Berhard Abels (right) with Rev Kennedy Okosun (left), Pastor In-charge of Action Chapel, Airport Branch
Deputy Head of Mission of the German Embassy in Ghana, Berhard Abels says Ghana’s local content legislation is an impediment for foreign investors.
According to him, even though the law protects Ghanaian interest, it scares away foreign investors.
Mr Abels, who made this known at Entrepreneurs’ Breakfast Meeting organized by Airport Residential branch of Action Chapel at Best Western Premier Hotel, said “I have to say that the local content legislation is rather an impediment for more business between Ghana and Germany.
“I fully understand the Ghanaian interest to have Ghanaians exercise control over their economy. However, this should not be done in a way that scares away foreign investors.
He said, “When we watch international news, it sometimes appears as if there is only doom and gloom in front of us. Some people say that the future will be bleak.
“This is not true. Ghana has a bright future. It is stable and democratic country, a beacon of hope for Africa.”
Mr Abels said the German government is keen to improve business conditions so that Ghanaian and Germany businesses could thrive.
“The German Embassy plays a key role in this work. It is our task to improve Ghanaian-German relations in all fields.
He wondered why trade between Ghana and Germany had not reached the maximum level.
“Perhaps it’s because of a certain bad reputation of West Africa as a place with difficult business conditions.
“After all, even a lower middle-income country like Ghana, with its well-developed democratic tradition, its pool of well trained workers and its decent infrastructure poses challenges for foreign investors and traders.”
Mr Abels gave the assurance that they would work hard to encourage German businesses to come to Ghana and invest “but we need to work together and also improve business conditions.”
By Cephas Larbi