Peace and stability, the two most important essentials every investor look out for is what Ghana is offering investors who are contemplating investing in Africa; His Excellency, Lt. Gen. Joseph Henry Smith, Ghana’s Ambassador to the United States assured Business Executives and Investors in New York on Saturday, May 21, 2016.
Ambassador Smith was speaking at a two-day summit “Bridge to Africa Economic Summit” in New York to explore Investment Avenues in Africa and bring participants up to speed with the latest trends in various industries and markets on the continent.
The summit was attended by high-profile experts and business leaders from Africa and U.S.
The event brought together investors, trade experts, entrepreneurs, manufacturers and industrialists (Small and Medium Scale) to network, market their businesses and brainstorm on the way forward.
Presentations were made by His Excellency, Lt. Gen. Joseph Henry Smith, Ghana’s Ambassador to US, Congressman Eliot Engel, Ranking member of on the House Foreign Affairs Committee, Mr. Timothy H. Marshall, President/CEO of JBRC, INC, Ms. Ruth Hassell-Thompson, New York State Senate and Mayor Richard Thomas, City of Mount Vernon, New York.
Ghana, Ambassador Smith said, for 25 years, has been stable and peaceful after seven uninterrupted elections since 1992, hence the international community’s recognition that the country is a model of democracy on the African continent.
He said the country is endowed with abundant natural resources which continue to attract the attention of global business magnates into all sectors of the Ghanaian economy.
He named a few as Gas and oil, hydropower, fruit and vegetable farming, food processing which including fish canning, production of agro chemicals, pharmaceuticals and IT.
Ambassador Smith said the government’s on-going privatization initiatives have also opened up a number of sectors for new business partnerships and investment, notably the Banking, Finance, Insurance and Tele-communication sectors.
On energy sufficiency, he said the government is determined to make Ghana the industrial hub of the West African sub-region and hinted that Ghana would be adding 5,000 megawatts to its power distribution by the end of 2017.
This, he said, would create a sub-region self-sufficient with energy and also create a political climate considered very vital for any investor looking for investment destination in Ghana.