The Ashanti Region is one of the ten (10) administrative regions in Ghana and has Kumasi as its capital. It shares boundaries with Western, Central, Eastern and Brong Ahafo Regions.
The political administration is vested in the Ashanti regional Co-ordinating council (ARCC) and 43 Districts comprising 1 metropolitan, 18 municipalities and 24 District Assemblies.
The region also has a very strong traditional authority under his majesty Otumfuo Osei Tutu II, the Asantehene.
BRIEF PROFILE OF THE REGION
The region is centrally located within the country and occupies an area of approximately 24, 389sq.km. (10.2% of total land area of Ghana)
Population of the region according to 2018 projection stands at 5,661,728 representing (19.1 percent) of the total population of Ghana using the growth rate of 2.7%
The region is endowed with a spectacular geography that includes lakes, waterfalls, scarps, forest reserves, national parks, birds and wildlife sanctuaries.
ECONOMY OF THE REGION
SECTORS OF THE ECONOMY
Below is the contribution of the various sectors to the regions’s economy
Service and commerce
Agriculture is the dominant economic activity in the region employing about 44.7 of the labour force.
Districts in the region are endowed with about 1,263,340 hectares of arable lands which support cash crops like cocoa, coffee, oil palm, cashew, citrus and food crops like cassava, plantain, soybeans, cowpeas, rice, yam, cocoyam, maize and vegetables. These are potential for value addition in the manufacturing sector.
The region also houses the largest number of poultry industries in the country. e.g. Darko Farms, Mfum Farms, Asamoah Yamoah Farms, Akate Farms, etc.
It is the home of large Poultry feed mills including Agricare Ltd.
Local processors of palm oil such as Ashanti Oil Mills Limited and Juaben Oil Mills Limited exist to increase production to meet supply of local and international demands.
Of the industrial Sector jobs, manufacturing, construction, mining and quarrying sectors remain the driving force of the industrial sector which engage 9.1%, 3.3% and 1.6% respectively of the region’s workforce
There is also high concentration of jobs in Kumasi occurring because of the presence of the Suame Mechanical Chain shops (Suame Magazine) and other industrial enclaves within Ahensan (a suburb of Kumasi).
SERVICE AND COMMERCE
The services sector contributes 40.9% to the region’s economy. This comprises of finance and insurance (0.7%), health and social work (1.0%), education (3.6%), food and accommodation services. (3.9%). Transport and storage (3.8%), communication services (0.4%), public administration and defense (0.8%), real estate (0.1%), professional, scientific and technical services (1.0%), Arts, entertainment and recreation (0.4%), Activities of households as employers (0.9%), administrative and support services (1.0%) and other service activities (3.8%) (Source: GLSS 6 & 7 2018)
This is the sector is also dominated by informal services with very little or no level of value addition. Hawkers, water sellers, wholesalers, repairers of automobiles, hair dressers. Kiosk operators who dominate Ashanti Region’s urban landscape are typical operators in this sub–sector
AGRICULTURAL – CROPS
Non-traditional crops such as yam, plantains, cassava, oil palm, maize and others offer the best potential for value addition activities. (All districts)
Promotion of foreign and domestic direct investment in large scale commercial farming in grains/cereals (Mamprofi, Sekyere central, Kumawu, Sekyere afram plains)
Production, processing and repackaging in oil palm and extraction of oil from soyabean ( Afigya Kwabre District, Adansi South District and Ejisu Juaben Municipal Assembly)
Large scale / commercial production and processing of fruits and vegetables (Cirtus production – Adansi North/Obuasi Carrots production – Mammpong)
Production of exotic vegetables such as tomatoes at Akomadan in Offinso North for export.
AGRICULTURAL – WAREHOUSING
Warehouses are essential component in the food value chain system. Before harvest, warehouses store seed and other produce that would otherwise have at the mercy of the weather. Postharvest losses are considerably reduced if warehouses are available.
Recognizing the relevance of warehousing system; the private sector and several other stakeholders including international donors have began to promote and provide warehouses, particularly in the KMA area and Boankra inland port area in the Ejisu – Juaben Municipality.
AGRICULTURE – POULTRY AND LIVESTOCK PRODUCTION
Poultry remains an important agricultural activity in the region in terms of numbers.
Thus, the establishment of a poultry feed processing plant in the region would boost this industry and offer employment to the youth.
The establishment of a livestock breeding station/plant is also a potential for investment.
Improvement in the processing and packaging of livestock products offers a competitive advantage.
Ashanti region has unexploited mineral resources such as bauxite and gold. Nyinahin in the Atwima Mponua District has a large reserve of bauxite.
The Region is also endowed with mineral resource such as limestone, clay, sand and stone deposits in Districts like Bosome Freho, Juaben, Kwabre East, Adansi Asokwa and others.
Such mineral resource development could boost local, regional and national economy.
The Region’s central location makes it a nerve centre for commerce and business activities.
- Creation of artisana export craft production centre in the Kwabre East District (Ahwiaa, Bonwire, Adanwomase etc. is also an area of tourist attraction.
- Expansion of the Rattray Park at Ridge
- Establishment of IT training centres all over the region is a good investment area for the region.
- A multipurpose car parking facility for the Central Business District in the Kumasi Metropolitan Area and Oforikrom are critical areas for investment in the Region.
- Provision of Affordable Housing Units (Asokore Mampong, Afigya Kwabre, Oforikrom Municipal)
- Manhyia Housing Redevelopment (Kumasi)
- Hotel and Recreational Facility
- Real Estate Development in the peri–urban Districts (Bosomtwe, Ejisu Juaben, Atwima Kwanwoma, Afigya Kwabre, Asokore Mampong.
- On Campus student housing for KNUST.
- A large Capacity Theatre and International standard Conference facility.
SUMMARY OF INVESTMENT POTENTIALS
Production – Large Scale Commercial farming in the following Crops – Cocoa, Cashew, Maize, Oil Palm, Rice, Citrus, Tomatoes, Soybeans, Mango, Pineapple, and Ginger
Processing – Poultry feed plant, livestock breeding plant and oil extraction plant, meat processing
Warehousing – Compliment government one district one warehouse
- Mining – bauxite, gold – refining, limestone, clay, quarry
- Manufacturing – Light Mechanical Industry- Suame Mechanical Chain of shops
- Revival of collapsed industries (Jute and Shoe factory) & raw material production
SERVICE AND COMMERCE
- Shopping Malls and Commercial Industrial Parks
- Tourism – sites and culture (festivals like Akwasidae, craft production, Lake Bosomtwe, Kente weaving, Bobiri butterfly sanctuary, Owabi bird sanctuary, Atwea Rock formation, Mframabuom caves, Yaa Asantewaa museum, Zoological Gardens, Children’s Park, Expansion of Rattary Park
Waste to Energy – Sanitation
Why invest in Ashanti?
Historical and cultural advantage
Centrally located within Ghana
Abundant land resources
Very vibrant Traditional system
Ashanti is a unique region possessing abundant natural and human resources which when wee harnessed will accelerate the socio-economic progress of the region and the country as a whole.
Consequently, you are all invited to take advantage of the distinct and unique investment opportunities which abound in the region.