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29.03.2007 General News

Investment opportunities abound in Africa

By Samuel COLEMAN

A Chief Economist at the Ministry of Finance, Mr. Donkor says there are countless investment opportunities in Africa especially West Africa. He has therefore suggested that countries in the sub region come together to explore and improve on existing business opportunities so that foreign investors can venture into them.

He was speaking on behalf of the Finance Minister at a forum organized by the British West African Forum (BWA) for Trade and Business Partnership in alliance with Credit Reference Bureau Ghana Limited (CRB) and CBS credit (UK) Limited.

The international workshop was on the theme “preparing to locate business partners in UK, Europe, America and Asia.”

Mr. Donkor urged participants at the forum to stimulate business friendship among themselves to help grow the economy, adding that there are enough policy reforms to help investors make their investments worthwhile.

He described the relationship between West Africa as a whole and the United Kingdom as one that dates back to the colonial period. He also advised foreigners that a lot has been done in Ghana to help them engage in good business.

The Chief Economics Officer mentioned the Ghana Investment Promotion Council (GIPC) Act which provides guarantees for all profits and dividends made by investors to be taken out without any worry.

On behalf of the Finance Minister, Mr. Donkor asked the BWA to urge foreign businesses and investors to come into West Africa because Ghana and Nigeria which are the leading & peaceful countries in the sub region have the needed infrastructure, communication and most of all are fast growing financial hubs.

The opening of the West African Gas Pipeline Project, he said “will help greatly to facilitate projects and businesses coming up in the West-African zone.”

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