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Business News of Tuesday, 8 October 2019

Source: www.ghanaweb.com

Take advantage of stable business environment – GEPA, Free Zones tell investors

Kate Abbeo, Deputy CEO for Free Zones Authority play videoKate Abbeo, Deputy CEO for Free Zones Authority

In a bid to find lasting solutions to Ghana’s trade deficits and welcome the AfCFTA, the Ghana Export Promotions Authority (GEPA) together with the Free Zones Authority have urged individuals and CEOs to take advantage of the relatively stable business environment in the various trade and export sectors to enhance growth.

The Deputy CEO of GEPA, Albert Kassim Diwura reiterated the need for investors particularly Ghanaian, to invest in the various sectors of the economy to strengthen them ahead of the AfCFTA agreement.

This was highlighted during the 3rd CEO breakfast meeting in Accra, Tuesday October 8, 2019 at the Marriot Hotel.

Highlighting the growth and impact his outfit has made over the past few years, Mr Kassim Diwura said, “Quite recently we supplied over 11.3 million sachets of pineapple to Akuapem farms and other places. We develop and promote Made-in-Ghana goods, we do market research and identify the market and we promote purely made in Ghana goods.”

Deputy Chief Executive, Corporate Affairs of Ghana Free Zones Authority, Kate Abbeo highlighted the several tax incentives available to encourage individuals and businesses interested in investing in the Ghanaian economy.

“…after GEPA has aided the companies and they are now of age, they come to us (Free Zones Authority) and our licensing regime is very simple. All applicants need is to provide us with a business plan…it should be accompanied by a MoU or anything to prove that there is indeed an export market…,” she said.

The 3rd CEO Breakfast Meeting forms part of the four quarterly meetings in 2019. The theme for this meeting was, ‘Promoting Trade and Export Financing to support Ghana’s Industrialization Drive.’

The platform is to create an enabling environment to GIPC to partner stakeholders in the industrial sector to solicit viable solutions on how to boost export promotion.

Ghana’s role in African Continental Free Trade Agreement

Earlier this year, Ghana was selected to be the Primary Secretariat selected to host the African Continental Free Trade Area (AfCFTA).

The AfCFTA, which is expected to be set up in Accra by the year 2020, is a duty-free single market with a free quota covering the entire African continent with a population of 1.2 billion and a combined Gross Domestic Product (GDP) of almost US$3 trillion.

Fifty-four out of the 55 African countries have signed on to the treaty and 27 countries have rectified the trade agreement.

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