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Business News of Tuesday, 16 July 2019

Source: Class FM

GH-UK business partnership a must – Owusu-Ankomah

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Ghana’s High Commissioner to the UK and the Republic of Ireland, Papa Owusu-Ankomah has called for a partnership between UK businesses and Ghana’s private sector at a time when the UK seeks to expand its manufacturing base within the sub-region.

The High Commissioner made the call when he hosted members of the Association of Ghana Industries to a business roundtable held at the Ghana High Commission in London.

The business mission was at the invitation of the Commonwealth Chamber of Commerce in Birmingham and sought to initiate mutual co-operation between the two industrial entities with the objective to enhance and promote bilateral trade and investment cooperation.

The discussion, which was organised by the mission in collaboration with the Association of Ghana Industries and Department for International Trade, Accra, brought together business executives, fund managers, bankers, lawyers, potential investors as well as transactional advisors.

In his address, the High Commissioner intimated that Ghana's economic success story is not a fluke but has been strongly re-echoed by the latest International Monetary Fund (IMF) report which rates Ghana as the fastest growing economy with an estimated 8.8% GDP growth this year.

According to the High Commissioner, the IMF attributes this projection to Ghana’s improved macroeconomic performance for the last two years and the strong economic growth in 2018.

Mr Owusu-Ankomah also stated that the focus of President Nana Addo Dankwa Akufo-Addo’s government is on building a vibrant and sustainable economy driven by the private sector and urged UK businesses to actively engage their Ghanaian counterparts with a view to building strong and smart partnerships for mutual benefit.

In her brief presentation, the Commonwealth Development Corporation (CDC) Coverage Director for Africa, Happy Girl-Buthelezi, pointed out that the CDC Group is focused on increasing its investment portfolio in Africa.

She called on the CEOs and their businesses to engage the services of transactional advisors where necessary, in their quest to seek long-term financing from the Group.

President of the Association of Ghana Industries, Dr Adu Gyamfi, emphasised that the private sector is well-positioned to partner UK businesses, especially in the areas of pharmaceuticals, construction and agro-processing for a win-win situation.

Other speakers at the meeting included Minister/Head of Chancery, Matilda Alomatu; Minister Counsellor/Trade & Investment at the Ghana High Commission, Osei-Agyeman; Selorm Dake of the Department for International Trade, Accra; and the CEO of the UK Ghana Chamber of Commerce, Nana Adjoba Kyiamah.

Also present were officials of the Ghana High Commission in the UK.

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