Ghana - Joint Ventures/LicensingGhana - Joint Ventures/Licensing
While the Ghanaian Investment Code encourages joint ventures, U.S. companies should take care that any joint venture arrangements clearly delineate the respective areas of responsibility for each party. In particular, financial arrangements should be discussed in detail and in advance. Some local entrepreneurs expect the foreign investor to bear all costs while their contribution is limited to local market expertise. Due diligence on the prospective partner is always advisable, as is retention of a local attorney.
Local content requirements in the petroleum sector have made joint ventures a more attractive approach to market entry. The U.S. Embassy advises all U.S. companies to carefully select a qualified partner and spend resources on conducting extensive due diligence before committing to a joint venture structure.
Ghana Business Management Legislation