Step up your investment in Ghana - Prez Mahama urges French business leaders
President John Dramani Mahama, has urged French business leaders to take advantage of Ghana's branding as the most stable democracy in Africa to step up their investment in the country.
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Receiving a delegation from MEDEF International at the Flagstaff House yesterday, he said although French companies were represented in some sectors of Ghana’s economy, they could explore more opportunities.
MEDEF International, which is the most representative organisation of the French private sector at the international level, comprises about 800,000 companies operating in various parts of the world.
The delegation, which included about 30 high-level business managers with interest in infrastructure, architecture, banking and financial services, transport and logistics, industrial projects, energy and I.T among others, was on a two-day investment trip to Ghana.
They were led to the Flagstaff House by the Chief Executive of the Ghana Investment Promotion Centre ( GIPC), Mrs Mawuena Trebarh.
Investment opportunities
President Mahama cited specific areas such as energy, water and infrastructure as investment opportunities.
To the members of the French delegation whose companies were into electricity generation, President Mahama said, “You couldn't have come at the right time because one of the challenges we are facing is with power generation, which we are doing everything to fill the gap."
He further indicated that the government was trying to expand the country's hydro potential with a project on the Oti River, which was expected to produce about 90 megawatts, some of which would be sold to Togo.
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He therefore invited the French to seek partnership with other investors and Ghanaians in the proposed project.
Economy
President Mahama touched on challenges in the country's fiscal environment and said the three-year programme with the IMF would stabilise the economy.
He also said although Ghana was surrounded by francophone countries, language should not be a barrier to trade and investment.
Delegation Leader
The chair of the MEDEF Africa Committee, Mr Patrick Lucas, said they were very interested in investing in the country.
He added that French investments in Ghana were increasing but "I still believe that it is not sufficient."
He said coming to Ghana with such a large number of investors of international repute gave credence to their resolve to increase French investment in Ghana.
Mr Lucas stated that the position of Ghana as a haven for investment was known worldwide and said, "We look forward to even stronger relations between France and Ghana."