UK-Ghana Chamber of Commerce to launch investment tour

Accra, Sept. 5, GNA
– The United Kingdom-Ghana Chamber of Commerce (UKGCC) would host a
multi-sector business trip to Accra for British companies, investors,
exporters, importers and SMEs, from Monday, October
  17 to Friday October, 21.

A statement issued
by Mr Tony Burkson, the Chief Executive Officer of the UK-Ghana Chamber of
Commerce, and copied to the Ghana News Agency on Monday said the five-day Ghana
Investment Tour (GIT) would focus on showcasing collaborative and investment
opportunities in Ghana’s technology, tourism and agriculture sectors.

It would also
provide a platform for UK firms, SMEs and investors to communicate with key
regulators, potential local partners, and leading private sector players in the
country.

It noted that
limited spaces are currently available for UK-based delegates who could
register their interest via the UKGCC website http://ukgcc.com.gh or AB2020
http://africabusiness2020.com.

The statement said
the official launching of the UKGCC in Accra on September 1, was set up to
facilitate and promote trade and commercial relations between the UK and Ghana,
and act as the voice for British businesses looking to access and engage with
the Ghanaian market, whilst providing assistance to Ghanaian companies
investing in the UK.

“Ghana remains an
exciting prospect for British companies due to its historic trading
relationships with the UK. British expertise and innovation is highly sought
after in Ghana and the wider West Africa region,” Mr Burkson said.

“The Ghana
Investment Tour is an opportunity for British companies to meet decision
makers, regulators and potential business partners in Ghana. The UKGCC is
excited to welcome British businesses to Accra in October for the Ghana
Investment Tour,” he added.

The statement said
the UK is one of the largest foreign investors in Ghana, and a number of
British brands already operate in the West African country, including Barclays,
Standard Chartered, Vodafone, Tullow, Blue Skies, British Airways, G4S,
Prudential, GlaxoSmithKline, and Diageo.

It said Ghana is
also a favoured choice for SME’s making their first steps exporting into
Africa, with benefits such as skilled and trainable labour, immediate access to
all the Economic Community of West African States (ECOWAS) markets, and a large
consumer base with a growing middle class.

It noted that the
GIT aims to give new, business-focused entrants to Ghana a packaged opportunity
to research and act-upon their business and investment interests in the
country, alongside a friendly team of UK and Ghanaian experts and
professionals.

It said the tour is
being supported by the Development of International Trade (DIT) in Ghana
(formerly UKTI) and is organised in partnership with AB2020, a British company
that connects and highlights investors, businesses, projects and entrepreneurs
operating in Ghana, and sub-Saharan Africa.

AB2020 Creator and
UK-born Ghanaian Akosua Annobil, based in London said: “From traditional
investors and angel networks, to tech start-ups and the Africa Diaspora, we’ve
seen a healthy rise in appetite to do business in Ghana over the past year.

“However, we’ve also
found that due to misconceptions, lack of connections, and perhaps a limited
understanding of the diverse opportunities and cultures in the country, many
are unsure of how to start and where to navigate.

“As a UK-based
company with a Ghana focus we aim to ease those anxieties, which is why we’re
excited to be partnering with the UKGCC on a series of Ghana Investment Tours
for the British business community in October this year, and in to 2017,” she
added.

The statement said
Ghana is one of the largest economies within ECOWAS, and in terms of investment
is currently ranked 70th out of 189 countries in the latest World Bank’s Doing
Business Rankings, placing the country as the fifth most favourable place to
conduct business in Africa after Mauritius (28th), South Africa (43rd), Rwanda
(46th), Tunisia (60th), and the first in West Africa above countries such as
Cote d’Ivoire (147th), Togo (149th), Benin (151st), Burkina Faso (167th) and
Nigeria (170th).

It said with a
shared history and cultural links, Ghana and the UK have a strong bilateral
trade relationship, strengthened by a steady stream of ministerial and
diplomatic visits from high profile figures in recent years, including HRH
Prince Edward and Adam Afriyie, the UK Prime Minister’s Trade Envoy to Ghana.

Ghana is the UK’s
fifth largest export market in sub-Saharan Africa, with bilateral trade of
goods and services totalling £1.05 billion in 2014.

Top exports from the
UK to Ghana include road vehicles, medicinal and pharmaceutical products,
beverages, electrical machinery and appliances, specialised machinery and
petroleum products, while top imports to the UK from Ghana include cocoa,
canned fish, fruit & vegetables, petroleum products, metal scrap and
coffee.

GNA

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