Ghanaian businesses urged to take advantage of AfCFTA
The Associate Director and Head of Transfer Pricing at LIMA Partners, Ernest Amosah, has outlined some key sectors in Ghana that are ripe for cross-border investment under the African Continental Free Trade Agreement (AfCFTA).
According to him, the AfCFTA has created opportunities for new businesses by reducing tariffs on items imported under the GTI framework of AfCFTA, provided the imported items meet product-specific rules of origin.
He added that the Pan-African Payment and Settlement System (PAPSS), an AU infrastructure developed in collaboration with the African Export-Import Bank (Afreximbank), complements trading under the AfCFTA and has greatly benefited businesses engaged in AfCFTA transactions.
Speaking during a webinar organised by LIMA Partners on the theme “Unlocking Opportunities Across Africa: Harnessing AfCFTA for Business Growth,” held on April 25, 2025, Amosah listed the key sectors as follows:
– Processed Cocoa
– Pharmaceuticals
– Cashew (Processed $ In-shel)
-Aluminium Products
– Horticultural Products
– Iron and Steel Products
– Oil Seeds (Processed)
– Automobiles and Vehicles
– Fish & Fishery Products,
– Garments and Textiles
– Apparel
– Industrial Salt
– Natural Rubber Sheets
– Petro-Chemicals
– Articles of Plastic
– Industrial Starch
– Services
– Oil Palm
As part of his presentation, Amosah noted that Ghana was the first country, together with Kenya, to deposit its instrument of ratification with the AU Commission.
Additionally, Ghana was selected in 2020 to host the permanent Secretariat of the AfCFTA.
Ghana has developed the National AfCFTA Policy, Action Plan, and National Export Development Strategy to operationalise the implementation of AfCFTA protocols.
“Ghana’s implementation of AfCFTA involves key institutions including the Inter- Ministerial Coordination Committee, Ministry of Trade and Industry, and Ghana Investment Promotion Center, all of which play specific roles,” he said.
SSD/MA
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