Starting a Business in Ghana Challenges and Strategies for Diasporans

Greater Diversity News (GDN) continues its commitment to covering and supporting the
African Diaspora Development Institute (ADDI) through a series of articles and podcasts
highlighting individuals' efforts and experiences related to the Economic Liberation of
Africa (ELA). In a recent interview, GDN hosted a discussion with George Baffoe, a
Ghanaian native, joined by Shay and Gerry, both of whom possess relevant knowledge
and involvement in this subject matter.

The interview aimed to shed light on the limitless opportunities for economic success in
Africa and the sincere invitation from African countries to diasporans to return and
contribute to building the Africa they envision. George Baffoe’s background, including
his education, profession, and work history, was discussed, providing valuable insights
into the economic landscape of Ghana.

Baffoe’s career in the media industry spans nearly two decades, with a notable
achievement being the creation and production of a radio show called “Ghanaian Strong
Men of the Streets.” This program was designed to provide employment opportunities
for strong men in Ghana beyond the limited roles of bouncers. Many of these individuals
found work in Baffoe’s security business, serving as protection for business and
entertainment personalities.

His experience in banking proved instrumental in preparing him for his current role as a
business consultant for diasporans interested in exploring the vast business
opportunities in Ghana. Shay, a diasporan investor, met George in this capacity,
highlighting the importance of such connections.

During the discussion, Shay, Gerry, and George emphasized the critical need for
diasporan investors to establish trusted relationships with local Ghanaians. These
connections are essential for navigating the system and protecting business
investments. While acknowledging that politics play a crucial role in big business in
Ghana, the group stressed the importance of avoiding politically binding ties during
investment due to the inherent instability of such arrangements. They agreed that
personal connections bypassing government entities were more efficient in registering
businesses.

Shay and Gerry delved into the challenges of entering African markets and the necessity
for robust business relationships and frameworks. Gerry, expressing interest in
investing in Ghana, sought a better understanding of the requirements for safe foreign
investments. George, as a business consultant, was well-positioned to provide insights
into the Ghanaian business landscape.

One key takeaway from the discussion was Shay’s recommendation to work with local
citizens when registering a business in Ghana. She noted that it could take a foreigner
up to 1.5 years to complete the process independently, whereas collaborating with
locals can significantly expedite the procedure.

Baffoe expressed admiration for Dr. Arikana and ADDI’s leadership, describing it as
brave, visionary, and brilliant. He was particularly impressed by their success in
integrating diaspora and motherland communities. The interview also included an
appeal to Black students to join the worldwide efforts in bringing about the economic
liberation of Africa and Africans globally.

Shay highlighted the efforts of the “Divine Nine” – the nine historically Black fraternities
and sororities – and Historically Black Colleges and Universities (HBCUs) in embracing
the vast opportunities for growth and development offered by Africa. This collaboration
between educational institutions and African development initiatives underscores the
growing recognition of Africa's potential among diaspora communities.

The African Diaspora Development Institute (ADDI) was founded with the mission to
bridge Africa with the world and vice versa. ADDI aims to become a comprehensive
resource for information about Africa, addressing the current lack of such a centralized
platform. The organization recognizes that the current state of the African economy is
largely due to the mass exodus of the African Diaspora, which began with slavery 400
years ago and continued with recent migrations due to various factors. (see
ouraddi.org)

ADDI’s approach involves healing the wounds caused by slavery and colonization by
reconnecting all people of African descent with their roots in Africa. The organization
plans to establish offices in all African countries to facilitate easy access between
African governments and the African Diaspora. Through an extensive database, ADDI
hopes to enable African governments to offer diaspora businesses, in collaboration with
businesses on the continent, the first right of refusal for developmental contracts and
national and continental projects in Africa. (see ouraddi.org)

The interview with George Baffoe and the discussions with Shay and Gerry exemplify
ADDI’s mission in action. By facilitating connections between diaspora investors and
local experts like Baffoe, ADDI is creating pathways for economic collaboration and
development. These efforts align with the call from African Heads of State for all people
of African descent to return and contribute to building the Africa they envision.

As Greater Diversity News continues to support and cover ADDI’s initiatives, these
interviews and podcasts serve as valuable resources for diasporans interested in
exploring opportunities in Africa. They provide practical insights, highlight potential
challenges, and offer solutions for navigating the business landscape in countries like
Ghana. Through these efforts, GDN and ADDI are playing crucial roles in fostering
economic liberation and development across the African continent and its diaspora
communities worldwide3.

Written by Peter Grear