Joseph Addae Akwaboa
The Bono Regional Minister, Joseph Addae Akwaboa, has declared the Bono Region open for investment, urging both local and foreign investors to take advantage of its abundant agricultural resources and tourism potential to establish value addition industries and create jobs.
He said the region’s fertile lands, favourable climate and peaceful environment make it one of the country’s most attractive investment destinations, with enormous opportunities in agriculture, agro-processing and tourism.
Mr. Addae Akwaboa made the appeal on Tuesday at the Bono Regional Investment and Industrial Transformation Forum in Sunyani, which was organised by the Ghana Investment Promotion Authority (GIPA).
The forum, themed “Driving Local Investment Unlocking Regional Potential: Mapping Opportunities and Mobilising Growth in the Bono Region,” sought to showcase the region’s investment opportunities and attract both domestic and foreign investors.
The Regional Minister expressed confidence that increased investment would accelerate industrialisation in the region while contributing significantly to the country’s economic transformation agenda.
He highlighted the region’s vast agricultural output, including cashew, maize, cassava, yam, plantain, vegetables, citrus and other fruits, and urged investors to establish processing factories to add value to these commodities instead of exporting them in their raw state.
“Our favourable climate, fertile agricultural lands and peaceful environment make the Bono Region an attractive investment destination. We invite investors to take advantage of these opportunities to establish industries that will create jobs and improve livelihoods,” he said.
The Deputy Chief Executive Officer of GIPA, Razak Baba, said the investment forum formed part of efforts to increase the Bono Region’s share of foreign direct investment (FDI) inflows into the country.
According to him, although Ghana has attracted about US$52 billion in foreign direct investment over the years, the Bono Region accounts for only 0.1 percent of that figure.
He described the situation as unacceptable and stressed the need to redirect more investment to the region.
“The Bono Region has enormous potential. For example, it produces about 80,000 metric tonnes of cashew annually, yet nearly 90 per cent of it is exported in its raw form. There is a huge opportunity for value addition through processing,” he stated.
Mr. Baba assured prospective investors that the government incentives were available to support businesses willing to invest in the region.
The Omanhene of the Sunyani Traditional Area, Ogyeamansan Boahen Korkor II, who chaired the occasion, urged Ghanaians to embrace discipline and hard work to support national development.
He also called on Metropolitan, Municipal and District Chief Executives (MMDCEs) to work closely with traditional authorities to identify and promote investment opportunities within their respective districts.
From Daniel Y. Dayee, Sunyani