Olive Africa Acquires GTP as Ghana Strengthens Global Investment and Trade Ties

Ghana’s business landscape is undergoing a significant transformation, marked by a surge in local ownership of iconic brands and robust investment flows from regional neighbors. Olive Africa Partners Fashions, led by private equity veteran Kofi Kwakwa, has acquired TexStyles Ghana—the parent company of the legendary textile brands GTP and Woodin—from the Dutch-based Vlisco BV. This move toward domestic equity comes as the 2025 Foreign Direct Investment (FDI) Report highlights a strengthening relationship with West African partners. Nigeria has emerged as Ghana’s third-largest source of new investments, contributing US$104.68 million to a total FDI pool exceeding US$2.6 billion across 254 projects this year.

The acquisition of TexStyles Ghana grants Olive Africa full ownership and control over the company’s trademarks and operations, a move Mr. Kwakwa described as personally significant due to his family’s long-standing ties to the brand. While the company will maintain its current management during the transition, the deal signals a new era for Ghanaian textiles. To further capitalize on regional growth, Ghana's High Commissioner to Nigeria, Baba Sadiq Abdulai Abu, has met with the CEO of the Ghana Investment Promotion Centre (GIPC), Simon Madjie. Their discussions centered on the "Ghana in Nigeria" initiative, which aims to deepen economic diplomacy and leverage cultural ties to create more commercial partnerships between the two nations.

Beyond the continent, Ghana is aggressively marketing its brand to attract international capital and diaspora engagement. The government is reportedly in advanced negotiations for a £10 million "Visit Ghana" sponsorship deal with English football club Sunderland, intended to promote tourism and trade to a global audience. These efforts are complemented by the 10th anniversary of the Ghana Property & Lifestyle Expo in London. High Commissioner Mrs. Sabah Zita Benson noted at the event that the Expo has facilitated over US$100 million in property transactions over the last decade, serving as a critical bridge for the diaspora to invest in the domestic real estate market.

While the government pursues an open-door investment policy, it is also tightening regulatory oversight to protect local traders. The Ghana Union of Traders’ Associations (GUTA) has issued a stern warning against "fronting," a practice where Ghanaian traders allow foreign nationals to operate retail businesses under their names. GUTA President Clement Boateng emphasized that under the updated GIPC law, those found bypassing retail restrictions through such arrangements will face severe legal consequences. This dual focus on attracting high-value foreign investment while safeguarding local retail opportunities remains a central pillar of Ghana's current economic strategy.