According to the Transport Minister, Ghana's aviation sector continues to be an attractive option for investors and businesses alike. With a growing economy and increasing demand for air travel, the country offers numerous opportunities for growth and development in the industry. The government has made significant investments in infrastructure and technology, ensuring that Ghana remains a competitive player in the global aviation market. The Minister emphasized the importance of maintaining high standards of safety and security, as well as promoting sustainable practices to ensure long-term success. Overall, the aviation sector in Ghana is poised for continued growth and success, making it a promising area for investment and expansion.
The Minister for Transport, Kwaku Ofori Asiamah, has called on international airlines to take advantage of the conducive aviation operating environment in the country to scale up their operations.
Speaking through the Chief Director of the Transport Ministry, Madam Mabel Sague, he noted that the recent increase in frequencies by renowned international airlines servicing Accra’s Kotoka International Airport is a huge vote of confidence in Ghana.
“We recognise that British Airways has many options when it comes to air travel and we are honoured that you have chosen to add this new route to your operations.
British Airways' decision to add a new route
The government is therefore excited by the decision taken by BA to commence another route Gatwick-Accra-Gatwick to the already Heathrow-Accra-Heathrow route. This affirms, I believe, BA’s confidence in the growth potential and attractiveness of the aviation sector in Ghana,” he said.
His speech was delivered at the inaugural ceremony for British Airways’ 3x per week Gatwick-Accra-Gatwick service held at the Forecourt of the VIP Area at Accra’s Kotoka International Airport on Sunday, October 29, 2023.
Accra as the most connected market in West Africa
Ghana, described by security analysts as a good boy in a bad neighbourhood, has had a stable democratic political system for almost three decades. The country’s judiciary and law enforcement remain robust to address any issues that may arise from a business’s operations in Ghana.
The availability of forex for airlines to repatriate to their various headquarters, despite the economic squeeze post-pandemic that has necessitated a bail-out by the International Monetary Fund (IMF) and debt restructuring with domestic and foreign creditors, makes it an ideal operating market for airlines unlike other countries in the Sub-region where airlines struggle to repatriate their funds.
Challenges faced by airline in certain countries
The airline industry’s blocked funds increased from $1.55 billion in April 2022 to $2.27 billion in April 2023, representing an increase of some 47 per cent. Nigeria ($812 million), Algeria ($196m), and Lebanon ($141.2 million), are three countries where airlines struggle to repatriate their funds. Africa’s population constitutes some 18 percent of the world population but contributes just 2.1 percent to global aviation.
-Source(Aviationghana)
