Nana Asinte Mante Adi (left), Akrodehene, Berekuso presenting the award to Mr Michael Oquaye Jnr (2nd right), CEO, GFZA, with them is Mr Lawrence Osei-Boateng (right), Technical Advisor, GFZA and other personalities.

Let’s work to make Ghana trade hub - Free Zones CEO

Business Desk Report Business News Feb - 03 - 2022 , 09:40

The Chief Executive Officer (CEO) of Ghana Free Zones Authority (GFZA), Mr Michael Oquaye Jnr, has called for support from relevant stakeholders to help fast-track Ghana’s aspiration to become a trade and industrial hub in Africa.

“Ghana is on the verge of becoming the centre of African trade and we need you all to join us to make this a reality.

We at the Ghana Free Zones Authority are doing our best but we cannot do it alone; we need all hands on deck, including yours,” Mr Oquaye said, when the GFZA won two awards at the just ended Corporate Ghana Awards in Accra.

The awards

While the GFZA emerged Trade and Investment Company of the year, its CEO won the prestigious enterprising CEO of the year at the awards night.

Mr Oquaye noted that the awards were significant recognition given to the authority which consolidated efforts, particularly in the previous year, following its quick recovery from the COVID-19 pandemic.

The authority was established on August 31, 1995, by the Free Zone Act (Act 504) to promote economic development and regulate activities in free zones and for related purposes in Ghana.

Since its inception, the authority has adopted innovative and efficient means to meet its statutory obligations.

Encourage local investors

The Free Zones CEO observed that the awards had been won at a time when the authority was poised to work more on its mandate to encourage local and international investors while embarking on a rigorous exercise of improving brand awareness.

He said the authority’s primary focus for the year 2022 was to drive local investor interest while curbing the perception of the GFZA being primarily tailored to foreign investors.

The GFZA offers a plethora of incentives including 100 per cent exemption from payment of income tax on profits for 10 years which will not exceed 15 per cent thereafter and 100 per cent exemption from payment of direct and indirect duties and levies on all imports for production and exports from free zones.

“All of these and more are available to local investors. The authority warmly invites all qualifying firms to solicit our services as we endeavour to give more to our investors to achieve more,” the CEO added.