Ghana seeks more South African investors

A 25-member business delegation from Ghana led by the Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr. George Aboagye has arrived in South Africa to begin a three-week investment promotion mission in that country.

The delegation is being organized by GIPC, in collaboration with the Department of Trade and Industry (DTI), WESGRO (Western Province), Kwazulu Natal Trade and Investment and the Johannesburg Chamber of Commerce of South Africa.

Speaking to journalists in Accra before their departure, Mr. Aboagye said the objective of embarking on the mission was to promote targeted investment opportunities available in Ghana, to targeted potential investors in South Africa.

The delegation would also be exploring business opportunities for Ghanaian entrepreneurs in South Africa, and they will be touring the Western Cape, Kwazulu Natal and Gauteng Provinces.

Under the leadership of Mr. Aboagye, the delegation was expected to hold business seminars to discuss business opportunities, as well as investment regulations, processes and procedures. This will also provide an opportunity for dedicated one-on-one business meetings to further explore specific opportunities.

Other officials also on the trip are the CEO of the Ghana Free Zones Board and high ranking officials of the Minerals Commission, Ministry of Food and Agriculture and Energy, Ghana National Petroleum Corporation and private business executives engaged in energy, mining, oil & gas, agriculture and agro-processing.

Instructively, there are sixty-one (61) registered South African companies operating in Ghana. These include MTN, AngolGold Ashanti, Shoprite, Woolworth, Game, Group Five, Stanbic Bank, SABMiller, Engen and Multichoice, just to mention a few.

The companies are engaged in general trading, building and construction, manufacturing, banking, tourism and other service areas. South Africa currently is the 15th major investor country by number of projects and the 17th by value of projects registered in Ghana.

Trade between the two countries is currently heavily skewed in favour of South Africa.

Investors from Ghana have either found it challenging or have not yet explored ways of doing business in South Africa although much could be done in that direction for our mutual benefit. This imbalance is what the delegation led by GIPC in collaboration with the investment agencies in South Africa seek to address.