South Africa targets Ghana as its Gateway to West Africa

2005 marks the fifth anniversary of the Millennium Declaration which gave birth to the Millennium Development Goals, a global commitment to a major reduction of poverty by 2015.

Ghana has emerged as the hub for South African companies seeking to do business in West Africa. A recent SA Institute of International Affairs (SAIIA) survey revealed that 40 South African companies, the majority of which are listed on the JSE, are in business in Ghana.

At the top of the list is AngloGold, whose recent US$1.4 billion merger with Ghana′s Ashanti Goldfields corporation created the world′s second-largest gold mining company. Food retailer Shoprite and brewing company SABMiller have also established a significant presence.

Although, with a population of 20 million, Ghana represents a relatively small market; drawn by the country′s stable economy and continuing economic growth, South Africa is challenging the market share of Ghana′s traditional investors from Europe and the USA.

Source: Databank Securities Limited