Our bees did market research on the gold-refining industry in Ghana.
The client is an individual entrepreneur from Ghana. They wanted to start a new business within the gold refining industry in Ghana. Initially, we have conducted Market Research that provides insights into Ghana’s gold refining industry. As well as its market, regulations and gold refining competitors in the country. In short, the research included information from a variety of articles, reports and other information sources that contain relevant data for this research.
The client was very happy with the findings and requested to continue with a business plan. The project included External and Internal Analysis, Financial Plan and SWOT analysis.
Even though Ghana is the leading exporter of gold in Africa, none of the 125 accredited gold refineries takes place in Ghana. Over 98% of gold mines in Ghana export in raw form to Asia and Europe at a fraction of the price on the world market. As a native of the largest gold mining region in Ghana, our client envisioned a method of adding value to the gold mines, creating wealth for local miners, promoting environmental sustainability and creating employment for the skilled youth in the Ashanti Region.
Specifically, the target region were Gold Markets in the United States, Europe and Asia.
Regarding the business plan, our client had these goals:
1yr – 5yrs: Establish a trusted and reputable gold refinery in Ghana. The refinery will be licensed with at least five associations and exchanges in Asia, Europe and USA for good delivery.
5yrs – 10yrs: Become the dominant establishment in West Africa for gold refining and coin/collectable mint and production.
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