Ghana Seeks More Direct Investment From UK

By Neil Ferguson

London — GHANA'S High Commissioner to the United Kingdomn Papa Owusu-Ankomah, has assured senior business executives of high return on their investment in the West African country.

Speaking at an event in event in London, he underscored the urgent need for more foreign direct investment as the country seeks to deepen its industrialisation programme, create decent jobs and generate foreign exchange.

The envoy reiterated the fact that Ghana had since multiparty politics in 1992 experienced a stable political environment anchored on democratic principles with comprehensive constitutional and statutory protection for investors.

"However, the country is yet to reap fully from this stability," Owusu-Ankomah said.

He commented on the latest initiatives in respect of digitisation saying this would revolutionise Ghana's development agenda.

These initiatives include e-registration of companies, paperless clearance of goods from the ports as part of trade facilitation process, vehicle registration and issuance of driver's license.

Owusu-Ankomah also lauded Nana Akufo-Addo's Programme for Economic Transformation (AAPET), which among other things seeks to address job creation, infrastructure development and accelerated investment in agriculture.

He also called on executives to explore opportunities in the agro-processing, One District One Factory, pharmaceutical, banking, finance and renewable energy.

However, senior representatives in the sectors called on the government to address issues related to bureaucratic delays, acquisition of lands for business, diaspora involvement and infrastructure deficiencies which tend to affect business takeoffs.

Hogan Lovells, one of the largest global law firms with offices in London and Johannesburg, hosted the event.

It has been facilitating various investment and trade events both in Africa and in the UK.

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