INTRODUCTION

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

 

SECTOR

PERCENTAGE(%)

Agriculture

44.7

Industry

14.4

Service and commerce

40.9

TOTAL

100

 

 AGRICULTURE

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.

 

INDUSTRY

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)

 A detailed analysis of region’s employment structure indicates that the services sector is mainly “low skilled services – led type”. The wholesale and retail sub – sector which is the largest source of employment engages 19.5 percent of all employees in the region

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

 

 INVESTMENT POTENTIALS IN THE REGION

 

AGRICULTURE

 

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.

INDUSTRY

 

MINING

 

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.

 

MANUFACTURING

 Cocoa processing and value addition to the husk into potash for soap production.

  •  Establishment of agro – processing industries using Citrus and ginger for domestic and export market.
  •  Expansion of oil palm production and processing for export and domestic markets.
  •  Revitalization of industries which were lost over the last few decades e.g.  Jute factory, leather and tanning
  •  Production of raw materials for the Kente weaving.
  •  Mechanization of handicrafts such as Kente, Ahenema etc. can also be developed for large local and international markets.

 

 SERVICE AND COMMERCE

 

 SHOPPING MALL

 

The Region’s central location makes it a nerve centre for commerce and business activities.

 Investment in shopping mall has huge market potential thus trade and Commerce in all kinds of goods is important due to the region’s locational advantage.  The only shopping mall in Asokwa is a success story.

 Establishment of commercial industrial parks in the major cities of the region with the required infrastructure

 

TOURISM

 The Ashanti Region is noted for its cultural and traditional values that impact on the regional socio-economic development, including tourism.

 The tourism sector is relatively vibrant and has quite a number of historical, ecological sites and traditional festivities and unique sceneries which are ripe for tourism development.

  •  The popularization of cultural events such as the Akwasidae and various cultural dances can promote tourism.  (All districts can boast of unique festive occasions).
  •  The Lake Bosomtwe Biosphere Reserve which is the only natural lake in Ghana and one of the very few in the West African sub-region is also a tourist site to be invested in.  Development of eco-tourism/resort centres (around the Lake Bosomtwe in the Bosomtwe District) are all ripe to boost investment.
  • Creation of artisana export craft production centre in the Kwabre East District (Ahwiaa, Bonwire, Adanwomase etc. is also an area of tourist attraction.
  •  Other sites are the Bobiri Butterfly Santuary off the main Kumasi – Accra road, Owabi Bird Santuary, Atwea Rock Formation and Mframabuom Caves.
  •  The religious beliefs and cultural places such as Ejisu-Besease and Adarko Jachie Shrines, the Yaa Asantewaa Museum and the Manhyia Palace and its museum are all sites for investment.
  •  Redevelopment of the Kumasi Zoo.
  •  Reconstruction of the Amakom Children’s Park
  •  Upgrading and redevelopment of existing as well as new tourist sites is also to attract more tourists.
  •  Expansion of the Rattray Park at Ridge

 

 INFORMATION COMMUNICATION TECHNOLOGY

  • Establishment of IT training centres all over the region is a good investment area for the region.
  •  Production and assembling of Computers, Laptops and accessories is a good investment area.

 

 TRANSPORTATION DEVELOPMENT AND MANAGEMENT

 

  • 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.
  •  Operaion of a Bus Rapid Transit (BRT) within the Kumasi Metropolitan Area is also a promising investment opportunity.
  •  Development of a ring and outer roads as documented in the greater Kumasi transport plan is to be invested in.
  •  The Ashanti Region has air, road and rail networks to many parts of the country.  All these networks are avenues for investment that will yield profits.

 

 WASTE  TO ENERGY

  •  Waste generation is growing as a result of the growth in population and the increase in urbanization.  About 86.4% of the dwelling units in the region are involved in the disposal of solid waste.  This is becoming increasingly difficult and costly for waste collection in the region.
  •  Waste to energy recovery has been identified as more favourable than disposal to site and for this we strive for investors to help solve the looming crisis.

 

HOUSING DEVELOPMENT

 Ashanti Region has the highest proportion of houses in Ghana, which is 16.9%.  Statistics has shown that there is an improvement in the housing situation with a decrease in the population per house from 11.0 (2010) to 8.3 (2018).  However, there is still pressure on both rural and urban housing. Investment in the housing sector is a key towards the regions development. Areas worth investing in include the following:

 

  • Provision of Affordable Housing Units (Asokore Mampong, Afigya Kwabre, Oforikrom Municipal)
  •  Airport City Housing Development (Kumasi)
  • 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/Off Campus students accommodation for KNUST, and Kumasi Technical University, UCEW-K.
  • On Campus student housing for KNUST.
  • A large Capacity Theatre and International standard Conference facility.

 

SUMMARY OF INVESTMENT POTENTIALS

 

AGRICULTURE

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

  

INDUSTRY

  • 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
  •  Transport Development & Management – (light train/tramps, aircraft maintenance Facility

Waste to Energy – Sanitation

 Housing Development - On/Off Campus accommodation, affordable housing, real estate development, Airport City, Manhyia Housing Redevelopment, hotels & recreational facilities, International Conference Centre/Theater 

 

Why invest in Ashanti?

Historical and cultural advantage

Centrally located within Ghana

Human resources

Abundant land resources

Market

Infrastructural support

Very vibrant Traditional system

 

CONCLUSION

 

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.