Ghana President seeks US investment
GOVERNMENT| May 2, 2012, 10:42 a.m.
The Business Council for International Understanding (BCIU), a White House initiative founded by President Dwight D. Eisenhower for senior business executives to interact with heads of state/government, cabinet ministers and senior government officials, today announced the successful completion of a forum in New York City with His Excellency John Evans Atta Mills, President of The Republic of Ghana, and 25 business leaders from across the world.
Sponsored by United States Pharmacopeia and Eni S.p.A., the BCIU forum provided a platform for President Mills to outline the strategic opportunities for investment in Ghana while also addressing the fundamental economic pillars fueling Ghana's fast growing economy. Business participants similarly outlined strategic opportunities for their companies and industries, while also engaging in a dialogue with the President on investment opportunities.
"We as a government are committed to creating the necessary environment to ensure that investors have good returns on their investments," said President Mills at the forum. "Now that Ghana's economy has been described as the fastest growing economy in the world, and at a time oil has been struck, let me be quick to say that it is our determination to ensure that this God-given resource becomes a blessing and not a curse. We want to make sure that you have a credible judicial system, you have the kind of labor which will respond to the needs of the business, that you have a system which will respond to the very needs of investors."
President Mills affirmed Ghana's commitment to democracy, the rule of law, and respect for the judicial system, outlining their significance in fostering economic growth, return on investment and job creation.
"We appreciated the President's unscripted fluency on economic priorities for Ghana and his comfort level in speaking directly and frankly with our members and international investors," said Peter Tichansky, President and CEO of BCIU. "The interest in accessing Ghanaian market across major industries – and Africa through the Ghanaian gateway – were consistent themes expressed by businesses attending the forum."
As a result of this and a previous visit by the President with the business community in New York, BCIU today announced it is organizing a trade mission to Ghana later in the year with member companies interested in further exploration of opportunities.
"We believe Ghana offers terrific opportunities for growth and business development," said Ed DiSanto, General Counsel and Chief Administrative Officer, American Tower. "As such, in December 2010 we entered into a joint venture with Africa's largest mobile operator, MTN Group Limited (MTN) and launched our operations in Ghana. TowerCo Ghana currently owns and operates nearly 1,900 wireless communication tower sites and plans to develop several hundred new towers over the next several years. We are pleased with the performance of our investment, and our team of 84 Ghanaians, and indirectly hundreds of others via our vendor relationships, are doing a great job."
"Not only are international firms interested in Ghana, but Ghanaian entrepreneurs are also investing heavily," said Humphrey Ayim – Darke, Chairman, Greater Accra Chapter, Association of Ghana Industries. "We are rapidly building our own companies, expertise and resources to serve our fast growing markets and taking advantage of our well-educated, hard working and expanding middle class. We were delighted to participate in this strategic dialogue with international investors and are eager to make it clear that U.S. companies can find outstanding local partners in Ghana."
MORE GOVERNMENT NEWS
N780b fine: MTN must pay before out-of-court settlementMTN Nigeria must pay substantial part of the N780billion fine imposed on it for SIM registration infraction before contemplating out-of-court settlement, ComTech Minister, Adebayo Shittu has insisted. Read More
Kenya, Uganda collaborate on electronic cargo trackingThe Kenya Revenue Authority (KRA) and the Uganda Revenue Authority have signed an MOU on the establishment of an Electronic Cargo Tracking System (ECTS). Read More
Cashless Africa 'achievable through partnerships'The Alliance for Financial Inclusion (AFI) has renewed its partnership with MasterCard at the African Mobile Phone Financial Services Policy Initiative (AMPI) meeting. Read More
ICT CS launches free Internet for Schools programme in Machakos CountyKenya’s ICT Cabinet Secretary Joe Mucheru has lauded Airtel for its commitment to support e-learning in Schools by providing free internet connections to schools in Kenya through the company’s Free Internet for Schools programme. Read More
BITC launches online trade portalAs part of efforts to improve trade facilitation, the Botswana government, through the Botswana Investment and Trade Centre (BITC), has launched a web-based platform designed to help improve the ease of doing business. Read More
Ghana MPs struggle with digitised chamberGhana’s parliament almost came to a standstill earlier this week, when members of parliament battled to make use of new digitised desks installed in the chamber. Read More
Over 10,000 applications for BTCL sharesBatswana have come out in record numbers to submit their Offers for BTCL shares, with around 1,000 applications per day at Barclays Bank branches across Botswana. Read More
KRA announces key Customs reformsThe Kenya Revenue Authority (KRA) has announced a variety of reform measures geared at enhancing national security and efficiency in Customs management. Read More
N780b fine: MTN opts for out-of-court-settlement with NCCMTN Nigeria has asked for an out-of-court settlement in the suit it filed against the Nigeria Communications Commission (NCC). Read More
FEATURED STORYViber Spreads Good Vibes in Africa with the introduction of public chats
Viber, one of the leading messaging and calling apps with more than 664 million unique users worldwide, has opened its latest social channel ‘Public Chats’ to partners in Africa and the Middle East.
BEST READ NEWS
IN DEPTHPoised for greater heights – Roshi Motman, AfricaCom CEO of the Year Winner
Roshi Motman is not your average CEO. Since taking up the reins as the first female CEO of Tigo Ghana in 2014, she has led the Tigo brand through a remarkable transformation.
COMPANY NEWSArbor Networks maintains leadership in IHS Infonetics Report on DDoS prevention appliances
Arbor Networks was identified once again as the top supplier of DDoS mitigation appliances overall, as well as in the Carrier, Enterprise and Mobile market segments, according ...