Business News of 2013-12-08

UT Bank, GGBL partner Invest in Africa

Invest in Africa, has announced that Guinness Ghana Breweries Limited (GGBL) and UT Bank have become the latest Ghanaian companies to join the organisation as local partners.

Invest in Africa is a growing group of international companies, working together to address the cross-sector challenges of doing business in Africa.

A statement signed by Sam Brandful, Invest in Africa Ghana Manager and copied to the Ghana News Agency the weekend said the partnership deal follows similar announcement in November that Ecobank, the leading pan-African bank, had joined the corporate entity as a global partner.

In October, Ghana Investment Promotion Centre and the Association of Ghana Industries also joined as local partners. The statement said Invest in Africa at present focuses on supporting local Ghanaian businesses by providing greater access to finance, skills and markets, making it easier for international companies working in Ghana to source locally and at large scale.

It quoted Preba Greenstreet, Corporate Relations Director of GGBL as saying: “Developing local partners in Ghana is a key pillar of our business. Invest in Africa shares this ambition and works to make local sourcing easier and more secure; such an initiative must be supported.”

Pearl Esua-Mensah, Deputy Managing Director of UT Bank, added: “UT Bank has always supported local companies; after all we are one too. “So, Invest in Africa's commitment to improve local businesses’ access to new markets, skills and finance make this partnership a natural fit for us,” said the statement.

Sam Brandful, Invest in Africa Ghana Manager, said: “Both UT Bank and GGBL are established figures in the business life of Ghana; operating sustainably and creating a better local business environment is something that both companies are actively engaged in.

“So, Invest in Africa is delighted to announce them as new Local Partners.” At present, the company is focused on supporting local Ghanaian businesses by providing greater access to finance, skills and markets.

Invest in Africa was founded in 2012 by Tullow Oil, and its Global Partners include Lonrho, Ernst and Young and Ecobank.