Trade Minister woos Japanese businesses
The Minister of Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has urged Japanese businesses to take advantage of the improving macroeconomic environment and invest in the country.
She said the country recorded economic stability last year, including single-digit inflation and a stronger cedi, creating an enabling environment for businesses to thrive.
Mrs Ofosu-Adjare said the gains made were a result of deliberate policies and preparations towards building a stronger economy in 2026.
“Ghana has created the enabling environment for businesses to thrive. We are really ready to do business, and the time to do business with Ghana is right now,” she said.
The minister made the call when a delegation from the Japanese business community, led by the State Minister for Foreign Affairs of Japan, Kunimitsu Ayano, paid a courtesy call on her in Accra on Wednesday, January 14.
Present at the meeting were the Deputy Ambassador of Ghana to Japan, Francis Thalamus Doe, and directors of the ministry.
Economy stability
Mrs Ofosu-Adjare said the country had positioned itself as the gateway to trade in West Africa and Africa, with a combined Gross Domestic Product (GDP) of GH¢3.4 trillion and a youthful population ready to work.
She commended Japan for its support, particularly the capacity-building programme based on the Japanese efficiency model, Kaizen, which she said had been instrumental in making small and medium-sized enterprises (SMEs) more productive and competitive.
She cited the success of Japanese companies such as Toyota Tsusho in the country and encouraged more Japanese firms to take advantage of investment opportunities in the country.
The minister identified textiles and garments, component manufacturing, advanced pharmaceuticals and sugar production as key sectors with strong investment potential.
Addressing debts
Touching on the country’s debt situation, Mrs Ofosu-Adjare said the government had begun addressing outstanding obligations, citing the recent payment of energy sector debts, with more payments expected.
She said government policies included tax holidays for businesses until they became profitable and reiterated the government's openness to dialogue with the private sector to avoid overburdening businesses.
She added that she was working closely with Ghana’s Ambassador to Japan to facilitate investment and trade and assured investors of a reliable dispute resolution mechanism at the Ghana Investment Promotion Centre (GIPC).
“In every business relationship, problems may arise. What matters is how they are resolved. There is a mechanism at GIPC solely for the resolution of any matter that comes up, and that should be reassuring to anyone who wants to invest in Ghana,” she said.
Strengthen partnership
The State Minister of Foreign Affairs of Japan, Kunimitsu Ayano, acknowledged the improvement in the country’s macroeconomic conditions, as assessed by the International Monetary Fund (IMF), and commended the country’s efforts to create a favourable business climate.
However, she stated that challenges remained, including unpredictable regulatory changes, sudden suspension of tax exemptions and unpaid contract fees.
She expressed the hope that such issues would be resolved promptly to attract more Japanese investment and strengthen trade and investment ties between Japan and Ghana.
