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
Rwanda’s Minister of Youth and ICT addresses ITU Plenipotentiary ConferenceRwanda’s Minister of Youth and ICT, Jean Philbert Nsengimana, today addressed the 19th International Telecommunication Union plenipotentiary conference in South Korea. Read More
UNDP donates ICT equipment for DRC electionsThe United Nations Development Programme (UNDP) has donated ICT equipment to the National Independent Electoral Commission (CENI) of the Democratic Republic of Congo (DRC) to support the electoral process in this war-hit Central African nation. Read More
Ghana govt to appoint interconnect clearing houseGhana’s Minister of Communication has hinted at the government’s intention of appointing a company to take charge of the country’s interconnect clearing house by the end of this year. Read More
IPO not foreigner-friendlyThe CEO of BTCL, Paul Taylor, has allayed fears that foreigners resident in Botswana will snap up shares reserved for locals when his organisation starts the Initial Public Offering in November. Read More
Congo Brazzaville’s bid to switch to e-agricultureThe Central African nation of Congo-Brazzaville has 10 million hectares of arable land, but has so far used only 2% of that land. Analysts believe that the country could 'move mountains' and eradicate hunger with the use of ICTs in improving agriculture. Read More
Malawi Agriculture transport system automatedIn partnership with Techno Brain, Malawi’s Agriculture Ministry has launched the first Automated Fleet Management Information System in public service in Malawi. Read More
Telecom Namibia starts work on govt fibre networkTelecom Namibia Managing Director Frans Ndoroma says the national telecommunications services provider has started constructing a fibre-based network to connect the central government to the administrative capitals of all 14 regions in the country. Read More
NCC slams indigenous firms over incompetenceThe Nigerian Communications Commission has slammed indigenous operators in the industry over ‘incompetence and culture of impunity’. Read More
Malawi explores initiatives for rural mobile roll-outThe Government of Malawi is exploring ways and means to reach out to the far-flung areas with mobile phone service communication in line with the country’s revised Communications Act. Read More
FEATURED STORYGrowing African focus on data security
Beachhead Solutions’ new SA and Mauritius country manager explains the challenges and solutions around securing customer data and compliance with new personal information legislation.
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.
COMPANY NEWSVMware reports third quarter 2014 results
VMware, the global leader in virtualization and cloud infrastructure, today announced Year-over-Year Revenue Growth of 18% to $1.52 Billion in its financial results for the third quarter ...CNN, MultiChoice name top African Journalist 2014
Kenyan journalist Joseph Mathenge has been awarded the top prize at this year’s CNN MultiChoice African Journalist 2014 Awards Ceremony.