 GIDA online information. Viewed at: http://mofa.gov.gh/site/?page_id=2976 . WT/TPR/S/298 • Ghana 
 
- 70 - 
 
  stood at 42% of the retail cost in 2010. About 40% of total imports enter under this programme. 
Although the Government has waived customs duties for fertilizer, numerous other charges and levies appear to apply to imports and merit reviewing.  
4.14.  Currently, there are eight major importers and between 35 and 50 major distributors. YARA, 
the leading fertilizer company, is one of the major importers in Ghana and has a market share of 
50-60% of fertilizer imports. Despite the strong participation of the private sector in the market, and the Government support, fertilizer consumptio n does not yet show signs of increasing from 
20-40 kg per hectare. Reported consumption of nitrogen fertilizer is significantly lower, at 6 kg per 
hectare. As a result of these low rates of fertilizer use, the yields of major crops are very low: 1.7 tonnes per hectare for maize and 2.4 tonnes per hectare for rice according to MOFA data. Distributors of fertilizers must obtain a licence from the EPA.  
4.1.1.5  Seeds 
4.15.  According to recent research, few field- crop farmers have access to improved seeds.
7 Seed 
supply is constrained by inadequate production of  both breeder and foundation seeds. The Plants 
and Fertilizer Act was passed to address this problem, and opens the door for an increased role for 
the private sector seeds production and trade. In  particular, private companies may import seeds 
provided that phytosanitary provisions are met. Th e regulations relating to the Act have yet to be 
developed. 
4.1.1.6  Agricultural research 4.16.  Agricultural research is undertaken by various public institutions, including the Animal 
Research Institute, the Crops Research Institute,  the Oil Palm Research Institute, the Savannah 
Agricultural Research Institute, the Food Resear ch Institute, the Plant Genetic Resources Centre, 
the Water Research Institute, and the Soil Resear ch Institute. All these institutions are grouped 
under the Council for Scientific and Industrial Research (CSIR) and are required to generate 
revenues to cover at least 30% of their operational budget. The Cocoa Research Institute of Ghana 
(CRIG), established in 1938, carries out research and advises on issues relating to the production of cocoa, coffee, kola, shea nut, and other indigenous oil tree crops. In 2012, the CSIR received 
₵233,650 from the government, and ₵4 million from the West Africa Agricultural Productivity 
Programme (WAAPP) for the implementation of research projects on roots and tubers, in collaboration with the National Agriculture Research Systems (NARS). Other projects such as Root and Tubers Improvement and Marketing Progra mme (RTIMP) and the Food and Agriculture 
Budgetary Supports (FABS) also make funds available for research. 
4.1.1.7  Rural finance and insurance 4.17.  An agricultural weather-index insurance pr oduct has been introduced on a pilot basis by 
MOFA in partnership with Ghana's meteorological services. This product is designed to offer 
protection against the negative effect of extreme weather events as well as finances to manage drought risk.  
4.18.  One of the main challenges facing agricultural development is the lack of credit to 
agriculture. A Rural and Agricultural Finance Programme (RAFiP) aims to improve the rural and agricultural population's access to sustainable financial services. RAFiP, which is implemented by the Ministry of Finance and Economic Planning, was declared effective in April 2011 and is 
expected to be implemented through 2016.  
4.1.1.8  Land tenure 4.19.  The Government is attempting to find a framework of co-operation between mainly large 
and foreign investors on the one hand, and small local landowners on the other. Such a framework 
would organize leases so as to increase production without evicting local populations in this process. Currently, much of Ghana's agricultural  land is "stool land", owned by communal or 
customary authorities. This may deter small- to medium-scale investments in agricultural land. 
The Ghana Commercial Agriculture Project being implemented by MOFA and the Lands Commission 
                                               
7 World Bank (2012a). WT/TPR/S/298 • Ghana 
 
- 71 - 
 
  is developing a land directory for investors seeking to acquire land for agriculture purposes. Model 
lease agreements are also to be prepared taking into consideration the concerns of both the land owners, other stakeholders and investors (see also section 2.4.6). 
4.1.2  Key sub-sectors 
4.1.2.1  Cocoa 
4.20.  Cocoa is by far Ghana's most important crop , accounting for 2.4% of GDP, but considerably 
more if its marketing is taken into account (an estimated 8.5%). About three quarters of output is 
produced by some 800,000 small-scale farms, but many others are engaged in trade, 
transportation, and processing of cocoa.
8 Production and exports have been on a rising trend 
since 2007. 
4.21.  Ghana's beans trade at a premium on worl d markets. This quality premium is achieved 
through a combination of on-farm and downstream interventions. In particular, improved 
agronomic practices and mass spraying have been key factors in boosting cocoa production, leading to record outputs (Table 4.2). Fluctuations in cocoa output have mainly been caused by 
irregular rainfalls and, in some cases, plant diseases. 
Table 4.2 Production and exports of cocoa, 1999-2013
 
(Tonnes unless otherwise specified) 
 Production Exports State revenue from duty 
on exported beans ( ₵ million)a F.o.b. export value 
(US$ million) 
1999/00 436,947 360,250 17,881  354.4 
2000/01 389,771 306,125 29,961  367.0 
2001/02 340,562 290,495 33,527  404.4 
2002/03 496,272 357,150 78,390  840.0 
2003/04 736,629 596,190 124,720  930.6 
2004/05 599,318 524,366 64,119 1,103.0 
2005/06 740,458 623,630 61,600 981.4 
2006/07 641,000 551,652  92,055 990.8  
2007/08 680,781  547,674  46,253  1,157.9  
2008/09 710,642  525,536  85,474  1,409.0  
2009/10 632,037 566,761 334,334 1,569.2 
2010/11 1,024,553 773,388 148,679 2,548.2 
2011/12 879,348 713,849 77,679 2,256.9 
2012/13 835,466 649,123 .. 1,618.5 
.. Not available. 
a Difference between export revenues,  and amount paid to producers. 
Source: WTO Secretariat, based on inform ation provided by Ghana Cocoa Board. 
4.22.  Ghana exports 78% of its production (down from 80% in 2007-08), to more than 
25 destinations worldwide, representing over 12% of total merchandise export value. Cocoa procurement and pricing are done by a state ma rketing board – COCOBOD –, Ghana being one of 
the only major cocoa producing countries in the world without a privatized marketing system. The 
COCOBOD, a semi-autonomous institution under the Mi nistry of Finance with some 7,300 staff, up 
from 5,700 in 2007 (Table 3.13), is responsible for cocoa research and marketing. Its website 
contains very little information.  
4.23.  Located in Accra with an office in Lond on, the Cocoa Marketing Company (CMC) is a wholly-
owned subsidiary of COCOBOD with the sole responsibility to market cocoa beans to both local and 
foreign buyers. CMC has monopoly rights over th e export of all cocoa beans from Ghana. Cocoa 
export revenues must be repatriated and converted into local currency at the BoG (section 1.2).  
                                               
8 World Bank (undated). WT/TPR/S/298 • Ghana 
 
- 72 - 
 
  4.24.  The CMC generally sells the country's co coa production forward on world markets. The 
producer price of cocoa is set in cedis by the Producer Price Review Committee (PPRC), in October of each year and in principle for the entire seas on. Little information is available about the pricing 
mechanism. Membership of the PPRC includes repres entatives of cocoa farmers, of licensed buying 
companies (LBCs), of the CMC, of COCOBOD, of the BoG, and the Ministry of Finance. The price is 
compulsory. A bonus may be paid to farmers, depending on the evolution of the world prices, as has been the case several times in recent years. If the prices are lower than expected, and the 
Government revenues are below expectat ions, the Government takes the loss. 
 
4.25.  In the view of the authorities, a key fact or for the development of production and trade is 
the stability of domestic producer prices, and a stable and predictable income, despite the reality of sharp fluctuations in both world market prices and in the value of the cedi.
9 According to the 
authorities, the current arrangements for determin ing producer prices ensure in principle that 
cocoa farmers receive more than 70% of the net f.o.b. price; the remaining 30% is spent on support services to farmers or on general budgetary expenditure. 
 
4.26.  Only LBCs may engage in internal trade an d marketing of cocoa. LBC status is granted by 
COCOBOD; licences have to be renewed annually and are subject to a nominal fee. There are 
currently 32 LBCs, up from 19 in 2007. They purchase cocoa directly from farmers on behalf of 
COCOBOD and bag it for delivery to COCOBOD at designated take-over centres, by private 
hauliers, on a commission basis. From the LBCs, CMC takes over the cocoa for export or further processing.  
4.27.  Cocoa farmers and producers are exempt from income tax. The other main subsidies and 
benefits provided by the State include the following (they are to be paid on revenue from the 
export taxes levied on cocoa shipments described below): 
 Scholarships provided by COCOBOD; 
 Seeds and hybrid seedlings provided at subsidized prices by CRIG and SPU; 
 Rehabilitation or replanting services by the Cocoa Swollen Shoot Virus Disease Control 
Unit; 
 Mistletoe removal, via CSSVDCU; 
 Cocoa roads, via funding from COCOBOD; 
 Farmers' housing via funding from COCOBOD; and 
 Farmers' pension scheme via COCOBOD funding. 
4.28.  All processing companies are obliged to purchase their cocoa beans from the COCOBOD, at 
a negotiated price based on the world market price. The Cocoa Processing Company Limited (CPC) processes cocoa beans for both export and the nati onal market. CPC was partly privatized in 2002, 
although the Government retains a 60% stake. There are several other privately-owned local and 
foreign companies engaged in processing cocoa into butter, liquor, cake, and powder. Most are producing in the free zones or under free zone provisions (section 3.2.8). The Government's 
medium-term objective is to process at least 40% of the cocoa output locally. The EU is the main 
destination for Ghana's exports of cocoa produc ts; EU Regulation 1528 provides duty-free access 
to the EU for all Ghanaian cocoa products, currently until October 2014 (section 2.4). 
4.29.  All exports of cocoa beans require a fumigation and quality assurance issued by COCOBOD's 
quality control division (QCD). Once quality-graded and fumigated, cocoa may bear the label 
"Ghana cocoa". Ghana is a member of the International Cocoa Organization. 
4.30.  In July 2012, a number of WTO members including Ghana recalled a concern raised 
in October 2011 in the WTO Committee on Agriculture about an EU decision concerning maximum 
                                               
9 UNCTAD (2013a). WT/TPR/S/298 • Ghana 
 
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  acceptable levels of cadmium in cacao and chocolate products.10 The request was that chocolate 
and cocoa products receive equal treatment as vegetables and cereals, to prevent any unjustified discrimination and unnecessary restrictions to trade.  Furthermore, if new cadmium levels were set, 
these should be based on an appropriate risk a ssessment, and comply with the WTO principles of 
proportionality, transparency and consideration of the special needs of developing countries.  
4.31.  Ghana imposes a 20% import tariff on cocoa and cocoa products. Because of concerns over 
smuggling, COCOBOD only permits the import of beans by ship, which increases costs compared 
to road transport.
11 Each year, there are nevertheless significant and mostly unrecorded, flows of 
cocoa traded across Ghana's borders, essentially between Ghana and Côte d'Ivoire. In particular, 
the recent depreciation of the cedi has raised the relative value of Ivorian farmgate prices (in cedis) compared with that of Ghana, and disco uraged cocoa smuggling out of Côte d'Ivoire into 
Ghana. In August 2013, farmgate prices in Ghana stood at a 13.1% premium relative to their 
equivalent in Côte d'Ivoire, compared with 22.3% at the beginning of September 2012. According to the authorities, the Government monitors thes e price differentials on a regular basis. When 
cocoa flows from Ghana to Cote d'Ivoire, COCOBOD is unable to market and collect revenues and 
duties on the tonnage smuggled. In other years, such as in 2010/11 (Table 4.2), Ivorian cocoa flows in the opposite direction, generating supplemental tax revenues for Ghana.  
4.32.  Recent innovations in organic and fair-trade cocoa production present additional 
opportunities for niche markets. Fair-trade cocoa accounted for only 0.1% of the market in the mid-2000s but has certainly increased subsequently. Ghana is a major source of fair-trade / organic beans, accounting for 45% of world supply in 2003. For example  Kuapa Kokoo 
is an association of cocoa farmers which also holds a 45% shareholding in Divine Chocolate, the 
confectionary that is certified as organic and fair-trade compliant. Kuapa Kokoo has established a mechanism with COCOBOD's endorsement in which production is organized by the producer 
association, with beans evacuated by their own LBC.  According to this association, there is a need 
to formalize arrangements for fair-trade and organic cocoa production so as to attract additional investments in these niche markets.  
4.1.2.2  Other agricultural products 
4.33.  The Government's priority commodities include maize, rice, soya, millet, sorghum and yam, 
all of which the MOFA is promoting, in order to enable the country to meet its food security needs, whilst hoping to reduce imports – particularly of rice. Average MFN tariffs are relatively high on 
live plants (20%), while they are lower on oil seeds and oleaginous fruits (9.4%). 
4.34.  Ghana relies on imports for more than 70% of its rice consumption, and demand continues 
to grow along with urbanization and increased in comes. Most locally-produced rice is grown by 
smallholder farmers, and with limited access to modern seeds and inputs, productivity tends to be 
low. Additionally, the rice mills available to th e typical farmer produce a large percentage of 
broken grains. These factors make it difficult for small farmers to compete with high-quality 
imports from the Americas and Asia. At the re quest of Government of Ghana, the Japanese 
Government supported the preparation of a Master Plan for the promotion of domestic rice industry. The Government of Ghana, as part of the arrangement to implement the study findings, 
decided to implement one of the recommended sy stems, namely the Rain-Fed Rice Promotion 
Programme, under Japanese grant assistance. Abou t 80% of domestic rice is produced semi-
intensively in lowlands. In addition, the expectation is that a big impact will be made in reducing poverty by supporting rice farmers who rely on unstable farming systems. The Programme 
duration is from July 2009 to July 2014. 
4.35.  In 2012, the Government launched the Ghanaian Yam  Strategy for Rural Development, 
which aims to massively increase the production and commercialization of yams and related crops 
in Ghana.
12 It is carried out in partnership with the International Trade Centre (ITC) and the 
International Institute of Tropical Agriculture (IITA), with stakeholder ownership and leadership. While Ghana is the world's second-largest yam pr oducer after Nigeria, only 30,000 tonnes of its 
total production of seven million tonnes are currently exported. At the moment, yam is exported 
                                               
10 Regulation (EC) No. 1881/2006, WTO document G/SPS/GEN/1173/Rev.1. 
11 World Bank (2012c). 
12 International Trade Center online information. Viewed at: http://www.intracen.org/news/Ghana-
producers-and-industry-experts-co-author-yam-sector-strategy/ . WT/TPR/S/298 • Ghana 
 
- 74 - 
 
  fresh. A wide range of products centred on yam are being envisaged to open up new markets in 
different parts of the world, for example, with noodle buyers in Nigeria, Turkey and Japan.  
4.36.  A private-public Coordinating Committee, including yam exporters, was established for the 
strategy's management and implementation. Several workshops were held in Ghana in 2012 
bringing together farmers, exporters, local and international buyers, processors, customs officials, 
donors, bankers, government representatives and research centres. The aim was to identify and prioritize the yam sector's problems, taking into consideration gender aspects, the environment 
and rural development. Participants set objectives such as making the management of farmer 
associations more professional, improving co mmercialization strategies, exploring product 
diversification possibilities and improving access to finance. The latter is described as one of the biggest obstacles preventing yam growers and traders from reaching their full potential 
(section 4.7.1 for recent developments regarding access to credit). 
4.37.  There is also a strong and as yet unmet regional demand for oilseed meals, which constitute 
the main protein source in the poultry and pig in dustries. Soya bean production is increasing. 
Investments in domestic production of good quality fishmeal and oil seed meal may be viable as 
the poultry and pig industries currently depend mostly on feed imports.  
4.38.  Many fruit and vegetables are exported  f r o m  G h a n a ,  m a i n l y  t o  t h e  E U .  H o w e v e r ,  
since 2004, this trade has been threatened by the rapid spread of the fruit fly disease. This pest 
has resulted in a rise in interceptions and destru ction of fruit exports destined for the EU market.
13 
In 2008, the Standards and Trade Development Facili ty (STDF) and ECOWAS, in collaboration with 
the World Bank initiated a coordinated multi-stakeholder approach to control fruit fly, involving all 
concerned stakeholders. This work resulted in th e development of a five-year, €25 million Regional 
Action Plan to control fruit fly in West Africa. In September 2009, national governments, research institutes, the private sector, donors and other pa rtners endorsed the Regional Action Plan and 
adopted the Bamako Declaration, a roadmap to operationalize this plan.  
4.1.2.3  Dairy, meat, and other animal products
 
4.39.  Almost 70% of meat and dairy consumed in the country is imported. MFN tariffs are set at 
the maximum rate (20%), and import bans are in place on certain products, raising import costs. 
Production has not taken off, partly suffers from animal feeding and healthcare issues. Increased poultry production is now a stated Government priority; government strategies to do so include new research into large scale breeding and production of guinea fowls, cattle, sheep, and goats, 
grass cutter (thryonomis swinderianus), ostrich, etc.; support to large scale cultivation of maize 
and soya-beans (see above) for the production of  animal feed and improved access to watering 
resources. Another objective is better provision of animal health services, and mass vaccination 
against Peste de Petit Ruminant (PPR) and against Newcastle disease in poultry.
14 Ghana imports 
approximately 10 million frozen poultry units an nually to bridge the gap between demand and 
domestic supply. 
4.40.  The poultry industry in Ghana is seeking investor partnerships to make full use of installed 
capacities at the hatcheries and for further expansion. Large quantities of beef, pork, and poultry products are imported. Opportunities therefore also exist in processing the increasing meat produced into products such as sausages, ham, bacon, and pickled pork etc.  
4.41.  The authorities have recognized that legislat ion in this field is archaic, dating from 1920-30, 
and explained that in practice the Codex and OIE legislations are used as regulatory guidelines. All imports of live animals are subject to a permit issu ed by the Veterinary Services Directorate at the 
MOFA (section 3.2). 
                                               
13 http://www.standardsfacility.org/Files /Briefings/STDF_Briefing_No4_EN_web.pdf . 
14 IMF (2012). WT/TPR/S/298 • Ghana 
 
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  4.2  Fishing and Aquaculture 
4.2.1  Overview 4.42.  The fishing sector is based on marine resources; on inland (freshwater) resources; and on 
aquaculture (about 0.3% of the total annual fi sh production). Ghana's coastline of 539 km 
comprises an EEZ of 200 nautical miles (nm), and a territorial sea and contiguous zone of 12 and 
24 nm respectively. Unlike many other countries in the region, Ghana derives 27% of its fishing 
production of close to 500,000  tonnes from inland waters, up from 19% in 2008; artisanal fishing 
accounts for most employment (Chart 4.2). The Volta Lake (8,442 km
2) is one of the world's 
20 largest inland bodies. Fishing plays a major role in the national economy, contributing 7% of GDP and employing about 10% of th e economically active population. Fish is a major source of 
animal protein consumption for Ghanaians. Average annual per capital fish consumption in Ghana 
is estimated at 20-25 kg, higher than the world average of 13 kg. Its development has encouraged 
growth of boat construction, boatin g supplies, and fishing equipment.  
Chart 4.2 Production of fish, 2008-12 
254
227213 209 21375
7583 95 9590
99 1071181207
7 101927
050100150200250300350400450500
2008 2009 2010 2011 2012Marine artisanal Inland artisanal Other marine fleet Aquaculture(1,000 tonnes)
 
Source: Information provided by the authorities. 
Chart 4.3 Fish trade, 2007-12 
 
0 50 100 150 200 250 300201220112010200920082007
Fish, fresh, chilled, frozen (SITC 034) Fish, dried, salted, smoked (SITC 035)
Crustaceans, molluscs, etc. (SITC 036) Prepared/prepared fish (SITC 037)0 1 02 03 04 05 06 07 0201220112010200920082007(US$ million)
Imports Exports
 
Source: UNSD Comtrade database, SITC Rev.3. WT/TPR/S/298 • Ghana 
 
- 76 - 
 
  4.43.  Industrial fish processing mainly consists of tuna canning and tuna fish meal production. 
Canned tuna is the most important export, but other fish are also exported in frozen or smoked form. Some of the largest companies are local-foreign joint ventures that are major suppliers of processed seafood products to the European mark ets. Although fishing production has increased 
since 2008, there has been a collapse in export revenues, mainly due to falls in exports of 
prepared fish; imports have significantly increased (Chart 4.3). 
4.2.2  Policy 
4.44.  The fisheries sector is under the responsibility of the Fisheries Commission which was 
established by the Fisheries Act 2002, Act 625 in 2002. The Fisheries Commission is now under the Ministry of Fisheries and Aquaculture Development which was established in January 2013. The Fisheries Act 2002, Act 625 (hereafter "the Act" ) and the Fisheries Regulations, 2010 (L.I. 1968) 
are the main legal instruments governing the sub-sector. 
4.45.  The reform of the fishing sector is a priori ty for the Government, under the responsibility of 
the Ministry of Fisheries. Stated priorities are to improve fisheries governance to achieve 
sustainable fisheries management; modernize fishin g fleets to meet SPS requirements in export 
markets; develop harbours and landing sites to improve fishing handling; reduce post-harvest losses; improve hygiene and sanitation at landing sites; and promote value addition for export to 
the EU under the Economic Partnership Agreement. 
4.46.  During the second national Fisheries Governance Dialogue, in late 2012, the Government 
recognized the need for a radical change in the way fisheries are being managed, and to address non-compliance issues such as fishing with lights; the use of chemicals; the use of banned nets; 
the absence of vessel registration; and the absence of a licensing framework.
15 One of the main 
challenges for the fishing sector is the lack of adequate cold storage facilities at landing sites. The existing fish-landing sites and related infrastructure for storage, processing and exports are too 
small and often do not meet international standa rds. The fleet of fishing crafts needs to be 
revamped with modern ones equipped with a ppropriate storage and processing facilities. 
4.47.  As established by the Fisheries Act (200 2), ownership of artisanal, semi-industrial or 
industrial fishing operations is restricted to Ghanaian citizens, but foreigners may own up to 50% 
of Ghanaian vessels engaged in tuna fishing. According to EU data, Ghanaian vessels are the second largest in terms of catches in the area regulated by the International Commission for the Conservation of Atlantic Tunas (ICCAT) (12% of  total catches, about 76,000 tonnes in 2012), after 
the EU. The vessels are Korean-owned. 
4.48.  All operations must be licensed by the Mini stry of Fisheries. The Fishery Product Regulations 
(2006) lay down general hygiene provisions for fish and fishery products, including requirements 
for landing and unloading fishery products, quality assurance, and production conditions.
16  
4.49.  Fisheries companies registered under the GIPC (section 2.4.4) are eligible for zero-rated 
customs duties and VAT on fishing nets and fishin g ropes. Fishing activities are exempt of VAT. 
VAT is levied on imported fish. 
4.50.  Several Ghanaian establishments are au thorized to export to the EU under its SPS 
requirements.17 In June 2013, the EU indicated that the continuation of duty-free imports of fish 
from Ghana under Regulation 1528 could cease by October 2014, and the higher GSP tariff rate 
would apply (see above section 2.3.4).18  
4.51.  Ghana has not entered into any access agreements allowing European vessels to exploit 
resources within its EEZ.19 According to the Ghanaian authoritie s, negotiations are ongoing for an 
access agreement. In fact, many foreign vessels do intrude into Ghana's EEZ. The monitoring, control and surveillance of the EEZ and the enforcem ent of the relevant fisheries' laws are weak, 
                                               
15 USAID (2012). 
16 WTO document G/TBT/N/GHA/4, 11 February 2007. 
17 Viewed at: https://webgate.ec.europa.eu/sanc o/traces/output/GH/FFP_GH_en.pdf . 
18 Http://agritrade.cta.int/en/Fisheries/Topics/Mar ket-access/Deadline-for-ending-free-EU-market-
access-for-Cote-d-Ivoire-Ghana-Kenya-and-Namibia . 
19 Http://ec.europa.eu/fisheries/cfp/international/agreements/ . WT/TPR/S/298 • Ghana 
 
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  making it difficult to assess the level of illegal fishing and therefore the catch by foreign vessels. 
Although the level of unlicensed intruders is unknown, it is considered high despite the existence since 2005 of a vessel monitoring system to chec k illegal fishing in Ghana's EEZ. In July 2013, 
ten fishing companies were fined by the Fish eries Commission for illegal, unregulated and 
unreported fishing (IUU) in the country's waters and in breach of Ghana's fishing regulations.  
4.3  Forestry 4.52.  The performance of the forest and logging sub-sectors has been strongly negative in recent 
years, particularly in 2011 and 2012 following measures to restrict illegal activities. About 35% of 
Ghana's land area is covered by forests and woodla nds, but this share is declining, with an annual 
rate of deforestation of 1.37%.
20 Almost all forest land in Ghana is vested in local communities and 
opened to traditional activities, including the collection of non-timber forest products, hunting, and 
fuel wood collection, which pa rtly explains the problem.  
4.53.  Log production has decreased considerably since 2001, while export volumes have declined 
less strongly (Table 4.3). Some 30 companies out of about 160 are responsible for around 80% of 
export volumes. The product content of Ghana’s wood exports consists mainly of primary wood 
products (billets and poles) which account for 2.5% of the total value in 2012; secondary products (lumber, boules, plywood and veneer), 91% of to tal value in 2012; and tertiary wood products 
(mouldings, flooring, dowels and profile boards), which contribute 7% to total export value. 
Nigeria has replaced the EU as the main destination of Ghana's plywood exports. 
Table 4.3 Forestry production, 2000, 2005, 2009-13 
Year Log 
production 
(m3) Share of 
exports in 
production 
(%) Export (volume) Export 
value Export 
tax 
revenue Export of 
timber 
products 
(m3) Primary  Secondary  Tertiary 
(US$ million) Share of total exports (%)  
2000 961,418 51.9 498,843 .. .. .. 175.2 .. 
2005 934,886 49.9 466,156 .. .. .. 184.0 .. 
2009 760,953 56.0 426,222 15.1 80.9 4.0 192.3 2.8 
2010 901,155 44.7 403,254 8.8 86.1 5.1 190.2 2.9 
2011 769,239 41.6 319,843 8.6 85.8 5.6 163.3 1.8 
2012 866,151 29.0 251,246 4.3 90.6 5.1 131.8 1.6 
2013 881,017 30.7 270,584 .. .. .. 158.8 1.4 
.. Not available. 
a Provisional. 
Source: Information provided by authorities. 
4.54.  The Ministry of Lands and Natural Resource s formulates policies in the forestry sub-sector, 
while the Forestry Commission of Ghana, establis hed in August 1999 under Act 571, is responsible 
for the regulation of forest and wildlife resources and the coordination of policies related to them.21 
The Forestry Commission has a website that is kept up-to-date, and contains the main regulations surrounding trade in forestry products, includin g under the Timber Resources Management Act, 
(Amendment) Act, 2002 (Act 617), and its Regulation s which constitute the main legal instruments 
in the forestry sub-sector.  
4.55.  Under Act 617, private (including foreign) companies enter into a contract with the 
Government to utilize and manage timber resources. Timber rights are allocated through a 
competitive bidding process organized by the Forestry Commission. Contractors must meet social responsibility requirements, such as support of local communities with schools or clinics, and 
promote the active involvement of local inhabitants in forest management. A provision also 
requires contractors to implement reforestation plans following logging.  
4.56.  Exports of primary products are generally prohibited in order to encourage domestic 
downstream processing. However, certain specie s (e.g. teak) may be exported subject to the 
payment of an export tax of 10-30%. With resp ect to secondary products, export duties of 
                                               
20 National Development Planning Commission (2012). 
21 The Forestry Commission has a website that is ke pt up-to-date, and contains the main regulations 
surrounding trade in forestry products: http://www.fcghana.org/ . WT/TPR/S/298 • Ghana 
 
- 78 - 
 
  10-30% are levied on air-dried lumber. The exportation of timber, wood products, and sawn 
lumber requires a permit issued by the Forestry Commission.22 In 2013, taxes collected amounted 
to US$1.4 million out of an export value of US$159 million. 
4.57.  Restoration of degraded forest, and improved land management are now declared priorities 
of the Government. The Government has begun to encourage local industries to use Reducing 
Emissions from Deforestation and Forest Degr adation (REDD) concepts. Since 2009, Ghana is 
implementing the EU's Forest Law Enforcement,  Governance and Trade (FLEGT) licensing scheme 
to ensure that only timber from legal sources is exported to the EU; according to the authorities, 
FLEGT licences should start to be issued in the la st quarter of 2014. The authorities have indicated 
that existing national laws, policies and programmes that are complementary to the National REDD+ Strategy include the Natural Resources and Environmental Governance Programme 
(NREG), the goal of which is to reduce illegal logging and integrate environmental considerations 
into policy formulation and implementation across sectors; the National Forest Plantation Development Programme which aims to arrest and reverse deforestation rates in the country, as 
well as taking steps to increase the national forest cover; and the Voluntary Partnership 
Agreement (VPA) with the EU’s FLEGT initiative to enhance forest governance and reduce illegal logging. 
4.58.  Ghana disposes of a large idle sawmills capacity, due to depletion of its traditional timber 
resources. The Government therefore encourages imports of timber as well as exploitation of non-traditional species; for example, instead of the applied MFN tariff on imports of wood and wood products, which is on average high in region al comparison at 16.8% (Table 3.4), the import 
duty on import of lumber for domestic processing is 0%. In addition, imports of all wood products, 
which currently include mainly secondary products (plywood and lumber), from ECOWAS countries are in principle exempt of MFN tariffs. 
4.4  Energy Products and Services  
4.59.  Ghana has been producing and exporting crude oil since December 2010, thus considerably 
boosting the country's economic growth. It has also increased its electricity exports. Domestic 
power shortages are common, even in the capita l city. Private and foreign operators and their 
investments are generally welcome in the sector, although Ghana has started to implement a local content policy to increase the share of local companies in the oil and gas business. Pursuant to Article 257(6) of the Constitution, all minerals in their natural state are the property of Ghana; and 
the Government has the right of pre-emption over all minerals raised. However this right has not 
been used in practice. 
4.4.1  Regulation 
4.60.  Several public institutions are responsible for regulating the energy sector in Ghana, and 
there would appear to be room for rationalisation and savings. The Ministry of Energy and Petroleum is responsible for formulating and implementing government policy.
23 It supervises the 
operations of the Ghana National Petroleum Corporation (GNPC), the Tema Oil Refinery, the Bulk 
Oil Storage and Transportation Company, the Ghana Oil Company (GOIL), the Volta River Authority (VRA), the Ghana Grid Company (GRIDCO), the Electricity Company of Ghana, and the National Gas Company. All are fully state-owned, except GOIL which was listed on the Ghana 
Stock Exchange in November 2007, and is therefore no longer fully owned by the Government of 
Ghana. 
4.61.  The Energy Commission (EC) is the regulator for most technical aspects of the energy 
sector; it also grants licences for the transmission, wholesale supply, distribution and sale of 
electricity and natural gas.
24 The EC is an autonomous statutory body established by the Energy 
Commission Act, 1997 (Act 541). The Commission consists of seven Commissioners appointed by 
the President of Ghana, acting in consultation with the Council of State of the Republic.  
                                               
22 The First Schedule of the Trees and Timbers (Amendment) Act, 1994, Act 493 provides for the export 
levies (in % of f.o.b. values). 
23 Ministry of Energy and Petroleu m online information. Viewed at: http://www.energymin.gov.gh/ . 
24 The EC's website is: http://www.energycom.gov.gh . WT/TPR/S/298 • Ghana 
 
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  4.62.  Also since 1997, the Public Utilities Regula tory Commission (PURC), has been the EC's sister 
organization: also an autonomous agency, it sets transmission and consumer prices for electricity, gas and water.
25 Since 2005, the National Petroleum Authority (NPA) is charged with the 
regulation, oversight and monitoring of activities in the petroleum downstream industry, including 
refining, storage, bulk distribution, marketing and sale of petroleum products, and in particular the 
administration of the Uniform Petroleum Price Fund.26 
4.63.  Also, under the Petroleum Commission Act 2011 (Act 821), a new Petroleum Commission 
has charge of the technical and economic regulation of upstream petroleum activities.27  
4.64.  Finally, the EPA (section 3.3.1.6) is re sponsible for the formulation of environmental 
policies, including pollution standards and waste discharge. 
4.65.  Currently, most of the oil is exported unprocessed. The Government seeks further 
integration of the sector into the Ghanaian economy through downstream manufacturing 
processing.28 To achieve this objective, a new "Local Content and Local Participation Policy in 
Petroleum Activities – Policy Framework"29 was published. The policy requires operators, when 
advertising employment, to give preference to  Ghanaian citizens who have the requisite 
qualifications, competence and experience. Priority should also be given to Ghanaians in the granting of licensing and agreements in the petrol eum sector in all operations, including the award 
of oil blocks, oil field licences, drilling, oil li fting licences, aviation, transportation, catering, 
amongst others. Where foreigners want to be involved they must partner with Ghanaians; the latter should carry at least a 5% equity interest, reviewable at the discretion of the Minister, but that cannot be transferred to non-Ghanaians. The Government also announced in January 2014 
that this local participation policy would be extended to the power sub-sector.  
4.66.  An Enterprise Development Centre was esta blished in Takoradi, jointly by the Ministry of 
Energy and Petroleum, Tullow Ghana Limited (the main new foreign oil company operating in 
Ghana) and the Ministry of Trade and Industry. Its purpose is to train SMEs in the oil and gas 
industry to position themselves take advantage of opportunities in the oil and gas sector.
30  
4.67.  Reflecting the fact that oil and natural gas extraction is new to Ghana, policies and 
regulations applied to these sectors were under review in 2014. For example, the ongoing review 
of the Constitution includes a recommendation for a review of taxation of mineral resource extraction to achieve better financial returns to the State.
31  
4.4.2  Upstream petroleum and gas activities 
4.4.2.1  Crude petroleum  
4.68.  Until 2010, there was no significant oil and natural gas production. In Ghana, most 
petroleum products were imported, mainly from Ni geria. Various deep-water discoveries of oil and 
natural gas have been made in the Gulf of Guinea in recent years, and oil production at Ghana's 
offshore Jubilee Field began in December 2010; in 2014, production stood at about 115,000 barrels per day. Ghana is an EITI compliant country.
32  
4.69.  The commercial partners in the Jubilee Field in January 2014 were Tullow Oil (36.5%), 
Anadarko Petroleum, Kosmos Energy, the Ghana National Petroleum Corporation (GNPC, 13.75%), and Sabre Oil and Gas. GNPC manages the Government's shares in the petroleum companies. 
                                               
25 The PURC has a website: http://www.purc.com.gh/ . 
26 National Petroleum Authority Act of 2005 (Act 691). Viewed at the NPA's website: http://www.npa. 
gov.gh/npa_new/about_Objectives.php . 
27 Act 821 was viewed at the following address: http://www.ghanatrade.gov.gh/file/petroleum%20laws/ 
petroleum_co mmission.pdf . 
28 IMF (2012). 
29 The Policy was viewed at the following address: http://ghanaoilwatch.org/images/laws/local_content_ 
policy.pdf . 
30 EDC online information. Viewed at: http://www.edcghana.org/ . 
31 White Paper On The Report Of The Constitution Review Commission Presented To The President. 
Viewed at: http://www.ghana.gov.gh/images/documents/crc_report_white_paper.pdf . 
32 Ghana Extractive Industries Tran sparency Initiative. Viewed at: Welcome to The Ghana Extractive 
Industry Transparency Initiative . WT/TPR/S/298 • Ghana 
 
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  According to the Ministry's website, in addition to  the Jubilee Field's oil exploration agreements are 
in force with a number of companies.33  
4.70.  The main laws governing the sector remain the Petroleum (Exploration and Production) Law, 
1984 (PNDCL 84), which after 30 years still provides for the management of mining rights34; and 
the Petroleum Income Tax Law 1987 (PNDC Law 188). The Petroleum Law allows GNPC to operate 
in all the country on its own or, as is the case in practice, in association with foreign partners. Under the Petroleum Law, the basic and sole contract between the State, the GNPC and the 
private companies are the Production Agreements (P A). The State's main sources of income, all of 
which are negotiated in each PA, are royalties, participations, surface rental payments and corporate taxes.  
4.71.  In the case of the Jubilee Field, royalties are set at 5% of gross production volume at the 
Jubilee Field; the "carried interest (10%) and participating (3.75%) interest" are defined as a 
share of net production (i.e. gross production less the 5% royalty). Corporate taxes are set at the normal standard rate of 35%. However, no such taxes were paid by the companies in 2011, which 
caused a budget revenue shortfall in 2011 of over ₵600 million. There were no tax receipts 
in 2012 either. This non-payment of corporate taxes by oil companies reportedly resulted from carry-forward losses, as no limits are specified in the PA on cost recovery through tax.
35  
4.72.  The Petroleum Revenue Management Act, 2011 (Act 815) establishes two sovereign 
petroleum wealth funds, the Ghana Stabilization Fund (GSF) and the Ghana Heritage Fund (GHF), 
so as to achieve "collection, allocation, and management of petroleum revenue in a responsible, transparent, accountable and sustainable manner for the benefits of the citizens".
36 Under the Act, 
an initial part of annual oil revenues is allocated by the Government to the GNPC  to pay for the 
equity financing of its stake in the oil company,  and for its operational expenses. The remaining 
"benchmark revenue" (Table 4.4) is shared between the government budget and the two new 
funds, with the limit that the allocation to the annual budget funding amount cannot exceed 70% 
of the benchmark revenue (section 18(1) of the Act ); its amount is approved by Parliament as part 
of the budget.  
Table 4.4 Allocation of o il export proceeds, 2011-13 
Year Production 
liftings (million 
barrels) Export value 
(US$ billion) Benchmark 
revenue 
(US$ million) Annual public 
budget 
(US$ million) GSF 
(US$ million) GHF 
(US$ million) 
2011 24.45 2.7 236 167 55 14 
2012 26.35 3.0 311 287 17 7 
2013a 27.06 2.9 521 205 221 95 
a Estimates for the first nine months. 
Note: A Government refere nce exchange rate of ₵1.5 per US$ was used in 2011, ₵1.8 per US$ in 2012, 
and ₵1.9 per US$ in 2013 (first nine months). 
Source: Ghana Petroleum Fund s Secretariat. Viewed at: http://www.bog.gov.gh/privatecontent/Public_ 
Notices/Semi%20Annual%20 ReportFIRST%20HALF%202013.pdf ; and 2013 Annual Report on the 
Petroleum Funds. Viewed at: http://www.mofep.gov.g h/sites/default/file s/reports/2013_ Annual_ 
Petroleum_Report.pdf .  
4.73.  Once the annual budget financing need is determined, the Ministry of Finance allocates 30% 
of the remaining funds to the Ghana Heritage Fund for long-term investments. The Ghana Stabilization Fund is designed to cushion the impact of potential revenue shortfalls, and thus 
maintain public expenditure capacity, in periods of oil price decreases: it receives the remaining 
70%, for short- to medium-term investments. An investment advisory committee provides MOFEP 
                                               
33 The Ministry has a website that is regula rly updated: http://www.energymin.gov.gh/ . 
34 An electronic copy of the law was viewed at: http://www.clientearth.org . 
35 Http://piacghana.org/PIAC%20REPORT_2 011%20annual_final%20for%20website.pdf . 
36 The Act was viewed at the following address: http://www.mofep.gov.gh/sites /default/files/reports/ 
Petroleum_Revenue_Management_Act_%202011.PDF . WT/TPR/S/298 • Ghana 
 
- 81 - 
 
  with investment advice and recommendations which are published. A Public Interest and 
Accountability Committee provides an audit of activities annually.37  
4.4.2.2  Natural gas 4.74.  While discoveries of natural gas have been  made locally, exploitation had not begun in 
early 2014 for want of processing capacity; according to the authorities, gas was being re-injected 
into the wells for further use when processing plants and pipelines will be available. The new Ghana National Gas Company, a state-owned limited liability company, was established 
in July 2011 to own, manage and develop a national network of upstream and midstream gas 
pipeline, treatment and storage facilities. GNGC will also acquire, own, process, market and sell natural gas and related gas products. The natu ral gas sector is regulated by the Energy 
Commission, which delivers operating licences, and by the PURC which sets consumer prices. 
4.75.  Currently, natural gas is being imported from Nigeria through the West African Gas pipeline 
(see below) for use exclusively in the power processing plants. Imports have varied strongly because of technical problems, increasing from zero until 2008 to 769 thousand tonnes of oil 
equivalent (KTOE) in 2011 (17% of all imported energy), before declining to 390 KTOE in 2012 
(9%). The increase followed the beginning of operations of the West African Gas Pipeline Company (WAPCo) in December 2008, which started to supply natural gas from fields in the Western Delta 
of Nigeria to Ghana, Benin, and Togo.
38 Ghana's Volta River Authority (VRA), which held a 16.3% 
share in the project, generates electricity with natural gas from WAGP since April 2009. Other public and private equity owners include Chevro n WAGP; Nigerian National Petroleum Corporation 
(24.9%); Shell Overseas Holdings; Takoradi Power Company; Société togolaise de Gaz and 
Société BenGaz. WAPCo has its headquarters in Accra.  
4.4.3  Refining and other down stream petroleum activities 
4.76.  The state-owned Tema Oil Refinery continued to use imported crude petroleum from Nigeria 
to manufacture finished petroleum products (Chart 4.4), until production came to a halt in 2013, 
for want of investment. Imports of petroleum pr oducts have soared, although there were press 
reports of fuel shortages in early 2014.  
Chart 4.4 Production and trade in petroleum products, 2000-12 
05001000150020002500
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Imports Exports Production(kilotonnes) 
a
 
a Provisional. 
Source: National energy statistics (2000-2012) , Energy Commission, Ghana, July 2013. 
                                               
37 Report of the Public Interest and Acco untability Committee for 2011. Viewed at: http://piacghana. 
org/PIAC%20REPORT_2011%20annual_ final%20for%20website.pdf . 
38 West African Gas Pipeline Compan y online information. Viewed at: http://www.wagpco.com . WT/TPR/S/298 • Ghana 
 
- 82 - 
 
  4.77.  The Tema Refinery theoretical operating capacity is 45,000 barrels per day. Investment in 
private refineries is not restricted, but has probably been affected in the past by low petroleum product prices, until the pricing structure was adjusted to reflect world market prices (Chart 4.5). The National Petroleum Authority manages the Uniform Petroleum Price Fund so as to ensure the 
uniform pricing of petrol, diesel, LPG, kerosene, marine diesel and residual fuel throughout the 
country. 
Chart 4.5 Retail prices of major petroleum products, 2007-13 
0.00.20.40.60.81.01.21.41.61.82.02.22.42.62.801-Aug-0701-Oct-0701-Dec-0701-Feb-0801-Apr-0801-Jun-0801-Aug-0801-Oct-0801-Dec-0801-Feb-0901-Apr-0901-Jun-0901-Aug-0901-Oct-0901-Dec-0901-Feb-1001-Apr-1001-Jun-1001-Aug-1001-Oct-1001-Dec-1001-Feb-1101-Apr-1101-Jun-1101-Aug-1101-Oct-1101-Dec-1101-Feb-1201-Apr-1201-Jun-1201-Aug-1201-Oct-1201-Dec-1201-Feb-1301-Apr-1301-Jun-1301-Aug-1301-Oct-1301-Dec-13Premium gasoline ( ₵/Lt) 
Gas oil ( ₵/Lt) 
Kerosene ( ₵/Lt) 
LPG (₵/kg) 
RFO (₵/Lt)(₵)
 
Note: LPG: Liquefied petroleum gas. 
 RFO: Residual fuel oil. 
Source: WTO Secretariat estimates based on info rmation from the National Petroleum Authority. 
4.78.  Indeed, the Government in the past subsidized consumption of fuel products with a view to 
redistributing income and smoothing-out price fluctuations. In recent years, the Government has 
been increasing ex-refinery prices of petroleum products so as to align them with import costs, 
thus reducing the extent of the subsidy considerably. Total petroleum subsidies amounted to less than 0.4% of GDP in 2013. Cross-subsidies are maintained, whereby higher prices of gasoline are 
charged to finance larger subsidies for kerosene (lighting for rural areas), and for premix (for 
fishing boats). Hydrocarbons, when sold to foreign airlines or ships, are subject to export taxes of US$0.02 per litre on aviation turbine kerosene, and US$0.02 per litre on marine gas oil, 
respectively.  
4.79.  Since Ghana's last TPR, the downstream petroleum sector has been further deregulated. 
GNPC is no longer solely responsible for procurem ent, storage and bulk distribution of petroleum 
products to the oil marketing companies. A dozen bulk distribution companies (BDCs) import 
petroleum products. Some of the BDCs have their own storage facilities. Those without storage 
facilities either use the facilities of other BDCs, or use those of the state-owned Bulk Oil Storage and Transportation Company (BOST). The Government holds strategic fuel reserves at the BOST, 
consisting of a three-week supply of gas oil and ga soline, which are to be used in the event of an 
interruption in the normal supply of these prod ucts. There were 432 private petroleum products 
transporters in January 2014. 
4.4.4  Electricity 
4.80.  Since 2008, Ghana has become a net and growing electricity exporter (Chart 4.6). The 
generation of electricity is an important source of foreign exchange earnings through exports of power to the neighbouring countries. Capacity is affe cted by such factors as low water levels at the 
Volta Dam, which leads to supply shortages and electricity cuts. In addition, 4.3% of power 
transmitted is lost (2012), up from 3.5% in 2008. WT/TPR/S/298 • Ghana 
 
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  Chart 4.6 Electricity production and trade, 2000-12 
02,0004,0006,0008,00010,00012,00014,000
-600-400-20002004006008001,0001,200
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Electricity export
Electricity import
Net exports
Electricity generation by plant (right-hand scale)(GWh) 
 
Source: National energy statistics (2000-2012) , Energy Commission, Ghana, July 2013. 
4.81.  Per capita consumption of electrical energy increased from 315 kWh in 2008 to 358 kWh 
in 2012. About half of electricity production is consumed by households; commercial and industrial 
consumers account for the rest. According to the au thorities, the share of the population that has 
access to electricity has increased sizeably, from 45% to 72%, but is still only 20% to 25% for the 
rural population.  
4.82.  Ghana's total installed generation capacity is about 2,828 MW (2013), up from 1,800 MW 
in 2004. Hydro generation represents 52% of tota l capacity. The state-owned Volta River Authority 
(VRA), which owns the Akosombo and Kpong Dams (160 MW), is the main producer of electrical 
energy in Ghana. The state-owned Ghana Grid  Company (GRIDCO) has been in charge of 
electricity transmission since 2008, taking over from the VRA.  
4.4.4.1  Generation 
4.83.  Ghana initiated a Power Sector Reform Programme as early as 1995 to ensure adequate 
electricity supplies and improve management of th e sector. Implementation of the reforms has led 
to dividing the industry into distinct operational segments. A key feature of the reforms is the 
encouragement of private sector investment and ownership of power generating plants. 
Generation is thus open to competition, including foreign, and licensed and regulated by the Energy Commission (EC); procedures for licensing are available on the EC's website.
39  
4.84.  In addition to the wholesale suppliers (e.g. VRA), since 2008, Independent Power Producers 
(IPPs) are allowed to build, own and operate power plants in Ghana. IPPs therefore also can supply 
power to meet the needs of distribution companie s, bulk customers, or as part of standing 
reserves to meet the requirements of the Electric ity Transmission Utility (ETU). Under the current 
law, only one entity can hold the transmission licence at any one time and GRIDCo is the current 
holder. The other electricity market participants are the distribution companies, bulk customers; and other customers. 
4.4.4.2  Transmission and distribution  
4.85.  Transmission and distribution activities are still under monopoly. Wholesale suppliers are 
obliged to sell to bilateral contract holders over the grid operated by the grid company. IPPs can produce for their own consumption, or sell, or both. However, they can sell directly to "bulk 
customers" (currently defined as those purchasing above 3 MW), at negotiated prices without any 
                                               
39 The Wholesale Electricity Market is regulated by the Energy Commission Act, 1997 (Act 541), as well 
as the Electricity Supply and Distribution (Technical and Operational) Rules, 2005, L.I. 1816; the Electricity 
Transmission (Technical, Operationa l and Standards of Performance) Rules, 2008, L.I. 1934; the Electricity 
Regulations, 2008, L.I. 1937; the Grid Code; and the Electricity Market Rules. WT/TPR/S/298 • Ghana 
 
- 84 - 
 
  pricing control. Alternatively, they can sell to th e grid via one of the two state-owned distribution 
companies: Electricity Company of Ghana (ECG), and Northern Electricity Distribution Company (NEDCo). In addition, one purely private dist ribution company operates in the Free Zones. 
Approximately 75% of the market is currently regulated; and another 25% is sold to bulk 
consumers at negotiated prices.  
4.4.4.3  Trade 4.86.  Ghana's electricity grid is connected to Côte-d'Ivoire, Togo, and Benin through high voltage 
transmission lines and to Burkina Faso through a low voltage distribution network. A high voltage 
transmission connection to Burkina Faso is under development. The West African Power Pool (WAPP), an electricity pool, comprising electricity generators in the West African sub-region is being established to enable cross-border exchanges an d trade in electricity. It is supervised by the 
ECOWAS Regional Electricity Regulatory Authority (ERERA).
40  
4.4.4.4  Pricing and taxation 4.87.  The PURC is mandated to approve rates ch arged by distribution companies to consumers for 
their services (Chart 4.7), and rates charged by the transmission utility for its services. In 
addition, the PURC has the mandate to investigate the reasonableness of the rate for the electricity produced by wholesale suppliers for supply to distribution utilities. 
Chart 4.7 Average electricity end user tariff, 2000-13 
0.000.050.100.150.200.250.300.350.400.45
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(₵/kWh)
 
Source: National energy statistics (2000-2012), Energy  Commission, Ghana, July 2013; Public Utilities 
Regulatory Commission online information. Viewed at: http://www.energycom.gov.gh/files/ 
approved_electricity_and_water_tariffs_2013.pdf . 
4.88.  Consumption of electricity by private consumers is exempt from VAT/NHIL, up to a certain 
level which is prescribed in regulations. Sales of compact fluorescent lamps are also exempt from VAT/NHIL and subject to reduced import duties, so as to meet the Government's objective of 
increasing electrification, particularly in rural areas; it plans to extend electrification to all 
communities by 2020. Given the high costs of long-distance transmission lines to serve remote rural communities, achieving this objective will require substantial investment in renewable and off-grid electricity.  
4.5  Gold and Other Mining Activities 
4.5.1  Overview 4.89.  A total area of some 30,000 km
2, equivalent to about 13% of Ghana's land area, is covered 
by mineral licences. In particular, Ghana is the world's eighth largest gold producer estimated at 
                                               
40 ERERA online information. Viewed at: http://www.erera.arrec.org/ . WT/TPR/S/298 • Ghana 
 
- 85 - 
 
  97 tonnes in 2012. Ghana reportedly has the eleventh  largest gold reserves worldwide. Silver is 
also produced as a by-product of gold. Ghana also has large potential for solar salt production, for exports to the West Africa sub-region, for transformation into caustic soda for the planned bauxite/alumina industry, and for the petrochemicals  industry. The non-oil mining sector attracted 
strongly rising foreign direct investments in 2012, from producing, exploration and support 
services companies. At least two new companies started operations in 2011-12, and there were about ten  licensed gold producers at end-2013, plus a large number of small-scale miners.  
4.90.  In 2013, about 20,000 Ghanaian nationals were directly employed in large-scale mining, 
and 6,000 others were employed in providing services to the mineral sector. Moreover, it is estimated that some 500,000 people are engaged in small-scale mining. Non-Ghanaians are not allowed to engage in small-scale mining; the minimum investment for foreign companies is 
US$10 million (Article 79 of the Minerals and Mining Act, see below). Since 2008, there has 
nevertheless been a large immigration of over 12,000 foreign (Chinese in particular) miners 
arriving in the Ashanti region to exploit gold mines, without small-scale mining licences (as these 
are granted only to Ghanaians).
41 In May 2013, hundreds of foreign small-scale miners were 
arrested and expelled from Ghana. 
4.91.  As explained in the case of oil and gas above, the Government seeks to transform Ghana's 
natural resources locally. The key indicators used by the Government to monitor progress towards 
the attainment of this objective include the employment generated, foreign direct investments, mineral revenue from exports, repatriation of  mineral revenue, the number of mineral rights 
granted, and the number of Ghanai an-owned businesses operating. 
4.92.  Ghana's production of diamonds by small-scale miners has declined to 215,118 carats 
in 2012, mainly on account of the high prices of gold that diverted miners away from diamonds 
towards gold. About 85% of its production is indu strial diamonds. The bulk of diamond production 
is by small- and medium-scale mines. The only large-scale producer, Ghana Consolidated 
Diamonds, stopped operations in mid-2007. The decline in production of bauxite has been 
attributed in part, to the collapse of the Western Railway Line, leading to companies resorting to 
road haulage (Table 4.5). 
Table 4.5 Exports of major minerals, 2000, 2005, 2010-12 
(US$ million) 
 2000  2005 2010 2011 2012  
Aluminium ore (SITC 285) 9  15 13 10 34  
Diamonds (SITC 2771 and 6672) 11 34 0 16 3 
Gold, non-monetary, excluding ores (SITC 9710) 613  864 3,368 4,837 7,107  
Manganese ores and concentrates (SITC 2877) 21 40 77 107 105 
a Provisional. 
Source: WTO Secretariat estimates, based on  UNSD Comtrade data base, SITC Rev. 3. 
4.5.2  Policy and regulations 
4.93.  The Ministry of Lands and Natural Reso urces (Mines sub-sector) is responsible for 
formulating policies, while the Ghana Minerals Commission (MINCOM) is the regulatory and main promotional institution.
42 As noted above, pursuant to the Constitution, all minerals in their natural 
state are the property of Ghana. The main law governing the sector is the Ghana Minerals and 
Mining Act 2006 (Act 703).43 Under the Act, any transfer of mining rights is subject to the approval 
of the Ministry. The Ghana Chamber of Mines represents the collective interests of some 30 major 
companies involved in mineral exploration, production, and processing. Royalties vary from 3% to 
6% of the total value of minerals produced (Article 25 of the Minerals and Mining Act). Through royalties, corporate taxes, and "pay-as-you-earn payments", the mining sub-sector contributes significantly to government revenue. There is compulsory state participation in the mineral sub-
sector, whereby the Government acquires a 10% equi ty in all companies at no cost (Article 43).  
                                               
41 Le Monde online information [25 June 2013]. 
42 Viewed at: http://www.ghana-mining.org/ghanaims/ . 
43 Viewed at: http://www.sdsg.org/wp-content/uploa ds/2011/06/Ghana-Minerals-Act-2006.pdf . WT/TPR/S/298 • Ghana 
 
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  4.94.  Exports of mineral ores require a permit  issued by the Minerals Commission. The state-
owned Precious Minerals Marketing Corporation ( PPMC) buys gold and diamonds from small-scale 
miners. It also sells jewellery and gold products for export. The Corporation does not enjoy any specific rights, has an annual turnover of about US$30 million.
44 The average applied MFN tariff on 
mining products (major division 2 of ISIC Re v.2) is 11.4%; the tariff on gold and diamonds 
is 20%.  
4.95.  The Mining Development Fund was set-up in 1993 to enable the recycling of mining 
revenues to communities which host mining operations, and to undertake development projects to 
mitigate effects of mining on the environment, and support the operating budget of mining sector institutions as well as some specific mineral-related projects. After 17 years of existence, the Fund held ₵35.3 million, and an audit by the Auditor-General found that the funds had not been 
effectively applied to mitigate the harmful effects of mining.
45  
4.6  Manufactured Products  4.96.  Thanks to its efforts to develop the information and communication technology (ICT) sector, 
to the relatively good access to electrical energy  afforded to industries by regional comparison, 
and to the availability of abundant raw materi als, and notwithstanding the country's good 
governance, Ghana stands out as one of the better locations for manufacturing activities in 
Sub-Saharan Africa. Among the promising areas are agri-food (cocoa, maize, yam) processing, as 
well as down-stream oil and gas and minerals processing. 
4.97.  Ghana has a relatively broad and diverse industrial base, covering aluminium smelting, 
timber and agricultural processing, brewing, cement  manufacture, oil refining, textiles, electronics, 
and pharmaceuticals. Nonetheless, the contributi on of the manufacturing sector to GDP remains 
modest, and is declining. In 2003, the year of the most recent industrial census, there were some 23,800 manufacturing companies in Ghana, with nearly 117,000 employees. 
4.6.1  National industrial policy 
4.98.   Trade policy in the manufacturing sector is under the responsibility of the MOTI.
46 However, 
since June 2011 a new National Industrial Policy has been implemented that also involves other 
government agencies, such as the GIPC (section 2.4), together with the National Board for 
Small-Scale Industries. A detailed Industrial Sector Support Programme (ISSP), also launched in 2011 and running until 2015, aims to create a mode rn productive economy, with high levels of 
value-addition; expand productive employment in the manufacturing sector; expand technological 
capacity in the manufacturing sector; transform agriculture through agri-based industrial 
development; provide consumers with fairly-pri ced, better quality products and services, 
competitive in both the domestic and international markets; and promote spatial distribution of 
industrial development in order to achieve reduction in poverty and income inequalities. 
4.99.  In particular, the Government offers incentives for investment (including by foreigners) in 
manufacturing activities, including a five-year tax holiday and other corporate tax reductions 
depending on the location of the industry. The tax reduction is larger if the company exports 
products that are non-traditional (Table 1.2).  
4.100.  The average applied MFN tariff on manufactured products is 12.7% (Table 3.2).
47 Average 
tariffs are particularly high on footwear (20%), apparel (19.9%), furniture (19.5%), and 
beverages (18.9%); and low on transport equipment (5.9%) and non-electrical machinery (3.2%). 
High tariffs on imports of agricultural commodities do not favour the objective of promoting agro-industries. Moreover, pronounced tariff escalation, and thereby high effective protection in 
industries such as food and beverages, textiles and apparel, chemicals, and non-metallic products, 
negatively affects the international competitiveness of these goods. As a solution to these problems, Ghana allows a large share of imports to enter duty-free under bond, or into export 
processing zones (section 3.2.8). However, this raises the risk of dualism in the Ghanaian 
economy, whereby one part of Ghana's industry has access to cheap inputs (because they are 
                                               
44 Precious Minerals Marketing Corporat ion online information. Viewed at: http://pmmcghana.com . 
45 Report by the Auditor-General (2010). Viewed at: http://www.ghaudit.org . 
46 MOTI online information. Viewed at: http://www.moti.gov.gh . 
47 Manufacturing is defined as Major division 3 of ISIC Rev.2. WT/TPR/S/298 • Ghana 
 
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  duty-free), whilst the other continues to suffer from a high taxation and high bureaucracy 
environment. 
4.101.  The divestiture programme launched in 1988 significantly reduced the number of 
state-owned enterprises (Table 3.12). Fully government-owned manufacturing industries 
include: PSC Tema Shipyard, GIHOC Distilleries, and the aluminium smelter VALCO. In addition, 
the state holds minority shares of between 10% and 40% in Ghana Textile Printing, Bridal Trust International Paints, and GIHOC Pharmaceuticals.  
4.6.2  Pharmaceutical products 
4.102.  Since 1985, the Government of Ghana has be en implementing an industrial policy based 
on import restrictions in support of its local pharmaceutical manufacturers, designed to reduce the reliance on imports (Box 4.1). Under this system, selected drugs are protected from import 
competition by means of an import ban on those products that the companies undertake to 
manufacture locally. The companies are grou ped under the Pharmaceutical Manufacturers' 
Association of Ghana (PMAG).
48 
Box 4.1 Pharmaceutical import bans, 2014 
Ban on production and imports 
 
The under-listed drugs are banned in Ghana and cann ot be produced or imported into the country: 
1. Iodochlorhydroxyquinoline and its derivatives (0.1-0.5%) 
2. Methaqualone and its salts 
3. Phenylbutazone, its salts and derivatives 
4. Secobarbital (quinalbarbitone) 
5. All mercury-based products 
6. Plain ephedrine tablets 
7. Hydroquinones (>2%). 
 
Banned imports 
 
The importation of the finished products of the under-listed items is not permitted. Only raw materials could be 
imported for local manufacture:  
1. Capsules: ampicillin, chloramphenicol, oxytetracycline, chlordiazepoxide, tetracycline and indomethacin 
2. Syrups: chloroquine and paracetamol 
3. Tablets: aspirin,  chloroquine, diazepam, paracetamol, ep hedrine, phenobarbitone, prednisolone 
dexamethasone, folic acid, vitamin B complex, parace tamol/aspirin/caffeine combinations, aspirin/caffeine 
combinations, paracetamol/caffeine combinations, and paracetamol/codeine combination. 
4.103.  The prohibition takes the form of a non- certification by the Food and Drug Authority. 
Pharmaceutical products may be imported only through the Accra Airport and the Tema Port. A 
second group of locally-produced pharmaceutical products are not duty-free, and their importation 
subject to the usual (numerous) MFN duties and charges, including the tariff at the 10% rate, VAT, 
NHIS, etc. Moreover a 20% preference margin for domestically-produced pharmaceutical products and medical devices is provided for in public procurement regulations for national tenders. 
4.104.  In contrast, a third group of "Programme drugs" can be imported without any of the taxes 
listed above. These consist mostly of specialized products that local companies could not produce and have no immediate plans to produce. Accordin g to some observers, the import restrictions 
have allowed the companies to survive and diversify into other products. The Federation of East 
African Pharmaceutical Manufacturers (FEAPM) has developed a position paper in support of the import ban applied in Ghana, noting that the number of manufacturing companies has increased from 9 to 35 in Ghana since 1989.
49 Three companies are listed on the Ghana Stock Exchange. 
Several companies have partnered with multi-nationals; most of them have at least one major 
brand that is on the "banned for imports" list of products, which has served as a main source of income for further development of the industry.  
                                               
48 PMAG online information. Viewed at: http://www.pmaghana.org/ . 
49 FEAPM Position Paper – Support for Local Pharma ceutical Manufacturing, Proposed Model for the 
Growth of the East African Pharmaceutical Manufacturing Sector. WT/TPR/S/298 • Ghana 
 
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  4.105.  Some other observers, however, consider that the policy has not allowed the protected 
companies to achieve export quality requirements , and has not prevented the growth of imports 
(Chart 4.8). It has increased instead the cost of healthcare. 
Chart 4.8 Ghana's trade in pharmaceuticals (HS 30), 1996-2012 
(US$ million) 
02040608010012014016018020022019961997199819992000200120022003200420052006200720082009201020112012Imports Exports
 
Note: Export data are not available in 2002. 
Source: UN Comtrade. 
4.106.  According to the Geneva-based Global Fund, the World Health Organization (WHO) 
pre-qualification scheme could potentially constitute a powerful export support mechanism if it 
could include local manufacturers. Indeed, WHO pre-qualified local drug manufacturers can obtain 
certification and thus supply the Global Fund under its Affordable Medicines Facility for Malaria (AMFm) programme of subsidies.
50 In addition, were Ghanaian manufacturers able to meet 
pre-qualification standards, their products could also be purchased by the Global Fund for other 
countries.  
4.107.  The Global Fund does not directly fund manufacturers. However, depending on price, 
quality etc., it buys their products if they have been pre-qualified by the WHO or if the Ghanaian 
FDA, as a stringent regulatory authority, has been  recognized by the WHO. The Global Fund buys 
through the AMFm mechanism, or through its regular grants (the Global Fund expects to buy approximately 29 million artemisinin-combination therapies (ACTs) for malaria treatment in the 
period June 2013 – February 2015). The AMFm is a public-private partnership and financing 
mechanism, aimed at expanding access to affordable ACTs in eight developing countries, including Ghana. The first co-paid ACTs were delivered to Ghana on 2 August 2010. The WHO is also 
developing an assessment tool to help countries determine whether a local drug-making venture is 
likely to succeed financially. At the moment, no Ghana-based company has been WHO-prequalified to manufacture. Instead, some companies that were producing ACTs have apparently stopped 
because they did not meet these quality standards.
51  
4.108.  From a policy stand point, the Government of Ghana is facing a dilemma. On the one 
hand, it is promoting the development of local pharmaceutical manufacturing capacity, but on the other hand it participates in a laudable initiative that is increasing access to healthcare but clearly 
affecting productive capacity of Ghanaian ACT manufacturers. The Government could consider 
initiating a developmental programme whereby selected local manufacturers would be trained and supported by an already pre-qualified manufacturer, so as to attain the WHO qualification and 
compete in terms of price, delivery time, etc.  
                                               
50 Global Fund (2012). 
51 Global Fund (2012). WT/TPR/S/298 • Ghana 
 
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  4.6.3  Ferrous and non-ferrous metals 
4.109.  The Volta Aluminium Company (VALCO) sm elts alumina to produce aluminium ingots, 
sows, billets and slabs, at its smelter in Tema. The smelter has a capacity of 200,000 metric tonnes per year of ingots but was shut down between 2007 and 2011. In early 2011 it was 
operating at about 20% of its capacity, producing 3,000 tonnes per month, mostly for local 
consumption, with plans to bring monthly production  up to 6,000 tonnes. It is wholly-owned by the 
Government of Ghana, and under the supervisio n of the Ministry of Energy and Petroleum.
52 
VALCO imports its inputs under a number of tax exemptions (see above Table 3.6). Since 2004, 
the duty on imports of ingots has been set at 5% following VALCO's production problems.53 
4.110.  Restrictions (in the form of a permit requirement) (L.I. 1969, 2010) are in place on exports 
of non-ferrous scrap metals so as to ensure sufficient supplies for the five local steel mills and the 
foundries. In addition, since 2013 a ban has been re-introduced on exports of ferrous scrap metals 
as well (L.I. 2201, 2013). The policy had started in 1988/89, when significant investment had been made to process ferrous scrap metals for the production of metal products, especially for the 
construction industry. The MOTI was of the view that ferrous scrap metals constituted a key raw 
material used by the local steel mills and foundries ; therefore, its exportation should be restricted 
by an administrative ban to enhance domestic production of steel billets, which are raw materials 
for the steel mills. 
4.7  Services 4.111.  Services constitute around 50% of Ghana's GDP in real terms, the largest sectors being 
transport and trade services. Their overall contri bution decreased slightly between 2007 and 2012 
at the inception of the growth of the crude oil sector. But certain sub-sectors have nevertheless 
continued to expand their shares of GDP, an illus tration of their relative strength. The two fastest 
growing services sectors over the period were information and communication technology services 
(ICT, +2 percentage points, see below) , followed by trade services (+1%). 
4.112.  Balance-of-payments data indicates that Ghana continues to be a net importer of services, 
and that the trade in services deficit has widened considerably as enterprises imported the 
equipment required for the new mining industries. Exports of services have also increased 
considerably however, from US$1.8 to US$3 billion between 2007 and 2012. In 2011, services export growth was led by the transportation and other business sectors. 
4.113.  Ghana's specific commitments under the GATS cover a large panoply of sectors in 
comparison with other West African countries, including financial services (section 4.7.1), 
communications (section 4.7.2), maritime transport (section 4.7.3.2), construction and related engineering services (section 4.7.5) and secondary and higher education services.
54 Ghana has 
accepted the Fourth and Fifth Protocols to the GATS. Ghana's "horizontal commitments" on 
commercial presence, which describe the limitations that affect foreign investment in all sectors, state that market access for foreign-owned, including joint-ventures, companies must satisfy the 
following minimum capital outlay and foreig n equity requirements: a 100% foreign-owned 
company requires a minimum equity capital outl ay of US$200,000, while for a joint-venture this 
minimum is US$10,000 in cash or kind; however, these minimum capital outlays were increased in 2013 (section 2.4). For presence of natural persons, market access is based on automatic entry 
and work permits for up to four expatriate senior executives and personnel with specialized skills. 
Approval is needed for additional expatriate work ers. Enterprises must also provide training in 
higher skills for Ghanaians.  
4.114.  Under the ECOWAS Treaty (Article 55), Ghana has committed to "the total elimination of 
all obstacles to the free movement of people, goods, capital and services and the right of entry, residence and establishment". With respect to immigration, "Citizens of the Community shall have 
the right of entry, residence and establishment and Member States undertake to recognize these 
                                               
52 Ministry of Energy and Petroleu m online information. Viewed at: http://www.energymin.gov.gh/? 
page id=1154 . 
53 Customs and Excise (Duties and Other Taxes) (Amendment) Act, 2004 (Act 668). 
54 WTO documents GATS/SC/35, 15 April 1994, GATS/SC/35/Suppl.1, 11 April 1997; and 
GATS/SC/35/Suppl.2, 26 February 1998. Viewed at: http://www.wto.org/english/tratop_e/serv_e/ 
serv_commitments_e.htm . WT/TPR/S/298 • Ghana 
 
- 90 - 
 
  rights of Community citizens in their territories in accordance with the provisions of the Protocols 
relating thereto" (Article 59). They have also undertaken "to maintain within their borders, and between one another, freedom of access for profe ssionals of the communication industry and for 
information sources" (Article 66). 
4.7.1  Banking, finance, and insurance 
4.7.1.1  Banking services 4.115.  Ghana's GATS commitments on financial services cover various banking services, including 
acceptance of deposits, credit facilities, and leasing, and do not contain any market-access or 
national-treatment limitations on cross-border trade and consumption abroad. The only limitation on commercial presence relates to prudential licens ing. National treatment is assured, except that 
the Government may support local financial institutions in rural areas and apply a higher paid-up 
capital requirement to foreign suppliers. 
4.116.  The Banking Supervision Department of the BoG regulates and supervises the 
sub-sector.
55 Rules on the establishment of a bank are laid down in the 2004 Banking Act 
(Act 673)56, as amended by the Banking (Amendment) Act, 2007 (Act 738).57 Two new laws have 
been enacted to facilitate access of small- and medium-size enterprises to private credit, namely the Non-Bank Financial Institutions Act, 2008 (Act 774)
58 and the Borrowers and Lenders Act 
(Act 773). 
4.117.  One of the conditions for the BoG to issue a banking licence is that the applicant must 
have an initial paid-up capital of not less than US$120 million (up from US$60 million prior 
to 2014). In the case of foreign ownership59, at least 60% of the capital must be brought into 
Ghana in convertible currency. Applications are subj ect to analysis, according to the authorities "to 
ensure the feasibility and viability  of the project". Fit and proper tests are also conducted on the 
initial directors and shareholders of the project.  Investors wishing to acquire a share of 10% or 
more in any listed banking stock require prior approval by the BoG.  
4.118.  A number of new foreign banks have joined the Ghanaian banking industry since 2007, 
and assets of the banking sector have strongly increased. Five new banks have been licensed 
since 2008. Of these, three are foreign banks whil st two are domestic banks. During the period 
(2008-13), two acquisitions were made by external investors and two mergers took place, one between two foreign banks, and another between a domestic and a foreign bank.  
4.119.  As at December, 2013, 27 "Class 1" banks were operating in Ghana (Table 4.6).
60 
Fourteen of these banks are foreign-controlled – constituting 58% of total assets – were 
subsidiaries of foreign-controlled banks, whilst thirteen which are domestically-controlled constituted 42%. Two banks, accounting for 7% of total banking system assets, have majority 
state shareholding down from five at the time of  the previous review. Ghana, which had one of the 
world's highest shares of public sector ownership of bank assets (30%), has therefore considerably 
reduced this share.  
                                               
55 Bank of Ghana online information. Viewed at: http://www.bog.gov.gh . 
56 The Banking Act was viewed at the Bank of Ghana's website: http://www.bog.gov.gh/ . 
57 Bank of Ghana (2007),  Banking (Amendment) Act, 2007 (Act 738), viewed at the website of the Bank 
of Ghana: http://www.bog.gov.gh/privatecontent/Bankin g/Banking_Acts/banking%20amendment%20act 
%202007%20act%20738.pdf . 
58 The two Acts were viewed at the following: http://www.bu.edu/bucflp/files/2012/01/Borrowers-and-
Lenders-Act-No.-773.pdf  and http://www.bu.edu/bucflp/files/2012/01/Non-Bank-Financial-Institutions-Act-
No.-774.pdf . 
59 Under the Banking Act, a foreign bank means a ba nk incorporated in Ghana in which not less than 
60% of the equity share capital is held by foreigners. 
60 Class 1 banks are allowed to take deposits from the public, as defined in Amendment 738. WT/TPR/S/298 • Ghana 
 
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  Table 4.6 Class 1 banks as at end December 2013 
(₵ million) 
Bank Total assets  Deposits  Borrowings  Non-performing loans (share 
of total) 
Foreign controlled     
Ecobank   4,668   3,112   328  .. 
Standard Chartered   2,977   1,772   212  .. 
Stanbic Bank   2,931   1,599   857  .. 
Barclays   2,353   1,593   132  38.1% (2009) 
Zenith Bank   1,846   982   537  .. 
United Bank for Africa   1,595   651   712  48.9% (2009) 
SG-SSB   1,218   926   35  .. 
Access Bank   990   711   30  .. 
GT Bank   942   688   25  .. 
Bank of Africa   633   396   109  .. 
International Commercial Bank   305   165   47  35.2% (2009) 
Energy Bank   247   94   70  .. 
BSIC   209   124   12  .. 
Bank of Baroda   148   61  .. .. 
Local controlled    .. 
Ghana Commercial Bank   3,349   2,629   108  .. 
Fidelity Bank Limited   1,696   1,290   192  .. 
Agricultural Development Bank   1,616   1,065   225  .. 
Cal Bank   1,558   837   382  .. 
UT Bank   1,343   889   240  .. 
UNIBANK   1,296   918   216  .. 
HFC Bank   977   495   84  .. 
National Investment Bank   873   706   52  46.8% (2009) 
Prudential Bank   830   693   20  .. 
Merchant Bank   755   527   55  .. 
First Atlantic Bank   426   201   141  .. 
Royal Bank   277   137   29  .. 
.. Not available. 
Source: Bank of Ghana. 
4.120.  The state-owned banks have had varying de grees of performance problems, including high 
non-performing loans (NPLs), solvency, and liquidity.61 According to the World Development 
Indicators, the ratio of NPLs in the banks' total gross loan portfolio had fallen to a low of 6.4% 
in 2007, and 7.7% in 2008. It increased strongly to 16% in 2010, before declining again to 12% in 2013. The sharp increase in NPLs has resulted from a massive downgrading of assets. Also the 
aftermath of the global financial crisis saw some policy tightening, which led to higher interest 
rates making credit less affordable and thereby precipitating loan default. However the authorities have pointed out that the solvency of the banking industry, as measured by the capital adequacy 
ratio, remained high on average in December 2013 (18.39%, well above the statutory threshold 
of 10.0%). Meanwhile, the spread between deposit and lending bank rates remains considerable; in December 2006, the maximum saving deposit rate was 9%, while lending rates ranged between 15% and 33.5%.  
4.121.  Ghana also counted 139 rural and community banks at end 2013, and 58 non-bank 
financial institutions (NBFIs), of which six are foreign controlled . The Non-Bank Financial 
Institutions Act, 2008 (Act 774) is designed to facilitate the granting of loan, mortgage loan, 
leasing, transfer and other services to the private sector by allowing deposit-taking and credit-
granting by institutions other than banks.
62 Under Act 774, which does not contain any particular 
provision concerning foreigners, NBFIs are also supervised by th e Bank of Ghana. They shall 
maintain a minimum capital of ₵10 million (leasing companies) and ₵10 million for other 
companies; observe a capital adequacy ratio of 8%; their borrowings or liabilities cannot exceed eight times their capital; and the single exposure to one obligor is limited to 10%, if the exposure 
is un-secured, and 25% if it is secured.  
                                               
61 IMF (2011). 
62 The Act was viewed at the following: http://www.bu.edu/bucflp/file s/2012/01/Non-Bank-Financial-
Institutions-Act-No.-774.pdf . WT/TPR/S/298 • Ghana 
 
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  4.122.  The Borrowers and Lenders Act (Act 773) was passed in 2008 to promote transparency 
and a consistent enforcement framework thereb y improving access to credit especially by 
Small-and Medium-Scale Enterprises (SMEs). In fulf ilment of its mandate under the Act, the BoG, 
in February 2010, established the Collateral Registry  to principally register charges and collaterals. 
As at the end of 2013, 63,670 charges (secured loans) valued at US$22.6 billion had been 
registered. Some 135,112 registered collaterals had been used to secure these loans. Out of the 
total volume of secured loans registered, 8,991 loans valued at US$6 billion were accessed by 
SMEs using movable property. The volume of secured loans accessed by individuals using movable 
property totalled 39,627 valued at US$187 million. 
4.123.  There are currently three licensed "Credit Bureaus" in Ghana which provide information on 
firms and individuals, such as pa yment history, default information, property information and loan 
guarantor details. Lenders can access informatio n on firms and individuals, such as payment 
history, default information, property information and loan guarantor details. All financial institutions and insurance companies are required to provide data on loans of all sizes to the credit 
bureaus. As a result, the legal rights of bo th borrowers and lenders have been improved; 
transactions have been made secure; credit information is now shared. Act 773 does not contain any particular provision on foreign presence or trade.  
4.7.1.2  Insurance 
4.124.  Total gross premium income has increased since 2006, particularly in the life insurance 
segment; it reaches ₵285 billion (US$126 billion) for reinsurance. However, the advances are 
much smaller when expressed in US dollars (Chart 4.9). 
Chart 4.9 Life and non-life insurance, 2006-12 
(US$ million) 
 
Source: Information provided by the authorities. 
4.125.  The insurance industry is regulated by the National Insurance Commission (NIC), under 
the Insurance Act, 2006 (Act 724).63 All insurance companies and brokers must be registered with 
the NIC and be incorporated in Ghana. The 2006 Act abolished ownership limitations for foreigners 
in the insurance sub-sector. Nonetheless, foreign participation is still de facto  limited in Ghana's 
insurance sub-sector. Insurance and reinsurance companies are required to exhaust local capacity before having recourse to foreign-based companies. Ghanaians residing in Ghana may buy 
insurance abroad only if that type of insurance is not available in Ghana. Insurance companies are 
not allowed to engage in any other business, in cluding reinsurance. Moreover, the same company 
cannot supply both life and non-life insurance services. Insurance is compulsory for (i) motor vehicles; (ii) commercial buildings under construction; and (iii) commercial buildings against 
                                               
63 The Act was viewed on the National Insurance Commission's website: http://www.nicgh.org/live/en/ 
?pg=146&pp=100 . WT/TPR/S/298 • Ghana 
 
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  collapse and natural disasters. The reinsurance arrangements of all direct insurers must be 
approved by the NIC. Until 2009, all direct insurance companies were obliged to reinsure 20% of their business with the Ghana Reinsurance Company.  
4.126.  The minimum capital requirement has been increased from the equivalent of US$1 million 
to US$5 million, for both life and non-life insurance companies. Premiums on motor vehicles are 
set by the NIC, while all other premiums are market-determined. All insurance products must be approved by the NIC.
64 As at January 2014, there were 26 non-life insurance companies, 19 life 
insurance companies, two reinsurance companies,  60 broking companies, one loss adjuster, one 
reinsurance broker, and 4,537 registered insurance agents. The State Insurance Company (SIC) and the Ghana Reinsurance Company are still partly state-owned. SIC is one of the oldest non-life (general business) insurance companies in Ghana. It was incorporated in February 1962, and 
converted into a Public Limited Liability Company in 1995. In 2007 the State sold 60% of the 
company's shares on the Ghana Stock Exchange (GSE, see below), retaining a 40% equity share.  
4.7.1.3  Other financial services  
4.127.  The Ghana Stock Exchange (GSE) began trading in corporate equities, bonds, and 
government securities in 1990.
65 In January 2014, 35 companies were listed, up from 32 in 2007. 
Market capitalization at mid-2007 was around ₵12,400 million; it increased modestly when 
expressed in dollars (Chart 4.10). Many Ghanaian subsidiaries of multinational companies are 
listed on the GSE.  
Chart 4.10 Market capitalization on the Ghana Stock Exchange, 2007-13 
(₵ and US$ million) 
010,00020,00030,00040,00050,00060,00070,000
2007 2008 2009 2010 2011 2012 2013US$₵ 
 
Source: Ghana Stock Exchange. 
4.128.  Under the Securities Industry Law of 1993,  and the Securities and Exchange Regulations 
of 2007 (L.I. 728), the Securities and Exchange Commission oversees the GSE, sets listing 
requirements, and licenses dealers. Its commission ers are appointed by the President of Ghana. 
Since the Foreign Exchange Act was passed in 2006, share trading by non-resident foreigners is permitted without limits or prior approval.  
4.129.  Only Ghanaian nationals may apply for a licence to establish a foreign exchange bureau.
66 
                                               
64 A product list is availa ble on the NIC website: http://www.nicgh.org/live/en/?pg=133&pp=97 . 
65 Ghana Stock Exchange online information. Viewed at: http://www.gse.com.gh/ . 
66 Bank of Ghana, Notice to the Public and Operat ors of Forex Bureau, No. BG/GOV/SEC/2003/2. Viewed 
at: http://www.bog.gov.gh/privatecontent/Bankin g_Supervision/revised%20forex%20bureau%20 
regulations.pdf . WT/TPR/S/298 • Ghana 
 
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  4.7.2  Information and communication services  
4.7.2.1  Overview 4.130.  The information and communication technolo gy (ICT) sector continued to expand with a 
contribution to GDP growing from 3% in 2010 to  10.5% in 2011, and an estimated 12% of GDP 
in 2012. The penetration rate of telephones in creased in 2011, with the main source of the 
increases being mobile telephony. The subscribers of internet service continued to increase also. The number of schools with computers continued to record improvements. The bandwidth price 
which stood at US$4,000 in 2008 declined to US$800 in the second half of 2011. The expansion of 
Ghana's telecommunication sector, in particular, has been impressive, so much so that Ghana was listed as part of the World's ten most dynami c countries in 2011 in terms of ICT development, 
according to the ITU's comparative indicators.
67  
4.131.  The mobile market has continued to expand strongly (Chart 4.11). As a result, tele-density 
has risen from over 27% in 2006 to 50% in 2008, 61% in 2009, 67% in 2010, 79% in 2011. By 2013, there were about 27 million mobile phone lines in Ghana, compared to a population of 
25 million, with many users holding several lines each. 
Chart 4.11 Composition of access lines  – mobile & fixed lines, 2006-13 
(million) 
051015202530
2006 2007 2008 2009 2010 2011 2012 2013Fixed lines
Mobile lines
 
Source: Report to Ministry of Trade and Industry, National Communications Authority, August 2013. 
4.132.  Two operators of landline telephone services, Vodaphone/Ghana Telecom and 
Westel/Airtel, deploy respectively 263,310 and 9,826 lines. Ghana Telecom was fully state-owned 
until 2008, when Vodafone bought a 50% stake, and 20% were sold on the stock exchange, the Government retaining the remaining 30% of the company's share. Westel was fully state-owned until October 2007, when 75% of its shares were sold to a Kuwaiti investor, 25% of the share 
remaining in public hands via the Ghana National Petroleum Corporation.  
4.133.  All the six operating mobile telephone networks in Ghana are now owned by foreign 
multinationals. MTN has a leading market share (nearly 50%), followed by Tigo (21%), Vodafone 
(18%), Airtel (10%) and Expresso (1%). Telecommunication tariffs have dropped consistently 
under the effect of competition. According to the ITU, the cost of mobile communications in Ghana 
is among the lowest in Africa. In particular, Ghana has made large investments across the country 
in optic fibre broadband infrastructure, in order to improve its still low connectivity rates 
(Chart 4.12). Total inland fibre capacity is about 8,300 km nationwide, composed of five sub-marine cable systems with a total capacity of over 13 Tera (thousand billion) bits per second  
(Tbps). The International Connectivity Fibre projects  plan to link Ghana's backbone network with 
that of Burkina Faso and Togo.  
                                               
67 International Telecommunication Union (2012). WT/TPR/S/298 • Ghana 
 
- 95 - 
 
  Chart 4.12 Percentage of individuals using the internet, 2002, 2007, and 2012 
0.05.010.015.020.025.030.035.0
Benin Cameroon Côte d'Ivoire Ghana Nigeria Togo2002 2007 2012
 
Source: International Telecommunication Union. 
4.7.2.2  Developments in regulation 
4.134.  The Ministry of Communications is responsible for formulating telecom policies; it 
maintains an up-to-date website where laws can be consulted.68 The National Communication 
Authority (NCA), established in 1996, is in charge of regulating and monitoring the telecom market and issuing licences to operators.
69 The National Communications Regulations of 2003 constitute 
the regulatory framework for the telecom sub-sector. The main objectives of the National 
Telecommunications Policy, published in 2004, were to promote universal access to telephone, 
internet, and multimedia services by 2010, and to  achieve fully open, private, and competitive 
markets for all telecom services.  
4.135.  In 2008, a number of laws were passed to modernize the ICT environment:  
 The National Communications Authority Act (Act 769); 
 The Electronic Communications Act (Act 775), which contains provisions on licensing, 
interconnection, and universal services; 
 The Electronic Transactions Act (Act 772); 
 The National Information Technology Act (Act 771). 
4.136.  In addition, in 2008, the Government passed an Electronic Communications Amendment 
Act, ACT 786, to establish a minimum rate for international incoming electronic communication 
traffic together with a tax of 32% of that revenue. This tax generated a revenue of ₵137 million 
(US$61 million) in 2012. 
4.137.  All operators in the telecommunication market require a licence issued by the NCA. 
Imports of communication equipment require a permit , also issued by the NCA. Individual tariffs 
are set by operators and subject to approval by the NCA; interconnection charges are negotiated 
between operators and are also subject to appr oval by the NCA. In case of disagreement, 
interconnection charges are set by the NCA. In early 2012, the NCA applied a fine totaling ₵1.2 million on five operating telecommunication companies in the country for providing poor 
quality services during the third quarter of 2011. The key performance indicators that were not 
met were call setup time; call congestion rate and call drop rate.  
                                               
68 MOC online information. Viewed at: http://www.moc.gov.gh . 
69 NCA online information. Viewed at: http://www.nca.org.gh . WT/TPR/S/298 • Ghana 
 
- 96 - 
 
  4.138.  Ghana had taken commitments regarding the telecommunications sector under the GATS, 
and in addition accepted the Fourth Protocol to the GATS. However, these commitments were 
limited by the duopoly arrangements that prevaile d at the time. In fact, Ghana's current market 
access and national treatment conditions are very favorable to foreigners, and most of the 
companies operating are foreign-owned. Specifically, most of the limitations in its Schedule are no 
longer in force. In 1997, Ghana endorsed the WTO Reference Paper on Regulatory Principles. 
4.139.  In order to promote universal access to telecommunication services, the Government 
instituted the Ghana Investment Fund for Tele communications in 2004, which became the Ghana 
Investment Fund for Electronic Communications (GIFEC) in 2008.70 GIFEC's primary responsibility 
is to facilitate investment in information and communication technology in under-served areas; priority is given to projects that seek to increase basic rural connectivity and access to broadband 
services. By early 2014, GIFEC has supported the establishment of 114 community information 
centres and 38 common telecommunication facilities in under-served areas. GIFEC's operations are financed by contributions from operators who must pay 1% of their net profit; additional resources 
may be allocated by Parliament. Projects identified by GIFEC are announced publicly and allocated 
by open tender.  
4.140.  The Ghana Chamber of Telecommunicati ons seeks to advise and influence policy 
formulation in the telecom industry so as to promote and protect the common interests of 
operators, and support research and development. According to the Chamber, external factors that 
impeded the industry's development include electric  power outages, theft of diesel from back-up 
generators, and cable cuts. These are of major concern, and the Chamber is currently working 
with the Ghana Highways Authority, Department of Urban Roads and road contractors to minimize 
the occurrence. 
4.141.  According to the Chamber, the cash flows of mobile telephone companies have encouraged 
the public sector to see them as a major source of revenue. Mobile phone companies pay the 
following taxes, totaling about 40% of their revenues: corporate income tax  at 30%; withholding 
taxes on dividends (8%); VAT (15%); NHIL (2.5%) ; and a 6% Communication Services Tax (CST) 
on both customer charges and interconnectivity. Operators have complained of double taxation in 
the interconnectivity charge .  
4.7.2.3  Internet access 4.142.  Although the number of internet users has increased sizeably, the number of internet 
services providers decreased from 35 to 20 betw een 2011 and 2012 as a result of developing and 
converging technologies. Mobile-broadband penetrat ion is expected to continue growing at double-
digit rates over the next few years, reflecting th e spread of mobile internet services. Recognising 
that access to information and to the internet plays a key role in development, as it enhances 
education, commerce and research, in the second quarter of 2013 the NCA delivered three licences for Broadband Wireless Access. The objective of this measure was to provide internet access 
without the need for cabling connections and investments to a greater target group at affordable 
costs. Licensees shall be authorized to develop and operate broadband networks to provide nationwide BWA services, employing any suitable technology of their choice to provide fixed, nomadic or mobile broadband services throughout the country. The duration of the BWA licences 
shall be for a period of ten years.  
4.7.2.4  Postal services 4.143.  The state-owned Ghana Post Company (GPC) continues to provide ordinary postal services 
throughout the country, as per the Postal and Courier Services Regulatory Commission Act 
of 2003. It has exclusive rights to convey letters , postcards, printed matters, and small packets up 
to 100 g all other postal services are open to competition. The GPC has the obligation to deliver 
parcels and letters to any postal address in Ghan a within a maximum of three working days (two 
working days within major urban centres). Its tari ffs must be approved by the Postal and Courier 
Services Regulatory Commission. The GPC compet es with private companies for express courier 
services. There are 62 licensed private courier service providers in Ghana, at least 30 of which are 
licensed for international business by the Postal  and Courier Services Regulatory Commission.  
                                               
70 MOC online information. Viewed at: http://www.moc.gov.gh/ . WT/TPR/S/298 • Ghana 
 
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  4.7.3  Transport services 
4.7.3.1  Land transport services 4.7.3.1.1  Road transport services 4.144.  Ghana disposes of some 32,300 kilometres of roads, of which about 6,100 kilometres are 
paved. The Ghana Highway Authority
71 is responsible for the administration, development and 
maintenance of trunk roads and related facilities.72 According to the authorities, Ghana does not 
maintain restrictions on access to road transport services, including cabotage, and in particular 
does not maintain bilateral agreements with neighbouring countries that attempt to restrict traffic 
rights; foreign transport companies that establish themselves as legal entities in Ghana are subject to the same regulations as domestic companies. This more liberal environment in regional comparison, together with political instability in alternative transit corridors, partly explains the 
strong increase in transit traffic to neighbouring countries, particularly Burkina Faso and 
Côte d'Ivoire (Chart 3.1). This relatively libe ral environment, together with improvements in 
Ghana's port operations and hinterland connections, as well as faster clearance procedures for 
goods in transit (section 3.1.3), has boosted transit traffic. 
4.7.3.1.2  Rail transport services 4.145.  According to its official website, the state-owned Ghana Railway Company Ltd. was 
established in 2001 under the Companies Code 1963 (Act 179) to provide freight, parcel and 
passenger services "using available resources".
73 However, according to available information 
Ghana's rail network, which comprises mainly a triangular 947 km narrow-gauge system linking 
Kumasi, Takoradi, and Accra Tema is not currently operational. The main cargoes were bauxite 
and manganese and are now apparently transported by truck. Ghana Railways Corporation is fully 
state-owned.  
4.146.  In late 2008, the Railways Act 2008 (Act 779) established the Ghana Railway Development 
Authority to separate regulation from operations, and meet the following objectives: (1) promote 
the development of railways and railway services ; (2) hold, administer and improve the railway 
assets and (3) promote the development and management of sub-urban railway. The 
Government's current strategy is to (re)build, the railways using modern standard gauge, but it is 
being hampered by the lack of finance to carry out investments.   
4.7.3.2  Maritime transport services 4.147.  Ghana does not have a significant international cargo fleet, and the foreign-flag share of 
tonnage transported internationally to and from Ghana's ports is high. Under the GATS, Ghana 
made market access commitments for maritime freight, for up to 20% of bulk and liner cargo, and with restrictions regarding the establishment of registered fleet operating under Ghanaian flag.  
4.148.  Since 1981, the Ghana Shippers Authority (renamed in 2010 from Ghana Shippers Council) 
is an autonomous public-sector body that was es tablished by the Ghana's Shippers Authority Act, 
1974 (NRCD
74 254), with the mandate to promote and protect the interest of importers and 
exporters (shippers), while "promoting the provis ion of relevant logistics for the growth and 
development of shipping in Ghana".75 Its Chief Executive is named by the Minister of Transport. It 
has not been possible to obtain the regulations specifying the charges levied on trade by the Authority, the value of its revenues, or the projects and research financed with these revenues. 
The Authority levies a 2% shipping lines charge on the f.o.b. gross value of all freight entering or 
leaving Ghana by any means of maritime transpor t; however, this charge reaches 0.83% of the 
c.i.f. value of merchandise imports. In turn, it is likely, given the relative lack of competition in this 
market, that shipping lines pass on most of the extra cost to importers or exporters via the 
shipping charges. The Authority is part of the GCNet platform.  
                                               
71 The Ghana Highways Authority maintains an up-to-date website: http://www.highways.gov.gh/ . 
72 Cabotage by road is the carriage of goods within a country by hauliers whose vehicles are registered 
in another country. 
73 Ministry of transport online information. Viewed at: http://www.mot.gov.gh . 
74 NRCD: National Redemption Council Decree. 
75 GSA online information. Viewed at: http://shippers.org.gh/ . WT/TPR/S/298 • Ghana 
 
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  4.149.  Since April 1993, the Shipowner and Agents Association of Ghana (SOAAG) has the aim of 
providing a conducive business climate for ship-owners and shipping agents.76 I t  r e g r o u p s  t h e  
largest shipping companies operating in Ghana, led by Mearsk Ghana, Mediterranean Shipping 
Company (MSC), Hull Blyth Ghana, and Delmas Shipping Ghana. 
4.150.  The Ghana Maritime Authority (GMA), established in 2004, is responsible for monitoring 
and regulating activities in the maritime industry , in conformity with the Ghana Shipping Act, 2003 
(GSA Act 645).77 It maintains a shipping register, which contains 298 fishing vessels, 23 cargo 
vessels, and 43 small craft. Foreigners must form joint-ventures with Ghanaians in order to 
register under the Ghanaian flag; this registration  is compulsory in order to carry-out cabotage 
and fishing activities (i.e. in Ghanaian waters, both inland and maritime). 
4.151.  Among recent policy developments, a 2011 amendment to the Ghana Shipping Act, 2003 
(GSA Act 645) introduces local participation requirements into the oil and gas development 
sectors, so as to help Ghanaians to participate in the ship supply services activities relating to the new offshore oil and gas business.
78 The GSA's definition of Ghanaian waters, which was limited to 
the 12 nautical mile territorial sea, has been extended to include the waters within the 500 metre 
safety zone around installations in the exclusive economic zone beyond the territorial sea. This amendment would in effect extend the scope of lo cal trade to include the trade from shore to any 
oil and gas installations that will be established beyond the 12 nautical miles territorial sea such as 
the Jubilee Field (section 4.4.2), which is approximately 63 nautical miles offshore. However, foreign vessels will be permitted to offer their services in Ghanaian waters in instances where there are no Ghanaian vessels available or  capable of providing those services.  
4.7.3.3  Port services 
4.152.  Ghana has two commercial seaports, at Tema and Takoradi. The Port of Tema handles 
80% of the nation's import and export cargo. The port has 12 berths besides two others, one 
dedicated oil berth and the other operated by the Volta Aluminium Company (VALCO). The depths 
range from 8.0 to 11.5 metres. There are currently six storage sheds within the port, which also includes a 100,000 deadweight tonnes (dwt) dry dock, and slipway facility which is operated by 
the PSC Tema Shipyard.
79 There is also a dedicated container terminal as well as various off-dock 
container terminals and car parks run by private op erators. According to the authorities, the Tema 
seaport is ISPS code compliant.  
4.153.   In June 2012, the Government of Ghana bought back the 60% of Tema Shipyard from its 
Malaysian partners for US$6.4 million, thus becoming once again its sole owner. This joint-venture 
had lasted since 1996, but had not met its objective of transforming the shipyard into a modern and well-equipped facility.  
4.154.  The Port of Takoradi is well connected to its hinterland which makes it the preferred and 
ideal gateway to the middle and northern parts of Ghana and the Sahelian landlocked countries of Burkina Faso, Niger, and Mali. Leading exports in clude manganese, bauxite, forest products, and 
bulk and bagged cocoa beans, and mining equipment; while leading imports include clinker, 
wheat, petroleum products and containerized cargo. Takoradi is better located to support exploration and production activities at the oil and gas fields. Takoradi is also fully state-owned.  
4.155.  Since 2007, Ghana's maritime cargo traffic (excluding exports of newly-found crude oil) 
has not expanded dynamically (Chart 4.13) Total traffic stagnated or even declined from 2007 
to 2009 at both commercial seaports of Tema and Takoradi. 
                                               
76 SOAAG online information. Viewed at: http://soaag.org/ . 
77 GMA online information. Viewed at: http://www.ghan amaritime.org/  . Act 645 was viewed at the 
following address: http://faolex.fao.org/docs/pdf/gha93388.pdf . 
78 Ghana Shipping (Amendment) Act, 2011, (Act 826). Viewed at: 
http://www.ghanamaritime.org/en/ab out-us/programmes/ legislation.php  . 
79 PSC Tema Shipyard online information. Viewed at: http://psctemashipyard.com/ . WT/TPR/S/298 • Ghana 
 
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  Chart 4.13 Cargo traffic, 2006-12 
02,0004,0006,0008,00010,00012,00014,000
2006 2007 2008 2009 2010 2011 2012Exports via Port of Tema
Imports via Port of Tema
Exports via Port of Takoradi
Imports via Port of Takoradi
2006 2011 2010 2009 2008 2007 2012('000 metric tonnes)
 
Source: Ghana Ports and Harbours Authority. 
4.156.  As noted by numerous observers of African trade, the efficiency and cost of port operations 
are a central factor of a company's competitiveness on globalized markets. The Ghana Ports and 
Harbours Authority (GPHA) has been part of the GCNet system since 2001, along with Ghana 
Customs, and the MOTI (section 3.1). Nevertheless, in the case of Tema and Takoradi, a number 
of issues have been identified: 
 congestion; 
 complex and slow clearance procedures; in particular, delays observed in processing and 
releasing of cargo documents are caused by th e multiplicity of agencies intervening in 
the ports; 
 excessive charges; and 
 demurrage charges applied to traders because of insufficient clearance period allowance 
given the long cargo dwell.  
4.157.  The authorities wish to address these issues, because development of Ghana into a 
maritime hub and shipping gateway to West Africa remains a major policy objective. Thus, the 
Government has initiated various projects to enhance the capacity and efficient operation of 
Ghana's ports. Planned or ongoing activities incl ude: dredging the Port at Tema to 11.5 metres 
everywhere; upgrading the 80 km route betw een the Tema Port and Akosombo; and the 
construction of new bulk, container and multi-purpose berths at the harbour of Takoradi. According 
to observations, recent upgrades to Ghana's two primary ports at Tema and Takoradi have already 
facilitated their access.80  
4.158.  The GPHA, a semi-autonomous agency under  the Ministry of Transport, owns Tema and 
Takoradi, as well as various fishing harbours. Port services prices are based on the GPHA's tariff, 
which must be approved by the Government. Tariffs for port services at Ghana's ports have been increased substantially in recent years
81; the GPHA's role has shifted from a port operator to a 
regulator, while the operation of port facilities has increasingly been taken over by private 
companies licensed by the GPHA; activities such  as stevedoring, freight forwarding or cargo 
clearance are regulated but delivered by the private sector. 
4.159.  Under the GATS, commitments were made  by Ghana for auxiliary services (cargo-
handling, storage and warehousing and container station and depots). Ghana made a commitment to make available on reasonable and non-discriminatory conditions: pilotage, towing and tug 
                                               
80 World Bank (undated). 
81 Port tariffs, Seaports of Ghana, July 2013. Viewed at: http://shippers.org.gh/wp-content/uploads/ 
2013/10/GPHA-Tariffs-June-1-2013.pdf . WT/TPR/S/298 • Ghana 
 
- 100 - 
 
  assistance, provisioning, fuelling and watering, garbage collection and ballast waste disposal; port 
captain's services, navigation aids, and fire-fighting and ambulance services. Dredging is carried out exclusively by the GPHA. 
4.7.3.4  Air transport 
4.160.  All international flights to and from Ghana are handled by Accra's Kotoka Airport, which is 
served by over 30 passenger and five cargo ai rlines, including international airlines. New 
international routes have opened, with Iberia Airlines from Spain and the Gambia Bird flying to 
Ghana as of 2012. A number of other airlines increased their frequencies. 
4.161.  According to available information, in 2012 the airport registered 2.3 million passengers, 
up from 900,000 in 2006. The Government has as a stated objective to improve facilities at the Kotoka International Airport so as to create a We st African hub and gateway, with spill-over effects 
on exports and tourism.
82  
4.162.  There are also domestic airports in Ku masi, Tamale, and Sunyani, and various unpaved 
airstrips. Although domestic air transport carries a small share of total passengers, this share has 
reportedly advanced sizeably since 2007. A new domestic airline, Africa World Airline, began 
domestic operations in September 2012, bringing to five the number of domestic airlines operating both domestic and regional routes, resulting in very competitive domestic air fares according to 
the authorities.  
4.163.  The state-owned company Ghana Airways was liquidated in 2004. Some of its assets were 
transferred to Ghana International Airlines (GIA ), a joint-venture between the Government, which 
holds 70%, and a U.S.-based investor. The GIA was founded in October 2004 and began 
operations in 2005 with two leased aircraft serving London; it went bankrupt in 2010.   
4.164.  Air transport policies in Ghana are under the responsibility of the Ministry of Transport, and 
regulation is carried out by the Ghana Civil Aviation Authority (GCAA), a semi-autonomous 
government agency established in 1986. In a ccordance with the Civil Aviation Act of 2004,  GCAA's 
regulatory and management functions were split in  2007, transmitting all tasks related to airport 
management and development to the newly inst ituted, state-owned, Ghana Airports Company 
Limited. 
4.165.  Ghana is a signatory to the Yamoussoukro Declaration Concerning the Liberalization of 
Access to Air Transport Markets in Africa, which in principle covers the five first freedoms of the air. Ghana is also a party to the Banjul Accord Group Agreement, together with the Gambia, 
Sierra Leone, and Cape Verde. This Agreement does not contain further market access 
commitments relative to the Yamoussoukro Declaration. Ghana has signed bilateral air transport agreements with 47 other countries. These agreements normally cover the first four freedoms of 
the air. In practice, several routes from Ghana to other countries are served by carriers from third 
countries (seventh and eighth freedoms or consecutive cabotage).  
4.166.  The provision of ground handling and cateri ng airport services is carried out by private 
companies. 
4.7.4  Tourism 4.167.  Tourism is probably the fifth-largest foreign-exchange earner in Ghana after gold, 
petroleum, cocoa, and remittances. Employment in tourism-related activities, including direct and 
indirect jobs doubled between 2007 and 2013 (Table  4.7). According to data provided by the 
authorities, receipts in dollars have expanded annually by over 15% over the period. Tourist arrivals have also increased strongly in recent years.  
                                               
82 IMF (2012). WT/TPR/S/298 • Ghana 
 
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  Table 4.7 Tourism basic indicators, 2006-13 
  2006 2007  2008  2009  2010  2011 2012 2013  
Arrivals ('000)  508 581  672 667 746 828 903 994  
Receipts (US$ million) 740 879 1,052  1211 1406 1,634 1,705 1,877  
Number of hotels 1,405 1,432  1,595  1,775  1,797  .. .. ..  
Number of rooms 19,967 20,788  24,410  26,047  28,058  .. .. .. 
Number of beds 28,006 26,057  29,645  31,702  34,288  .. .. ..  
Number of employees ('000) 147 163 186 208 231 259 287 319 
Contribution of tourism to GDP (%) .. 4.0  3.4 3.3 2.2 2.0 .. ..  
.. Not available. 
Source: World Tourism Organization Compendium of Tourism Statistics, Data 2007-2011, 2013 edition; and 
information from the Ghana Tourist Board. 
4.168.  The Ministry of Tourism is in charge of  regulation and policy formulation. Since 1973, the 
Ghana Tourist Board, as implementing agency of the Ministry of Tourism, carries out promotional 
activities. It is also in charge of touristic enterprises' registration and classification, and follows 
guidelines issued by ECOWAS. Ghana has made commitments regarding hotels and restaurants (including catering) and travel agencies and tour operators under the GATS; the authorities have indicated the absence of restrictions to market access in the sector.  
4.169.  Since 1996, the Government's objectives for the tourism sub-sector are spelled out in 
Strategic Tourism Development Plans. The new National Tourism Development Plan is for 2013-27. It still aims to attract one million tourists each year and to develop Ghana into an internationally 
competitive tourist destination. The Plan seeks to improve skills in the hospitality industry and to 
identify opportunities and programme developments necessary for tourism. The Government has divested all of its state-owned hotels; in a few cases, it has kept a minority share. In March 2012, 
Act 839 amending the Internal Revenue Act 2000 (Act 592) reduced the corporate income tax 
applicable to companies principally engaged in the hotel industry, from 22% to 20%.  
4.7.5  Professional and business services 4.170.  Those professions regulated in Ghana are list ed in Table 4.8. As trade in professional and 
business services is largely based on the movement  of natural persons, suppliers of professional 
services are particularly affected by regulations which limit movement in the countries where they 
are seeking to provide their services (mode 4 a ccording to the GATS terminology). Ghana has not 
committed on professional services within the WT O. Professions are generally protected against 
foreign competition; those wishing to engage in a profession must obtain an authorization or accreditation issued by the professional associations. Each professional association has its own 
rules, regulations and standards for exercising the profession. Although it is not always necessary 
to be a Ghanaian national in order to join a professional association, many of the texts include requirements on nationality or contain reciprocity provisions. The Professional Bodies Registration Decree, 1973 (NRCD 143) provides fo r the registration of professional bodies 
established in Ghana and requires that a register of professional bodies be maintained.  
Table 4.8 Information available on select ed regulated professions in Ghana, 2014 
Profession / Law 
(national association) Market access 
Tax adviser .. 
Certified public accountant 
Chartered Institute of Certified Tax Accountants 
- Ghana –, CICTA, http://www.cictagh.com  
Chartered Accountant Act, 1963 (Act 170) To become a member of the Institute, a person must pass the 
qualifying examinations and complete specific practical training. 
A member of a professional accountancy body whose status the 
Council by Regulations recognizes to be equivalent to the 
Institute is eligible to apply to the Institute to be a member of 
the Institute but cannot use the title of Chartered Accountant 
(Ghana) until he or she has passed the qualifying exams of the 
Institute.  
Engineer 
The Engineering Council, http://ghie.org.gh  
Institute of Mechanical Engineers 
Ghana Institute of Chemical Engineers 
The Engineering  Council Act, 2011 (Act 819) A foreign engineer can practice with a foreign degree but is 
encouraged to be certified by the Engineering Council. Certification is required to tender for government contracts.  WT/TPR/S/298 • Ghana 
 
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  Profession / Law 
(national association) Market access 
Notary 
Notaries Public Act 1960 (Act 26)  Be a Ghanaian national. 
Lawyer  
Ghana Bar Association, http://www.ghanabar.org  
Legal Profession Act, 1960 (Act 32) as amended Compulsory Post-Call Law Courses for Foreign Qualified 
Students (Ghanaian and Non-Ghanaian) Constitutional Law and 
Ghana Customary Law. Non-Ghanaian citizens must 
demonstrate seven years legal experience in a country with a 
compatible legal system. Applicants must have been enrolled 
and called to the Bar as a licensed Solicitor or Barrister under a 
Common Law jurisdiction. 
Bailiff Be a Ghanaian national  
Physician and dental surgeon 
Medical and Dental Council, 
http://www.mdcghana.org/ 
Medical and Dental Decree, 1972 (NRCD 91), as 
amended in 1979  Medical and Dental Council registration, examination for 
foreign-trained doctors. Specialists from the West African Sub-region holding West Africa Po stgraduate College certificates 
are exempt from the exam. 
Pharmacist  
The Pharmacy Act, 1994 (Act 489)  Having passed the Ghana Pharmacy Professional Qualifying 
Examination.  
Architects 
Architects Decree, 1969 (N.L.C.D 357) Passage of qualifying examinations; and residence in Ghana.  
Real estate agents The Ghana Institute of Surveyors has initiated the Real Estate 
Agency Bill (at final review stage at the Attorney General's 
Department in early 2014) to establish a board to regulate the 
qualification, activities and discipline of real estate agents, sales 
people and firms conducting business as estate agents as well 
as their training and licensing.  
Town planner  
Ghana Institute of Planners, 
http://www.ghanainstituteofplanners.com/  .. 
.. Not available. 
Source: WTO Secretariat, based on informatio n provided by the Ghanaian authorities. WT/TPR/S/298 • Ghana 
 
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