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World’s Largest Two Wheel Manufacturer Partners with Trans-Sahara Industries to Set Up Plant in Ghana

Ghana is currently at a turning point and looking forward to a more advanced economy. As the Republic presses on to the next frontier of economic development, it has opened up its market to foreign investors to expand local industries.

Hero Motor Company, an India-based company headquartered in Dehli, has recently partnered with Accra-based Trans-Sahara Industries to establish a manufacturing plant in Ghana.

Hero Motor Company, widely recognised around the globe for using cutting-edge technology for the production of bicycles, electric bikes and motorcycles has retained an enviable position as the world’s largest two-wheeler manufacturer for the past 18 years.

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'Ghana Is Ready for Business' - President Akufo-Addo to Maltese Companies

The President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo, has urged Maltese companies to take advantage of the new impetus given to Ghana-Maltese relations by the reciprocal high-level visits of the last eighteen (18) months and invest in Ghana.

Addressing a Ghana-Malta Business Forum, on Tuesday 26th March 2019 at Valletta Malta, President Akufo-Addo stated that "Ghana, ladies and gentlemen, is ready for business, and I am happy that Maltese companies have already made investments to the tune of some $19 million in our country."

He told the gathering that there are several projects in Ghana in the areas of water, housing, transport, industry, manufacturing, agriculture, petroleum and gas, the exploitation of our mineral wealth of bauxite, iron ore and gold, amongst others, which are being structured to attract private sector investment and financing.

Touting the achievement of his government over the last two years, President Akufo-Addo noted that his administration spent the last two years putting in place measures to improve the fundamentals of Ghana's economy which, in recent years, had been in considerable disarray, necessitating recourse to an IMF bailout programme.

"We have been moderately successful in trying to grow the Ghanaian economy, ensuring that our economy grew from 3.6% in 2016, the lowest in two decades, to 8.5% in 2017, our first year in office, to 6% last year, and is projected to grow by 7.9% in 2019, making it one of the fastest growing economies in Africa," he said.

The President continued, "We have also now successfully completed and exited the IMF programme and have decided that, with disciplined management of our public finances, we will not have recourse, again, to a bailout programme."

Additionally, Government, he said has implemented measures which are leading Ghana and her economy into the new digital age, formalising the Ghanaian economy, reducing the cost of doing business, and facilitating interaction between businesses and their clients, particularly in a technology-driven era, where connectivity through digital services is an important element in achieving competitiveness.

The implementation of these measures, and the strengthening of Ghana's macroeconomy have meant that Ghana is, today, the leading recipient of foreign direct investment in West Africa.

"Growing investor confidence has meant that global vehicle manufacturing companies such as Volkswagen, Sinotruck, Nissan, Renault and Suzuki; major oil companies such as Aker Energy of Norway, and ExxonMobil of the United States of America; and Tech giant Google, are working towards establishing bases in Ghana," President Akufo-Addo noted.

To Maltese companies present at the meeting, the President indicated that they can choose to invest in Ghana through the Ghana Investment Promotion Centre or set up as a Free Zones enterprise.

Regardless of where the investment is, President Akufo-Addo explained that government has instituted a number of incentives for the investor, depending on the nature of the activity, or the location of the investment, all intended to help investments succeed.

The President assured that "Ghana is a country governed by the rule of law, where the separation of powers is real. We have an independent judiciary, which ensures accountable governance, and you can be assured that your investments will be protected and secure."

He was hopeful that the business forum has provided Maltese investors with the necessary environment for business networking, which will help advance economic relations between Ghana and Malta.

Source: Allafrica.com

Ghana Attracts Over US$3.5 BN FDI in 2018

Ghana has cemented its position as the most attractive destination for Foreign Direct Investment (FDI), ahead of neighbouring Nigeria, by attracting FDI commitments to the tune of well over US$ 3.5 billion in 2018.

Indeed, the actual FDI figures for the year could be considerably higher since data from the Petroleum Commission, Minerals Commission and the Ghana Free Zones Board, only covers the first three quarters of the year. It is possible that the Petroleum Commission’s figures could have risen considerably during the last quarter of 2018 due to the intensity of Aker Energy’s exploratory drilling programme during that period which indeed culminated in the announcement of the largest single oil find in the entire West African Gulf of Guinea to date, a few weeks ago.

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GIPC Leads Private Sector Business Delegation to Netherlands

The Ghana Investment Promotion Centre (GIPC) is leading a private sector business delegation on an investment promotion mission to the Netherlands scheduled to take place from 4th to 9th March 2019. 

The mission is jointly organized with the Embassy of the Kingdom of the Netherlands in Ghana with the assistance of the Netherlands Enterprise Agency (RVO) and Netherlands African Business Council (NABC) and supported by the Ghana Embassy in the Netherlands. 

The objective of the mission is to showcase investment opportunities in Ghana and pursue opportunities for bilateral trade and investments in the areas of agriculture and agro-processing, waste management, ports and logistics, and Information, Communication and Technology (ICT).

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UK to Increase Investments in Ghana - Minister For Africa

The United Kingdom’s Minister of State for Africa, Harriet Baldwin, has re-affirmed the United Kingdom government’s commitment to increase her investment in Ghana and ensure greater economic harmonisation between the two countries.

Recounting the economic gains and significant strides aimed at formalising and improving the Ghanaian economy in the last few years, Harriet Baldwin, together with some government officials and business leaders of the UK pledged to bring new investments and increase existing UK investments in Ghana.

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