More US companies to invest in Ghana

More US companies will be investing in Ghana in the coming months because of the International Monetary Fund (IMF) bailout programme the US Ambassador to Ghana, Gene Cretz has said.

The new investments will also be as a result of the signs of economic recovery, he indicated.

The companies are expected to invest in infrastructure, oil and gas, technology, and transportation.

Some investors and private companies were said to have held on to their funds because of Ghana’s economic challenges.

However, speaking to Joy Business, Mr. Cretz, says the environment is now good for US companies to double their investments in Ghana.

“We have a network of companies we are talking to, the state department is encouraging companies to come and our commercial department is very active in getting out the information that the situation in Ghana is beginning to turn and now is really the appropriate time to come here."

He says he has no doubt that there is going to be a real upsurge in the coming months in American corporate interest in Ghana.

He added that for IMF to agree on a bailout programme with Ghana means it is confident in the government and “we are hoping that that confidence in the programme will translate into confidence among international investors because whenever you get the IMF seal of approval, you’ve got pretty much the best you can get.”

Gene Cretz said he looks forward to government implementing the steps outlined in the bailout programme.

Meanwhile Technology giant, Microsoft has indicated it is looking to increase its investment in Ghana.

This will likely be in the areas of technology that will help improve the business environment and the livelihood of Ghanaians.

Vice President of Microsoft, Brad Smith told Joy Business, the technology can be used to transform the business environment and skills of young ones.

Microsoft has launched a new technology platform TizzaWorks for youth.

The platform is expected to act as a one-stop shop for the youth to develop skills for employment.

The platform will also look at look at mentorship, entrepreneurship, community building opportunities and jobs.

According to Microsoft, this platform should help the Ghanaian youth realize their potential and get skilled, land jobs and be successful in their entrepreneurship endeavours