Ecuador Real Estate and International Investments are everywhere. Recent messages have looked at how there may be extra value through international investments in Ecuador real estate now. Ecuador is just one of many places though. Because our messages are mostly about what we are doing, we just focus on Ecuador real estate a lot.
However the great beauty of international investments is that the sun always shines somewhere. Ecuador is great for some people, especially due to proximity, Canadians and Americans. However there are many other wonderful paces and one I suspect is Ghana.
Ghana first came to my attention when I met a reader who is Ghanan and has a business there. He invited me to come and look at the potential. He showed us how this area is growing rapidly with a great influx of Europeans. Ghana offers Europeans many of the same advantages as Ecuador offers North Americans.
Merri and I were so impressed that we recommended that our daughter, Francesca, go there and look for international investments and international real estate opportunity. She has moved for now to Swaziland instead, but in the words of Bartholomew Bastion Bux “That’s another story for another time”.
First, we always begin with the people. The Lonely Planet website is encouraging about this when it says:
“If an award were given for the country with the friendliest people in West Africa, Ghana would be a strong contender. Spend a few hours in the breezy capital at Accra, and you'll swear the wind and waves off the Gulf of Guinea have infused the land and people alike with equatorial warmth.”
Next we look for beauty. In this case a couple of pictures from a small hotel for sale in Gahna suggests this sensation is not lacking.
Third, we look for the right economic conditions, poor but improving. We want to work and invest in place where we can help and that can and will use and appreciate our help.
Ghana’s gross domestic product is 55.76 billion just below Ecuador’s 57.3 billion. However I expect that Ghana is much poorer as the currency adjusted GDP for Ghana is only 9.14 GDP compared to Ecuador’s 30.70 billion.
This is confirmed by Ghana’s per capita income being only $2,900 a year, quite a bit lower than Ecuador’s $4,700. So I suspect (not having been there) that the “you can get anything capability in Ecuador” is not quite yet alive in Ghana.
This could provide some good opportunity! Plus Ghana’s 5.9% GDP growth rate is faster than that Ecuador’s 4.7%.
The CIA says at their World Fact Book website:
Well endowed with natural resources, Ghana has roughly twice the per capita output of the poorer countries in West Africa. Even so, Ghana remains heavily dependent on international financial and technical assistance. Gold, timber, and cocoa production are major sources of foreign exchange. The domestic economy continues to revolve around subsistence agriculture, which accounts for 34% of GDP and employs 60% of the work force, mainly small landholders. Ghana opted for debt relief under the Heavily Indebted Poor Country (HIPC) program in 2002, but was included in a G-8 debt relief program decided upon at the Gleneagles Summit in July 2005. Priorities under its current $38 million Poverty Reduction and Growth Facility (PRGF) include tighter monetary and fiscal policies, accelerated privatization, and improvement of social services. Receipts from the gold sector helped sustain GDP growth in 2005 along with record high prices for Ghana's largest cocoa crop to date. Inflation should ease but remains a major internal problem. Ghana also remains a candidate country to benefit from Millennium Challenge Corporation (MCC) funding that could assist in transforming Ghana's agricultural export sector. A final decision on its MCC bid is expected in spring 2006.
Ghana is slightly north of the Equator so its climate is more tropical than Ecuador’s but definitely warm. It’s comparatively dry along the southeast coast; hot and humid in southwest; hot and dry in north.
The political system is democratic with a President elected each four years, a Congress and Supreme Court. The legal system is based on British Common Law.
Many pieces for success are in place for growth, fair legal system, good growth, plenty of land and labor and sun. I am sure there are quirks and risks like anywhere but there is enough good in the outside facts for those so minded to take a look.
Steve, our man in Ecuador, has a long time friend who wishes to sell a resort she has developed in Ghana.
The resort is located in a rich tourism region along a beach outside a small fishing village (Ampenyi). The project is family friendly and has received awards for its ecological orientated concepts.
Founded 10 years ago, it offers accommodation for up to 40 guests with space for more buildings on the 90,000 + square foot lot. There is a fully developed infrastructure (water, electricity, solar system, access road, telephone).
Clients are embassy employees and their families, engineers, expatriates, development workers and academics from abroad. Highlights are exotic gardens with papayas, guavas, oranges, lemons, sweet apples, lemongrass and countless coconut-trees and a colorful flower garden. There are hammocks, a meditation area and natural rock pools in the otherwise rough Atlantic.
The guesthouse is well established, all papers are correct and the business is registered with all relevant institutions.
The restaurant offers a wide range of continental and local dishes, fresh juices and homemade ice creams.
The asking price is 410,000 euros. The owner can be reached at KO-SAguesthouse@gmx.net
There you have it. For the price of a very moderate house in the cold north you can own your own resort on a sunny beach. The pictures of the resort below look nice!
Merri and I are committed to Ecuador and love it. For others this idea may go down well.
Wherever you are and wherever you go, I hope this Sunday the sun shines on you!
A Ghanan sunrise at the resort.
Ecuador has nice sunrises as well. Here is a shot taken just down the road from Cotacachi, El Meson de las Flores, by reader Jim Humphrey.
P.S. Get out of the cold, ice and snow. Join us this winter in Ecuador. We are headed south next week! Here is a schedule of the courses Merri and I will sponsor and/or conduct.
Jan. 5 – 7, Fri.-Sun. Investing Beyond Logic, Vedic Astrology. garyascott.com/catalog/va/
Jan. 22 – 26, Mon.- Fri. Self-Fulfilled: How to Be a Writer & Publisher. garyascott.com/catalog/pc/
Feb. 20 – 25, Tues.-Sun. Import-Export Course. garyascott.com/catalog/impex/
Mar. 9 – 15, Fri.-Thurs. Expanded Super Thinking + Spanish. garyascott.com/catalog/sp7/
Mar. 16 -18, Fri.-Sun. International Business and Investing Made EZ. garyascott.com/catalog/IBEZec/