On the China-Ghana Enterprise Discussion board in Shenzhen, China, on September 7, 2024, President Nana Addo Dankwa Akufo-Addo made a compelling case for elevated Chinese language funding in Ghana.
Addressing a gathering of Chinese language enterprise leaders, the President emphasised the longstanding relationship between Ghana and China, in addition to the numerous funding alternatives accessible in sectors starting from manufacturing to agriculture and inexperienced power.
Opening his speech with a Chinese language proverb, “If you wish to stroll far, stroll with somebody,” President Akufo-Addo symbolized Ghana’s want to stroll hand-in-hand with China on the trail to long-term financial progress.
He pressured Ghana’s dedication to study from China’s success and deepen ties with its enterprise neighborhood for mutual prosperity.
He highlighted the strong commerce relations between Ghana and China, noting that China has been Ghana’s largest buying and selling associate since 2015, with bilateral commerce reaching $9.23 billion in 2023. He recommended Chinese language firms for his or her investments in key sectors equivalent to development, power, agriculture, and ICT, attributing China’s rising presence in Ghana to the nation’s stability, safety, and beneficial funding atmosphere.
Reflecting on world challenges such because the COVID-19 pandemic and the continued Russia-Ukraine battle, the President underscored how these occasions uncovered structural weaknesses throughout Africa. He known as on the enterprise neighborhood to associate with Ghana to create resilient, climate-conscious, and diversified economies able to withstanding future world shocks. Based on him, worldwide cooperation will probably be important in constructing economies that thrive regardless of world disruptions.
President Akufo-Addo additionally highlighted Ghana’s progress beneath his administration, noting the federal government’s efforts to foster a business-friendly atmosphere since 2017. He identified that Ghana’s financial system grew quickly between 2017 and 2020, with a mean annual GDP progress charge of seven%. Regardless of setbacks from the pandemic and geopolitical challenges, the President expressed optimism about Ghana’s return to sturdy financial progress.
He additional elaborated on the federal government’s Ghana CARES ‘Obaatampa’ Programme, a complete financial revitalisation plan aimed toward addressing the challenges brought on by the pandemic. The programme seeks important personal sector funding in key areas equivalent to agriculture, agro-processing, housing, and healthcare. He invited Chinese language companies to take part, emphasising the significance of partnerships in rebuilding the financial system.
President Akufo-Addo additionally showcased numerous authorities initiatives aimed toward boosting industrialisation and financial growth, together with the “Planting for Meals and Jobs” initiative, the event of Ghana’s automotive sector, and efforts to construct built-in bauxite and iron industries. These initiatives are a part of Ghana’s broader technique to transition from an exporter of uncooked supplies to a value-added, industrialised financial system.
He spoke about Ghana’s distinctive place as host of the African Continental Free Commerce Space (AfCFTA) Secretariat in Accra, which gives immense alternatives for companies to entry African markets. The President highlighted Ghana’s potential to change into a strategic hub for regional commerce and funding, describing the nation as a gateway to the continent.
In conclusion, President Akufo-Addo reiterated that Ghana is a perfect vacation spot for Chinese language funding, providing a steady regulatory atmosphere, beneficial fiscal insurance policies, and plentiful pure assets. He urged Chinese language buyers to grab the second, stressing that Ghana’s doorways are open and its markets are prepared for significant partnerships.
With a renewed dedication to fostering sturdy ties between Ghana and China, the President expressed optimism concerning the future, noting that deeper collaboration would create shared prosperity for each nations.
“Allow us to seize this second to forge stronger ties, construct lasting partnerships, and create shared prosperity for the folks of Ghana and China,” President Akufo-Addo concluded, thanking the Chinese language enterprise neighborhood for his or her continued curiosity in Ghana.