Business News of 2014-08-05

‘Free Zones not preserve of multinational companies’

The Investor Support Services Manager of the Ghana Free Zones Board (GFZB), Hajia Hanatu Abubakar, has explained that the Free Zones programme in the country is not for multinational companies (MNCs), but Ghanaian only-businesses and entrepreneurs as well.
She explained that out of the 253 licensed free zones companies, about 40 per cent were wholly owned by Ghanaians while the rest were made up of joint ventures between Ghanaians and other MNCs.
Hajia Abubakar made this known when the management of the company presented a cash donation to the National Chief Imam, Sheikh Dr Osman Nuhu Sharubutu, at his residence in Accra.
The donation, which formed part of the company’s corporate social responsibility (CSR), was to augment the effort of the National Chief Imam as he strived to put smiles on the faces of the poor, needy, aged, orphans and other vulnerable groups in the society.
It was also to mark the end of a successful Ramadan (a month in which Muslims are enjoined to observe a 30-day fast). She said the involvement of Ghanaians in the Free Zones programme was stated in the mission statement of the board for which “the GFZB would like to urge Ghanaian businessmen, entrepreneurs and potential investors to take advantage of.”
Hajia Abubakar said according to the mission statement of the GFZB, the purpose of introducing the programme was to help transform Ghana into the Gateway to West Africa by creating an attractive and conducive business environment for the promotion and enhancement of domestic and foreign investment."
By this statement, she said, Ghanaians were part of the target audience who were expected to help in this holistic transformation of the economy. She said the organisation would soon roll out a serious media campaign to educate Ghanaians on the programme and its advantages.
Hajia Abubakar advised all Muslims to remain steadfast and resolute in their renewed relationship with Allah, adding that the 30-day fast and subsequent Eid celebration went beyond spiritual obligation.
Receiving the cash, the National Chief Imam, Sheikh Dr Osman Nuhu Sharubutu, lauded the GFZB for their support to the Muslims community and also recognising the need to give back to the society.
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