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Online business in Ghana: How to get started (2021)

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Are you a fresh graduate still looking for a job, a student, an employee looking for other streams of income, a civil servant? Then this article is for you.

The business world has changed a lot, with so many opportunities for making money with ease. Online business is one of these opportunities. No one can ignore the fact that online business in Ghana is a promising sector changing people’s stories from zero to hero.

The good thing about online business most times is you don’t need some kind of special qualification to start up. All you need is the right information, which is why you are here. We are glad to provide you with the right information you need to start up an online business in Ghana.

online business in ghana

Types of online businesses you can start in Ghana

YouTube channel

A YouTube channel is one of the biggest ways to make an income in the world. One of the easiest ways of making good money online in Ghana is owning a YouTube channel. All you need is a good camera for your videos and also have good content that can attract viewers.

Here are a few practical steps on how to open a YouTube channel

  • First thing you have to do is to create a YouTube channel with your Google account. Also, ensure your YouTube channel name is related to your niche. E.g. Wafs Fashion.
  • After successfully creating an account, what you should do next is to start posting high-quality videos with good content. Ensure you are able to pass your message in a short period of time, to avoid boring your audience.
  • You have to join Google’s partner program in order to be able to make money from your videos.
  • Connect your YouTube channel to AdSense.
  • Choose the videos you want to monetize, from the series of videos you have uploaded. If you are able to successfully achieve this just wait and watch cash flows into your account.

Freelance Job

Freelancing is gaining more recognition in recent times in Ghana. Freelancing is one of the most convenient and high-paying online jobs in the country. Some of the advantages of being a freelancer include:

  • You get to choose what time you want to work.
  • You get to choose the client or project you want to work with.
  • Freelancing can also be an alternative job.
  • Opportunity to choose a higher pay scale.
  • Require fewer skills

Online Trading

The internet is a universal market. Online trading is the act of buying and selling goods through the internet platform. This is one of the easiest ways of making money online in Ghana. It just resembles trading in real life. The only difference might be not seeing the person you are buying from or selling to physically. Online trading is not as complicated as it sounds. All you need is to know what your customers are in need of, look for a place you can get it cheaper and then sell it with profit.

Social media such as (Instagram, Facebook, Twitter and Snap Chat) are good markets to carry out your online trading business.

Own a Blog

Blogging is one of the most lucrative online businesses right now in Ghana. In the process of still looking for a day-to-day job, I will advise you should start a blog. Blogging is flexible and you can work at your own comfort. What discourages most people about blogging is that it does not generate money as you start, blogging takes time before it starts to yield.

Below is a step-by-step process on how you can make money through online blogging.

  • Start a blog
  • Keyword research
  • Choose the keywords you want for your blog.
  • Create a writing schedule
  • Create a social media account where you can drop your link
  • Share your articles on every platform you can.
  • Join Google AdSense
  • Start getting money.

Business Importation

Now here is another source of making good money online. You don’t have to own millions of Cedis before you can venture into online business importation, you can start little. This business involves the importation of goods mostly from outside the country. You likely buy some goods cheaper from overseas countries than buying from the local market. Your duty as a business person is to carry out a feasibility study in order to know what your clients are in need of the most, then provide solutions to their needs.

Steps on how to buy goods online:

  • To make transactions easy for you when purchasing goods online, make sure you have a bank account that is connected with internet banking.
  • Build a market for your area of interest.
  • Search for the online foreign store where you can buy what interests you at a cheaper rate.
  • Order your goods
  • Delivery of goods

Online survey surfing

With this business, making money is pretty straightforward. The more you work, the more money you make. Online surveys in Ghana are statistical, you get paid based on the surveys you are able to complete. The online survey job has an advantage to people who have time on their side to be able to complete more surveys.

Here is how to look for the best paid survey websites in Ghana.

  • Use your credit card or your PayPal account to sign up for the website.
  • Search the websites carefully to be able to choose the best survey that works for you.
  • It takes a few days, sometimes a week before a company sends a response to your Email.
  • Ensure you are able to complete the survey with a valid opinion.
  • After you have completed the survey, it is essential you find an effective way of redeeming your points.

Online business in Ghana wrap up

The above-stated online businesses are not the only online businesses in Ghana, there are several others. You just need to properly search for the online business in Ghana that suits you perfectly. Once you do, learn all you need to know about it and get straight to work. It will definitely be worth your while.

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How to Start a Radio Station in Ghana (2021)

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Are you looking for a reliable guide on how to start a radio station in Ghana, then you’re on the right page.

Setting up a radio station is relatively easy and the capital requirement is not as intensive as running other mass media businesses. Presently, there are over 30 active radio stations in Ghana, operating in different regions of the country.

If you plan to start up your own radio stations, you’ll have to choose your preferred region and be ready to compete for the attention of listeners in that region.

How to Start a Radio Station in Ghana

radio station in ghana

This guide will inform you of what it takes to start and run a radio station in Ghana

Minimum Standards For Setting Up of FM In Ghana

The National Communications Authority regulates and licenses FM broadcasting stations in the country. Before you can set up your radio station, you must obtain a license that allows you to operate in the country.

Below are the minimum requirements you must meet before you’ll be considered eligible for a license.

  • The owners shall Construct and install facilities for the provision of broadcast services within 2 years after authorization of frequency is granted.
  • The facilities shall be inspected by the authority to ensure it meets the required standards
  • The Authority shall issue a ‘Test Transmission Letter’ after inspection.
  • The radio station must have a means of contact for the public
  • The radio station must have a Security post/desk. And security personnel must be at the post during all the hours of operation.
  • The radio station must install a signboard close to its premises for purposes of identifying the station.
  • The radio station must acquire fire certificate from the Ghana National Fire Service (GNFS) for their premises and shall install fire extinguishers at the premises.
  • The radio station must make provisions for an alternative source of power to ensure the station is always on-air during the hours of operation.
  • The radio station must make known to the Authority regarding any amendment in their equipment installation before it is done.

Processes To Follow

Obtain A License

After going through the minimum standards as required by the National Communications Authority (NAC), you can go ahead to obtain a license from the authority.

Note: if you are not able to meet these standards within 2 years after the approval of your license, the authority will withdraw your license and you will not be allowed to operate the radio station.

Rent Office Space

You’ll either have to rent studio space or buy one for your radio station, You’ll need to get a space for your transmitter and another space for an alternative power supply (generator).

When getting an office space, you’ll need to take the equipment, people power, offices and the number of studios you want in the building into consideration. If you want to do more with your radio station, then you will need more space and definitely you will need to budget more for a larger office space.

Set Up the Radio Station

The license obtained from the NCA will include the grant of frequency authorization. It is through this frequency that you’ll be able to reach your listeners. Once you acquired the grant, you can go ahead to construct and install the necessary facilities. These facilities include antenna, transmitter, and studio equipment.

The studio set up and the equipment you’ll need depends on how you want your studio to look like. Some radio stations set up two studios; the main studio where live broadcasts are done and a production studio which allows someone to pre-record materials.

Production studios allow for smoother operation of the entire radio station and require less equipment to run.

You’ll also have to get the right transmitting equipment for the studio. It is important you get equipment of good quality so as to reach your listeners clearly

You will require a transmitter, antenna, and the structure (scaffold) to support the equipment. Transmission equipment usually costs a lot of purchase and install, so you should do some research before creating your budget.

Note: You have a maximum of 2 years to construct and install all your station equipment or your license will be withdrawn.

Get the Right Labor

The success of a radio station depends on its creativity and the staff. When employing part-time or full-time staff for your radio station, always look for the ones that have successful careers. If you’re tight on your budget, you can hire a few full-time staff and leave your doors open to interns.

Most interns are ready to work for free since what they really need is the experience. Always screen your interns and go for the competent ones.

Content Licensing

This shouldn’t be much of a problem as most of the content in Ghana are available to the public for free. However, if you want to play any content on the air that is licensed, you will be required to pay licensing fees.

It is better to avoid playing licensed content than to do so without paying the required fees.
Some artists and composers could go as far as suing your radio station for copyright infringement and you might have to part away with a huge sum either as settlement or due to frequent visits to the court (you could also incur heavy costs by hiring a lawyer).

Staying On Air

As said earlier, there are lots of radio stations operating in all the regions of Ghana. Some of these radio stations are still active while others have folded up. If you’re planning to open a radio station anytime soon, then you should be ready to face huge competition.

Most listeners will remain loyal to a radio station that is entertaining, educating, and creative. Every now and then you could invite celebrities like musical artists, showbiz individuals, sportspeople, and actors on air to keep your listeners entertained.

You can also run different educative segments and get creative with the kind of music you play. Most of the active and top radio stations in Ghana already have these things covered which is why they have remained at the top since their inception.

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Top 5 Biscuit Companies in Ghana (2021)

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Biscuits are one of the most popular snacks consumed in the streets of Ghana. They are tasty, contain fewer calories and cost way less than other snacks in the same category.

Today, there are many biscuits brands in Ghana including indigenous brands and foreign brands, however, only a few of these brands make some of the best biscuits consumed in the country.

Biscuit Companies in ghana

Here is our selection of the Top 5 biscuit companies in Ghana that you should try out.

  1. Piccadilly Biscuits Limited

Piccadilly Biscuits Limited is one of the leading biscuit companies in Ghana and one of the few biscuit companies indigenous to Ghana. The company was founded over 60 years ago by Dr. Samir Eid, a reputable baker in Ghana. Piccadilly has produced some of the best nutritious biscuits sold in Ghana and other African countries.

Unlike other brands, Piccadilly biscuits have improved in taste and nutrition over the years while their prices still remain affordable. This is due to its team of highly-skilled professionals who ensure that the company maintains its quality, freshness, and tastiness.

One of the popular biscuits brands produced by Piccadilly is the COREEN biscuit or as it is fondly called “HYE ME MA”. This biscuit is extremely popular among students and many other Ghanaians who only settle for quality biscuits.

The company also has other popular biscuit brands like DIGESTIVE, MALT & MILK, and ALL TIME biscuits that are widely accepted all over Ghana.

Another popular brand that makes for one of the most gifted biscuits during the holidays is the Piccadilly GEM biscuits. These biscuits are quite different from the others as they are produced with a unique recipe that is over 150 years old. The recipe first used in Ghana by the company’s founder as early as the 1960s.

  1. McVities

McVities is one of the oldest biscuit brands in the world and also one of the most popular. The company was named after the founder Robert McVities who started off as an apprentice baker and later went on to create one of the best biscuits in history.

Today, McVitie’s is sold in almost all the countries in the world including Ghana where it is widely accepted.

The company boasts of one of the most impressive product lineups with most of its products ranking as some of the best selling biscuits in Ghana and other parts of the world.

Below is a list of all the biscuit and cake brands sold by McVitie’s

  • Jaffa Cakes
  • Chocolate Digestives Nibbles
  • Thins
  • Chocfilled
  • Digestives
  • Rich Tea
  • Hobnobs
  • Club
  • Penguin
  • Gold
  • Ginger Nuts
  • Fruit Shortcake
  • Minis
  • Gems
  • Lights
  • Boasters
  • Cookies
  • Assortments
  • Jamaica Ginger

  1. Parle

Parle is a world-leading biscuit brand in Ghana. This biscuit is so popular that you can find many of their products ranking as the best selling in any market.

The company began in 1929 in India and currently boasts of the world’s largest selling biscuit, Parle-G. They are also India’s leading manufacturer of biscuits and related products.

Unlike other brands, Parle places more emphasis on quality, nutrition, and superior taste which is one of the many reasons why their biscuits not only outsell other foreign brands in Ghana but also many indigenous brands.

Over the years, the company has expanded beyond biscuits to other products like confectionery, rusk, snacks, and pulses. Below are some of their popular products.

Biscuits

  • Parle BakeSmith Arovita
  • Hide & Seek Chocolate Chips
  • Magix Creme Orange Rectangle
  • Monaco Sixer
  • Monaco Pizza

Confectionery

  • Kismi
  • Kismi Rosemilk
  • 2 in 1 Eclairs
  • Orange Bite
  • Londonderry

Rusk

  • Cake Rusk
  • Premium Rusk Real Elaichi
  • Premium Rusk Milk
  • Garlic Beast Toast

Snacks

  • Cheesy Bites
  • Mexitos Nacho Chips Nacho Cheese
  • Mexitos Nacho Chips Nacho Tomatino
  • Massia Crunch
  1. Beloxxi Industries Ltd

Beloxxi Industries Ltd is a leading manufacturer of fast-moving goods, popularly known for their tasty range of Cream Crackers. Initially, the company focused on the importation and distribution of internationally branded biscuits but later moved into local production.

Beloxxi’s Cream Crackers are ranked above many others due to their quality, taste, and nutrition. Over the years, the company has continuously improved its standards to match world-class biscuit manufacturing companies which is why it still remains one of the best biscuit companies in Ghana and other parts of Africa.

  1. Kellogg

Kellogg is a multinational food manufacturing company established in 1906. The company was founded in by Will Keith (W.K.) Kellogg and Dr. John Harvey Kellogg whom both invented the flaked cereal that Kellogg is well known. Over the years, the company expanded and went into the production of other edibles including biscuits. Today, it is one of the largest food manufacturing companies in the world with a presence in almost all the continents of the world.

Kellogg’s product lineup includes the following brands.

  • Kellogg’s Special
  • Cheez It
  • Pringels
  • Austin
  • Morning Start Farms
  • Carrs
  • Garden Burger
  • Frosted Mini Wheats
  • Rice krispies
  • Pop Tarts
  • Eggs
  • All Bran (Original)
  • Nutri Grain
  • Frosted Flakes
  • Crunchy Nut
  • Krave
  • Coco Pops
  • Froots Loops
  • Corn Flakes
  • Corn Pops
  • Fiber Plus

Kellogg brands are very much popular in Ghana as they are in other parts of the world, however, its Coco Pops, Corn Flakes, and Pringles brands could be considered as its best-selling products in the country. Overall, the company still remains one of the best biscuit companies in Ghana due to the outstanding quality and the premium taste of their products.

Wrapping Up

So there you have the top biscuit companies in Ghana. Some of these companies are well-known all over the world and probably, you may have tasted one or two of their biscuits. Overall, Parle, Paccidilly, and McVitie’s remain the market leaders in Ghana as they make some of the most nutritious biscuits you can snack on any day and anytime.

 

Top 10 Oil Companies in Ghana (2021)

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Ghana’s oil and gas industry is still in its developing stage with operations in the downstream sectors, mid-stream as well as upstream.

Immediately after oil and gas were discovered in the country in commercial level in 2007, Ghana made efforts to ensure a successful regime in the oil and gas industry.

Top 10 Oil Companies in Ghana

Top 10 Oil Companies in Ghana

The discovery of oil in the country has led to the establishment of various oil companies, both local and international.

Out article will take an in-depth look in the top 10 oil companies in Ghana.

MENERGY INTERNATIONAL

This company was established in the year 1989 and it is involved in logistics services. They have the vision to become the biggest of its kind in the entire continent and over the past 23 years, the company has strived to work with their mission to provide safe, consistent and convenient solutions to all their stakeholders in the industry.

BAYFIELD OIL SERVICES

The company was incorporated in the year 2011 and it is a fully owned Ghanaian company. It was established immediately after oil was discovered in the country in commercial quantity.

They are involved in the provision of standard and unique services to the stakeholders in the oil and gas sector.

ANGIO COMPANY

Angio is a project management company, which was established in the yeat 2009 and they are involved in the provision of project management service across the entire civil service, trading, and procurement, inclusive the oil and gas sector.

They have worked with so many clients in various fields and they are also involved in the provision of training as well as managing events.

SAVFUEL PETROLEUM

The company is involved in the management and supply of fuel to its clients through the provision of great services delivered at a competitive price.

The company was established in the year 2005 and one of the objectives of the company is to fulfill the need of their clients in the area of door to door delivery of fuel in tangible amounts.

Since establishment of the company, they have taken their place as one of the leaders in the area of supply of fuel for commercial purposes.

EBONY OIL AND GAS

This company is involved in the distribution of oil and gas in bulk and they have a license issued by the National Petroleum Authority, which gives them the permit to export and import petroleum products for commercial use in the country.

They also have the license to export petroleum finished products to other African countries, especially Mali and Burkina Faso.

Ebony also possess a permit to extend their distribution services to the upstream sector.

KOSMOS ENERGY

This is an internal oil and gas firm established in the United States of America, incorporated in Bermuda and they have offices in Ghana, Suriname, Senegal, and Mauritania.

They have the permit to operate at the offshore in Ghana.

Distinguished by an increase in production, balanced exploration portfolio and a network of development opportunities, the company has the drive to produce and the passion to explore.

GHANA OIL COMPANY

The GOIL incorporated initially as a private company in the year 1960 as AGIP Ghana and the company was initiated with the objective to market petroleum products, especially fuels, bitumen, lubricants, fuels as well as other special products in the country.

The main business the company is in the distribution and marketing of petroleum products across the country. And the larger part of its sales is derived from the sale of gasoline and diesel. With the Managing Director as the head of the company, it is managed by a group of the 10-member team.

STAR OIL COMPANY

The company was incorporated in the year 1998 as an oil marketing firm. The company used the opportunity created by the government through the policy of divesting the state-owned ventures and also the deregulation of the oil sector in the ’90s to cater for the larger part of the market that was not served by the OMCs existing at that time.

They have the mission to operate facilities that handle the storage and marketing of oil products across all the districts in Ghana in a way that is considered cost-effective and more efficient.

It is the oldest oil marketing firm in the country that is owned by private investors devoid of any foreign participation.

ANTLIS OIL AND GAS

The company is a limited liability company that has its focus on the midstream and downstream operations across the world.

Antlis was incorporated in 2015, within the scope of the laws of Ghana with the Certificate number of incorporation CS646012015. The company has been operating with the structure geared towards the achievement of status as a bulk oil distribution company.

PLATON GAS

This is the 1st refinery in the country that is privately operated. It was established in Ghana in the year 2014 as borne out of a wide experience in oil explorations in Europe.

They have their refinery in Tema, which is the most industrialized city in the country. Platon Gas was given the license as a private liability company in 2014.

They are involved in the production of  RFO, diesel, naphtha.

The company’s investment in Ghana is about $10million with additional plans to make more investment over time to improve the economy of the country.

TAKORADI GAS

The company is one of the top gas manufacturing firms in the country and it is located in Takoradi, which is a major oil production area in Ghana. The company was established in the year 1992.

Since its establishment, the company has been involved in the production of top quality products for the numerous industries they serve.

With branches in Tema, Kumasi, New Abiremi and Kenyasi, Takoradi gas continues to strive to take their products closer to the clients they serve at different parts of the country.

The company’s truck fleet is one of the most reliable in the country and they have been able to perfect delivery of their products to all their stations across the country.

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List of Banks in Ghana and Their Interest Rates (2021)

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There are several commercial banks in Ghana and it is imperative that every Ghanaian and foreigner resident in the country know them. Asides knowing these banks, you should gain an understanding of how they operate and their respective interest rates.

The banking sector in Ghana went through a series of challenges in the early 1980s and it took a drastic step from the government in 1989 to revamp the sector. Prior to the steps taken by the government, many banks had suffered huge losses. Most had crashed and many others were at the verge of collapse.

banks in ghana and their interest rates

The banking sector began growing again in the 1990s due to more patronage and an increase in deposits. Today, these banks have some of the highest rates on the continent, a major plus for the Ghanaian economy. There are over a hundred banks operating in Ghana on the local front, they are also managed locally.

List of Banks in Ghana and Their Interest Rates

The minimum capital requirement for Ghanaian banks

Part of the reforms to ensure that only credible banks stayed afloat in Ghana was the introduction of a minimum capital requirement. This went a long way to ensuring that the banking sector in Ghana grew to what we see today.

In 2017, the minimum capital requirement bar was raised once more. Previously it was GHS 120 million but it was increased to GHS 400 million. Following this, the banks had until December 2018 to ensure they had complied with the new requirement. By extension, new banks were required to comply before being established.

Functions of Ghanaian commercial banks

In every economy, there are several kinds of banks. The commercial banks are the most common as they provide most of the services required by everyone in society. There so many commercial banks but you will realize that they provide very similar services. Making a choice of what bank mostly depends on preference based on how efficient these services are.

The functions below are the general services provided by the different commercial banks in Ghana.

  1. They provide individuals with the most reliable way of safeguarding their money. This allows customers to deposit money in their care and they can come to withdraw anytime they desire.
  2. Customers enjoy lending services from these banks. The lending services take different forms, either cash or documents such as guarantee papers or letters of credit.
  3. Trading Forex.
  4. Selling and buying of securities.
  5. Clearing of checks on behalf of their customers.
  6. Money transfer and other special services.
  7. Provide assistance to their clients with respect to the payment of bills. These bills include payment for light, water, phone, and cable television.
  8. Standing as trustees for certain customers.

Commercial banks and their branches in Ghana

The commercial banks in Ghana, just like those in many other countries have several branches scattered around the country. These branches were established for several reasons. The most prominent of these reasons include:

  1. The banking sector in Ghana is decentralized.
  2. There is an increase in demand regarding the services provided by these banks. These branches help them cope with this increase in demand.
  3. The branches are a subtle way for the banks to attract more customers in the different localities where they are established. They also help clients in different locations enjoy the different services the banks provide.

The different commercial banks and their respective interest rates

We have already established the fact that the number of banks in Ghana has increased over the last two to three decades. Currently, there are well over twenty commercial banks in the country and we have brought you a list of these banks and their interest rates.

  1. Agricultural Development Bank. The majority of the shares (52%) of this bank are owned by the government. It was established in 1965 and has grown to have 78 branches in Ghana today. The current interest rate is 27.60%.
  2. Barclays Bank of Ghana. This is one of the oldest and largest banks in Ghana. It has several branches in different parts of Ghana and has an interest rate of 21.55%.
  3. CAL Bank. This bank was established in 1990. Though it has been around for a short while, it has grown in leaps and bounds. It has a reputation as the most invitational bank in the country and has an interest rate of 28.50%.
  4. Fidelity Bank. This bank is among the most recently established foreign investors own it. A couple of Ghanaian stakeholders have also invested in the bank including SSNIT. The current interest rate lies at 30.50%.
  5. The Ghana Commercial Bank. This is the biggest indigenous bank in the country as it has the highest number of branches and ATMs scattered around Ghana. The bank’s interest rates sit at 25.05%.
  6. International Commercial Bank of Ghana. This bank is an offshoot of the renowned ICB banking group which has its base in Switzerland. The bank has an interest rate of 22.95%.
  7. National Investment Bank. This bank provides a dual-range of services. Firstly, it is a commercial bank before acting as a development bank. The bank’s interest rate lies at 27.33%.
  8. Prudential Bank. This bank was established in 1993 and has grown very fast to having several branches in different parts of the country. It has a 27.50% interest rate.
  9. Energy Bank Ghana. This is one of the youngest banks in Ghana as it was started in 2011. The bank has a current interest rate of 24.88%.
  10. Standard Chartered Bank Ghana. This bank is a subsidiary of the UK-based Standard Chartered PLC. The bank has been in operation for over a century and it has an interest rate of 23.56%.
  11. Stanbic Bank of Ghana. This bank is highly reputed for its efficient services. The current interest rate is 28.50%.
  12. Bank of Africa. This bank provides a series of services including SME and Corporate Banking. The interest rate stands at 27.15%.
  13. Bank of Baroda Ghana. This bank is an offshoot of an Indian bank which is one of the largest in India. The bank hit the Ghanaian shores in 2008 and has a current interest rate of 15.16%.
  14. SG-SSB Limited. Societe Generale is one of the largest banks in Ghana and the current interest rate stands at 22.45%.
  15. Guaranty Trust Bank. This bank spread to Ghana in 1991 and has grown to be among the few banks to have a triple-A rating in the country. The current interest rate is 26.75%.

There are several other banks in Ghana but our list has brought you the most famous one. We believe this post must have provided you all the information regarding commercial bank interest rates in Ghana.

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