The ECOWAS Bank for Investment and Development (EBID) has called for a deepening of democracy and good governance in the West Africa sub-region to attract more investment for accelerated development.
“What we need to do is ensure that democracy is maintained. Good governance and the likes are what investors require to be able to invest in the region. If there is perception of political instability, they would not invest here because of the risks involved,” the President of EBID, Dr George Agyekum Donkor, has said.
He re-iterated the bank’s commitment to vigorously spearhead wealth creation, economic growth and industrialisation for the wellbeing of the people in the sub-region.
Dr Donkor said it had become paramount to attract the needed investment for growth and development, as well as achieve the sustainable development goals (SDGs) across West Africa.
He made the call in an interview with the Daily Graphic at the end of the second edition of the Ghana CEO Vision and Awards event in Accra.
Event
The award scheme, which was organised by a theatre and events management company, Globe Productions, seeks to reward CEOs who have played defining roles in moving their industries forward.
This year’s edition was on the theme: “The role of business leadership towards achieving the SDGs in Ghana.”
Dr Donkor was adjudged the CEO of the Year, Africa category. He received a plaque and a citation for his innovation, leadership, vision and outstanding practices that had set him apart from his competitors.
He was one of 55 business leaders to be honoured that night.
Resource constraints
Dr Donkor said that although the bank had embarked on numerous transformational projects and programmes in all ECOWAS member countries, resource constraints had become a major setback.
He also mentioned other challenges to include political upheavals in some countries within the sub-region, fallout from the Russia-Ukraine war and the increase in interest rates in the US, in an attempt to fight inflation in that country.
“We should be able to mobilise resources to advance a number of projects we have in the sub-region where the infrastructure deficit is over $6 billion,” the EBID president added.
Appreciation
Dr Donkor expressed appreciation to organisers of the event and for the honour done him and his colleagues.
The President also said he was grateful that his contribution towards driving sustainable development and economic growth in West Africa and its ripple effect on the rest of the continent had been recognised.
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