Chinese investments in Africa
Globally, as of today, there are over 10,000 Chinese owned businesses spread around the globe.
China as a country has always had an undeniable special interest in investing in Africa and in Ghana, specifically. This interest has grown tremendously over the years.
Through the years, China has pumped billions of dollars into the growing African economy. Ghana especially is a beneficiary of these huge investments. The number of Chinese companies registered in Ghana are in hundreds. With the bilateral trades increasing yearly between both countries and expended high costs, over $6.7 billion was raked into the economy of Ghana in 2017 alone, thereby increasing the financial stability of Ghana.
List of Chinese Company in Ghana
Chinese companies top FDI list in Ghana
Mr. George Aboagye (CEO of the Ghana Investment Promotion Center) disclosed that there are a great number of Chinese organizations registered in Ghana as against other foreign companies.
Chinese companies top the list of companies registered in terms of Foreign Direct Investment (FDI) in Accra.
He disclosed that while Chinese companies record the highest number of companies in the country, companies from South Africa also topped the list of nations with great value of investments in Ghana when speaking at a press conference in Accra.
Business deals between China and Ghana
Trade between Ghana and China has grown over the years. The Trade between both countries continues to rake in millions of dollars yearly.
With China benefiting the most, trade transactions between the two countries have bloomed over time.
The import and export rate between China and Ghana has increased significantly since the establishment of Chinese companies in Ghana, thereby pushing Chinese companies to secure the top spots in the Foreign Direct Investment(FDI) in Ghana.
In the year 2017, China was leading in investment terms with over 800 projects. Additionally, trade between both countries totaled 7 billion dollars in the last quarter of 2017.
Number of Established Chinese Companies in Ghana
Ghana experienced the establishment of over 200 Chinese companies between the 1st and 3rd quarter of 2019 alone. The GIPC verified and registered these companies. These companies have a range of services and products that they offer to Ghana. In 2018, the Ghanian government solicited more Chinese investors and entrepreneurs to invest in the country’s economy.
Dr. Ibrahim Mohammed Awwal, who is the minister for business development, reiterated the government’s commitment to making Ghana a manufacturing hub. He said that Chinese enterprises should partner with Ghana to make it a force to reckon with in terms of manufacturing in the whole of West Africa.
Chinese Manufacturing Firms in Ghana.
In the manufacturing sector, Chinese investors have rooted their feet in Ghana. They are transitioning from trading to manufacturing. These are some of the investment patterns that the Chinese investors implored to ensure full establishment in Ghana.
Chinese Investments in Ghana
There are several ranges of Chinese businesses that are thriving in Ghana. Prominent amongst them are construction companies, plastic production/packaging companies, restaurants, fast food businesses, fishing companies, steel production companies, solar power companies, pharmaceutical companies, wig manufacturing companies, IT and railway companies.
Tang Hong, a top reputable Chinese businessman who has invested in Africa for over a decade, told the global times that he had no regrets investing in Ghana. He is the president of the Ghana Chinese Chamber of Commerce(GCCC) presently.
Tang was tasked by his employer to develop clients in Africa in 1995. He later launched his own business after 3yrs in Ghana. The year 2019 makes his 24th year venturing into the Ghanaian economy.
Another Chinese state-owned construction company in ghana (Sinohydro), built a hydroelectric dam for Ghana and handled several development projects. They also increased the amount of power ghana was generating to 22 percent.
Also, the Chinese IT giant and China’s leading cloud computing company, Inspur Group Co.Ltd. made the move to establish a headquarters in ghana in 2018. In terms of technology, official data stated that Ghana received corporate and financial aids from Chinese organizations, thus making them emerge as key players in the infrastructure sector.
Also worthy of mentioning is the China Shandong International Ltd, located in Accra. It is one of the most successful Chinese construction company registered in Ghana. They rank high is delivering impeccable construction services on real estate, highway construction, and maintenance, housing, hotel development, investment, railways and bridge construction amongst others. In the year 2018, CSI had handled several construction and development projects in Ghana and they seek to further execute more development projects in the region.
Notable Chinese companies in Ghana
Below are some of the names of Chinese owned companies and enterprises that can be found in the threshold of Ghana. They have been verified and registered by the GIPC.
- China Shandong lnternational Ghana limited
- China Geo-Engineering Corporation Ghana Ltd
- Inocon Group Limited
- Joshob Construction Ltd
- China Mall Spintex
- Golden Chopsticks Ltd
- Chinese House Fast Food
- Sweet Rose Chinese Restaurant GH
- Sanbao Pharmaceutical GH
- Rider Steel Ltd
- Rebecca Wig Ltd
- F International Ltd
- Cheng Gong Ghana limited
- Cheng Hua Company
- Cheng Sing Company Limited
- China Company limited
- China Harbour Eng.Company
- China Jiangxi Eng.limited
- Chiang Hui GH limited
- China Gold Ghana Resources co. Ltd
- China Trading Ltd
- China Railway Eng.Gh limited
- China Petroleum China Ltd
- China Classification Society Co.Ltd
- Chang Wei.Com Ltd
- CG Minerals GH Ltd
- Charkieh Plastic and Packaging Co.ltd
- Regal Chinese Food ltd
- Tip Top Fast food Chinese Restaurant
- Bambo Chinese Food Fusion ltd
- Barita Chinese and Pizza Food joint
- LMI Holdings
- Asterion Construction
- Noble House Restaurant
- NINGBO MH Industry Co.ltd
- Facol Limited
- China State Construction Eng.Corp
- China Hualong Construction GH
- Imperial Peking Chinese food ltd Mankata Ghana
- Palace Chinese Food Ltd
- Alayi Chinese Restaurant Ghana
- Tianboa (solar viva) limited
- Shandong Tianshang machinery co.ltd-lulu
- Leo+Lee ltd
- Hello Food.Com.GH
- Shiangxi Electric Power Group Ltd
- Sinohydro Group Ltd.
- Ghana Chinese Chamber of Commerce.
- Inspur Group Co.Ltd.
Most of these Chinese companies agree that Ghana is stable in terms of security, politics, and education. Their legal system is also extremely sound which is a point of attraction for these Chinese investors.
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