The obvious economic tool of Ghana, Goldstar Air, with an issued license from the Ghana Civil Aviation Authority (GCAA) to operate scheduled and non-scheduled international flights, is expecting aircraft inspections to commence operations to North America, Europe, the Middle East, Asia, and West Africa.
Goldstar Air, the wings of Ghana and the belly of America aims to become a leading force in resetting Ghana’s economy and contributing significantly to the country’s Gross Domestic Product (GDP). The airline seeks to stimulate increased trade volume, investment, and business activities across the country, as Goldstar Air is the obvious economic tool to reset Ghana.
The commencement of Goldstar Air’s operations guarantees the stabilization to strengthen the Cedi against major global currencies and stands as a top priority to place Ghana on a sound footing.
The aviation industry is a cornerstone of the global economy, contributing $3.5 trillion (4.1%) to the world’s GDP. If aviation were a country, it would rank 17th in economic size, equivalent to the economies of Indonesia and the Netherlands, while supporting 87.7 million jobs worldwide.
When entrepreneurship results in discoveries, the entire economy reaps the benefits. As such, most governments have no business doing business. Governments creates enabling environments for businesses to thrive, generate job opportunities for their citizens and collect taxes.
Goldstar Air’s vision extends to operating a fleet of over 100 modern aircraft, serving a network of more than 90 key business and leisure destinations. The airline aspires to be recognized among the top 100 companies in Africa and aims to create over two million direct and indirect job opportunities for Ghanaians, particularly the youth.
The airline will create sustainable job opportunities that will benefit the youth in various roles, including Pilots, Ground Service Crew, Maintenance Personnel, Farmers, Cabin Crew, Counter Agents, Travel Agents, Tour Operators, Country Managers, Station Managers, Accountants, Flight Dispatchers, Drivers, Marketing Personnel, Cleaners, IT Managers, Air Marshals, Cargo Agents, Catering Services, Hotel Accommodations, Fuel Suppliers, and many others.
Goldstar Air will collaborate with stakeholders to revitalize and globalize Ghanaian products and services, such as Aviation, Tourism, Ghana’s Golden Tree Chocolate Bar, Peebles and Drink, Ghanaian Gold Ornaments, Kente Traditional Cloth, Ghanaian Fashion, Beauty and Makeup, Cargo Services, In-Flight Catering, Ghanaian Music, Ghanaian Local drinks, Courier Services, Ghanaian Movies (Ghallywood), Ghanaian Festivals, Ghanaian Sports, and Local Beads.
When the labor force gains more human capital, including skills and general knowledge, producers gain the tools to create more goods and provide more services. When people exchange their money for goods and services, a mutually beneficial transaction occurs and when multiplied across the entire economy, the exchange drives growth and enhances overall well-being.
The production level can be measured by Gross Domestic Product (GDP), which represents the total dollar value of goods and services produced annually. Therefore, economic growth refers to an increase in GDP, which, in turn, leads to job creation and higher employment rates.
The airline’s introduction of new processes, tools, or devices will lead to a significant surge in employment opportunities. Goldstar Air will be a vital contributor to Ghana’s economic prosperity and the social well-being of the people. By providing a rapid worldwide transportation network, the airline will play an essential role in enabling global businesses to thrive, fostering economic growth, and improving the quality of life for Ghanaians.
Commercial aviation drives 5% of the United States’ Gross Domestic Product (GDP), equivalent to $1.37 trillion in 2023. United States airlines operate more than 26,000 flights daily, carrying 2.6 million passengers to and from nearly 80 countries and transporting 61,000 tons of cargo to and from over 220 countries.
Goldstar Air will play a pivotal role in enhancing the quality of Ghana’s economic transformation. This sustainable innovation aligns with massive job creation, poverty reduction, and foreign exchange earnings for Ghana, positioning the airline as a financial instrument for the nation’s growth.
Examining the value of some global market revenues, such as Aviation ($3.5 Trillion), Chocolate ($150 Billion), Tourism ($8.8 Trillion), Gold Ornaments ($100 Billion), Fashion ($3 Trillion), Beauty and Makeup ($700 Billion), Movies and Entertainment ($200.38 Billion), Sports ($2.65 Trillion), Cargo ($2.2 Trillion), Music Copyright ($45.5 Billion), Courier Services ($485 Billion), Food and Beverage ($550 Billion), Aviation Insurance ($466.79 Billion), Aviation Insurance ($15.65 Billion), Maintenance, Repair, and Overhaul ($104 Billion), and In−Flight Catering ($22 Billion), and In-flight Catering ($22 Billion). Ghana can seriously tap into these income streams and within few years, the country could potentially pay off its debt of over GHS 761.2 billion.
Based on 2021 census data, 38% of Ghana’s population consists of young people aged 15–35, 35% are children under 15, and only 4% are over 65. There is no denying that the youth of the country remain a critical resource for 21st-century nation-building and development. Goldstar Air is committed to creating value for Ghana’s youth by providing opportunities for growth and employment.
According to Eric Bannerman, Chairman and Chief Executive Officer of Goldstar Air, the airline’s operations will be guided by the seven principles of microeconomics, including fundamental concepts such as the laws of demand and supply, marginal thinking, incentives, opportunity cost, trade-offs, and efficiency. By implementing this comprehensive strategy, Ghana will leverage youth empowerment and development within the aviation sector as a powerful tool to reset the economy. The focus on skills development, career advancement, and economic impact will ensure the long-term success and sustainability of this initiative, contributing to Ghana’s overall economic growth and development.
Goldstar Air’s operations from Ghana will create a continent-wide market, encompassing 54 countries with a combined population of 1.3 billion people and a Gross Domestic Product (GDP) of $3.4 trillion. Ghana has a significant opportunity to assert itself on the global economic stage and capitalize on the potential presented by the African Continental Free Trade Area (AfCFTA), with a staggering 44 million Small and Medium-sized Enterprises (SMEs) across Africa.
The airline’s 24-hour service will operate convenient flights and offer exclusive discounts during late-night and early-morning hours to facilitate business and economic activities in Ghana. To support this, the airline will collaborate with airport authorities to ensure that essential services such as check-in, baggage handling, and security screening are available 24/7.
Unfortunate Ghana, despite being a top exporter of gold and cocoa for over 100 years, has not been able to create billionaires. The wealth generated from these exports has not translated into significant economic benefits for its citizens. Due to exporting raw gold and cocoa beans, which has less value and challenges posed by illegal mining, Ghana must shift its focus toward the aviation industry that will boost the tourism industry. Create greater awareness to position aviation as key source of foreign exchange earner for the country and ensure the equitable distribution of profits stays in the country, contributing to national development.
Goldstar Air will introduce an integrated platform to support exporters of Ghanaian goods who are registered with the Ghana Export Promotion Authority (GEPA) to market their goods worldwide. The airline will provide free advertising space on its in-flight magazine, integrated platforms, and aircraft screens during takeoff and landing to promote, publicize, and boost the visibility of their products. Additionally, these made-in-Ghana products will be sold as duty-free items on board. Exporters will be required to sign an agreement with the airline to designate Goldstar Air as their sole transporter of their goods.
The airline’s proposed partnership with Ghana Post aims to emulate the strategy of the United States Postal Service (USPS), which is the second-largest employer in the United States, with 525,469 career employees and 114,623 non-career employees as of 2023. In the most recently reported quarter, USPS generated 19.8 billion in revenue. In 2022, global parcel shipping revenue reached approximately 19.8 billion in revenue. In 2022, global parcel shipping revenue reached approximately 485 billion, with the United States contributing $198 billion of that total.
Together with Ghana Post, Goldstar Air will offer pickup and delivery services directly to about 360 Ghana Post outlets, with stop-by-stop tracking available 24 hours a day, 7 days a week, 365 days a year. The airline will prioritize Ghana Post cargo to ensure a seamless and frictionless experience, enabling businesses to focus on growth and achieve year-over-year expansion.
In 2023, according to the World Travel and Tourism Council (WTTC), the travel and tourism sector contributed 27 million new jobs, representing a 9.1% increase compared to 2022. Africa stands out as the continent with the fastest tourism growth in 2023, with international tourist arrivals reaching 96% of 2019 levels, according to UN Tourism the highest recovery percentage in the world. This translated into a total international tourist movement of 66.4 million.
Mr. Bannerman emphasized that the airline management has a long-term perspective, focusing on sustainable growth rather than short-term gains. This involves ambitious yet achievable goals, fostering a culture of innovation, and continuously adapting to changes in the aviation industry, among other strategies, to ensure Goldstar Air remains in business for centuries rather than just a decade.
Goldstar Air, the wings of Ghana and the belly of America, is committed to employee motivation and recognition as key factors in its continued growth and success. As the airline looks to the future, it remains dedicated to nurturing a high-performing and motivated workforce for a brighter and more prosperous future.
Goldstar Air’s 24-hour service will prioritize youth development and empowerment and initiate a biweekly (every two weeks) employee pay structure in Ghana. This will align with salary structures in other destinations to prevent employment discrimination and will be the first of its kind in the aviation sector in the country. The airline aims to create a more equitable company where every employee will have job security, a decent life, and the opportunity to own their dream house right after receiving a fantastic job offer from Goldstar Air.
Goldstar Air has applied to lease the Kotoka International Airport (ACC) Terminal Two (2) building, which is currently underutilized, to serve as the airline’s main hub. The airline plans to build modern passenger boarding bridges, duty-free shops, gyms, salons, offices, and other convenient, customer-centric facilities to enhance the experience of both departing and arriving passengers. This initiative will also create new job opportunities for the youth in aviation and aligns with the airline’s commitment to supporting the government’s efforts to improve all airports in Ghana.
Tamale International Airport (TML) will serve as a pivotal hub for Goldstar Air’s cargo operations, maintenance, catering and training facilities. Plans are underway to operate international passenger and cargo flights to and from the Sahel region, as well as Hajj flights. Given the increasing demand for fresh fruits and vegetables year-round, Goldstar Air will prioritize the transportation of perishable goods by air from Tamale International Airport. The airline will ensure proper packaging and handling of perishable goods, delivering them in excellent condition with shorter travel times and controlled temperatures.
Goldstar Air will acquire certification for its training school, which will cater to all aviation-related courses. The certifications will be obtained from the United States Federal Aviation Administration (FAA), the European Union Aviation Safety Agency (EASA), the Ghana Civil Aviation Authority (GCAA), the International Air Transport Association (IATA), the IATA Operational Safety Audit (IOSA), and as an Authorized Training Center. The training school will provide a wide range of aviation courses, including initial, recurrent, advanced, and specialized operations training.
The Tamale Aviation Training School will create a multicultural learning environment, attracting students from all over the world. This intercultural learning experience will equip students with the competency to work comfortably in different countries throughout their careers, including sharing the cockpit with pilots from diverse cultural backgrounds.
Wa Airport, the fifth busiest commercial airport in Ghana and home to the third-longest runway in the country, will soon see Goldstar Air initiate non-scheduled and Hajj flights to and from its location in the Upper West Region of Ghana. Operated by the Ghana Airport Company Limited, Wa Airport (WZA) serves the Upper West Region, which is located in the northwestern part of Ghana. The region is bordered by the Upper East Region to the east, the Northern Region to the south, and Burkina Faso to the west and north.
Goldstar Air is also committed to revitalizing Ho Airport (HZO) in the Volta Region. This innovative approach to development will not only attract more passengers to the airport but also stimulate high-quality economic growth in the region and across the nation. By promoting ‘Destination Volta’, Goldstar Air aims to showcase Ho Airport to the world, transforming the region into an industrial zone, a premier tourist destination, and one of the world’s most visited tourist sites.
Goldstar Air wishes to reassure the Ghanaian traveling public that the current 1,981-meter runway at Kumasi Prempeh I International Airport (KMS) is sufficient and safe for its narrow-body aircraft to operate direct flights to and from European destinations and Saudi Arabia (for Hajj Pilgrimage). This will remain the case until the runway expansion is completed, enabling the airport to accommodate wide-body aircraft for flights to and from Asia and North America.
Kumasi Prempeh I International Airport (KMS) is strategically important for the Ashanti region. Therefore, it is essential to train the youth in aviation to create job opportunities that will benefit Asanteman. The focus should not only be on opening the airport for international passengers and aircraft but also on ensuring that the local people, Kumasi Airport City, and the region as a whole benefit from the 24/7/365 auxiliary jobs around the airport. The primary reason for opening the international concourse at the airport is to generate employment for Asanteman, and Goldstar Air is the obvious choice to make this happen.
Goldstar Air has introduced Afrik Allianz, a multimodal single-air transportation alliance connecting Africa and beyond. Providing connectivity is fundamental to enhancing the customer experience when flying with us worldwide. Therefore, Goldstar Air is collaborating with other airlines to launch the Afrik Allianz and Insurance, an airline alliance designed to expand routes, share resources, and establish a seamless travel experience. This initiative will give international passengers access to multiple destinations and more convenient air travel connections.
Afrik Allianz aims to facilitate intra-regional trade and regional integration by enhancing the movement of goods, services, and people while establishing multimodal transportation networks connecting over 121 airports across Africa and beyond. To maintain lower operational costs, Afrik Allianz members will share resources and essential facilities such as lounges, terminal space, ground handling services, maintenance bases, common marketing programs, and IT systems. This approach will help reduce overall costs while ensuring a consistent level of service.
Goldstar Air is also negotiating codeshare agreements with other airlines, enabling us to offer a more extensive route network and provide customers with more travel options from all fifty (50) states in the United States of America and other continents to and from Africa. We believe this agreement will benefit our partners by increasing brand awareness and expanding market knowledge about Africa and other continents.
Goldstar Air will generate substantial annual revenue by instituting a 24-hour economy to drive the country’s growth and advancement, ultimately reducing Ghana’s unemployment rate of 14.7%. Ghana must leverage its geographical location at the center of the world to position itself as an attractive destination for investment, fostering economic growth, creating well-paying job opportunities, and contributing to national development.
In conclusion, with Ghana’s public debt reaching GHS 761.2 billion, our strong relationships with Boeing Company, the Michigan Aerospace Manufacturers Association, and incentives from Baltimore Washington International Airport (BWI), Rhode Island T.F. Green International Airport (PVD), Toronto Pearson International Airport (YYZ), Glasgow International Airport (GLA), and others make Goldstar Air the obvious economic tool to reset Ghana. Goldstar Air provides a viable solution to the cedi depreciation and serves as a critical economic tool that will bring massive relief to the country.
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