In a first of many forums across Canada to come, the Ghana High Commission in Ottawa in collaboration with the Toronto-based The Canada Africa Business Council Incorporated staged an investment forum about Ghana’s investment potential on May 15 at Toronto’s Rosewater Supper Club.
An investment forum for Canadian investors and businesses about Ghana’s investment climate and policies today, the round-table was billed “Ghana: Gate Way to West Africa,” and saw prominent Canadian business personalities such as Al Wahba, vice president of Ontario Exports Inc.’s International Market, Cindy Lapp, Desk Officer-Africa, Industry Canada/International Trade Centre and Ruth Forthergill, vice president corporate development, Export Development Canada (EDC) in attendance.
Ghana’s High Commission to Canada, Hon. Samuel Odoi-Sykes, in a speech and video presentation, gave a brief history of Ghana’s tortuous political history and her experiment with various economic and development paradigms over her 46-year existence and why Ghana has come to the unwavering conclusion that the free-market enterprise and multiparty democracy are good for her.
Mr. Odoi-Sykes told his attentive listeners that the ruling National Patriotic Party (NPP), born out of the struggles of multiparty democracy, free market and private capital acquisition values over the past 50 years, sees the private sector as the key engine of the Ghanaian economy. He said, this is seen, among others, in the government’s “Joint-Venture Search” which directs and list private investment projects and information for potential foreign partners via the Ghana Investment Promotion Centre.
A 15-minute video of Ghana’s investment environment, including today’s policies, was shown. In the video foreign industry captains operating in Ghana spoke about why they choose to set up businesses in Ghana. Business owners from Akosombo Textiles, the steel and timber industries, among others, spoke about the sound investment climate in Ghana compared with other countries. CDs prepared by the Ghana High Commission highlight a profile of Ghana, detailing activities of the Ghana’s Investment Promotion Centre was given to the participants.
On the CD one could read Ghana’s Visa Regulations; Practical Guide to Land Acquisition in Ghana; Investment Incentives, Benefits and Guarantees; Investment Environment; Setting up Business in Ghana; Financial Institutions in Ghana; and the Cost of doing Business in Ghana. Accra has also created the Ghana Free Zones Board to advise foreign companies how they can set up business in Ghana sorely for export as China is doing to create employment and skill acquisition.
Mr. Joseph Kobina Annan, the Ghanaian-born president and CEO of the Canada Africa Business Council Inc., who gave updates of his council, said, his body aims to bridge the trade gap between Africa and Canada.
Mr. Charles Agyei-Amoama, the deputy Ghana High Commissioner to Canada, who planned and organized the investment forum and is responsible for trade matters at the mission, said the Toronto Ghana investment forum is the first of series that is be staged Canada-wide in the coming months.
PIC: Deputy Ghana High Commissioner to Canada, Charles Agyei-Amoama, left, with High Commissioner, Samuel Odio-Sykes, explaining a poit to a Canadian investor.
