Nigeria Holds Forum On Ghana

Ghana could become a hot spot for investors from Nigeria and other West African countries in the next couple of years. This is the likely outcome of a forum on Ghana planned for Abuja in November this year.

West Africa International is organising the forum in collaboration with West African Chamber of Commerce (FWACC).

The forum is the third in a series, titled "African Leadership in Enterprise Conference 2001". The second edition, which was held last year emphasised the effects of Civil War on Africa's Economic Development, while this year's edition puts the spotlight on Ghana. The reason for focusing on Ghana is very clear. In a region submerged in civil wars and military coups for nearly a decade, Ghana offers a glimmer of hope, after last year's peaceful transition from one democratically elected government to another.

The theme for the forum is "Investment Opportunities in Ghana". It would among other aims bring officials of the Ministry of Trade of Ghana and the Chamber of Commerce and their Nigerian counterparts to a single forum to deliberate on the investment climate in Ghana and the generous investment opportunities open to the world.

The Business Times of August 27 quoted the organisers of the forum, as saying that at the end of the meeting Nigerian investors and others who wish to do business in Ghana would be provided with the necessary information to enable them to make investment decisions.

Some Nigerian investors are already doing some form of business in Ghana, though not in an organised manner. Perhaps the only Nigerian company doing business in Ghana is Unipetrol, an oil distributing company, which is rubbing shoulders with Shell, Mobil and Total.

Since the Kufuor administration assumed office eight months ago, foreign investors have showed renewed interest in doing business in Ghana because it has a stable economy. The Ghana Investment Promotion Centre (GIPC) last month reported increases in the number of investments in the first two quarters of the year. It is hoped that the Nigeria forum would open the way for more genuine investors to come to the country. An influx of the notorious 419 phony business gangs from Nigeria can also be expected.