I am currently working on a Ghana Country Assessment for clients and what has come through strongly is that 1) government officials are corrupt owing to 2) decades of poor economic policy that has resulted in a weak tax base, so 3) it is more profitable for Ghanaian government officials to sell their favours and influence to make money (i.e. be corrupt).

With that, comes the news that the Ghanaian government has banned MTN Ghana from adding new clients to its network. It would seem that the Ghanaian government is setting up to force MTN Ghana into a position where it must pay a bribe (read: fine) to continue competing with the five other cellular mobile operators.

This is a huge business risk for investors looking to invest in the commercially unconquered continent, even in a country such as Ghana into which South African investors are flooding.

If readers are interested in understanding macro risks (and more) of operating in Africa, contact me for more info.