Ghana: Vice President Assures Investors of Robust Economy

The Vice President of Ghana, H.E John Dramani Maham has assured the investor community, both domestic and international that, the government will endeavour to sustain the stable macroeconomic conditions in the country.

According to him, even though this is an election year in Ghana, the government will continue to manage the macroeconomic variables for the enhancement of business operations.

Dr. Mahama gave the assurance at the opening of this year's African Investment Forum in Accra, this morning.

He told the well-attended Forum, made up of investors, business leaders and senior officials across Africa that: "Ghana will continue to remain stable and democratic after the elections. Prospective investors therefore need not adopt a wait and see attitude before making any investments in Ghana and for that matter in ECOWAS".

Dr. Mahama was quick to disclose that: "We are also determined to reform the public services to improve its efficiency and increase our attractiveness as a destination for business".

To encourage private sector participation in the development of the country's economy, the government is currently promoting public private partnerships which are key to the delivery of infrastructure and services by leveraging of public assets and funds with private sector resources from local and international markets.

He noted that one sector the sub-region has comparative advantage is agriculture and agribusiness adding that, "the development of agric to sustainable levels can provide jobs for the youth, create wealth, reduce poverty through improved incomes and enhance the quality of life of our rural populations the majority of whom are in the agric sector".

Currently, the Ministry of Food and Agriculture (MoFA) in collaboration with the World Bank and United States Agency for International Development (USAID) has prepared the Ghana Commercial Agric Project which seeks to improve access to land, private sector finance, a clearing house for small-holder farms in the Accra Plains and targeted areas of the Savannah

Accelerated Development Authority (SADA) zone

The project aims at increasing farm productivity and value addition in selected value chains, the Vice President told the investors. The project has a total cost of $145million of which $100million is being provided by the World Bank, and the remainder from the USAID.

As government, we believe these policies will eventually create new opportunities and avenues for both domestic and international investors whilst providing the much needed jobs for the youth, Dr. Mahama indicated.

The two-day Forum is being organized by the Ghana Investment Promotion Centre (GIPC), the Commonwealth Business Council and the ECOWAS Commission with the theme 'Partnering with ECOWAS to Accelerate investments in the Sub-region'.

Touching on the theme, he noted that the image of Africa as a destination for investment was being positively transformed as the number of emerging market funds with interest in Africa continue to grow.

A major catalyst towards the trend has been the progress being made towards regional interaction to create larger markets, enhance competitiveness and improve infrastructure.

The Director General of the Commonwealth Business Council, Sir Alan Collins used the Forum to appeal to the African continent to take advantage of the upcoming London Olympics tournament to do business with the rest of the world.

The Board Chairman of the Ghana Investment Promotion Centre (GIPC), Mr Ishmael Yamson told the investors that the successfully elections in Senegal and continuous democracy in Ghana attested that Africa is ready for investments.

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