GIPC Boosts Ghana, Asia Trade

Ken Ofori-Atta, Yofi Grant and a representative of one of the partners at the press conference after the launch of the road show

The Ghana Investment Promotion Centre (GIPC), as part of efforts to ensure that the country’s private sector chalks more successes in Asia, has launched an Asian investment campaign.

The campaign themed, ‘Asian Road Show’ is in partnership with the Ministry of Finance and the DWM Group.

It would sustain engagement between players in Ghana’s private sector and their counterparts in Asia.

The event, which would start in Japan from January 28th to 12th February 2018, will enable the campaign partners, including Mitsubishi UFJ Financial Group, (Japan’s largest bank), spearhead the formation of the Asia Business Club.

Speaking at the Market Sounding Breakfast Meeting to launch the campaign, Minister of Finance, Ken Ofori-Atta, disclosed that government intends to achieve three things with the campaign.

He said the ministry was in the process of examining the possibility of arranging between US$300 million and $500 million Ghanaian debt issuance on Asian capital markets.

“We want to structure partnerships between state owned enterprises and the private sector in Ghana with counterparts in Asia to invest in targeted industries and sectors such as oil and gas, agriculture, mining and infrastructure,  railways, ports, financial services, technology and innovation,” he said.

Mr. Ofori-Atta said: “We should soon expect moves towards a bilateral currency swap between the Ghana Cedi and the Japanese Yen and a potential $2 billion bond in the next three years,” he added

Yofi Grant, Chief Executive Officer (CEO) of the GIPC, in a remark, said relations between the two countries would be sustained by MUFG and Standard Chartered Bank.

Ghana’s Ambassador to Japan, Frank Okyere, as well as representatives of MUFJ and Japan International Corporation Agency (JICA) respectively Christopher Marks and Hirofumi Hoshi threw their weight behind the campaign.

 

By Jamila Akweley Okertchiri

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