Ghana’s Vice President, Dr. Mahamudu Bawumia, has urged foreign investors to take advantage of the investment opportunities created in various sectors of the Ghanaian economy.
Speaking at the 3rd Ghana Investments and Opportunities Summit on Tuesday, June 6, 2023, in London, Dr Bawumia noted that Ghana’s economic opportunities for private sector investors are back on track as the country is working to regain the trajectory it was on before the Covid-19 pandemic.
He acknowledged the impact of Covid-19 and other factors such as climate change, disruptions in the supply chain of manufacturing goods, and the war between Russia and Ukraine, stating that these issues, as projected by the World Bank, are sinking some developed and developing countries into a recession.
Despite these challenges, Dr Bawumia disclosed that the government is relentlessly re-focusing on economic growth and working hard to regain the trajectory Ghana was on and get back to pre-Covid growth numbers.
He affirmed that the government is balancing sound fiscal management with strategic public investments that unlock growth.
The investment summit seeks to attract foreign investors to take advantage of the opportunities available in the various sectors of the Ghanaian economy as the country works towards a full economic recovery.
Dr Bawumia emphasized that Ghana is home to one of West Africa’s most prominent and efficient ports, Tema, on the eastern coast, which serves as a feedstock to the landlocked ECOWAS countries and Takoradi port on the western coast, which serves logistics, oil and gas, and allied industries.
He cited the Brownfield, Greenfield, and Public Private Partnerships as tangible and bankable projects championed by the private sector in Ghana and abroad.
The Vice President assured that the government is acting as a facilitator to unlock bottlenecks and prioritize limited resources to strategic sectors and projects while the private sector remains the engine of growth in Ghana’s economy.
Dr Bawumia also urged foreign investors to support the government’s agenda of economic growth and act as a catalyst in unlocking the vast potential of Ghana. “We think this is an exciting time to be part of Ghana’s economic growth,” he said in his keynote address.
The investment summit seeks to show that Ghana is back on track, and strong opportunities exist for profitable private investments in key sectors.
By Vincent Kubi