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
Senegal govt, AfDB to build US$120 million digital parkThe Senegalese government and the African Development Bank (AfDB) will join forces to put aside about US$20 million and US$100 million, respectively, to build a mega-digital park in the city of Diamniadio. Read More
Govt confirms NATCOM’s $252m Nitel/Mtel purchaseThe Federal Government of Nigeria has confirmed the sale of former state-run but now moribund telco, the Nigerian Telecommunication (Nitel) and its mobile arm, Mtel to NATCOM Consortium for $252 million. Read More
Angola takes science and technology roadshow to schoolsAngola’s Minister of Science and Technology has hailed a programme carried out this year to increase school learners’ understanding of science, technology and innovation. Read More
Senegal to issue smart ID, voter’s cardsThe government of Senegal is planning to issue new smart ID documents and voter’s cards, a project it said will strengthen the administration and fight identity theft. Read More
MTN, Orange, Cameroon govt launch Mobile Tax serviceThe Cameroonian government has launched a new tax service called Mobile Tax, in association with mobile operators MTN and Orange. Read More
BTCL IPO date reset againThe embattled BTCL IPO launch date has not seen the last of its changes yet. Read More
Botswana tops Africa Prosperity ReportBotswana tops the 2014 Africa Prosperity Report, as the continent enjoys unprecedented economic upturn, but Africa faces new challenges in gender gap and personal freedom. Read More
Mali Digital Plan 2020 to reorganise economyThe coordinator of Mali’s proposed ICT development strategy believes digital technologies have the potential to revolutionise people’s lifestyle and working relationships, boost culture and improve education, among others. Read More
Nigeria lures broadband investors with incentivesNigeria has highlighted opportunities and incentives for would-be investors, on the sidelines of ITU Telecom World. Read More
Senegal, World Bank launch mobile survey on living conditionsA household survey called A l’écoute du Sénégal ("Listening to Senegal") was launched late last week in this West African nation by the Senegalese government in association with the World Bank. Read More
FEATURED STORYPWC: Optimism abounds but a bumpy journey ahead for some
PwC’s ‘Capital Projects & infrastructure in East Africa, Southern Africa and West Africa,’ report says infrastructure spend in the region is projected to reach $180bn per annum by 2025.
BEST READ NEWS
IN DEPTHAfrica lags on digital migration
Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.