Ghana Could Attract More Investors Through Residency by Investment- Frank Danyansah

Ghana has the potential to become a leading destination for foreign investors in Africa, but experts say the country needs innovative strategies to attract high-quality investment. Frank Aboagye Danyansah, an experienced real estate developer and multiple award winner, believes residency by investment could be the solution.

Speaking on the opportunities for Ghana, Danyansah noted that while the country boasts abundant resources, a stable economy, and a friendly, hospitable population, it has struggled to bring in the right investors. He cited several challenges, including inadequate business proposals, lack of sustainable business practices, security concerns, and insufficient social networks for investors.

“Many proposals fail to communicate clear value or demonstrate the qualifications of the investor. Sustainability, security, and social ties are also critical factors for investors looking at long-term commitments,” he said.

Danyansah suggested that Ghana adopt a Residency by Investment program, allowing foreigners to obtain residency through real estate purchases or donations to the Ghana Medical Trust Fund (Mahama Cares). He said the program would align with President John Dramani Mahama’s proposed amendments to the Ghana Investment Promotion Centre (GIPC) law, which seeks to remove fixed investment thresholds.

The proposal would allow foreign investors to gain residency for a specified number of renewable years, offering benefits such as personal security, investment protection, family mobility, and better access to the African market. It would also enable the government to monitor foreign investors through a structured database.

“In summary, obtaining residency by investment in Ghana offers multiple benefits, including improved business opportunities, financial protection, political and social stability, tax incentives, and family planning advantages,” Danyansah added.

Danyansah is the CEO of Danywise Estate and Construction (Ghana/Netherlands) and a member of the Ghana Real Estate Developers Association. He has also served on committees for the Ghana National Housing Policy 2015, Land Use and Spatial Planning Act 2016, Ghana Housing Authority Bill 2022, and Ghana Rent Bill 2022.

Source : Joycelyn Marigold - African Property Magazine-Investment