Any investor with a long term view would see attractive prospects and openings in Africa, contrary to the usual narrative about businesses in Africa which tends to dwell on the negatives –, high rates of inflation, depreciation of currencies and energy crises.

What is not being told, according to Dr. Manessah Alagbaoso, Standard Bank’s Head of Commercial Banking, Africa, are the myriad of investment opportunities that exist in Africa – Ghana included.Speaking ahead of the Stanbic Bank Ghana hosted second Standard Bank inter-Africa trade and business conference which starts on October 4^th, Dr. Manessah Alagbaoso said there are significant opportunities wrapped in the obvious challenges of high rate of inflation, cedi fluctuation and current energy issues bedeviling businesses in Ghana. Successful investors see beyond the apparent, and that is why foreign investors still troop into the country.

The country recorded a 400% growth in foreign direct investments (FDI) this year, compared with the value recorded in the second half of 2015. For the first nine months of 2016, a total of 51 new projects have been registered with total initial capital transfer of $59.12 million.

Besides oil and gas which impact the economies of Ghana, Nigeria and Angola,investors have started looking into sectors like agriculture – both primary and secondary agriculture. Nigeria, for instance, having been heavily impacted by the oil price fluctuation has now shifted to agriculture as one of the key drivers of the economy. Many companies that were traditionally into oil and gas have now started investing in agriculture.

Contributing, Alhassan Andani Managing Director of Stanbic Bank Ghana said the manufacturing industry is also a key area that any serious investor interested in the growth and development of Ghana should consider. Hitherto, many African countries used to import goods that could easily be produced in their countries. This trend is, however, beginning to change a world class 21st century technology and manufacturing plants begin shooting up within the local economies. Before China started investing in Africa’s manufacturing sector, it was not considered to be attractive. This has changed with many American, European and Asian countries have begun investing in this sector as well.

The Fast Moving Consumer Goods (FMCG) sector is also fast attracting foreign investors. Many shops in the malls in Ghana today are actually non-Ghanaian entities, making Ghana tap into the many opportunities that these other African economies present.

For investors to succeed in Ghana, one key thing they need to consider, according to Alhassan Andani,is longevity. He said any business that comes to Ghana should be ready to invest for the long term if they really want to be part of the growth of Ghana.

“Doing business in Africa is not a sprint,” Alhassan Andani said. “It is more like a marathon. You cannot, in all honesty go to a foreign country and within a short time expect to make money.”

There are lessons to be learned from the Chinese businesses that have established themselves in Ghana across different areas like manufacturing, infrastructure, trade or FMCG.

“Chinese investors and businesses are clear in their strategy:  they are not here for the short-run; they are here for the long run,” Alhassan Andani said. “Ultimately it is about taking the time to understand the dynamics of the country, fostering relationships with local partners and learning what works and what doesn't.”

In turn, the host countries need to ensure, according to Alhassan Andani that there is a wide open stage for any investor – whether from other African countries or Europe, Asia, America– to invest in.

Nana Benneh, Stanbic Bank Ghana’s Head of Personal and Business Bank encouraged local investors to have a long haul view and take full advantage of the opportunities in Ghana and across Africa. As a member of the Standard Bank Group, Stanbic Bank Ghana “has the pedigree, capabilities, deep understanding, and peerless institutional knowledge of Africa to help investors thrive”, he explained.