F/MS Top Startup Cities

5 min read

Accra, Ghana #281

City Scores

City Total Score

1.109

Overall ranking score

Quality Score

0.15

Ecosystem quality rating

Quantity Score

0.26

Ecosystem size rating

Business Score

0.7

Business environment rating

Score Distribution

Score Comparison

MeanCEO Index Click to scroll to details

63

Startup Ecosystem in Accra, Ghana 🚀

TL;DR

Accra is currently ranked as the 281st city in the Global F/MS “Best Cities for Startups” Index. Known for its vibrant culture and growing tech scene, Accra offers a friendly atmosphere for startups, especially in technology and innovation.

Startup-Friendly Stuff 📈

1. Ease of Company Registration

  • Business Registration: Registration can be done online, making it simpler for entrepreneurs to establish their businesses.
  • Startup Incentives: Government initiatives are in place to encourage technology-driven startups.

2. Employment Law 🏢

  • Labor Regulations: Employment laws protect workers’ rights but can be complex for startups navigating regulations.
  • Hiring Foreign Talent: Processes are somewhat streamlined, but securing work permits can still take time.

3. Taxation 💰

  • Corporate Tax Rate: The standard corporate tax rate is around 25%, with potential reductions for qualifying startups.
  • VAT Regulations: Competitive VAT rates, especially in technology and services sectors, facilitate business growth.

4. Quality of Life 🌆

  • Living Standards: Accra boasts a moderate cost of living with access to modern amenities and services.
  • Culture and Leisure: A rich cultural scene complemented by vibrant markets, music, and arts; plenty of parks and recreation centers.

5. Bureaucracy 🗂️

  • Ease of Navigation: While registering a business is manageable, certain licenses and permits may still create hurdles.
  • Government Support: Programs exist to support startups, but the speed of bureaucratic processes can be slow.

6. Visas for Entrepreneurs 🌍

  • Startup Visas & Permits: Relatively straightforward visa processes for foreign entrepreneurs looking to invest in Ghana.
  • Residency Options: Available for long-term stays related to business activities.

Startup Community 🤝

7. Networking Events

  • Active community with regular startup meetups, pitch events, and workshops to foster collaboration.
  • Annual conferences attract local and international investors.

8. Subsidies and Funding 💵

  • Government-backed funding programs support innovation within startups.
  • Several incubators and grants are available to help budding entrepreneurs.

9. Venture Capital (VC) Presence

  • Investments: An emerging VC scene with increasing interest from both local and international investors.
  • Major Firms: Although still growing, notable VC firms are actively seeking startups for potential investment.

10. Incubators & Accelerators 🚀

  • A number of incubators focused on tech and creative industries provide mentorship, office space, and funding.
  • Programs are tailored to the unique challenges faced by local entrepreneurs.

Technology & Industry Priorities 🔧

  • Focus Areas: Fintech, AgriTech, HealthTech, and E-commerce are high-demand sectors for innovation.
  • Government Initiatives: Significant emphasis on digital transformation and fostering local talent.

Business Culture 🏙️

  • Language: English is the primary business language, making it accessible for foreigners.
  • Work Environment: Generally collaborative and community-oriented; innovation is embraced, with a strong entrepreneurial spirit.

General Pros and Cons ⚖️

Pros:

  • A supportive and growing tech ecosystem with increasing investment opportunities.
  • Strong cultural and social networks foster a sense of community among entrepreneurs.
  • Emerging initiatives geared toward female entrepreneurship.

Cons:

  • Some bureaucratic processes can be slow and cumbersome.
  • Limited resources in certain sectors compared to larger startup hubs.

Initiatives for Female Entrepreneurs 👩‍💼

  • A growing focus on supporting women in entrepreneurship through events, networks, and funding opportunities.
  • Organizations actively promote female-led startups and mentorship programs.

Accra stands out as a promising destination for entrepreneurs seeking a blend of opportunity, community, and innovation. 🚀

MeanCEO Index for Accra, Ghana 🚀

Accra is emerging as a vibrant hub for startups, particularly in technology and innovation. But how does this city stack up for female entrepreneurs? Let’s dissect the MeanCEO Index score across ten crucial elements.

1. Weather ☀️

  • Score: 7/10
    • Accra enjoys a warm tropical climate with plenty of sunny days, making it pleasant for year-round outdoor activities. The dry season, paired with moderate rainfall during other months, contributes positively to the score.

2. Location 🏖️

  • Score: 5/10
    • While Accra is situated along the coast, beach access varies and the waters may not always be warm enough for casual swimming. However, the coastline offers leisure options, albeit not ideal compared to other coastal cities.

3. Women Friendly 👩‍💼

  • Score: 6/10
    • Ghana’s culture is becoming more supportive of women’s rights, but some traditional views still prevail. The focus on entrepreneurship among women is growing, showcasing a willingness to evolve and embrace gender equality.

4. Foreigners Friendly 🌍

  • Score: 7/10
    • Generally welcoming to foreigners, Ghanaians are known for their hospitality. The friendliness encourages social networks; however, the ability to form close-knit relationships can vary by social context.

5. English as a Business Language 📚

  • Score: 10/10
    • English is widely spoken and used in business, making Accra an accessible environment for international entrepreneurs, particularly women.

6. Delicious Cuisine 🍲

  • Score: 7/10
    • Ghanaian cuisine is flavorful and often healthy, focusing on local ingredients. While onions are commonly used, the overall diversity in dishes offers great potential—sorry, no local wines here!

7. Ease of Getting Married and Starting a Family 💍

  • Score: 5/10
    • The dating scene has its ups and downs, with options to meet potential partners but also challenges regarding cultural expectations. The social fabric is rich yet can be traditional when it comes to family.

8. Medicine 🏥

  • Score: 6/10
    • While healthcare facilities exist, access can be hit or miss. Appointments may not always be readily available, and the quality can vary from one establishment to another, influencing the overall experience.

9. Ease of Transportation & Traveling 🚍

  • Score: 6/10
    • Public transport is available but can be inconsistent. Ride-hailing services are emerging, and Kotoka International Airport provides international connectivity, enhancing travel ease overall.

10. Startup Mindset 💡

  • Score: 7/10
    • The entrepreneurial culture in Accra is encouraging, with a growing resilience towards failure. However, being a relatively new startup environment, there’s still work to be done in fully embracing the mindset of innovation and risk-taking.

MeanCEO Index Score: 63/100 🎉

Accra is on the rise as a supportive environment for female entrepreneurs, with its nurturing startup scene and growing cultural acceptance. While there are challenges—such as some traditional views, healthcare access, and transportation limitations—the vibrant entrepreneurial spirit and community support make it an exciting destination. The combination of warm weather, English as a business language, and increasing opportunities sets a promising tone for women looking to carve their path in the startup world.

Happy entrepreneurship! 🚀