Red Guides

Indebtedness within the Ghanaian market poses a severe challenge to lenders and businesses trying to grow their investment portfolios. Many business organisations are indebted, and thus growth is restricted as more profits will go to settling debts. Most growth is also hindered because they have lent out money to others who have not settled and thus halting investment and growth in the business sectors.

The Matrimonial Causes Act, 1971 (Act 367), governs the current law on divorce in Ghana. The law provides that a petition for divorce may be presented to the Court by either party to a marriage. However, the Petitioner of the divorce, i.e. the person who starts the proceedings must be able to provide evidence to the effect that the marriage has broken down beyond reconciliation. This is the sole ground for divorce.

The Ghana Free Zone Board (GFZB) was established by the Free Zone Act, 1995 (Act 504) as amended by the Free Zone (Amendment) Act, 2002 (Act 618) to enable the establishment of free zones in Ghana for the promotion of economic development; to provide for the regulation of activities in free zones and other related purposes.

In Ghana, no foreigner shall employ or accept employment unless that person is granted a work permit or immigrant quota. Work permit or Immigrant quota is an authorization granted to an employer or employee to engage in lawful and gainful employment in Ghana. The work permit or immigrant quota specifies the job title. It indicates the employer by whom that person is employed, and the holder cannot engage in any other employment, business, profession or occupation in Ghana

Local Content is an obligation recognized in any exploration and production contract (such as concession agreement, petroleum agreement) or by law or regulation and enjoining companies to procure a minimum percentage of goods, equipment, and services from local suppliers.

On July 14th, 2016, the Minerals Commission of Ghana issued a directive to govern the export of gold from Ghana by License Gold Exporters (LGE) other than holders of Mining Leases. These measures communicated by the Minerals Commission shall be in force until substituted by other procedures that may be prescribed in the future. They remain the only means to have a gold exported in Ghana by a licensed gold exporter (company).

Responsible mining has a significant positive impact, both on the macro-economy of Ghana and the lives of the citizens within the catchment areas where this mining takes place. Many multinational companies which undertake large-scale responsible mining in Ghana depends on the services of a license Mining, Support Service Company to thrive.

To obtain a License in Ghana for the operation of the business of microfinance (moneylending), one has to go through a three-pronged process. The applicant, with the assistance of Legalstone Solicitors LLP, would have to ensure that the regulatory regime in 3 key government of Ghana agencies is adhered to.

Ghana is endowed with abundant natural resources, which have played a key role in the development efforts of the country. Ghana has a long history of mining, especially for gold. Gold is a precious metal of high monetary value, sought after for the production of coins, jewellery, and other artifact. It is a fact, evidence by records over the years, that gold is a major foreign exchange earner for Ghana’s socio-economic development.

To obtain a Gaming License in Ghana, one has to go through a three-pronged process. The applicant, with the assistance of Legalstone Solicitors LLP, would have to ensure that the regulatory regime in 3 key government of Ghana agencies is adhered to.

Under Act 919, all petroleum resources existing in its natural state in, under or upon any land in Ghana, rivers, streams, watercourses throughout Ghana, the exclusive economic zone and any area covered by the territorial sea or continental shelf, is the property of the Republic of Ghana and is vested in the President on behalf of and in trust for the people of Ghana.

Usually, a work permit is valid for one (1) year with the option of renewal. It must be noted, however, that a foreigner that has been granted a work permit or immigrant quota cannot start working immediately in Ghana unless that person is granted residence permit by the Director of Immigration to remain and work in the country.

Ghana has overtaken South Africa to become the largest gold producer and exporter in Africa. Gold is a major export commodity for Ghana and contributes significantly to Ghana’s revenue. This precious metal contributes nearly 48% of the country’s revenue.

Ghana is well endowed with gold deposits and is one of the most attractive business markets in West Africa. Ghana’s wealth of resources, democratic political system, and dynamic economy makes it undoubtedly one of Africa’s leading and stable economy, more conducive to do business than expected. Ghana’s gold deposit is evident in the gold reserves, which, according to the US Geological Survey, is estimated to be 50 million ounces (1,600 tons).

In Ghana, Technology Transfer Agreements are entered into between enterprises (referred to as the Transferee) and enterprises outside Ghana (referred to as the Transferor). The provisions of every technology transfer agreement in Ghana must conform to and are governed by the laws