The Competitiveness of Ghana’s Industry DISSERTATION der Universitat St.Gallen. Hochschule fiir Wirtschafts- Rechts- und Sozialwissenschaften (HSG) zur Erlangung der Warde eines Doktors der Staatswissenschaften vorgelegt von Anton Fidelis Hoefter von Wollerau (Schwyz) Genehmigt auf Antrag der Herren Prof. Dr. Jean-Max Baumer und Prof. Dr. Hans Georg Graf Dissertation Nr. 2494 Difo-Druck GmbH, Bamberg16 The competitive advantage of the Timber and Furniture Industry In 1997, Ghana exported USD 170.8 million worth of timber and furniture, an increase of 17 percent over the USD 145.6 million exports in 1996. The largest export category in 1997 was sawn wood, followed by veneer sheets and plywood. Furniture and bedding exports, worth USD 8.2 million, accounted for 4.8 percent of the total timber exports. 330 16.1 Structure of Ghana’s Timber and Furniture industry In Ghana’s timber and furniture industry, there are three major production steps Timber is cut in timber concessions, and then processed into sawn wood and veneer, from which other products such as plywood and furniture are made.331 The country’s industry employs about 75°00 people and provides indirect employment to close to 2 million people In 1997, Ghana’s Timber Export Development Board registered some 200 logging firms, about 130 saw milling, veneering and plymilling companies, and more than 200 large and medium-scale furniture and wood-working enterprises.532 The four largest exporters have annual revenues of around USD 5 to 6 million, and account for roughly 40 percent of all processed wood exports. Aside from the government, several families control a large part of the country’s timber industry.333 330 Ghana Export Bulletin (1996 & 1997) 331 Solid wood furniture is assembled from solid wooden parts, while veneered furniture is made from plywood or veneer sheets. 332 Conafiic (1996) p. 146 333 Friends of the Earth (1992) p. 15Figure 22: Structure of Ghana's Timber and Furniture industry, 1997 (Number of companias/large exporters) c Export: USD 1.3 milion ‘oncessions | EXPort: USD 1.3 ‘e000 } Export: USD 34.8 million] Veneer slicer] | Sawmills | Export USD 112.8 milion <<] carina) (too) | 989000 m? Export USD 8.2 milion Machined en ee ae timber on (40) 418000 m?__| 424000 m? f t Export: USD 1.1 milion | Flooring Door makers| | Furniture § | Export: USD 6.8 milion Sti tot | reduction ® components | Pee USP 6° @) (20/1) Ineudes one parcel boar mit and several chip Boar manafactues (exact number ot cbiaabi) ‘Source: Ghana Timber Export Development Board, IMF (1999) Table 26. p. 105 MIM Timber is Ghana’s market leader with 12 percent market share in exports. The state-owned company in the Brong-Ahafo region employs about 1’700 people. A neighbor of MIM Timber is Aftiea’s largest and Ghana’s only exporter of furniture, Scanstyle Mim, with annual revenues of about USD § million. The family-owned company employs about 650 people, and exports primarily knockdown furniture and garden furiture.334 16.1.1 Buyers Worldwide, the largest importers of tropical timber are Japan, Taiwan and South Korea, mainly from South East Asia. In Europe. tropical timber accounts for roughly 3 percent of consumption of industrial timber products. The majority of European imports of tropical logs are imported from Africa, while sources of sawn wood and plywood are more diversified. With large hard wood timber sources on 334 Knockdown furniture are furniture parts that are assembled, upholstered and painted by the importer140 its own, the US and Canada import comparatively little tropical timber products.335 Tropical timber is mainly used in certain niches where its chief qualities — hardness, high density, weather resistance, coloring — are important. It has high market shares in garden furniture, shipbuilding, parquet flooring. and construction in wet environments. In Germany, tropical timber has a high market share in window frames and outside doors because of its weather resistance without chemical treatment. In Italy, tropical timber is heavily used in the furniture industry because of its decorative coloring and texture. Timber from Ghana is mostly exported as sawn wood and as veneer. Sawn wood is used in interior and exterior joinery, such as doors, windows and staircases, in the furniture, and in the construction industry. About 80 percent of veneer from Ghana are sliced for decorative purposes, and are used in the furniture industry.336 Plywood exports are limited because of quality problems. Most of Ghana's timber and furniture exports are destined for Europe, in particular Germany, UK, Italy aud France. Furnitwe is exported primarily to the UK, sawn wood to Germany and France, and veneer to Italy Table 20: Exports of Ghana’s timber products by destination, USD '000, 1996 [Destination | Wood rough] Wood sawn | Veneer _| Flooring] Plywood | Furniture] Total Germany : 18,835| 4,167 - - - 22,702 luk - to14a] 5,278 - 1876| 4,412] 21,810 Italy - 5179] 14,356] 1,551 : : 21,086 France - 12734] 4,111 : : : 13,845 lus - 4941] 3,796 - : - 8.737 Netherlands - 5,626 74 - - 6.800 Ireland - 5,885 : : : 187] 6,042 [Spain - 2,933) 1,512 : : : 3,845 Belgium - 1603] 1,917 - : - 3,520 Japan - 4,106 - - - 4,106 Togo 804 149 : : 123 : 4,076 Top eleven 804 68.235/ 33,211] 1581] 1,999] 4,869 110,369 % total exports, 27% 77% 29%| 87% 30% 29% 77% Source: Ghana Export Bulletin (1996) 335 Barbier et al. (1994) p. 35 336 Friends of the Earth (1993) p. 48141 Demand for tropical timber in the developed World is stable to decreasing, but not expected to grow in the long term. Prices for tropical hardwood have been falling by 35 percent between 1993 and 1996.357 Recent trends in Europe go towards a reduction of log imports and a relative increase in processed timber produets, with an overall decline in total tropical timber consumption. These trends are expected to continue, leading to a loss of market share and absolute reductions in quantities of tropical timber products consumed.338 Yet, even though demand for timber is growing rapidly in developing countries, developed countries will remain the largest markets for high-priced tropical timber in the near future. 16.1.2 Competitors Tropical timber plays only a minor role in World timber trade and processing, accounting for about 5 percent of all exports in terms of volume, and 12 percent in terms of value 359 The world’s largest tropical timber exporters are Indonesia with USD 5.1 billion in 1996, Malaysia (USD 4.8 billion), and Brazil (USD 1.0 billion). Both Malaysia and Indonesia export primarily processed timber in form of veneer and plywood, with Malaysia responsible for 44 percent of exports to the EU. The largest timber exporters in Africa ahead of Ghana are Gabon (USD 399 million), Cote d'Ivoire (USD 389 million) and Cameroon (USD 272 million) 340 African countries still export large shares of their timber in form of logs, capturing 99 percent of the EU topical log market.341 The furniture market can be segmented into solid wood furniture and plywood/veneered furniture. The veneered furniture segment is very technology intensive, requiring sophisticated machinery and highly skilled operators. For export, Ghana is only producing solid wood funiture, which require less technology. Competition for solid wood furniture is intensive, mainly from low- price manufacturers from Eastern Europe and the Far East. '38 Barbier et al. (1994) p. 37 '39 The high relative value stems from the fact that tropical timber is used for specific applications. Barbier et al. (1994) Table 2.3a and 2.3b, p. 10 340 Based on SITC 247, 248, 634, 635; UN Intemational Trade Statistics Yearbook (1997) 341 Friends of the Earth (1993) p. 31142 16.1.3 Substitutes Almost all applications of tropical timber are threatened by substitutes, both by cheaper temperate timber from Russia and New Zealand, and by other materials such as plastic or aluminum. Limited anecdotal evidence suggests that substitution of tropical timber with non-wood products is significant. Mainly in the building industry, aluminum for window frames and outer wall panels is replacing tropical timber, while chemically treated temperate timber is increasingly used for other outdoor applications. In railway construction, wooden sleepers have been completely substituted by concrete and steel 342 16.2 History of Ghana’s Timber and Furniture industry The development of Ghana’s timber industry started in the 19® century with the export of mahogany to the US. Significant timber exports to Europe started to take-off in 1903 with the establishment of a railway line between Kumasi and Takoradi 343 The establishment of a wood working industry at the village level started during World War II, when carpenters across the country produced furniture and wooden articles for the British Army and Air Force344 Afier the World War I, Ghana’s timber exports rose rapidly to about 2367000 cubic meters of logs and about 60°00 cubic meters of sawn timber in 1950. In 1959, Ghana’s industrial census counted already 89 timber processing companies, and 20 small- scale furniture workshops.345 and between 1963 and 1970, annual exports were around 6007000 cubic meters per year.346 In 1970, Ghana’s government "s forest implemented the first measures to get the exploitation of the count resources under control. This included the banning of exports of trees that took longer than 25 years to grow347 the establishment of the Timber Marketing Company as a buying monopoly, and limitation of the number of concessions. Tn 1974, the government also started to take controlling stakes in several sawmills 342. Brockmann, Hemmelskamp, Hohmeyer (1996) p. 53, 343 Agbodeka (1992) p. 120 344 Agbodeka (1992) p. 136. Between 1941 and 1946, the Gold Coast was a staging posts for British and American troops on their way to the Far East, Frimpong-Ansah (1991) p. 29 345 Asamoa (1996) p. 27 346 Based on Asamoa (1996) Appendix 7, p. 2) 347 Brockmann, Hemmelskamp. Hohmeyer (1996) p. 70143 and foreign controlled forest concessions. Soon after, managerial inefficiency and lack of foreign exchange to buy new equipment led to a severe decline of Ghana’s timber industry. In the mid 1980s, as part of Ghana’s economic reforms, the World Bank and UK development agencies invested USD 53 million into timber industry, primarily for purchasing of new equipment for logging and processing companies.348 Aside fiom a financial revival, there were also organizational changes, stich as the replacement of Ghana’s highly inefficient Timber Marketing Board with the Timber Export Development Board, responsible for marketing and pricing, and the Forest Products’ Inspection Bureau, which monitors contracts, maintains quality standards, and grades products Severe problems remained, such as failure to pay royalties, illegal trading, and wild felling leading to accelerated deforestation 349 In 1990, international prices for timber rose markedly, leading to a rapid export increase.350 In 1994, the Ghana’s government started to take active measures to protect the country’s forest resources by banning certain species for export.35! In late 1995, it suspended the export of unprocessed logs altogether. with the objective to curtail felling and to emphasize value added processing. As a result, the harvesting of logs decreased by 487°000 cubic meters in 1995, roughly equal to the amount of log exports in 1994 Foundation of important companies The country’s largest timber processing company, MIM Timber, was established in 1947 by Hungarian investors and remained a family-owned business until 1977, when the company was completely nationalized. Like most large timber processors, the company has built its own infrastructure complete with power supply, educational facilities for the children of its workers, and roads. The foundation of the country’s main furniture exporter, Scanstyle Mim, dates back to 1968, when it was founded as a joint venture between MIM Timber and a Norwegian businessman. Originally, the company produced parquet flooring and furniture parts using cut-off from the MIM sawmill, and moved then rapidly towards the production of finished furniture. With the nationalization of MIM. 348 Friends of the Earth (1992) p. 9: La Verle (1995) mentions USD 120 million of aid and commercial credits being invested in the forestry sector between 1983 and 1993, 349 See Conaftic (1996) and Friends of the Earth (1992) 350 IMF (2000a) p. 16 351 La Verle (1995) p. 166144 timber in 1977, the government took over a large share in Scanstyle. In 1982, a Ghanaian businessman started a massive investment and rehabilitation program. 16.3 Timber and Furniture’s Diamond of National Advantage Table 21: Determinants of timber’s competitive advantage Determinant Elements Timber | Furniture Factor conditions Raw material 2 Human resources 0 Specialized factors 7 i Capital availability i 7 Physical infrastructure 4 4 Information i 2 infrastructure ‘Administrative tT 4 infrastructure Demand conditions | Size of home market “tT - Quality of demand “tT 2 Related and supporting | Supporting industries 0 tT industries Related industries 0 0 Firm strategy, structure | Structure and rivairy 0 0 and rivalry Climate for investments | 7 1 Strategy 0 2 Government Macroeconomic 0 stability Microeconomic 0 0 environment ‘Summary Development of i 7 competitive advantage Capacity for innovation 0 7145 16.3.1 Factor conditions Raw material The main factor driving the competitiveness of Ghana’s timber and furniture industry is access to cheap raw material. However, the availability of timber is threatened by excessive resource utilization. In 1946, Ghana had between 267000 and 317000 square kilometers of Tropical High Forest.352 Since then, more than 90 percent of Ghana’s forest reserves have been logged.353 Today, the country has 266 forest reserves of 1.2 million ha for timber production, on which it grows about 680 different wood species. If these resources should be sustained, timber production should not exceed 1 million cubic meters a year, a volume that is slightly below of what has been officially produced in the last years.354 Human resources and specializ. ed factors Although the timber industry is one of the leading industries in the country, there is a gap between the excellent artisan capabilities, and the skills required for moder industrial production. Today, there are very few highly skilled indigenous workers who can program and operate modem machinery. Expertise lacks both at the technological and managerial levels 355 As a result, Ghana’s timber industry employs a significant number of European and US expatriates to manage their companies and to ensure proper utilization of imported machinery and equipment Capital availability For most parts, Ghana’s timber and furniture industry has no particular problems getting access to capital. Aside from the large capital injection of USD 53 million in World Bank loans, most of the industry’s capital is equity capital raised by the owners. Most of Ghana’s timber companies are owned by the government, or by wealthy Ghanaian and Lebanese families. Because of its export orientation and its 352 Agbodeka (1992) p. 96 353 Friends of the Earth (1992) p. 4 354 Conafric (1996) p. 146. A UK consultancy advises that the annual exploitation of timber be pegged at 300,000 cubic meters only, otherwise Ghana would be a net importer by the year 2010, African Business Issue 211, June 1996, p. 38 355 La Verle (1995) p. 167146 well-connected owners, the industry has also access to letters of credit for working capital, foreign loans, and equity participations. Physical infrastructure Poor transport infrastructure and inadequate utilities have been hampering the performance of the industry. Roads are in bad conditions, the railway system is unreliable, and most companies have to maintain their own road network in their area, Until very recently, remote saw mills and factories were not connected to the national grid and were required to operate their own generators. One company relying on public power supply had to abandon the export business because power cuts made it impossible to operate modern computer-controlled machinery. leading to frequent shipment delays and loss of customers Information infrastructure Even though the timber industry accounts for an enormous share of Ghana’s economy, there is little direct support from public or private research institutions. Interviewers mention the lack of suecess in research projects that were conducted by local universities and the absence of help by other government institutions. The Ghana Timber Export Development Board operates export promotion offices in Ghana and London, but the suecess or importance of this support is not visible Administrative infrastructure Ghana’s bureaucracy seem still to present a major obstacle — although its performance has improved over the last years, In 1995, the export of one container required 172 forms to be filled out. and due to restricted office hours containers could only be shipped Tuesday through Thursday. Exporting companies have to spend roughly USD 1°000 on annual registration fees for the Timber Board. Forest Bureau and other industry organizations. Companies cited bureaucratic difficulties as the main reason to stop exporting3$6 as delays had the consequence that contractual obligations could not be met. 356 However, one company mentioned that it was thinking to focus on exports only in order to Liberate itself fiom the need to compete for corrupt government orders where 10 percent of the order sum was typically required as pay-back,147 16.3.2 Domestic demand conditions Ghana’s home market for timber products is relatively large. In 1997, roughly 40 percent of Ghana’s officially cut timber was consumed on the domestic market. Unsatisfied demand particularly in the furniture industry poses a disincentive for furniture manufacturers and large carpenters to export. As for most articles, the quality standards of Ghanaian customers are well below the requirements of European importers. Ghanaian customers tend to accept poor work and late delivery, simply Ghanaian exporters cannot use their home markets as a learning basis for successfull exports. Adding to poor quality is the absence of furniture or building material standards. Almost every piece of furniture, every is custom made, preventing companies from running large batches of the same product. In several cases, relatively minor faults that are nonetheless unacceptable to foreign consumers have prevented companies from becoming successfull porters. A driving factor for exports however is the frequent corruption in the public purchasing process, which has forced companies to abandon the domestic because otherwise they would not get any products at all. y door and every window market in favor of export markets 16.3.3 Related and supporting industries The timber industry does not benefit from the presence of specialized suppliers or other related industries, Basically all machinery and parts are imported, along with supplies such as glue, paint, and material. While some companies are able to maintain their complex computer-controlled machinery themselves with the help of well-trained specialists and expatriates, others need to fly in specialists for repairs and upgrades. 16.3.4 Firm structure, strategy and rivalry Structure and rivalry Even though Ghana counts a lage number of timber and furniture producers. rivalry and competition are not very intense because of excess demand and easy export facilities. In the domestic market, demand outstrips supply. and exporting firms are not competing for market share. In principle, barriers to entry are low.148 However, only few companies manage to build up the required network of relationships to operate their companies successfully. Climate for investments The climate for investments in the timber and furniture industry is good. Tn general, the government supports value-added processing of the country’s raw material. Also, there are no indications about labor unrests or strikes. Strategy The dominant strategy in the timber industr neglecting domestic markets. Exporting firms are able to specialize on certain products and run large production batches. Their exports give them access to foreign exchange for further machinery investments. Also, they are able to achieve better prices in export markets in general, and there are fewer incidents of payment y is to focus on exports. only, problems or even cormuption.358 However, except for Scanstyle, no firm has started to upgrade and to move towards more innovative, higher value added products. Scanstyle’s success is a good illustration of how a consistent strategy can lead to success. Since its founding, the company has focused on producing furniture parts and knockdown furniture. Most of the company’s production is sold through its marketing agents in Europe, who form the link between the final European customer and Scanstyle. The agent’s role is to transfer specific customer requirements, complaints, and suggestions. The company produces only on orders, and only to the design requirements of its customers. In its production, the company focuses on two elements: high produet quality, and reliable delivery dates, When Scanstyle encountered supply problems, it started to backward integrate and has now the complete value chain under its own control. To ensure European quality standards, the company operates modem computer-controlled equipment, which is supported by expatriates responsible for production planning and quality control. With this strategy, Scanstyle has been able to circumvent various disadvantages: Backward integration and own power supply make the company independent from unreliable infrastructure and suppliers. The focus on demand-driven production and design saves the company design costs and eliminates the risk of not understanding European design requirements. 357 Based on IMF (1999) Table 26, p. 105 358 See Bigsten et al. (1998b) p. 8149 Competitors who have adopted individual elements of Scanstyle’s strategy have mostly failed. Another company that had invested into computer controlled machinery was forced to abandon exports because unreliable and fluctuating power supply made regular production impossible, because it was unable to secure a reliable source for raw material, and because its own designs were not in line with the taste of their European customers, 16.3.5 Influence of Government Policy The main influence of government policy on Ghana's timber industry are its felling and export regulations to ensure the sustainability of its forest reserves, and to enforce the export of higher value-added goods. These regulations forced the industry to upgrade and move towards processed products such as veneer and sawn wood. As a result, the total value of timber products exported rose by 17 percent between 1996 and 1997, with the official log production remaining constant.359 16.4 Summary and conclusion on Ghana’s Timber and Furniture industry Nature and development of competitive advantage Although it has been in operation since World War II, the focus on raw material exports have prevented the build-up of a strong diamond of national advantages for the timber industry. Still today, the competitiveness of Ghana’s timber industry is mostly limited to basic factor advantages, the access to cheap timber resources. The basic advantages have not been translated into other, more advanced advantages. The government's efforts to force the industry towards higher value- added products have been hampered by the absence of other key determinants required for sustainable success, such as a functioning transport and utility 359 Based on Ghana Export Statistics Exports, and IMF (1999a) Table 26, p. 105. However. evidence from Malaysia suggests that timber processing inside the country itself was less efficient than in importing countries both from a resource utilization (raw logs) and cost perspective.150 infrastructure, technical know-how or export legislation 369 Overall, the competitive advantage of Ghana’s timber industry is falling. Demand for tropical timber has been falling over the past years, and deforestation erodes the country’s basic factor advantages. Capacity for innovation Most timber companies are still successfully exporting semi-processed timber products, but with Worldwide demand for tropical wood falling. they are about to lose their competitive advantage. The main improvement potential lies in increased productivity. and in moving towards higher value-added products. One company, Scanstyle, has proven that Ghana’s basic factor advantage can be leveraged, as basis to upgrade and move towards other activities along the value chain of timber products. The company’s strategy was to build up the most eritical elements of infrastructure by itself. to integrate backwards, and to produce only according to customer requirements. This strategy allowed it to circumvent the country’s factor disadvantages, to avoid unreliable suppliers, and to make up for its lack of design and marketing know-how. 360 The maximum yield of Ghanaian sawmills is between 40 to 55 percent of unprocessed timber, and the rest is wasted in sawdust, Productivity improvements in this area could lead to reduice the pressure from tighter felling limits. IMF (2000a) p. 35214 Sources. Literature Addo, F.; Juleemun, D.; Sonntagbauer, P. (1995): Report on the Survey of Medium and Large Scale Manufacturing: Ministry of Trade and Industry, Accra Agbodeka, Francis (1992): An economic history of Ghana from the earliest times; Ghana Universities Press, Accra Agénor, Pierre Richard; Montiel, Peter J. (1996): Development Macroeconomics: Princeton University Press, Princeton NI Ahiakpor, James A. (1985): The success and failure of dependency theory: the experience of Ghana; in International Organization, 39, 3, Summer 1985, S. 5 Alpine, Robin W.L.; Pickett, James (1993): Agriculture, liberalization and economic growth in Ghana and Céte d’ Ivoire: 1960-1990; OECD, Paris. Ames, Geoffrey; Bennnet, C. (1995): Fish mammies and Tuna Conglomerates: Private Sector Fish Processing and Marketing in Ghana; in Jaffee, Steven; Morton, John (ed.): Marketing Africa’s High-Value Foods: Comparative Experience of an Emergent Private Sector; Kendhall/Hunt, Dubuque Illinois Anyemedu, Kwasi (1991): Export Diversification Under the Economic Recovery Program; in Rothchild, Daniel (ed.): Ghana: The Political Economy of Recovery: Lynne Rienner, Boulder & London Anmah, Bartholomew (1993): Trade structures and Employment Growth in Ghana: A Historical Comparative Analysis; in African Economic History, 21, 1993, pp. 21- 36 Amnstrong, Robert P. (1996): Ghana Country Assistance Review: a Study in Development Effectiveness; World Bank, Washington D.C Arthur, Winfred: Doverspike, Dennis: Kuthy, James (1996): Stiiking gold through a deep-level organizational intervention in Ghana's mining industry: in International Journal of Organizational Analysis, Vol. 4, Iss. 2. April 1996, pp. 175-186 Aryeetey, Emest (1993): Sectoral credit allocation policy and credit flow to small enterprises in Ghana; in Helmsing, A.H.J.: Kolstee, Th. (ed.): Small Enterprises and Changing Policies: Structural adjustment, financial policy and assistance programmes in Africa; IT Publications, London Aryeetey, Emest (1994): Private Investment Under Uncertainty in Ghana; in World Development, Vol. 22, No. 8, pp. 1211-1221 Aryeetey, Emest, Baah-Nuakoh, Amoah; Duggleby, Tamara: Hettige, Hemamala: Steel, William (1994): Supply and Demand for Finance of Small Enterprises in Ghana; World Bank Discussion Paper 251, Washington D.C215 Asamoa, Ansa (1996): Socio-economic development strategies of independent African countries: the Ghanaian Experience; Ghana Universities Press, Accra Asante, Yaw: Baah-Nuakoh, Amoah; Jebuni, Charles; Oduro, Abena (1996): Exporting manufactures from Ghana — Is Adjustment enough?; Overseas Development Institute, London Aspesi, Claudio et al. (1998): Food for West Aftica; in McKinsey Quarterly 1998, Number 1: pp. 104-115 Auberbach, Peter; Skott, Peter (1995): Michael Porter's Inquiry into the Nature and Causes of the Wealth of Nations — A Challenge to Neoclassical Economies; in Groenewegen, John; Pitelis, Christos; Sjostrand, Sven-Erik (ed.): On economic institutions: theory and applications; Edward Elgar, Brookfield and Hants Awuah, Gabriel Baffour (1994): The presence of multinational companies in Ghana: a study of the impact of the interaction between an MNC and three indigenous companies; Department of Business Studies, Uppsala University Ayres, Robert U. (1997): Theories of Economic Growth; INSEAD Working Paper Series, 97/13/EPS Bank of Ghana (1993): Annual report; Bank of Ghana, Accra Barbier, Edward et al. (1994): The Economics of the Tropical Timber Trade: Earthscan Publications, London Barr, Abigail (1995): The Missing Factor: Entrepreneurial Networks, Enterprises and Economie Growth in Ghana: Working Paper Series 95-11, Center for the Study of African Economies, Oxford Barro, Robert; Xavier, Sala-I-Martin (1995): Economic growth; McGraw Hill, New York Bates, Robert H. (198(1): Markets and States in Tropical Africa: The Political Basis of Agricultural Policies; University of California Press, Berkeley, Los Angeles. London Becker, Gary (1996): The numbers tell the story: economic fieedom spurs growth: in Business Week, May 6, 1996, p. 7 Besley, Timothy (1995): Property rights and investment incentives: theory and evidence from Ghana; in Journal of Political Economy: 103, October 1995, pp. 903- 937 Biggs, Taylor: Srivastava, Pradeep (1997): Structural Aspects of Manufacturing in Sub-Saharan Africa: Findings from a Seven Country Enterprise Survey: World Bank Discussion Paper No. 346; Washington D.C.216 Biggs, Taylor et al. (1994): Aftiea Can Compete! Export Opportunities and Challenges for Garments and Home Market Products in the U.S. Market: World Bank Discussion Paper 242, Washington D.C Biggs, Taylor et al. (1996): Africa Can Compete! Export Opportunities and Challenges for Garments and Home Products in the European Market; World Bank Discussion Paper 300, Washington D.C. Bigsten, Ame et al. (1997): Investment in Aftica’s Manufacturing Sector: a Four Country Panel Data Analysis; Working Paper Series 97-11, Center for the Study of African Economies, Oxford Bigsten, Ame et al. (1998a): Rates of Return on Physical and Human Capital in Africa’s Manufacturing Sector; Working Paper Series 98-12, Center for the Study of African Economies, Oxford Bigsten, Ame et al. (1998b): Contract flexibility and conflict resolution: evidence from African manufacturing: Working Paper Series 98-21, Center for the Study of African Economies, Oxford Bigsten, Ame et al, (1999): Exports of African manufactures: macro policy and firm behaviour: in The Journal of International Trade & Economic Development 8:1, 1999, p. 53-71 Blatiner, Niklaus; Maurer, Martin; Weber, Markus (1987): Voraussetzungen der schweizerischen Wettbewerbsfthigkeit; Verlag Paul Haupt, Bern und Stuttgart Boeh-Ocansey, Osei (1996): Product Quality and Human Resources: Small Food Processing Enterprises in Ghana; in McCormick, Dorothy; Pederson, Poul Ove (ed.): Small Enterprises: Flexibility and Networking in an African Context: Longhorn, Kenya Bomer, Silvio: Weder, Rolf (1990): Entwicklungstheorien versus moderne Mainsteam-Okonomie: Ubersicht und kritische Gegentiberstellung: in WiSt Heft 4. April 1990, pp. 158 - 164 Brockmann, Karl Ludwig; Hemmelskamp, Jens; Hohmeyer, Olav (1996): Zertifiziertes Tropenholz und Verbraucherverhalten; Physica Verlag, Heidelberg Bulir, Ales (1998): The Price Incentive to Sumuggle and the Cocoa Supply in Ghana, 1950-96; IMF Working Paper 98/88, Washington D.C. Canagarajah, Sudharshan; Mazumdar, Dipak (1997): Employment, labor markets and poverty in Ghana: A study of changes during economic decline and recovery: World Bank PRWP 1845, Washington D.C. Carlton, Dennis W.; Perloff, Jeffrey M. (1994): Modem Industrial Organization; 2nd ed., Harper Collins, New York217 Caves, Richard; Frankel, Jeffrey; Jones, Ronald (1990): World Trade and Payments; Sth ed., Scott, Forseman, Little, Brown; Glenview and London Centre for the Studies of African Economies (1997): Research Summary: Centre for the Studies of African Economies, Oxford CEPA (1998): Ghana Macroeconomic Review and Programme: Centre for Policy Analysis, Accra Chandler, Alfred (1992): Organizational Capabilities and the Economic History of the Industrial Enterprise: in Journal of Economic Perspective, Volume 6, Number 3, Summer 1992, pp. 79-100 Chhibber, Ajay; Leechor, Chad (1994): From Adjustment to Growth in Sub-Saharan Africa: the Lessons of East Asian Experience Applied to Ghana; in Journal of African Economies, Volume4, Number 1, pp. 83-114 Cleaver, Kevin; Donovan, Graeme (1995): Agriculture, Poverty, and Policy Reform in Sub-Saharan Afriea; World Bank Discussion Paper 280, Washington D.C Cobbe, James (1991): The Political Economy of Education Reform in Ghana; in Rothchild, Donald (ed.): Ghana: The Political Economy of Recovery; Lynnne Rienner, Boulder & London COLECAB, CBI, Protrade (1997): Exporting Fresh Fruit and Vegetables: A Survey and Marketing Guide on the Major Markets in the European Union; COLECAB. CBI, Protrade, no location Collier, Paul; Gunning, Jan Willem(1999): Explaining African Economic Performance: In Journal of Economie Literature. Vol. XXVII (March 1999), pp. 64- ql Conafric (1996): Ghana: We mean Business; Conafric, Tema Coyne, Kevin P.; Subramaniam, Somu (1996): Bringing discipline to strategy: in McKinsey Quarterly, Number 4, 1996, pp. 14-25 de Man, Ard Pieter (1993): 1980, 1985, 1990: A Porter Exegesis; Management Report Series No. 166, Rotterdam School of Management Diaw, Kofi; Schmidt-Kallert, Einhard (1994): The Volta Lake Project in Ghana ~ A Critical Analysis of a Giant Energy Project: in Bass Hans et al. (ed.): Energy and Sustainable Development, African Development Perspectives Yearbook 1992/93: Hamburg218 Dordunoo, C.K., Nyanteng, V.K. (1997): Overview of Ghanaian Economic Development; in V.K. Nyanteng (ed.): Policies and Options for Ghanaian Economic Development; Institute of Statistical, Social, and Economic Research, University of Ghana, Legon Dombusch, Riidiger; Fischer, Stanley (1994): Macroeconomics; 6th edition, McGraw Hill, New York and others Dunning, John H. (199(1): The Competitive Advantage of Countries and INC Activity: A Review Article; Discussion Paper in International Investment and Business Studies, University of Reading EIU (1997a): Country profile Ghana; Economist Intelligence Unit, London EIU (1997b): Country report Ghana, 3rd quarter 1997; Economist Intelligence Unit, London EIU (1998a): Country report Ghana, 2nd quarter 1998; Economist Intelligence Unit, London EIU (1998b): Country profile Ghana; Economist Intelligence Unit, London EIU (1998c): Country report Ghana, 3rd quarter 1997; Economist Intelligence Unit, London EIU (1998d): Country report Ghana, 4th quarter 1998; Economist Intelligence Unit, London EIU (1999): Country report Ghana, Ist quarter 1999; Economist Intelligence Unit. London Elbadawi, Ibrahim (1999): Can Africa Export Manufactures? The Role of Endowments, Exchange Rates and Transaction Costs; Working Paper, World Bank, Washington D.C European Roundtable of Industrialists (1993): Survey on the improvements of conditions for investment in the developing world: European Roundtable of Industrialists, Brussels Fafehamps, Marcel (1996): The enforcement of commercial contracts in Ghana; in World Development 24: pp. 427-28, March 1996 Fairbanks, Michael: Lindsay, Steve (1997): Plowing the sea: nurturing the hidden sources of growth in the developing world: Harvard Business School Press, Boston MA Foss, Nicolai (1996): Research in Strategy, Economics, and Michael Porter: in Joumal of Management Studies 33:1 January 1996, pp. 1-24219 Friends of the Earth (1992): Plunder in Ghana’s Rainforest for illegal Profit: An expose of corruption, fraud and other malpractice in the international timber trade: Friends of the Earth, London Friends of the Earth (1993): Forests Foregone: The European Community’s Trade in Tropical Timbers and the Destruction of the Rainforests; Friends of the Earth, London Frimpong-Ansah, Jonathan H. (1991): The Vampire State in Affica: The Political Economy of Deeline in Ghana; James Currey, London Garelli, Stéphane (1997): The Four Fundamental Forces of Competitiveness: in The World Competitiveness Yearbook 1997; IMD, Lausanne Gassmann, Hanspeter (1995): Globalization and Industrial Competitiveness; The OECD Observer, No. 197 December 1995/January 1996, pp 38 - 42 Ghana 40th Anniversary (1996): Ghana 40th Anniversary; Maxhill Group, London Ghana Chamber of Mines (1996): Annual report: Ghana Chamber of Mines, Accra Ghana Club 100 (1998); Ghana's Top 100 Companies, 1998; Ghana Investment Promotion Centre, Accra Ghana Export Bulletin (1996): Annual report 1996: Ghana Ministry of Trade and Industry; Ghana Customs, Excise and Preventive Service: Accra Ghana Export Bulletin (1997): Annual report 1997; Ghana Ministry of Trade and Industry; Ghana Customs, Excise and Preventive Service: Accra Gugerty, Mary Kay; Stem, Joseph (1996): Structural Barriers to Trade in Africa; Harvard Working Paper, Harvard Institute of International Development, Cambridge Gwartney, James; Lawson, Robert (1997): Economic Freedom of the World: 1997 Annual Report; Fraser Institute, Vancouver B.C. Gyimah-Boadi, E. (1991): State Enterprise Divestiture: Recent Ghanaian Experience: in Rothchild, Daniel (ed.): Ghana: The Political Economy of Recovery: Lynne Rienner, Boulder & London Harrold, Peter; Jayawickrama, Malathi: Bhattasali, Deepak (1996): Practical Lessons for Africa from East Asia in Industrial and Trade Policies; World Bank Discussion Paper 310, Washington, D.C Herbst, Jeffrey (1993): The politics of reform in Ghana, 1982 - 1991; University of California Press, Berkley, Los Angeles, Oxford Heritage Foundation (1997): Index of economic freedom; The Heritage Foundation, Washington D.C. IMD (1997): The World Competitiveness Yearbook 1997; IMD, Lausanne220 IMF (1997): International Financial Statistics Yearbook 1997; IMF, Washington DC. IMF (1998): Ghana: Statistical Annex; IMF Staff Country Report No 98/2 Washington, D.C IMF (1999a): Intemational Financial Statistics Yearbook 1999; IMF, Washington DC. IMF (1999b): Ghana: Selected Issues: IMF Staff Country Report No. 99/3. Washington, D.C IMF (2000a): Ghana: Selected Issues; IMF Staff Country Report No. 2000/2, ‘Washington, D.C IMF (2000b): Ghana: Statistical Annex; IMF Staff Country Report No 2000/1 Washington, D.C. Jacobeit, Cord (1991): Reviving Cocoa: Policies and Perspectives on Structural Adjustment in Ghana’s Key Agricultural Sector: in Rothchild, Daniel (ed.): Ghana: The Political Economy of Recovery: Lynne Rienner, Boulder & London Kapur, Ishan et al. (1991): Ghana: Adjustment and Growth, 1989-91; International Monetary Fund (Occasional Paper 86), Washington D.C. Kennedy, Paul (1988): African Capitalism, the Struggle for Ascendancy: Cambridge University Press, Cambridge Krommey, Helmut (1990): Empirische Sozialforschung: 4th ed., Leske Verlag & Budrich GmbH, Opladen Krugman, Paul (1991): Geography and Trade; Leuven University Press, Leuven; MIT Press, Cambridge MA Krugman, Paul (1994): Competitiveness: A Dangerous Obsession: in Foreign Affairs, March/April 1994, pp. 28-44 Kuada, John E. (1994): Managerial Behaviour in Ghana and Kenya — A Cultural Perspective; Aalborg University Press, Aalborg La Verle, Berry (ed.) (1995): Ghana: a country study: Federal Research Division. Washington D.C Lall, Sanjaya (1995): Structural Adjustment and African Industry: in World Development, Vol. 23 No. 12, pp. 2019-2031, 1995 Lall, Sanjaya (1992): Structural Problems of African Industry: in Lall, Sanjaya: Stuart, Frances: Wangwe, Samuel (ed.): Alternative Development Strategies. in Subsaharan Africa: St. Martin’s Press, New York221 Lall, Sanjaya: Navaretti, Giorgio; Teitel, Simén; Wignaraja, Geneshan (1994) Technology and Enterprise Development: Ghana under Structural Adjustment: St Martin’s Press, New York Lall, Sanjaya; Wignaraja, Ganeshan (1997): Skills and capabilities: Ghana’s industrial competitiveness: in Godfrey, Martin (ed): Skill Development for International Competitiveness; Edward Elgar, Cheltenham, Brookfield Leechor, Chad (1994): Ghana: frontrunner in adjustment; in Husain, Ishrat; Farugee, Rashid (ed): Adjustment in Africa: Lessons from Country Case Studies: The World Bank, Washington D.C. Leith, J. Clark; Lofehie, Michael (1993): The Political Economy of Structural Adjustment in Ghana; in Bates, Robert; Krueger, Anne O.: Political and Economic Interactions in Economic Policy Reform: Evidence from Eight Countries; Blackwell. Oxford and Cambridge MA Lele, Uma; Gockowksi, James; Adu-Nyako, Kofi (1994): Economies, Politics, and Ethics of Primary Commodity Development: How Can Poor Countries in Africa Benefit the Most?; IMF Working Paper 94/23, Washington D.C. Marsh, Ian; Tokarick, Stephen (1994): Competitiveness Indicators: A Theoretical and Empirical Assessment; IMF Working Paper 94/29, Washington D.C McKinsey (1997): Factpack; Aluninum; Internal Practice Document, McKinsey. Berlin McKinsey (1998): Global Competitors in the Alumina and Primary Aluminum Industry; Internal Practice Document, McKinsey, Johannesburg McKinsey Global Institute (1994): Latin American Productivity; McKinsey & Co, Washington, D.C MeMillan, Susan (1995): Foreign Direct Investment in Ghana and Céte d'Ivoire; in Chan Steve (ed.): Foreign direct investment in a changing global political econon StMartin’s Press, New York Meckl, Reinhard; Rosenberg, Christoph (1995): Neue Ansétze zur Erklrung intemationaler Wettbewerbsfahigkeit: Versuch einer Synthese zwischen volks- und betriebswissenschaftlicher Sichtweise: in Zeitscluift fiir Wistschafts- und Sozialwissenschaften (ZWS) 115 (1995) S. 211-230 Mengistae, Taye; Teal, Francis (1998): Trade liberalization, Regional integration and. Firm performance in Africa's Manufacturing Sector: Report to the European Commission, REP 98-1, Center for the Study of African Economies, Oxford Nelson, Richard; Winter, Sidney (1982): An Evolutionary Theory of Economic Change: Harvard University Press, Cambridge and London222 Neuner, Andreas (1993): Die Wettbewerbsfihigkeit der amerikanischen Automobilindustrie am Ende der 80er Jahre; Peter Lang, Frankfurt am Main und andere North, Klaus (1997): Localizing global production: Know-how transfer in intemational manufacturing: ILO Management Development Series No. 33, Geneva Nowak, Michael; Basanti, Rifaat; Horvath, Balazs; Kochhar, Kalpana; Prem, Roohi (1996): Ghana, 1983-91; in Hadjimichael, Michael; Nowak, Michael; Sharer, Robert; Tahari, Amor: Adjustment for Growth, the African Experience; IMF. Washington D.C OECD (1996a): Export Fruit Boom from the South: A Threat for the North?: OECD, Paris OECD (1996b): Industrial Competitiveness; OECD, Paris Osotimehin, Fola: Tiffin, Scott: Saunders, Richard (199(1): New Technologies and Enterprise Development in Africa: Development Center Studies, OECD. Paris Pattillo, Catherine (1997): Investment, Uncertainty, and Ineversibility in Ghana; IMF Working Paper 97/169; Washington D.C Petchenkine, Youry (1993): Ghana: In Search of Stability 1957 - 1992; Praeger, Westport & London Pickett, James: Shaeldin, P. (1990): Comparative advantage in agriculture in Ghana; OECD Technical Paper No. 31, Paris Porter, Michael E. (1980): Competitive Strategy: Techniques for Analyzing Industries and Competitors; The Free Press, New York and others Porter, Michael E. (1985): Competitive advantage: Creating and sustaining superior performance; The Free Press, New York and others Porter, Michael E. (1990a): The Competitive Advantage of Nations: Macmillan Press, London and Basingstoke Porter, Michael E. (1990b): ‘The Competitive Advantage of Nations; Harvard Business Review, March-April 1990, pp 73-93 Porter, Michael E. (1996): What Is Strategy?; in Harvard Business Review. November-December 1996, pp. 61-78 Porter, Michael E. (1997): Foreword: in Fairbanks, Michael: Lindsay. Steve: Plowing the sea: murturing the hidden sources of growth in the developing world: Harvard Business School Press. Boston MA Porter, Michael E, (1998a): The microeconomic foundations of economic development: in World Economic Forum (1998): The Global Competitiveness Report: World Economic Forum, Geneva223 Porter, Michael E. (1998b): Measuring the microeconomic foundations of economic development: in World Economic Forum (1998): The Global Competitiveness Report: World Economic Forum, Geneva Porter, Michael E. (1999): Microeconomic competitiveness: Findings from the 1999 Executive Survey; in World Economic Forum (1999): The Global Competitiveness Report; World Economic Forum, Geneva Presidential Report to Parliament (1995): Ghana — Vision 2020 (the First step: 1996- 2000): Government of Ghana, Accra Rabobank (1995): The cocoa and chocolate market; Food and Agribusiness Research, Rabobank, Utrecht Rimmer, Douglas (1992): Staying poor: Ghana's political economy 1950 - 1990: Pergamon Press, Oxford ete. Roe, Alan: Schneider, Hartmut (1992): Adjustment and Equity in Ghana; OECD, Paris Roemer, Michael (1996): Could Asian Policies Propel African Growth?; Harvard ‘Working Paper, Harvard Institute of International Development, Cambridge Sachs, Jeffrey; Sievers, Sara E. (1998): The Africa Competitiveness Report 1998, Executive Summary; World Economic Forum, Davos (Internet download) Sachs, Jeffrey; Warner, Andrew (1995): Natural Resource Abundance and Economie Growth, NBER Working Paper 5398, Cambridge, MA Saint, William (1992): Universities in Africa: Strategies for Stabilization and Revitalization; World Bank Technical Paper No. 194, Washington D.C. Schmidt-Kallert, Einhard (1994): Ghana: Perthes Verlag, Gotha Schultz, Paul (1994): Human capital and economic development; Discussion Paper Yale University, Economic Growth Center, No. 711 Schumpeter, Joseph (1993): Theorie der wittschafilichen Entwicklung: 9th ed., Duneker & Humblot, Berlin Singh, Ajit (1994): State Intervention and the ‘Market-Friendly’ Approach to Development: A Critical Analysis of the World Bank Theses; in Dutt, Amitava: Kim, Kwan (ed.): The State, Markets and Development: Beyond the Neoclassical Dichotomy; Edward Elgar, Brookfield Singleton, John (1997): The World Textile Indust York Routledge. London and New Statistisches Bundesamt (1994): Landerbericht Ghana, 1992: Wiesbaden224 Sten, Nicholas (1989): The Economics of Development: A Survey: in The Economic Journal, September 1989, pp. 397 — 685 Stern, Nicholas (1991): The determinants of growth: in The Economic Journal, 101 (Jamuary 1991), 122-133 Teal, Francis (1995): Does ‘Getting Prices Right’ Work? Micro Evidence from Ghana; Working Paper Series 95/19, Center for the Study of African Economies, Oxford Teal, Francis (1995): Real Wages and the Demand for Labour in Ghana's Manufacturing Sector: Working Paper Series 95-7, Center for the Study of African Economies, Oxford Teal, Francis (1997): Real Wages and the Demand for Labour in Ghana’s Manufacturing Sector: 1991-1995; Working Paper Series 97-10, Center for the Study of African Economies, Oxford Teal, Francis (1998a): The Ghanaian Manufacturing Sector 1991-1995: Firm Growth, Productivity and Convergence: Working Paper Series 98-17, Center for the Study of African Economies, Oxford Teal, Francis (1998b): The Ghanaian Manufacturing Sector: Firm Growth, Productivity, Exports and Investment; REP 98-2, Center for the Study of African Economies, Oxford Teal, Francis (1999): Why can Mauritius export manufactures and Ghana not?; Working Paper Series 99-10, Center for the Study of African Economies, Oxford Tsikata, Fui (1997): The vicissitudes of mineral policy in Ghana: in Resources Policy, Vol. 23 No 1/2, pp. 9-14, 1997 Ul Haque, Irfan (1994): International Competitiveness: The State and the Market; in Dutt, Amitava; Kim, Kwan (ed.): The State, Markets and Development: Beyond the Neoclassical Dichotomy; Edward Elgar, Brookfield UNCTAD (1999): World Investment Report 1999; UNCTAD, Washington D.C. UN Trade Statistics Yearbook (1997): 1996 International Trade Statistics Yearbook, Volume II; United Nations, New York UNDP (1997): Ghana Human Development Report: United Nations Development Programme, Accra United Nations (1997): Handbook of world mineral trade statistics; 1991-1996: United Nations, New York US Department of Commerce (2000): Country Commercial Guide, Ghana 2000: Embassy of the United States, Accra225 Van der Linde, Claas Matthias (1991): The Competitive Advantage of Germany: A. Microeconomic Approach; Dissertation Hochschule St.Gallen, H. Tschudy & Co., St.Gallen Von Gnielinski, Stefan (1986): Ghana: Tropisches Entwicklungsland an der Oberguineakiiste; Wissenschafiliche Buchgesellschaft, Darmstadt Woode, Samuel (1997): Values, Standards and Practices in Ghanaian Organisational Life: Asempa Publishers, Accra World Bank (1993a): Ghana 2000 and Beyond: Setting the Stage for Accelerated Growth and Poverty Reduction; Africa Regional Office, Western Africa Department, Washington D.C ‘World Bank (1993b): The East Asian Miracle: Economic Growth and Public Policy: Osford University Press, Oxford ete. World Bank (1994): Adjustment in Africa: Reforms, Results and the Road ahead: Oxford University Press, Oxford ete World Bank (1995): Global Economic Prospects and the Developing Countries: World Bank, Washington D.C. World Bank (1999): Knowledge for Development; Oxford University Press, Oxford ete. World Economic Forum (1998): The Global Competitiveness Report 1998: World Economic Forum, Geneva Yankson, Paul (1996): Small-Scale Aluminum Industry in Ghana: Employment, Profitability, and Development Strategies; in McCormick, Dorothy; Pederson, Poul Ove (ed.): Small Enterprises: Flexibility and Networking in an African Context; Longhom, Kenya226 Several institutions have provided statistics and brochures, or have Websites from which information and data were downloaded: Aluworks, Tema Centre for the Study of African Economies, Oxford (www.economies.ox.ac.uk/CSAE) Divestiture Implementation Committee, Acera (www webstar.com. gh’) EIU ViewsWire, London (www.viewswire.com) FAO, Rome (www.fao.org) Ghana Export Promotion Couneil, Accra Ghana Free Zones Board, Accra Ghana Investment Promotion Centre, Accra (www gipe.org.gh) Ghana Timber Export Development Board, Acera Ministry of Education Statistical Service, Accra Ministry of Trade and Industry, Accra (www-ghana-embassy.org) Tradeport, Washington (www tradeport.org) US Department of Commerce, Washington (www.bea.doc.gov) World Economic Forum, Geneva (ww. weforum org; www.worldeconomicforum.org)Interviews 227 Company / Institution Interview partner Location, Date Akosombo Textiles Kwaku Asare-Menako. Administrative Manager Accra, March 1998 Akuaba Limited HM. Adusei-Herbstein, Managing Director Accra, March 1998 Aluworks John Nyarko, Managing Director Tema, Feb. 1998 Ashanti Goldfields James Anaman, Corporate Affairs Manager Pamela Djamson-Tettey, Deputy Investor Relations Manager Accra, August 1995 Acera, March 1998 Association of Ghana Industries Dr. Justice Addison, President Eddi Imbeah-Amoakuh, Executive Secretary Accra, Feb. 1998 Accra, August 1995 Asuo Peabo Dr. Ebenezer Mireku, Consultant Acera, March 1998 Barclays Bank Robert A. Wallace, Export Accra, August 1995 Officer CAL Merchant Bank | Ken Ofori, A.G. Director, Credit | Accra, March 1998 CEPA Dr. Charles Jebuni, Professor of | Legon, August 1995. Economics Dr. Samuel Ashong, Research Fellow Acera, Sept. 1995 Acera, March 1998 Cessa Textiles Cynthia Agyekum, Owner ‘Accra, Sept. 1993 Chamber of Commerce Sal Doe Amegavie ‘Accra, August 1995 Cocoa Marketing Board | Ken Brew, Economist Accra, Feb, 1998 Deloitte & Touche Dr. P. Kwesi Nduom Accra, August 1995 Consulting Domod Dr. Henry Mesah-Brown, Acera, Feb, 1998 General Manager Ghana Bauxite Mining Corporation Ben Adoo, Managing Director Accra, March 1998228 ‘Company / Institution Ghana Export Promotion Council Interview partner Tawia Akyea, Executive Secretary Constance N. Luacoe, Director General Location, Date Accra, Feb. 1998 Accra, August 1995 Ghana Investment Promotion Centre Stephen Osei Yeboah Accra, August 1995 Goldfields Ghana Helgo Kahle, Managing Director | Accra, March 1998 Mahagony Wood Fritz Soltermann, Managing Accra, March 1998 Processing Director Milani Pineapple Bijean Milani, Owner and CEO _| Accra, March 1998 ‘Ministry of Trade and Industry Abraham Laryen-Odai Acera, March 1998 Merki Woodworks Kurt Merki, Owner Tema, March 1998 Nkulenu Industries Dr. Esther Okloo, Founder and CEO Tegon, March 1998 Pioneer Food Company Dr. Osei Boeh-Ocansey. Managing Director Tema, Febr. 1998 Scanstyle MIM Standard Chartered Bank Ghana Michael Pepera, Managing Director Kwasi Amponsah, Operations Manager E. A. Boate, Head Credit Operations Acera, March 1998 Accra, Sept. 1995 Accra, Febr. 1998 State Enterprise Comission W.A. Adda Accra, August 1995229 Curriculum Vitae Anton Hoefter 1969 Born in Bad Télz, Germany 1998 Matura Typus A at the Stiftsschule Einsiedeln 1988 — 1989 Chinese language studies at the Shanghai University of Engineering Science, China 1989-1993 Studies of polities, law, and economies (Staatswissenschaften) at the University of St.Gallen (HSG); two terms at the London School of Economics (LSE) with General Course; internships in Hong Kong and Nicaragua 1993 — 1995 Master of Business Administration (MBA) at the University of Michigan, Ann Arbor 1995 — 2000 Associate / Engagement Manager with McKinsey & Company, Ziivich 1995 ~2001 Completion of doctoral thesis at the University of St.Gallen (HsG) since 2000 Chief Executive Officer of Bellvita AG, Ziirich