And the Winner is . . . Ghana!

While none of the eight candidates for President of Ghana won a majority of the votes in Sunday's election, the results have already yielded one big winner - Ghana itself.

Unlike other recent elections on the African continent, marred by violence, the Ghanain election has been lauded by international observers as free, fair and transparent.

This is Ghana's fifth election since becoming a multi-party democracy in 1992 and a clear sign to investors and observers that Ghana is indeed positioned to become the economic gateway to West Africa and perhaps the continent as a whole by virtue of its political stability and growing legal and business infrastructure.

A runoff between the top two contenders for the Presidency has been scheduled for December 28. The contenders, Nana Akufo-Addo of the ruling New Patriotic Party (NPP) and John Atta Mills of the opposition National Democratic Congress (NDC), each finished with over 45% of the vote ( Akufo-Addo had 49.13 percent and Mills 47.92) and Ghanain law requires a majority.

American businesses would do well to recognize the necessity to look to Ghana as a base for operations that will provide entree into the largest english speaking market outside of North America.

Ivory Coast to Invest 230 Million into Abidjan Port

The West African nation of Ivory Coast plans to invest more than $230 million into West Africa’s biggest port in an effort to boost capacity and allow docking of bigger ships. The country in undergoing a major economic restructuring as a result of a post-war economic revival. The world’s top cocoa producer plans to service the needs of its landlocked neighbours through its ports in the coming years.

“By 2010, the infrastructure at the port could be inadequate. It’s a question of forward planning,” says Faustin Toha, a port official. “We hope that with the return of peace in Ivory Coast business will return to Abidjan port,” he said.

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US Missing the Economic Boat in West Africa

It goes without saying that no one knows how the international monetary meltdown will ultimately affect Africa - after all we are still in the early stages of assessing the effects in the US and other affected developed nations. Surely there will be severe ripple effects in Africa.

None of this changes the fact that Africa is potentially a huge economic market and as African nations move toward developing more sophisticated economic and legal infrastructures, more and more businesses and nations will turn their attention toward developing markets in Africa. So it should also go without saying that US businesses must be laying the groundwork for a competitive future in Africa, especially in those nations where a common language provides markets that are relatively easy to break into right? 

Wrong.

Take Ghana for example. During the past 6 years, demand for consumer goods in Ghana, the oldest and  most stable democracy in West Africa, has grown by an average of 20% per annum. Yet few American businesses have been willing to put their figurative toe in the water. While businesses from  China and even small nations like Dubai are aggressively developing markets in this country, US businesses and the entities representing them - the Department of Commerce and USAID most notably, have been pulling in their figurative horns. To put it bluntly, other nations are eating our lunch in what should logically be our point of entry into the largest English speaking market outside of the continental US. By the time we start paying attention, it may very well be too late.

In the next few days, we'll begin to explore both the economic and security considerations for playing a much more proactive role in the economic development of West Africa.

Repairing Nets, Cape Coast, Ghana                          Posters, Cards, Fine Art Prints

Three African Trading Blocs Join to Form Free Trade Zone

The BBC is reporting today an important business development. The leaders of three African trading blocs on Wednesday agreed to create a free trade zone of 26 countries with a GDP of an estimated $624bn (£382.9bn). http://news.bbc.co.uk/2/hi/business/7684903.stm

Cape Coast Where History and Possibility Come Together

Cape Coast, Ghana, is among the most historic cities of Africa. The region has been variously known as the Gold Coast and the Slave Coast because it was one of the principle departure points for the "Middle Passage" of the slave trade.

Today it boasts some of the finest secondary schools in Ghana as well as the renowned Cape Coast University. One of Ghana's most distinguished citizens, Kofi Annan, the seventh Secretary General of the United Nations, attended the Mfantsipim school here before receiving Ford Foundation grants allowing him to attend University abroad.

Cape Coast has built a strong "African Roots" tourist trade around the notorious historical sites of the slave trade, most notably Cape Castle (above right). The tenor of the tourism business is a respectful mix of commerce and education and the tours of Cape Castle - especially if you are fortunate enough to get one of the better guides - are an emotional roller coaster that you will never forget.

Another major commercial enterprise of Cape Coast is its fishing fleet, whose colorful boats not only serve to sustain many in Cape Coast but make for some of the most interesting photograpy in all of Ghana. The largest component of Cape Coast's fishing fleet can be found in the area adjacent to the Cape Castle but many smaller enclaves of boats are found scattered along the coast in both directions.

The Cape Coast fishing fleet after returning

to land during a storm that swept the coast

in 2007. Photo by Wayne D. King

See and purchase more images from Cape Coast at African Photo Journey

Welcome

Welcome to Opportunity Africa. This Blog is dedicated to the economic and social promise of Africa - and especially West Africa, the economic gateway to Africa.

This site - its ideas, ideals and sentiments are dedicated to the memory of our dear friend Chidi Nwachukwu who coined the phrase adopted as the title of this blog before his passing in 2004. Had Chidi lived he would have rejoiced today that we stand at a moment in in history when America may be on the verge of electing an extraordinary man - a child of both Africa and America, President of the United States. An act, if our hopes are fulfilled, that will have dramatic implications for Africa and the world as well.

Chidi, your dream lives.

Photographed in Kayar, Senegal.

Photographed in Kayar, Senegal.



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