French business delegation visits Ghana

A French business delegation made up of 27 companies are in Ghana to explore business opportunities in the country.

The delegation, which would be in the country for two days, is led by Mr Patrick Lucas, Chairman of the MEDEF International, representing the French Business Confederation.

They would also be studying the most important sectors in the country relevant for development.

Addressing Journalists in Accra, Mr Lucas said the visit was the continuation of a series of meetings between the French private sector representatives and their Ghanaian counterparts, as well as with Ghanaian authorities, in recent years.

He said despite the short term economic challenges confronting Ghana, the French business community is very confident in the future prospects of the economy.

He said areas such as energy, infrastructural development and many other sectors would be explored by the business delegation for investment.

Mr Lucas commended government for initiating the Public Private Partnership policy, saying that it is the best way to develop.

Mr Frederick Clavier, the French Ambassador, said Ghana is one of the best destinations for business in the sub region and there is currently a 500 million dollar stock of French investment while bilateral trade between the countries amounted to 1.2 billion dollars.

He also described France as one of the best business partners that Ghana could have, especially when it had a good network in most of the West African countries.

He said even though there are many French companies currently doing business in Ghana, there is the need for more business partnerships between the two countries for the benefit of all.

Nana Osei Bonsu, Chief Executive Officer (CEO) of Private Enterprise Federation, Ghana, said the proximity of Ghana to the European market as well as the availability of skilled labour makes it the best destination for business.

He said, apart from the energy and agric sectors, others such as extractive and finance also had a lot of untapped opportunities which investors could take advantage of.

He said the insurance sector for instance had just two per cent penetration and the remaining 98 per cent is still untapped.

He expressed the hope that the partnerships between the two countries would lead to the transfer of technology to the Ghanaian counterparts.

Mr Seth Twum Akwaboah, CEO of the Association of Ghana Industries, said members of the Association are ready to welcome any form of partnerships with the French business delegation.