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Business News of Thursday, 25 June 2020

Source: GNA

Bawumia and UK Minister for Africa co-host UK-Ghana Business Council Lite

Vice President Dr. Mahamudu Bawumia Vice President Dr. Mahamudu Bawumia

Vice President Dr. Mahamudu Bawumia and Mr James Duddridge, UK Minister for Africa, on Wednesday, co-hosted the UK-Ghana Business Council Lite, to discuss economic development, job, creation, trade and investment.

The meeting, which was held in a virtual mode was attended by Mr Iain Walker, the British High Commissioner to Ghana, Mr Papa Owusu-Ankomah, Ghana’s High Commissioner to the UK, and Mr Adam Afriyie, the Prime Minister’s Trade Envoy to Ghana and Guinea.

A statement issued by the British High Commission, which was copied to the Ghana News Agency, said the virtual meeting follows the success of the UK Africa Investment Summit where UK Prime Minister Boris Johnson discussed trade and investment opportunities in Ghana with President Nana Addo Dankwa Akufo-Addo.

The statement said at the virtual meeting, the UK and Ghana committed to deepening their partnership to support Ghana’s economic recovery in the wake of COVID-19.

It noted that the meeting emphasised the importance of strengthening UK-Ghana trade and economic partnership in the wake of COVID-19 and committed to support Ghana’s ambition to move beyond aid by creating jobs, boosting growth and driving its huge economic potential.

It said the UK and Ghana agreed to support businesses to come back stronger from the crisis.

Commenting on the success of the meeting Mr Walker said: “The UK stands shoulder-to-shoulder with our Ghanaian friends and partners as we respond and rebuild the economy in the wake of COVID-19.”

“Despite the pandemic, Ghana remains at the forefront of the UK’s trading relationship with African nations. UK companies have played a leading role in the COVID-19 response. Unilever, in collaboration with the UK government, today announced £100 million partnership to promote good hygiene for over 1 billion people including millions of people here in Ghana," he said.

“We are committed to the UK-Ghana partnership ensuring that Ghana remains a prosperous regional leader.”

The statement said the UK continues to invest in Ghana’s economic potential; adding that construction would soon begin on two UK Export financed hospitals in Koforidua and Kumasi.

It said funding and training has been provided to 62 agribusinesses to improve food security, and three Ghanaian companies have been supported to manufacture medicines and personal protective equipment (PPE).

It said the UKGBC was an opportunity for both Ghana and the UK to build on and discuss the achievements and ambition of the UK Africa Investment held in London in January.

It said the Summit laid the foundations for new partnerships between the UK and African nations based on trade, investment, shared values and mutual interest. Billions of pounds of new commercial deals were announced highlighting the strength of the UK’s offer and existing relationship with Africa.

It said that in Ghana the Summit led to further investment in the ‘SheTrades’ programme ensuring that female entrepreneurs can access trading opportunities.

Mr Duddridge made clear the UK’s commitment to ensuring the long-term success of Ghana despite coronavirus, announcing a further package of support for the country’s pharmaceutical industry that would see the UK investing up to £450,000 to support the sector to produce essential medical supplies and to recover in the wake of coronavirus.

He said the UK has also funded training for over 2,000 health workers, medical equipment for 326 health facilities in Ghana, and health messaging to 5.4million people.

The statement said from the beginning of the COVID-19 outbreak, the UK has worked to support the people and Government of Ghana respond to the pandemic. The British High Commissioner explained that this latest investment in Ghana’s COVID-19 response would save lives, safeguard the economy and protect the most vulnerable.