UK to support Ghana make Accra financial hub
Arku Jasmine
The United Kingdom (UK) has offered to collaborate with Ghana to transform Accra into an international financial transaction centre.
Under the arrangement, the UK will support Ghana to fashion out the appropriate regulatory framework to govern business transaction and harmonise business registration processes.
The offer was made by the British Prime Minister, Dr David Cameron and other British officials at separate meetings with President John Dramani Mahama in London.
President Mahama was in the UK at the invitation of the British Prime Minister for bilateral talks at No.10 Downing Street in London. He also participated in the G8 Summit.
Giving an overview on the President's visit to the UK at the Flagstaff House in Accra yesterday, a Deputy Minister of Information and Media Relations, Mr Felix Ofosu Kwakye, said UK officials said they were impressed about the peaceful climate in Accra.
Consequently, he said UK officials gave an indication that Accra needed to have the right regulatory framework to become an international financial hub.
He said the government would continue to create a sound economic climate to attract more business investment.
Mr Ofosu Kwakye said Ghana was highly commended by the UK for the efficient manner it was managing its oil revenue.
He indicated that the government was committed to deepening transparency in the management of oil revenue.
Making his contribution to the G8 Summit plenary session in London last Saturday, President Mahama gave an assurance that his administration was implementing measures to prevent financial leakages in the oil, gas and extractive industries.
“In Ghana, the government has a vibrant media, strong civil society organisations, and is also a signatory to the Extractive Industries, Transparency Initiative (EITI) that will ensure that money accruing from the industry will be properly accounted for”, he said.
President Mahama also addressed the Ghanaian community in London, where he gave the assurance that the government would continue to pursue measures that would enhance the socio-economic development of the country.
Under the arrangement, the UK will support Ghana to fashion out the appropriate regulatory framework to govern business transaction and harmonise business registration processes.
The offer was made by the British Prime Minister, Dr David Cameron and other British officials at separate meetings with President John Dramani Mahama in London.
President Mahama was in the UK at the invitation of the British Prime Minister for bilateral talks at No.10 Downing Street in London. He also participated in the G8 Summit.
Giving an overview on the President's visit to the UK at the Flagstaff House in Accra yesterday, a Deputy Minister of Information and Media Relations, Mr Felix Ofosu Kwakye, said UK officials said they were impressed about the peaceful climate in Accra.
Consequently, he said UK officials gave an indication that Accra needed to have the right regulatory framework to become an international financial hub.
He said the government would continue to create a sound economic climate to attract more business investment.
Mr Ofosu Kwakye said Ghana was highly commended by the UK for the efficient manner it was managing its oil revenue.
He indicated that the government was committed to deepening transparency in the management of oil revenue.
Making his contribution to the G8 Summit plenary session in London last Saturday, President Mahama gave an assurance that his administration was implementing measures to prevent financial leakages in the oil, gas and extractive industries.
“In Ghana, the government has a vibrant media, strong civil society organisations, and is also a signatory to the Extractive Industries, Transparency Initiative (EITI) that will ensure that money accruing from the industry will be properly accounted for”, he said.
President Mahama also addressed the Ghanaian community in London, where he gave the assurance that the government would continue to pursue measures that would enhance the socio-economic development of the country.
By Musah Yahya Jafaru