Ghana-USA Chamber of Commerce Holds Inaugural Dinner!

……Ghana and Other West African States to Introduce Common Currency in the Sub-Region. Ghana'a Trade Representative to The U.S.A.

The Ghana-USA Chamber of Commerce (GUSACC) in Chicago organized their first annual community awareness and charitable fundraising event at the Hyatt Regency Hotel on March 22 2008. The event was co-sponsored by the World trade Center of Chicago.

The main purpose of the fundraiser dinner dance was to raise funds to sponsor humanitarian activities, establish a permanent office in Ghana, and organize community business education forums across Chicagoland, the State of Illinois and in Ghana. The Organization also seek to promote US private and government finance organizations that offer trade and investment capital for African trade and investment opportunities.

The event was chaired by Mr. Henry Hartigan, President of the World Trade Center of Illinois. The Guest Speaker was Mr. Kwame Acheampong, Ghana trade representative in USA (South Zone).

In his address, Mr. Kwame Acheampong informed the audience that , the continent of Africa is the last frontier to be engaged by American businesses but has always remained the market place for European entrepreneurs as a result of her colonial ties with Europe. “In addition, the recent deepening of the south-south relationship is increasingly attracting powerful emerging markets such as China, India and Brazil to the disadvantage of the United States. Hence, setting up clusters of the likes of Ghana-USA Chamber of Commerce across the country would foster relationship with American entrepreneurs to compete fearlessly with their aggressive counterparts of the south-south axis to dispel that new paradigm being set up by the entrepreneurs of this new order” Mr. K. Acheampong noted.

Kwame Acheampong informed the audience that Ghana provides an example of successful political and economic performance in West Africa, a region that includes a number of countries that have experienced violent conflicts. He stated “The people of Ghana have enjoyed a sustained political stability since 1992, where democratic tenets - rule of law, human rights and freedom of speech all operate freely in relatively peaceful environment.”

In conclusion Mr. Acheampong informed the audience that a new currency –ECO- would soon be the common legal tender to facilitate banking, commerce and trade in the following countries: Ghana, Nigeria, Liberia, Sierra Leone, Guinea and The Gambia. At the moment among the francophone countries, CFA still remains the major currency which would eventually join forces with the ECO to transform into one distinct currency that would later be the official currency of West Africa with a market size of 225 million people.

The President of GUSACC, Mr. Osei Kuffour explained that the Ghana USA Chamber of Commerce (GUSAAC) was formed in 2000 by business leaders and professionals with the mission to promote and foster business relationships between Ghana and the USA. Dr. George Asibey Mensah , the current Vice-President of the Ghana National Council of Metropolitan Chicago , GNC, was the first president of GUSACC.

Mr. Kuffour made the attendees aware that GUSACC is planning to promote, and administer educational, civic and social organizations that would bring together Ghanaians and American professionals with the sole purpose of familiarizing them with investment and trade opportunities in both countries.

“Since the year 2000, members of GUSACC have aimed at mobilizing business opportunities to enhance the economic development of Ghana. With dedication and a strong passion for the better future of Ghana, members of GUSACC, have created networks which are making concrete imparts in Ghana through the private and government sectors”, Mr. Kuffour observed.

The current President of GUSACC, Mr. Kuffour , recounted some of the activities of the August body since they were formed when he said that “The Ghana-USA Chamber of commerce has for the past eight years organized events such as:

1. Feeding the Homeless at the Westside of Chicago

2. Trade mission between Ghanaian and American Businesses in Chicago 2002

3. Business opportunity forum at Chicago State University

4. Sponsored award benefit forum for a Ghanaian legal scholar.

5. Partnered with Globe-Med, Health Organization organized by Medical professors and students at Northwestern University that built clinics in third World Countries in their fundraiser efforts and activities in Ghana.

6. Partnered with Ghana National Council by providing media coverage for Ghana 50th independent celebrations.”

“It is our hope that 5 years from now, the impact of this organization would be realized and enjoyed by Ghanaians and American businesses alike. Also, it would be great to look back and see what good path we have drawn for the generations to come.” Mr. Kuffour concluded.