Ghana’s shea industry: a profitable investment space you may be overlooking

shea nut industry in ghana

Certainly, there’s an understandably strong leaning towards cash crops like cocoa, coffee, cotton, and tea… but have you ever considered shea? If not, then the story of Skin Gourmet, a shea business that began in Ghana with only $45, but raked in $600,000 in a few years, should give you something to ponder about.


The case for the shea industry has grown stronger recently regarding market accessibility and profitability, making it an enticing investment option. Its products, particularly shea butter, have become popular among global consumers due to the growing interest in natural and organic products. The shea butter market size surpassed USD 2bn in 2022 and is anticipated to reach USD 4bn by 2032, driven by the increasing consumption of confectionary and bakery items in Europe, North America and Asia Pacific (Global Market Insights).


Besides its well-known shea butter products, the shea crop has many other uses that investors can explore. It can be used in food preparation, frequently as a soup thickener or a condiment; as a foundation for soap production; in the creation of candles, and the production of hair care products and medications.


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Request for expression of interest & Terms of reference for GIPC’s SOPs


The Government is implementing strategic initiatives to accelerate firm growth, competitiveness, and diversification away from the commodities sector. The initiatives are anticipated to help decrease macro-volatility, improve employment opportunities, and raise income. The Ghana Economic Transformation Project (GETP) is one of such initiative.


The World Bank has been providing funding support to the Government of Ghana (GOG) to implement the Ghana Economic Transformation Project (GETP) since 2019. The overall development objective of the project is to promote private investments and firm growth in non resource-based sectors.

The project is guided by the principle “to promote and strengthen a growth model conducive to economic transformation, to achieve higher rates of investment and productivity growth across the economy, especially in non-resource-based sectors.” The project
operates under four (4) main components, namely: Enabling investments (component 1), Crowding-in investments (Component 2), Accelerating Entrepreneurship and Micro Small and Medium Enterprise (MSME) growth (Component 3), and Project Management and Evaluation (Component 4).


To achieve the Project’s Development Objectives (PDOs), the GETP coordinates and collaborates with 11 Technical Implementing Agencies (TIAs). Among these TIAs is the Ghana Investment Promotion Centre (GIPC).
The GIPC is a government agency mandated under the GIPC Act, 2013 (Act 865) to encourage and promote investments in Ghana, to provide for the creation of an attractive incentive framework and a transparent, predictable, and facilitating environment for foreign companies establishing themselves in Ghana, as well as local businesses exploring new opportunities in the country.



Click to download Terms of Reference


Click to download Request for Expression of Interest


GIPC media orientation workshop 2024

gipc media orientation workshop 2024

On 7th June 2024, the Centre held a media orientation workshop to sensitize media stakeholders on its operations.
Participants delved deep into the GIPC Act, registration procedures, investment reports, aftercare services, and technology transfer agreements, to gain insights into the Centre’s general workings.



The workshop was crucial for keeping stakeholders abreast of the GIPC’s activities and evolving investment trends, enabling them to effectively communicate efforts in promoting Ghana as an attractive investment destination.




The dialogue was spearheaded by our Deputy CEO, Yaw Afriyie Amoateng, with contributions from our Director of Investor Services, Edward Ashong-Lartey, and Director of Legal, Naa Lamley Orleans-Lindsay. Representatives from the Bank of Ghana and the Ghana Revenue Authority (GRA) also joined the conversations.

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