It’s a good time to be in Ghana – Bawumia tells business delegation

The Vice-President, Dr Mahamudu Bawumia, has reiterated the government’s resolve to create an enabling environment for businesses to grow and for the creation of employment.

He said Nana Addo Dankwa Akufo-Addo’s administration was undertaking the necessary structural and economic reforms to create a solid base for the accelerated take-off of the economy and at the same time maintain macro-economic stability.

The Vice-President was interacting with a delegation from Allianz SE, a global financial services provider that paid a courtesy call on him at the Jubilee House last Friday.

The Allianz delegation was led by its Chief Operating Officer, Dr Christof Mascher.

Allianz Group

The Allianz Group is a global financial services provider based in Germany, with services predominantly in the insurance and asset management business.

As of 2014, it was the world’s largest insurance company and the largest financial services company, with 86 million retail and corporate clients in more than 70 countries. 

In Africa, Allianz is currently present in 17 countries.

Allianz Ghana, which began operations in the country in 2009, is a 100 per cent wholly owned subsidiary of the Allianz Group.

It currently has operations in the Greater Accra, Ashanti, Western, Eastern, Northern, Volta and Brong Ahafo regions.

Excitement

“We are happy to see Allianz here; this is a good time to be in Ghana,” Vice-President Bawumia said, adding: “We want a growing and strong economy, and this goes hand in hand with insurance.

“We remain committed to our resolve to making Ghana the most business-friendly country in Africa and we are working hard to put the necessary building blocks in place,” he said.

Dr Bawumia said already the government had implemented a national digital property addressing system, while national ID cards were about to be issued.

 He also said financial interoperability, which would make payments easier than ever, would be launched soon.

“Another important plank, the issue of land, is being addressed by a taskforce. We intend to digitise land records and eventually create a mortgage market and other financial instruments. So we expect you to expand your business and grow in Ghana,” he added.

Operations

In his remarks, Dr Mascher said his company was desirous of learning from Ghana in its global expansion drive and outlined plans to further expand its operations.

The Regional Chief Executive Officer of the Allianz Group for Africa, Dr Coenraad Vrolijk, who was a member of the delegation, said as part of Allianz Africa’s growth plans, a number of Africans, including Ghanaians, were being trained to undertake underwriting operations.

“That is directly creating jobs and will help enhance the company’s expansion drive,” he said.

Other members of the delegation included Ms Delphine Maidou Traore, Regional CEO, Africa; Mr Arikal Pramod, Head of Technology, Allianz Africa; Mr Patrick Prado, CEO of Allianz Life Insurance Company of Ghana, and Mr Darlington Munhwani, the CEO of Allianz Insurance Company of Ghana.

The rest were Mr John Mensah, Chief Operating Officer; Mr Isaac Adomako, Chief Finance Officer, and Mr William Annor Adu, Head of Business Development, all of Allianz Ghana.