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Business & Economy

President Nana Addo Dankwa Akufo-Addo has assured investors that Ghana is ready to welcome them.

President Nana Addo Dankwa Akufo-Addo has assured investors that Ghana is ready to welcome them.


He stressed that although the country would not be biased, “There should be no surprise if we are more welcoming to those who are prepared to invest in our priority areas.”

The President said this yesterday at the fifth edition of the Financial Times Africa Summit, held on the theme “Ghana, Africa Mean Business”.

China-Africa matrix

Increasingly loud anxiety is being expressed in the West about the close relationships developing between China and African countries, including Ghana. Some reportedly see in the growing Beijing-Africa rapprochement the looming danger of a new colonisation of the African continent, this time by China.

However, President Akufo-Addo debunked this notion, saying: “We are all much wiser about these things, and we are going into these new relationships with our eyes wide open.

“Nobody is coming, pretending to be bringing God’s Word in one hand and taking our lands with the other.”

This time round, the President assured his audience, “We will look after our interests, in much the same way as we know all other nations that we deal with look after their own interests.

“We are not the only ones dealing with China. Everyone is dealing with China, and we are doing so with our eyes wide open.”

Land of potential

As one critical challenge to the Ghanaian economy is its infrastructural deficit, the President indicated that his government is embarking on an aggressive public-private partnership programme to attract investment in development of both road and railway infrastructure.

“We are hopeful that, with solid private-sector participation, we can develop a modern railway network with strong production centre linkages and with the potential to connect us to our neighbours to the north, ie, Burkina Faso; to the west, ie, Côte d’Ivoire; and to the east, ie, Togo,” he said.

The railway sector, he stressed, “is an area where appropriate foreign technology, expertise and investment would be very welcome”.

To participants in the forum, the President reiterated his government’s commitment to creating the space for the private sector to grow the jobs that Ghanaian youth need, and to position Ghana to take full advantage of the immense opportunities offered by the projected African Continental Free Trade Area.

“I am working towards building a Ghana where her people have jobs and decent livelihoods.

“Ghana is endowed with great potential, where security and the rule of law are upheld, and where investments are secure. We want to contribute to the global marketplace at the higher level of the value chain for Ghanaian products,” he said.

“We want to bring greater dignity to the lives of millions of people in Ghana,” the President added. “We want to build a Ghana Beyond Aid, which has discarded a mindset of dependence, aid, charity and handouts ‒ and we mean business.”

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