Economic relations between France and Ghana [fr]
Over the years Ghana has become an important economic partner for France in Africa.
Since the beginning of the mandate of the President of the Republic of Ghana, H.E Nana Akufo-Addo, in 2017, economic issues have occupied a central place in the Franco-Ghanaian bilateral relationship. The visit in November 2017 to Accra by the French President, H.E Emmanuel Macron, to meet the start-ups of one of the city’s main incubators, illustrates the particular interest shown in entrepreneurship and the dynamics of innovation in the country. After 2013 and 2015, a new MEDEF International delegation, composed of some thirty companies, visited Ghana in June 2018 for prospecting missions during which they were received by Vice-President H.E Mahamududu Bawumia and the main government ministers.
There are currently more than 70 French companies established in the country in a large range of sectors, 60 of them being established as subsidiaries, and 15 being established as their own. This includes agriculture, banking, insurance, construction, logistics, oil and gas, hotel and restaurants. The well-known French companies have established subsidiaries in Ghana such as: Société Générale, Total, Technip, Pernod Ricard, Alstom, Bolloré, CMA-CGM, Air Liquide, and L’Oréal. Companies like Golden Exotics (La Compagnie Fruitière) or GREL are large employers in the country. The activity of French companies in Ghana has contributed to the creation of around 20,000 direct and indirect jobs.
The amount of bilateral trade between both countries was more than 500 million € in 2018. Ghana mainly supplies oil to France, and also agricultural products and food. It is now the fifth supplier in sub-Saharan Africa for France. France exports mainly metallurgical products, refined petroleum products, food products and engineering equipment.
The value of French foreign direct investments in Ghana in 2017 was €9 million for a stock amounting to €1.4 billion. This ranks Ghana as 7th destination in sub-Saharan Africa for French investors. The presence of French business in the coming years would be increased with various projects including the extension of Tema harbor, electricity production as well as infrastructures for the exploitation of the oil and gas fields of TEN and Sankofa.
The French Chamber of Commerce and Industry in Ghana was inaugurated in 2014 and brings together 140 French and Ghanaian companies. This association of companies and professionals aims at supporting and enhancing economic and business bilateral relationships. The Chamber is a platform for exchange and business networking at the service of Ghanaian and French companies. The Chamber will be one of the pillars for the fostering of economic exchange between both countries in the coming years.
On the development side, the French Agency for Development (Agence Française de Développement, AFD) present in Ghana since 1985, is involved in projects for the sectors of agriculture, urban development and energy. The agency is part of various projects such as the development of perennial crops (rubber and oil palm), the retrofit of the Kpong Dam and the financing of GRIDCO’s investment plans. Its subsidiary PROPARCO offers loans and private Equities to the private companies.