Ghana offers tax breaks to attract education investors
Following the success stories of Indian-owned educational institutions Bluecrest University (formerly NIIT) and IPMC Training in Ghana, other Indian companies can take advantage of the government’s decision to offer tax breaks to entrepreneurs to improve the country’s education sector.
Presenting the 2018 budget earlier this month, Finance Minister Ken Ofori-Atta said Ghana is considering tax breaks to assist entrepreneurs in the higher institutions sector to help position the country as a higher-education hub as of the recent growth in the sector which has attracted students from the West African region to the country.
Figures from the National Accreditation Board (NAB) show that there are 10 public universities and 79 private universities in the country. There are also five registered tertiary institutions. But these do not seem to be serving the enormous number of students looking to enter universities.
Ofori-Atta said the education sector represents high-growth potential with multiplier effects on the economy as confirmed by a recent “Country Private Sector Diagnostic” study by the World Bank Group. This is also borne out by the rapid growth in privately-owned and managed universities as well as in the inward flow of students from the West Africa sub-region.