27 February 2019

Ghana: UK to Increase Investments in Ghana - - Minister for Africa

press release

The United Kingdom's (UK) Minister of State for Africa, Harriet Baldwin has affirmed her government's commitment to increase its investments in Ghana.

Addressing the second UK-Ghana Business Council (UKGBC) meetings at the Lancaster House in London she recounted the economic gains and significant strides made to formalize and improve the Ghanaian economy in the last few years.

The meeting explored new strategies and opportunities to enhance trade and investments between the two countries in several areas including agro-processing, extractives, garments/textiles, pharmaceuticals, financial sector, and cyber-security.

The UK government intends to bring investments to complete existing projects and undertake new ones such as the Kumasi Central Market phase 2, phase 2 of the Kumasi international airport, the 720-bed capacity maternity block at the Komfo Anokye Teaching Hospital in Kumasi, Amandi power projects and Volta Lake water transport projects among others.

On his part, Vice President Dr. Mahamudu Bawumia said "for us, as we prepare to position Ghana as the financial services hub in West Africa, increasing our strategic alliance with the UK is indispensable since London is the largest financial services center globally.

"We will continue to be prudent in the management of our economy, ensure inclusive economic development and provide the right environment for businesses, both local and foreign to thrive," he indicated.

"We are very happy with the UK government's positive assessment of the progress so far made in Ghana in the last few years and her resolve to increase investments in Ghana, and we are prepared to partner with you", Vice President Bawumia observed.

The goal of the UKGBC is to match as closely as possible Ghana's needs with UK expertise, financing, and private sector support.

In addition, UKGBC is tasked to explore technical assistance on standards and customs facilitation and work to identify and breakdown constraints to greater trade and investment.

The first meeting of the UKGBC was held in Ghana on October 14, last year.

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