Ghanaian businesses, particularly small and medium-sized enterprises (SMEs), are being strongly urged to engage professional transaction advisors as they seek to expand, attract investment, or enter mergers and acquisitions (M&A) deals.
This call was emphasised during a joint UK-Ghana Chamber of Commerce (UKGCC) and Deloitte Ghana webinar on “Enhancing the Investment Climate in Ghana – The Role of Transaction Advisors for Business Expansion and Growth.”
Speakers cautioned that many Ghanaian businesses lose value, struggle to attract capital, or collapse entirely because they attempt to pursue complex transactions without expert guidance.
However, some businesses argue that they choose to foregore advisory services because they are unaffordable. Challenging this stance, Deloitte’s Africa Infrastructure and Capital Projects Partner, Yaw Appiah Lartey, stressed that the real cost lies in not engaging professionals.
“Let us not be people who know the cost of everything and the value of nothing,” he urged, adding that the myth that “an adviser looks at your watch and tells you the time” has discouraged many entrepreneurs from seeking essential advisory support.
The experts noted that although Ghana’s investment climate remains promising, it is also complex. Enterprises without professional advisory support risk mispricing deals, overlooking regulatory requirements, failing investor checks, or making strategic mistakes that ultimately destroy value rather than create it.
The role of transaction advisors in modern business
The panel explained that transaction advisors play an end-to-end role in helping companies prepare for growth, structure deals, attract investors, and successfully integrate acquired businesses.
Deloitte Ghana Associate Director, Dennis Brown, highlighted that advisory support includes preparing comprehensive business plans and information memoranda, developing robust financial models, guiding valuations, and identifying risks and opportunities ahead of investor engagement.
Echoing this, Deloitte Africa Corporate Finance Leader, Jonathan Godden, described the advisor as a bridge that “connects a willing buyer with a willing seller,” adding that advisors understand what funders look for and help shape the information, structures, and strategies needed to meet investor expectations.
Providing insight into the integration phase of transactions, Angela Rogan, leader of Deloitte Africa Post-Merger Integration and Value Creation Services, stressed the critical role advisors play in designing integration blueprints that minimise operational disruption and preserve value for buyers. She noted that properly planned integrations ensure smooth transitions after M&A transactions, preventing value leakage.
Delloite Africa Valuation & Modelling Leader, Jared Moodley, reinforced the importance transaction advisors in objective valuations.
Without this service, he said, business owners risk making decisions based on sentiment rather than commercial reality to their detriment.
“If you’re transacting based on sentiment, it’s very neurotic. You should have a good financial model—and that comes back to having the right transaction advisors who can quantify complexity and help you make the right decision,” he said.
The panel of experts also highlighted the important role transaction advisors play in ensuring rigorous due diligence.
According to Africa Transaction Services Leader, Sean McPhee, “Due diligence is the heart of any transaction. Advisory teams examine the financial, tax, operational, commercial, legal, HR, IT, ESG and cyber elements of a business, ensuring that clients fully understand transactions and avoid costly mistakes.”
Supporting SMEs—how smaller firms can access transaction advisors
SMEs, which contribute more than 70% of Ghana’s GDP, remain the most vulnerable in terms of funding gaps, poor record-keeping, and limited investor readiness. The panel encouraged SMEs to treat advisory engagement as an investment in building capability, by strengthening financial controls, improving information systems, and developing clear strategies and business plans that reflect a deep understanding of customers and competition.
Deloitte Africa Innovation and Ventures Leader, Wendy Pienaar, emphasised that a business plan should not be seen merely as a compliance document but as a powerful positioning tool that communicates credibility to investors.
“Having a comprehensive business plan is a great way to create the right brand positioning within the market and to be able to sell your business effectively,” she said.
The webinar, moderated by Deloitte Ghana’s Samera Tara, also explored broader themes shaping Ghana’s investment ecosystem, including completion mechanisms in M&A transactions, the future of advisory services under artificial intelligence, and the factors influencing investor appetite for Ghanaian businesses.
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