A pivotal role in the region
Ghana may not be as big economic player bigger on as its neighbour but is, however, successfully punching above its weight in regional fora.
Ghanaian flag from ‘Elmina. Building on the past to create a better future’ by E.van Steekelenburg (ed.).
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There must be something about Ghana that has given the country a leading role in West Africa even though it is not a big economic player. The people pride themselves as very peaceful and this has been reflected in the fact that the country has escaped all the traumas of civil wars suffered by her neighbours.
In April this year, African Business, a pan-African magazine published in London, ranked Nigeria third in a list of African countries with the most ‘top’ companies on the continent. Thirty Nigerian companies featured among Africa’s ‘Top 200.’ And the magazine’s regional statistics for West Africa are even more revealing.In the magazine’s ranking for the ‘Top 50’ companies in West Africa, Nigeria heads the list with 45 companies, whilst just two Ghanaian companies featured. What's more these, Standard Chartered Bank and Ecobank Ghana Limited, are not indigenous Ghanaian-owned companies.
Given this, it would be expected that Nigeria rather than Ghana would play a leading role in the regional scheme of things in West Africa. The opposite seems to be the case. An Accra-based analyst, Jos Anyima-Ackah, says whilst Ghana can boast of economic stability and growth under a sustained democratic system, this cannot be said of Nigeria.
Anyima-Ackah has observed that Ghana has laid claim to the centre stage of business investment in the African continent and sub-region which Nigeria has not been able to match. These facts worry some Nigerians who see their country as a giant with no bite.
Vladimir Antwi-Danso, senior research fellow of the University of Ghana’s Centre for International Affairs says, “the reason why, in spite of the lack of big business players, Ghana still attracts serious business is because of the perception that Nigeria is a corrupt country. It does not mean that there is no corruption in Ghana. It exists but in a subtle form whereas in Nigeria, it is widespread and this has helped Ghana to provide a lead role in the sub-region which it does by example.”
Ghana’s leverage
Throughout the country’s history, it has provided a safe haven for most of its neighbours. During the Nigerian civil wars, it was at Aburi, a small town outside Accra that the warring factions brokered their peace. Ghana has provided refuge for fleeing Togolese, Ivorians, Sierra Leoneans and Liberians during the civil wars in their various countries.This is what has provided Ghana some leverage over the other countries in the affairs of the regional grouping, Economic Community of West African States (ECOWAS).
According to one Nigerian journalist, Laide Thomas, “apart from the peace that Ghanaians take for granted themselves, Ghana is the only country in the region that has the ability to make things move. There is uninterrupted water supply in most towns across Ghana and electricity too, so when Ghanaian leaders talk about what should drive a country, the other leaders listen.”
It is not surprising that Antwi-Danso says, “Ghana has become a destination for the establishment of business.” Already the Economic Community of West African States (ECOWAS) has decided to site the body’s Central Bank in the country. The West Africa Monetary Institute is based in Ghana and all this has come to prove that “Ghana indeed plays a pivotal role in the ECOWAS agenda.”
The role it continues to play has gradually turned the country into a trade centre in West Africa. Tema Port outside Accra has become the transit base for land-locked countries like Burkina Faso, Mali and Niger and this is “because the country has opened its doors to the movement of goods and services.”
