Bank Rates Will Decline -VP

Vice President Aliu Mahama on Thursday, expressed optimism that bank rates would soon decline to reflect an improved economic environment.

Alhaji Mahama, who was addressing the visiting South Africa Trade and Investment delegation at a dinner, in Accra, said there were indications that inflation would shortly decrease.

"Since we took over as a government, we have implemented measures to clean up the macro economic environment and as a result, the value of the cedi has stabilised against the major international currencies."

The 45-member delegation, led by Dr Danisa Baloyi, arrived on Wednesday to explore investment opportunities in agriculture, manufacturing, banking, construction, information technology, tourism, commerce and other sectors.

Alhaji Mahama met the delegation on Thursday morning at the Castle, Osu, and urged them to form fruitful partnership with their Ghanaian counterparts.

"There is something for everyone in our beautiful country Ghana, and I am sure you will all find yours," he said.

The Vice President reiterated the government's commitment to support the private sector to flourish adding, "we are determined to make Ghana the best investment destination in the sub-region."

The delegation, made up of members of the Black Business Executive Circle, is scheduled to hold discussions with their Ghanaian counterparts during its one-week visit.

The Black Business Executives aim at transforming the South African economy into a representative one in which everybody could participates.

Dr Baloyi said the delegation was interested in long-term relationships based on truth and honesty with the view to creating wealth and jobs for mutual benefit of both countries.

"We believe that our countries have got the skills, expertise and capital," she said. "We need to interface these for the benefits to reverberate in Ghana and South Africa."

The acting South Africa High Commissioner, Madam Nokukhanya Matshikwe, expressed gratitude for the warm reception accorded the delegation. The visit is in line with President Thabo Mbeki's vision to map out a new economic path for the continent, she added.