Ghana President seeks US investment
GOVERNMENTBy BiztechAfrica - 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
Uganda showcases new one-stop state portalThe Ugandan government is encouraging citizens to log onto Uganda’s one-stop state web portal. Read More
Malawians start mobile and web voter verificationMalawi has registered an electoral first as prospective voters in the country are now able to verify their voter registration status using mobile phones as well as a web platform. Read More
Private sector investment key to continent’s development, says KaberukaAfrican Development Bank support for private equity investment in Africa recorded a major success this week, when The Carlyle Group announced it had raised $698 million for its new Sub-Saharan Africa Fund. Read More
Ghana’s ‘big bang’ approach tackles data penetrationWith 110% voice penetration, full data penetration is the next big target in Ghana, says the NCA. Read More
Kenya unveils ICT master planKenya has launched the national Information, Communication Technology Master Plan 2017 to spur economic growth in the country. Read More
Botswana to enhance education through ThutonetLaunching the Thutonet Governance Structure, Secretary of Education Reforms, Taboka Nkhwa, said for Botswana to make any appreciable progress in its socio-economic development efforts, substantial resources should be directed at improving educational delivery. Read More
Kenya to digitally register all citizens afreshKenya plans to digitally register all citizens as part of national planning and the war against terrorism. Read More
Botswana passes electronic transaction, communications billThe Botswana Parliament has passed the Electronic Communications and Transactions Bill, which gives legal recognition to electronic transactions. Read More
Angola stimulates ICT innovation in governmentThe Angolan Government is seeking to boost the use of ICTs in public service administration and service delivery through its ‘Innovate’ programme for the public sector. Read More
FEATURED STORYKenyan shift to Green Economy would generate USD 45bn by 2030
Kenya’s transition to a green economy could produce major economic benefits equivalent to an estimated USD 45 billion by 2030, a new study shows.
BEST READ NEWS
IN DEPTHE-waste threatens Ghana’s beaches
Many beaches in Ghana, already stressed by pollution and poor maintenance, are now facing a new threat: e-waste.
COMPANY NEWSMTN makes it onto World Champions list
MTN Group has been named as the only South African company on the World Champions list.VMware Reports First Quarter 2014 Results
VMWare has announced Year-over-Year revenue growth of 14% to $1.36 Billion in its Q114 results.