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General News of Tuesday, 8 October 2002

Source: Information Department, Ghana Embassy, Washington DC

Wharton Club Of Washington, Dc Visit Embassy.

Some Alumni of the Wharton School of Business of the University of Pennsylvania have visited the Ghana Embassy to learn more about the country and its investment climate. The Washington, DC alumni, Wharton Club of Washington DC, were made up of chief executives of companies, accountants and other professionals.

Welcoming them, Ambassador Alan Kyerematen expressed his delight of hosting a galaxy of professionals who graduated from one of the world’s leading business schools.

He told them that in understanding Ghana, Africa ought to be the starting point. He said business in Africa keeps recording the biggest profits for many international companies around the world but surprisingly many of the good things coming out of such interaction never get heightened.

He pointed out that the level of investment between Africa and Europe now stands at 45 billion dollars. This gap he suggested, presented a growing opportunity for the United States to enter into Africa with a high level of technology to promote economic and technological growth.

The Ambassador argued before his attentive audience that when the United States started doing business with Asia, the level of infrastructure there were so low indeed worst then it is in Africa now. He asked aloud- why are the investments not coming to Africa? It could be, he later threw a possibility, that the United States’ market maybe too big that businessmen may not want to go outside of it but still there are other markets exclusive to Africa, he argued.

The assets to Africa for which Ghana is the gateway, he said, were real values-democratic governance, stability and the will to succeed. Ghana has always been the leader in Africa and a star pupil in liberalized economics as attested to by multinational and financial institutions.

The alumni who expressed their appreciation to the Ambassador and his staff later watched a documentary produced by the Ghana Investment Promotion Centre. They were also introduced to Ghanaian crusine. Source: Information Department, Ghana Embassy.