Author name: Business Outlook Africa

The Chief Executive Officer of the Association of Ghana Industries (AGI), Seth Twum-Akwaboah, has urged potential investors looking to invest in Ghana to not overly rely on their own knowledge but rather seek professional advice before investing. Speaking on the Ghana Investment Promotion Centre’s (GIPC) Invest in Ghana Podcast on some mistakes to avoid when investing in Ghana, Twum-Akwaboah said many investors make the mistake of relying solely on their own knowledge when entering Ghana’s market, overlooking the value of networks and professional counsel already embedded in the business ecosystem. “In business, you are investing resources — we’re investing your time, we’re investing your energy. So don’t make the mistake of ignoring good professional advice. The think they know, the think that I’ve read on the net, I’ve interacted with a few people. But who have you interacted with? Are they the professionals? Do they give you the right information? So you don’t make those assumptions. Talk to the right people, get the right information, and that will direct your investment activities. It is very important,” he stated. Twum-Akwaboah added that he understands that most often than not, people are deterred from utilising professional services because of the perceived high cost involved, but he explained that it is a far better cost to incur than putting entire capital at risk. “Sometimes they think it’s costly. They think it’s expensive to do so. You have to be prepared to pay for these professional services. There’s no doubt about it — it may not be that expensive, but because we make mistakes, it could be more expensive later on,” he added. He also cautioned against entering Ghana’s market on assumptions, stressing that investors must conduct thorough market analysis and due diligence before deploying capital, particularly because Ghana’s market is not uniform across sectors or regions. “Don’t make the assumption that the market is there for you. You have to do thorough market analysis. If you are investing money, you are expecting a return on your investment. Ghana offers one of the best returns on investment, but don’t make assumptions. The market is not homogeneous. You have to do thorough due diligence,” he further stated. Twum-Akwaboah also emphasised the need for investors to seriously align with or join business associations, explaining that they tend to not only draw experience from other local and foreign companies but also get to navigate external challenges which are out of their control and difficult to manage individually. “The other thing that I also add is the fact that, to deal with this, you also talk to business associations because you have people who have experiences. We in AGI, for example, we have local investors, local indigenous businesses — we also have a lot of foreign businesses that are located here and are doing business, and they are all networked within the system. They will share their experiences with you,” he cautioned. “Again, I add that, you know, you have control over a lot of things. You decide how much you have to invest, you decide who to employ, where to get your own materials. A lot of them are within your control — factors within your control. You can manage it, but there are external factors you cannot manage, and you cannot manage alone. That’s where business associations become very important because they deal with the ecosystem. They are influencing policy,” he added. The InvestGhana Podcast, officially launched by the GIPC in May 2026, serves as a strategic digital platform aimed at amplifying Ghana’s commercial opportunities, sharing direct investor experiences, and deepening global investor awareness.