PRESENTATION ON INVESTMENT OPPORTUNITIES IN GHANA

1. PRESENTATION ON INVESTMENT OPPORTUNITIES IN GHANA

2. TABLE OF CONTENTS • Mandate of GIPC • The Ghana Advantage • Ghana’s Economic Outlook • Priority Sectors for Opportunities for Investors • Investment Incentives & Guarantees • Ghana’s Tax Code • Automatic Expatriate Quotas • Think Ghana, Make it Happen • Contact

3. The GIPC Mandate • The Ghana Investment Promotion Centre (GIPC) is a government agency established under Act 865 to promote, coordinate and facilitate investment in the Ghanaian economy. Our functions include: • Investment advisory services • Joint venture search • Identification of specific projects for investment promotion • Grant of investment incentives and provision of investor support services • Registration of technology transfer agreements • Negotiation of Bilateral Investment Treaties

4. THE GHANA ADVANTAGE • A stable democracy • West Africa’s 2nd largest economy and market • Access to 300 million ECOWAS Market • Best destination for ease of doing business in West Africa World Doing Business Report 2014 • Named in the top 5 destinations for doing business in Sub-Saharan Africa • Easy flight connections to Europe, Middle East, The Americas and Asia • Highly skilled and trainable labour

5. GHANA’S ECONOMIC OUTLOOK

6. CHINESE INVESTMENT IN GHANA

7. PRIORITY SECTORS FOR INVESTMENT In line with the country’s current needs priority sectors for investments are • Agriculture and Agro-Processing • Manufacturing • Tourism • Energy • Oil & Gas • Infrastructure & Real Estate • Financial Services • ICT

8. OPPORTUNITIES FOR INVESTORS

9. OPPORTUNITIES FOR INVESTORS OIL AND GAS • Pumping commenced 15 December 2010 • 14 discoveries made since Jubilee discovery • 8 exploration wells drilled during the year 2011 • 6 of these resulted in oil, gas and condensate discoveries • Source: Government of Ghana Budget Statement, 2016

10. OPPORTUNITIES FOR INVESTORS OIL AND GAS • Hydrocarbon Exploration & Development • Ghana’s hydrocarbon Basin has not fully been developed • Transparent process of acquiring exploration block • Voltarian Basin • The Basin represents 40% of Ghana’s land mass. • Exploratory work underway by the GNPC.

11. OPPORTUNITIES FOR INVESTORS OIL AND GAS • Crude Oil Refinery • Expansion of Tema Oil Refinery from 45, 000 Barels per Stream Day (BpSD) to 120,000 BpSD • Bulk Petroleum Products Pipeline & Storage • Bulk Oil Storage & Transportation Company Limited (BOST) requires investments to construct pipelines & strategic storage depots nationwide.

12. OPPORTUNITIES FOR INVESTORS OIL AND GAS • Opportunities for Supplies in Upstream Sector • Sankofa, TEN and Greater Jubilee due to come on stream from mid 2016 to 2018. • Construction of a dedicated pipeline from Takoradi to Tema • A dedicated on shsore pipeline to connect the two port cities of Takoradi and Tema. • LNG Deployment Opportunities • Opportunities exist for the deployment of LNG infrastructure to serve the country & sub-region. • This is to be executed by PPP or IPP • Ancillary Services • Helicopter & Fixed wing aircraft transportation. • On-shore support & logistics • Mini harbours and warehouses. • Anchor handling boats • Diving vessels

13. OPPORTUNITIES FOR INVESTORS ENERGY • Electricity Penetration: From 85% to 100% by 2020 • Filling the gap • Independent Power Producers (IPPs) • Many opportunities for IPPs • Thermal • Hydro • Renewable energy

14. OPPORTUNITIES FOR INVESTORS ROADS Road transport - Currently taking up about 98% of freight and 95% of passenger traffic • The National mass transport facilities • Maintenance and improvements • 54,084km maintenance • 250 km improvements • Developments • Government has introduced new tolling practices which have paved the way for BOT systems and other forms of private sector participation

15. OPPORTUNITIES FOR INVESTORS RAILWAYS • The rail industry in Ghana has a total track length of 1,300km and operates a route length of 940km • Redevelopment, modernisation and expansion of the railway network . • Emphasis on Accra – Temamodernisation and expansion • Linking south to north • PPP Development Project • Western, Eastern and Central lines • US$303 partner’s input

16. OPPORTUNITIES FOR INVESTORS MANUFACTURING • Electronic design & Development • Manufacturing of spare parts for the oil & gas industry. • Food & Cocoa processing establishments

17. OPPORTUNITIES FOR INVESTORS PROPERTY DEVELOPMENT • Deficit of over 1.7m units • Annual Demand is over 200,000 • Annual Production is over 70,000units • Opportunities in residential, industrial and commercial • Many opportunities • Physical infrastructure • Affordable housing • Water treatment plants

18. OPPORTUNITIES FOR INVESTORS AGRICULTURE • Agriculture • Crop Production • Poultry Production • Aqua Culture • Agro –processing • Livestock feeds & fishmeal • Packaging • Cocoa beans and waste processing into liquor, beverages, fertilizer etc. vegetable oil meals plants • Agri-business • Provision of service agricultural estate • Irrigation and storage facilities • Mechanized equipment for leasing • Marketing of agric produce

19. INVESTMENT INCENTIVES & GUARANTEES • Full repatriation of dividends and net profit attributed to investment • Transfer of funds in respect of servicing of foreign loans • Guarantee against expropriation (also enshrined in the Constitution of Ghana) • Remittance of proceeds in the sale or liquidation of investment • Custom duty exemption for plant, machinery, equipments and parts thereof • Other attractive tax concessions such as accelerated depreciation for plants and buildings, five-year loss carry-over and R&D expenditure deductibility • Relief from double taxation for foreign investors and employees where applicable • Locational incentives (tax rebates); manufacturing industries located in regional • capitals other than • Accra and Tema 25% • Elsewhere 50%

20. GHANA’S TAX CODE

21. GHANA’S TAX CODE INVEST IN 3 EASY STEPS Step 1 - Registration with Registrar General's Department   Step 2 - Minimum Equity Contribution Step 3 – Registration with GIPC Joint Venture (JV) with Ghanaian partners are encouraged but 100% foreign participation is permissible. Equity: US$200,000 for JV with Ghanaian partner US$ 500,000 for 100% foreign ownership US$ 1,000,000 for Trading Activity

22. AUTOMATIC EXPATRIATE QUOTAS • Automatic immigrant quotas depending on paid-up capital • US$ 50,000 – US$ 250,000 – 1 quota • US$ 250,000 – US$ 500,000 – 2 quotas • US$ 500,000 – US$ 700,000 – 3 quotas • More than US$ 700,000 – 4 quotas

23. GHANA’S TAX CODE THINK GHANA, MAKE IT HAPPEN • Ghana is open for Business • There is strong Government support for investors • There is transparent and functional legal framework to ensure the success of every investment. • Think Ghana, Think Endless Possibilities • Think Ghana, Make it Happen

24. CONTACT www.gipcghana.com THE CHIEF EXECUTIVE OFFICER Ghana Investment Promotion Centre, Public Services Commission Building - Ministries Accra, Ghana P.O. Box M193 Accra - Ghana T : +233 302 66 5125 – 9 F : +233 302 66 3801 E : info@gipcghana.com