The CEO of the Ghana Funding Promotion Centre (GIPC), Yofi Grant, has requested African leaders and enterprise executives to work on redefining engagement with funding companions to enhance International Direct Funding (FDI) on the continent.
He stated it was essential for the continent’s inhabitants development to match the worldwide FDI to Africa to assist promote socio-economic growth.
“This redefinition can most successfully be achieved by means of collaborative discussions on our present place and future aspirations.
“By 2050, Africa will comprise 1 / 4 of the worldwide inhabitants. Think about if, by that point, Africa additionally acquired 1 / 4 of worldwide FDI flows.
” As we deal with selling intra-African commerce by means of the AfCFTA, it’s essential for Africa to redefine our strategy to participating with investor companions,” he stated on the inaugural Annual Meeting of African Funding Promotion Companies.
The summit introduced collectively key stakeholders to debate the pivotal function of Funding Promotion Companies (IPAs) in fostering intra-African commerce underneath the African Continental Free Commerce Space (AfCFTA).
The meeting aimed to advertise socio-economic growth throughout the continent, highlighting the significance of collaboration amongst African nations.
Ghana’s efforts in funding promotion have yielded spectacular outcomes, positioning the nation because the second-highest recipient of FDI in West Africa.
In 2021 alone, Ghana attracted $2.6 billion in overseas investments as reported by the United Nations Convention on Commerce and Growth (UNCTAD).
This success will be attributed to Ghana’s business-friendly atmosphere, expert workforce, and abundance of pure sources, making it a beautiful vacation spot for traders.
GIPC’s initiatives, together with the Sustainable Growth Objectives (SDG) investor roadmap developed in partnership with the United Nations Growth Programme (UNDP), are instrumental in remodeling sustainability challenges into viable private-sector funding alternatives.
These efforts not solely bolster Ghana’s financial development but additionally contribute to the broader purpose of sustainable growth throughout the area.
In line with the GIPC, Ghana was bolstering its function inside the World Affiliation of Funding Promotion Companies (WAIPA) and the worldwide funding area, with GIPC devoted to making a beneficial local weather for funding and development, a information transient stated.
Via modern methods and focused initiatives, Ghana is about to develop into a frontrunner in attracting overseas funding and driving financial growth in West Africa.
WAIPA, an affiliate of the United Nations Convention on Commerce and Growth (UNCTAD), has recognised the efforts of GIPC’s CEO, Mr. Grant and he has been nominated and elected because the Director representing Sub-Saharan Africa for 3 consecutive phrases.