Ghana for the past three days has sent a strong signal to potential investors in the United Kingdom and the entire global community as a preferred destination of accessing the African common market coupled with political stability for their business operations.
This was disclosed by His Excellency President Nana Addo Dankwa Akufo-Addo during his keynote address at the second Ghana Investment and Opportunity Summit (GHIOS) which was held from 21st to 22nd January 2020 at the prestigious London Hilton Hotel on Park Lane.
The theme for the Summit was “Accessing the African Common Market through Ghana: Technology, Digitisation and industrialisation”.
The Summit attracted more than 500 delegates drawn from both Ghana and the United Kingdom Government officials, captains of industries from both corporate Ghana and the UK, international investor community, venture capitalist, private equity fund managers, the fintech industry as well as global firms.
In his keynote address, the President urged African nations to shed the colonial relic that had witnessed the production and export of only raw materials to its bane and instead, focus on a more productive solution based on massive industrialisation to transform our economies and be part of the global value chain.
The President further mentioned that governments on the African continent must deepen their efforts in building business-friendly environment and promote access to long term capital which keeps the wheels of businesses moving, to create the needed jobs. The President underscored the need for African governments to maintain strong and sustainable economies, adhere to the rule of law and provide fair and equitable social systems in health and education delivery.
The UK Minister for Investment, Graham Stuart, MP, on behalf of the UK government re-echoed the fact that the UK sees Ghana as a strategic partner in Africa and added that bilateral trade increased by 20% in 2019 reaching £1.4 billion which signals a massive potential for commerce between the two countries.
The Minister for Investment of UK delivering his address
The Ghana High Commissioner to UK and Republic of Ireland in his welcome address urged the UK to redouble its partnerships with Africa especially Ghana in the areas where the UK is recognised as world leaders.
The summit sought to leverage on the gains that Ghana has made as a major investment hub in Africa and build appropriate linkages to be part of the international supply chain. Other speakers included Hon.Shirley Ayorkor Botchwey, MP, Hon. Ken Ofori-Atta, Minister for Finance, Hon.Alan Kyerematen, Minister for Trade & Industry, Minister for Railways, Hon. Joe Ghartey (MP), Hon.Ursula Owusu-Ekruful, Minister for Communications, Hon. Kwadwo Oppong Nkrumah (MP), Minister of Information, Minister of Food and Agriculture, Hon. Dr. Owusu Afriyie Akoto, the Governor of Bank of Ghana, CEOs of COCOBOD, GIPC, Ghana Export Promotion Authority, Ghana EXIM Bank, President of Ghana National Chamber of Commerce & Industries, and other notable agencies.
The President looking on as EXIM Bank sign an agreement with Credit Suisse
During the Summit, the President witnessed the signing of an MOU between Ghana EXIM Bank and Credit Suisse of a facility worth US$100million.