The Startup Ecosystem of Ghana

Ghana’s startup ecosystem is constantly evolving and receiving foreign direct investment, mentorship, training, and other types of support from various organizations, including the Ghana-India Kofi Annan Centre of Excellence in ICT and 3 Day Startup. Meltwater Entrepreneurial School of Technology (MEST) is active in its support of the local ecosystem, and there are several startup networks, like the Ghana Hubs Network and the Accra Digital Centre, that help prioritize startup oriented public sector policies.
One of the key initiatives in this ecosystem is the development of the Ghana Startup & Innovation Bill which is still in progress. Both private and public sector organizations are involved in developing the bill, which aims to create an enabling environment for entrepreneurs. Another government initiative easing constraints for existing and aspiring young entrepreneurs is YouStart, initiated by the Ghana Enterprise Agency.
The Ghanan startup scene has made strides in mobile finance; the country is well known for its mobile money systems thanks to the initiatives of corporations such as MTN, Vodafone, and Tigo. Another rising trend in this ecosystem is female entrepreneurship. While female entrepreneurs are mostly found at the micro level, there are several female founders in Ghana’s tech scene. This trend could become a growth engine for the startup scene by inspiring more women to build their startups. However, there are some challenges for entrepreneurs in Ghana to note, such as limited resources for capacity building and unfavorable incorporation clauses. Yet, the startup scene in Ghana is still young and has a lot of room to evolve.