President Nana Akufo-Addo has encouraged British investors to take advantage of Ghana’s political and economic stability and invest in the country.
Nana Akufo-Addo said the current economic conditions make Ghana an ideal place to invest.
Speaking at the opening of the Ghana-UK Investment Opportunities Summit taking place on the sidelines of the UK-Africa summit in London, President Akufo-Addo said the government has laid a strong foundation for prospective investors.
“Surely, an increase in intra-regional trade in Africa is one of the surest ways to promote the progress we seek for Africa. It should guarantee a rapid increase in exchanges of our agricultural, financial, industrial, scientific and technological products. It will enhance dramatically, our attainment of prosperity and the prospects of employment for the African peoples, particularly our youth. Our economies will then be safe, not by the production and export of raw materials but by the things we make and grow.
“Unfortunately for us in Africa, we continue to travel along the wrong path of limited success, of being producers and exporters of raw materials – a relic of our past colonial association. We are now required to think outside the box. Our thinking and approach to solving problems must be different from the thinking and approach that brought about the problems in the first place”, he said.
Ghana, UK pledge to strengthen ties of co-operation
Meanwhile, the two countries have resolved to deepen the bilateral relations that exist between them, as well as explore areas of interest which will inure to the mutual benefit of the two countries and their respective populations.
This was disclosed on Monday, January 20, 2020, when President Nana Akufo-Addo, held bilateral talks with British Prime Minister, Rt. Hon. Boris Johnson, MP, on the sidelines of the ongoing UK-Africa Investment Summit.
President Akufo-Addo expressed his appreciation to the British Government for its willingness to work with Ghana on the basis of trade and investment co-operation, and move away from the traditional aid-based relationship.
The President told his British counterpart that, over the course of the last three years, his Government has worked hard to put Ghana’s economy back on track, and has succeeded in creating a business-friendly environment that has led to Ghana becoming the largest source of foreign direct investment in West Africa.
“It is an exciting time to be in Ghana and to do business in the country. The prospects for Ghana’s, and, indeed, Africa’s development in the 21st century are immense. British participation in that development would be very welcome,” he added.