Ghana
Accra
“Accra, Ghana’s capital and central hub for innovation, is a critical gateway for entrepreneurship across the nation and the wider region. Local talent benefits from a supportive ecosystem; an engaged government and a shared intention to drive innovation forward.”
Highlights
Accra is one of the fastest-growing tech hubs in West Africa and a hotspot for digital nomads. The Government of Ghana launched its Ghana Digital Acceleration Project in 2023 with support from the World Bank, which approved $200 million to increase access to technology and boost digital innovation.
The first Women Entrepreneurship & Leadership for Africa educational program kicked off in Accra in April 2023. In November 2023, Accra hosted the second Africa Entrepreneurship Accelerator Summit, an event powered by entrepreneurship hub and women-led venture builder WestlionCo. MEST, a well-established ecosystem hub in Accra, has trained over 800 African entrepreneurs and invested in over 80 startups to date.
In 2023, the Ghana Jobs and Skills Project and the Ghana Economic Transformation Project granted $8.3 million to SMEs as part of its Ghana Enterprises Agency’s YouStart program. Innovest Afrika launched in December 2023 to accelerate 5,000 African startups by 2030. In December 2023, EIB Network boss Bola Ray partnered with the European Union in Ghana to launch the Entrepreneurship with Bola Ray program, a startup support program empowering 25 entrepreneurs under 30 by providing funding, training, mentorship, branding and marketing, and bookkeeping help. Accra also hosted Ghana Digital Innovation Week in 2023, a partnership between Ghana, Germany, and Israel to celebrate the accomplishment of Ghana’s digital innovation ecosystem and build momentum for its future development. Ghana Tech Summit 2023 was held in September and Tech in Ghana Conference in March 2024.
Ecosystem by the Numbers
Sub-Sector Strengths
Fintech
The Africa Money and DeFi Summit took place in Accra in October 2023, an event that connects industry leaders from the African Fintech and crypto ecosystems with international players. In August 2023, Mastercard hosted its inaugural Mastercard Fintech Day in Accra to drive financial inclusion and innovation. Fintech company West African Monetary Institute, which aims to establish a common central bank and introduce a single currency, raised $8 million in an April 2023 round.
Agtech & New Food
Accra will host one of eight UNDP Pan-African Innovation Hubs being established across the continent, with the Accra hub focused on Agtech. Accra will host agrofood 2025, an international Agtech & New Food trade show highlighting innovative financing, women entrepreneurship, and opportunities for stakeholder collaboration. Agribusiness marketplace Farmerline partnered with the Commercial Agriculture for Smallholders and Agribusiness Technical Assistance Facility to support agribusinesses that source from smallholder farmers. Agtech startup Complete Farmer raised $7 million in a September 2023 seed round.
Logistics & Transportation
In the 2023 Agility Emerging Markets Logistics Index from logistics industry analysts Transport Intelligence, Ghana improved its global ranking by six places from the year before, coming in at #22 and scoring highest in business fundamentals. In June 2023, the CARISCA Supply Chain Research Summit took place in Accra. Supply chain platform Jetstream Africa raised a $13 million seed round in January 2023.
Reasons to Move Your Startup to Accra
Strong Business Environment
Ghana is one of the most attractive destinations in Africa for foreign investors due to its strong, stable democracy. The Fitch Solutions Operational Risk Index ranked Ghana the most attractive market for trade and investment out of 16 West African countries. Accra is home to many ministries, bank headquarters, and large markets, and is conveniently located near Tema Port, a key cross-country border for international trade.
Dedicated Support
The Ghana Startup Bill project provides legal backing to startups and promotes the use of new technologies. YouStart has a goal to create a million jobs by 2025 by providing loans to youth-led enterprises. Africa Street MBA Accelerator focuses on underrepresented entrepreneurs. UNICEF StartUp Lab, an accelerator program for businesses working to advance children and young people, offers a six-month intensive bootcamp in Accra.
Young, Tech-savvy Talent
In 2023, Ghana was home to 23 million internet users, and the internet penetration rate stood at 68% of the population. The median age in Ghana is 20.7 years. The country has made strides in expanding training in technical skills, and the 2024 Annual New Year School and Conference will focus on how to leverage technology to ensure sustainable development and nurture resilience.
Explore more ecosystems
Get connected
Are you interested in diving deeper into this ecosystem? Drop us a message. Our Ambassadors and Partners can plug you in.