Business News of Thursday, 27 September 2018
The UK Prime Minister’s Trade Envoy to Ghana, Adam Afriyie, visited Ghana last week to promote UK-Ghana bilateral trade relations with a focus on the forthcoming UK-Ghana Investment Summit.
The Trade Envoy was in Ghana to highlight the world-class offer from UK companies that can partner with Ghana to help realise the President’s vision of moving ‘Beyond Aid’.
Adam Afriyie said: “I am happy to be back in Ghana for the second time this year. More than ever, the UK and Ghana are stronger trading partners. One example of such partnership is the UK-Ghana Investment Summit which will seek to bring potential investors including UK companies to Ghana and showcase investment opportunities in the country with the aim of boosting trade and investment”.
“The UK-Ghana Business Council is another great initiative for both countries to work together for mutual economic benefit. This strategic partnership will allow the UK to set out an incredible offer to support Ghana move ‘Beyond Aid’ through collaborations and partnerships”.
Whilst in Ghana, Adam Afriyie met with the Vice President of Ghana Dr. Alhaji Mahamudu Bawumia and several Ministers to discuss the proposed UK-Ghana Investment Summit on 15-17 October 2018 and the new UK-Ghana Business Council.
He also raised awareness on a number of British projects in the country with the Government. This follows the Prime Minister’s visit to Africa in August, which signaled a step change in UK engagement with African partners and an ambitious plan for the UK to become the largest G7 investor in Africa.
Adam Afriyie also witnessed the announcement of a joint venture between Baird & Co. and Precious Minerals Marketing Company (PMMC) for the establishment of an assaying plant in Ghana’s International Airport zone. It is the first for the region and increases Ghana’s revenue from its gold industry.
Ghana is well placed to be at the forefront of this new focus on Africa. Ghana is a key market for the UK – it is the UK’s fifth largest export market and seventh largest import market in sub-Saharan Africa.
Adam Afriyie will be encouraging more UK businesses to invest in Ghana in line with the Government’s ambitious plans for economic transformation such as the One District One Factory (1D1F) initiative and promoting Ghana as a choice destination for UK exports and investments to strengthen current bilateral ties.
The UK Ghana Investment Summit is an event created by the UKGCC to promote Ghana as an investment destination for British companies and investors. The first event took place on the 22nd of July 2017 in the UK and was attended by over 250 senior business professionals and leaders, followed by the second UK Ghana Investment Summit hosted on 17th of April 2018 in London.
This event brought together leading thinkers and decision-makers from different sectors and industries across both Ghana and the UK. The President of Ghana, Nana Addo Dankwa Akufo-Addo gave the keynote address followed by in-depth interviews with several Ministers of State and business leaders.
Off the back of two successful summits, the UKGCC is preparing to host its 3rd Investor focused summit in Accra, Ghana on 15th of October 2018. This investment will provide a platform to further merge new opportunities which have opened up both in Ghana and the UK for enhanced trade investments.