The metropolis is the third most important one in Ghana in terms of industrialization and contribution to economic activity.It thus provides some of the best investment opportunities available in the country for private, local and foreign investors to exploit. With a sea port at Takoradi and railway connections to other parts of the country (Ghana Railway Corporation is actually headquartered in the Metropolis), enterprises can easily bring in inputs and take out finished products.
The climatic conditions and soil types in the Metropolitan area can support the cultivation of both tree and food crops. Oil palm, cocoyam, plantain, cassava and rice are all cultivated on a small-scale. Vegetables such as pepper, tomatoes and garden-eggs are planted under rain-fed conditions. There is plenty of opportunities for new investors entering this sector to cultivate any of these crops.
A considerable amount of undergrowth created by coconut and oil palm plantation creates an evergreen vegetation throughout the year, which is suitable for livestock grazing. Cattle, poultry, pig and rabbit production is carried out and livestock producers always to maximize profits. Marine fish production in the metropolitan area at 16,692 metric tons is about 36% of the region’s marine fish production.
However, the marine resources are over-exploited and this has necessitated the encouragement of inland fishing. The metropolis has a total cold storage capacity of 1,737 metric tons but there is plenty of need for more capacity, which creates another major investment opportunity. The metropolis, being the third most industrialized city in the country,is home for major industries, which, with a few exceptions, process agricultural, forest or mining products.
The main industrial area has about 28 industries, including some of the major ones in the country. The harbour area has two giant factories, the Ghana Cement Works Factory and the Takoradi Flour Mills. The Sekondi sector has sawmills, a railway yard and Limestone Products, another major company. The sand winning and stone quarrying industries engage about 0.42% of the entire labour force and is carried out at several locations.
Most of the trading activities take place in the Central Business District in Takoradi, which harbours, among other services, the main central market, departmental and retail stores, several filling stations and banks.While Takoradi market is heavily congested, markets such as those at Sekondi and Effia-Kuma are under-utilized.Virtually all the major banking and insurance institutions are located in the metropolis and are concentrated in Takoradi.