Ghana woos Rwandan investors

Ghana’s fastest-growing industries—such as cocoa derivatives, cashew, banana, shea butter, processed fish, metals, and edible oil—remain untapped and ready for investments, Mr. Banda Abdallah, Manager at the Ghana Export Promotion Authority (GEPA) Market Hub, has said.

Speaking at a business breakfast meeting with a visiting Rwandan delegation in Accra, Mr. Abdallah stated that the country’s door is open to potential investors looking to explore the West African market.

He said to increase exports and attract more investments in especially the non-traditional export sectors, the government has developed a National Export Strategy that is being implemented till 2029.

The strategy has 17 “strategic value chains” comprising sugar, industrial starch and others, with a target of earning US$25bn in export revenue by 2029, he added.

Mr. Edward Ashong-Lartey, Director, Investor Services, at the Ghana Investment Promotion Centre (GIPC), addressed the delegation on the centre’s mandate and also outlined the tax incentives available to investors.

He revealed that the GIPC law, Act 865, is undergoing a review to “make it robust and competitive”, adding, “Very soon, we will have an interesting regime to attract more investors”.

The Rwanda High Commissioner to Ghana, Dr. Aisa Kirabo Kacyira, urged both countries to “dream big” to forge stronger partnerships to boost trade and investment opportunities in Africa.

“We want to work together to create the new Africa as presented by the AfCFTA [African Continental Free Trade Area],” she said.

The 32-member Rwandan delegation, comprising government officials and relevant stakeholders from the private sector, is in the country to explore bilateral opportunities in business, tourism, and economic development.

Their visit is in response to an earlier visit to Rwanda in March this year by a Ghanaian trade and media delegation to promote regional tourism and trade in anticipation of greater collaboration under the AfCFTA.

Source: Business 24, https://business24.com.gh/2021/06/16/ghana-woos-rwandan-investors/

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