News Headlines

India Textile Manufacturers Considering Setting Up Plants in Ghana

Several India textile manufacturers are considering setting up textile production plants in Ghana.This follows a formal proposal by the Chief Executive Officer (CEO) of Ghana Export Promotion Authority (GEPA), Madam Afua Asabea Asare that it has become necessary to enable the two countries benefit from duty free access in Africa through the Africa Continental Free Trade Area (AfCFTA) agreement for products manufactured on the continent.

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Many Local Businesses Shy Away from Gov’t Incentives, Investments – Yofi Grant

The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, has lamented the lack of risk-taking among Ghanaian investors and businesses.  Speaking at the 2019 AGI Industrial Summit and Exhibition, Yoofi Grant charged local businesses to take advantage of incentives and programs the GIPC continue to offer businesses. Citing a 2018 McKenzie Report that indicates that no company in Ghana has an annual revenue of $500 million.

“McKenzie recently released a report on businesses in Africa. One of the observations is that 438 companies in Africa were generating revenues of $1 billion and more. Nigeria had 38 of those countries. Ghana had zero! Many of our local companies are shying away from various government programs and incentives being undertaken here, the foreigners are doing so, this should not happen,” he stated.

Meanwhile, Trade Minister, Alan Kyeremanteng charged business leaders and captains of industry to use recent business reforms as a catalyst for growth.

He said, “The type of incentives that you offer local industries determines how competitive they will be. Some of you can’t even memorize the incentives. You don’t know what is available to you because you focus on what you don’t have to focus on.”

The AGI Ghana Industrial summit and exhibition is on the theme, Strengthening Ghanaian Industries for Global Competitiveness. It ends on Thursday, September 12.

The conference was to create a forum for interaction and matchmaking among major oil operations such as Tullow Oil and its major contractors alongside local exhibitions and conference participants from several industries and professional bodies ranging from supply chain logistics, legal and ICT to the academia.


GIPC Delegation Ends Investment Tour in Japan

In fulfilment of its mandate to promote investment opportunities in Ghana, a 50-member delegation led by the Ghana Investment Promotion Center (GIPC) has just ended a four-day investment tour at the 7th Tokyo International Conference on African Development (TICAD 7) held in Japan.

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GIPC Woos Investors at African Green Revolution Summit

The Ghana Investment Promotion Centre (GIPC) has created a platform to explain the various investment opportunities in Ghana to potential investors attending the African Green Revolution Forum (AGRF) in Accra. 

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Local Businesses to Benefit From AfCFTA

The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr Yofi Grant has assured the local business community that the implementation of the African Continental Free Trade Area (AfCFTA) in Ghana will not threaten their business but rather create significant opportunities and make them more competitive and well positioned for the global market.

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