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Business News of Tuesday, 22 February 2022


Oquaye woos Ghana’s rich to show interest in Free Zones Scheme, AfCFTA

Mike Oquaye Jnr, CEO of GFZA Mike Oquaye Jnr, CEO of GFZA

The Chief Executive Officer of the Ghana Free Zones Authority (GFZA) Mike Oquaye Jnr has said “the business of Ghana Must be driven and led by Ghanaians”.

Mr Oquaye said this to kick off his interaction with the President and Members of the East Legon Executive Business and Fitness Club.

The interaction forms part of the GFZA’s drive to consolidate and grow local interest and participation in the Free Zones Scheme and also to encourage businesses to take advantage of the Africa Continental Free Trade Area (AfCFTA).

The informal business interaction saw Mr Oquaye talking through the need for Ghanaian investors and entrepreneurs like the members of the East Legon Executive club to take advantage of the scheme, in line with the Authority’s vision to assist Ghanaian businesses to “achieve more exports, beyond the horizon - into Africa and the rest of the world”.

Mr Oquaye informed the group that contrary to the perception that the Free Zones Scheme is an area fully dominated by foreign companies, available figures show; 31 per cent of businesses are wholly owned by Ghanaians, 33 per cent jointly owned by Ghanaian and foreign interest, and 36 per cent wholly foreign owned.

“More Ghanaians must get on board to create more wealth and jobs locally, in line with the vision of Ghana Beyond Aid - as espoused by President Akufo-Addo,” he added.

Members of the club took turns to ask questions touching on how to secure a license, challenges with exports into West Africa, the need for government to support businesses to penetrate other countries among others.

The interaction formed part of the “Ghanaian Entrepreneurs for Export” programme.

The “Ghanaian Entrepreneurs for Export” drive is a roadshow that will see the leadership of the GFZA personalizing its interaction with potential investors, associations and business groupings.