President John Dramani Mahama had prolonged a hand of invitation to European traders to make the most of Ghana’s enhancing economic system to enterprise into the nation for mutual profit.
He mentioned there have been funding opportunities in agro industrial zones, renewable vitality and inexperienced finance, pharmaceutical industry, digital infrastructure and innovation, transport and connectivity amongst others.
Ambassadors on the enterprise discussion board Picture: Ebo Gorman
President Mahama who acknowledged this in Accra yesterday in the course of the Ghana-European Union (EU) Enterprise Discussion board, mentioned since taking the reins of energy in January this yr, the financial indices of the nation had improved with higher projections into the longer term.
The programme organised by the European Union (EU) and the Authorities of Ghana was underneath the theme “Fostering funding in excessive progress potential worth chains underneath the EU International Gateway Strategy.”
As a part of the programme, the EU signed a number of help packages to the nation and a few personal organisations totalling greater than 4 billion euros.
President Mahama mentioned “Below my leadership, Ghana is embarking on a brand new period of business diversification, youth employment, and inexperienced transformation and the function of traders and strategic partnerships might be indispensable.”
Ghana, the President famous, was emerging from a interval of fiscal misery, excessive inflation, and declining investor confidence amongst different damaging indicators.
In line with him, the tide of financial turbulence was turning round with a steep adjustment within the major steadiness from damaging 3.9 of GDP by finish of yr 2024 to a projected optimistic 1.5 of Gross Home Product by finish of this yr.
“These daring and focused interventions are starting to witness early indicators of economic restoration and renewed momentum,” he emphasised.
The up to date actual composite index of financial exercise, he disclosed recorded an annual progress of two.3 per cent for the primary quarter of 2025 in comparison with 1.0 per cent for a similar interval final yr.
With inflation easing to 21.2 from 23.8 on the finish of 2024, a single digit inflation professionaljected by center of 2026, appreciating cedi, gross worldwide reserve enhancing from $8.9 billion to $10.6 billion amongst different optimistic financial indicators, although early within the yr, President Mahama mentioned the longer term appears to be like even brighter.
“My authorities’s imaginative and prescient is to construct a resilient and dynamic economic system that creates jobs, provides worth to our pure sources and empowers small and medium enterprises to scale up globally.
“I guarantee all potential companions that underneath this administration, Ghana is dedicated to clear governance, coverage predictability, and a reformed enterprise atmosphere,” he confused.
The Deputy Director-Normal of Internationwide Partnerships of the EU, Myriam Ferran, mentioned the discussion board aimed to determine new enterprise and commerce alternatives, facilitating partnerships, and enhancing funding via threat assure schemes just like the European Fund for Sustainable Growth Objectives.
She famous that EU investments in Ghana had doubled since 2016, reaching €4 billion in 2023 and mentioned there was additional opportunities to extend commerce between Ghana and EU.
Ms Ferran mentioned EU was supporting lots of tasks to speed up the socio-economic growth of Ghana and mentioned the tasks had been within the areas of feeder roads, irrigation programs, agriculture, vitality and well being, including that discussions had been underway to help Ghana with 135 million euros to help vitality infrastructure to enhance electrical energy provide in Northern Ghana and rural communities.
The Minister of Commerce, Business and Agrienterprise, Mrs Elizabeth Ofosu-Adjare, mentioned the federal government was dedicated to making a clear and conducive enterprise environment that fostered funding and financial transformation.
She mentioned Ghana and EU had loved lengthy standing relationship, including that Ghana and EU cooperation ought to transfer past uncooked commodities to value-added manufacturing and know-how switch.
Mrs Ofosu-Adjare mentioned Ghana was additionally searching for EU collaboration to construct a powerful pharmaceutical business, aiming to grow to be a producing hub for vaccines and important medicines in West Africa.
The EU Ambassador to Ghana, Irchard Razaaly, mentioned EU and Ghana shared a common growth mission, saying that the EU was dedicated to the event of Ghana, and would help the federal government to deal with the rising unemployment challenge dealing with the nation.
BY KINGSLEY ASARE AND JULIUS YAO PETETSI
