Ghanas praised for fight against corruption

Despite Ghana been ranked 70th out of 163 countries by the Transparency International (TI) in its 2006 Corruption Perceptions Index (CPI), Mr. Ruud Treffers , the Director General for International Cooperation of the Netherlands Ministry of Foreign Affairs has praised the government of Ghana for its continues fight against corruption.

Ghana¨s fight against corruption, he said is visible and has made the country one of the most enviable countries for investors.

Speaking to the ADM at 6th Africa Venture Capital Annual Conference (AVCA) in Dakar , he said ¨ i am not saying the government is fighting corruption, but what is on the ground is that the government is among few on the continent that is showing the willingness to fight the canker and we appreciate such effort.

Why is your contry so attractive to investors, he asked and answered its because they like the condusive environment in the country Mr. Ruud Treffers said no investor would invest in a country that has combination of political instability coupled with corruption.

He said though Africa has too many problems, corruption in the private and public sector is the major factor hindering the progress of the economy. Mr. Ruud Treffers said for any government to realise its economic growth, the fight against corruption must be its target.

It is not the government alone ; all stakeholders must come together… if there is corruption in either the government or any private institution, it hinders growth and investor run away, he said

He however noted that Africa is growing more steadily and that the continent is the hope of the 24 century. ¨If you are not investing in a country for example like Ghana now ; then you are missing the boat, he said Africa Venture Capital Annual Conference (AVCA) is a not-for-profit entity founded to promote, develop and stimulate private equity and venture capital in Africa.

According to Barbara James ; AVCA managing director, AVCA is committed to promoting high ethical standards of business conduct and professional competence in the private equity and venture capital industries.

This years conference has brought together over four hundred (400) delegates from all over the world.

The conference would discuss issues such as development qnd environmental impact of venture capital ; meeting the opportunities and challenges of venture Capital in Africa and Africa and international Government supporting Venture Capital and private equity.

The program also features panels on Institutional Investor Perspectives, Professional Development, Technical Assisitance, The Role of Development Banks, The Future of Foundations Investing in vc/pe and the Development Impact of vc/pe in Africa.

Some Ghanaians present at the conference include Nana Osei Bonsu ; chief executive officer of Venture Capital Trust Fund and rd Lind of fidelity Capital Patners Limited.

Mr rod Evison, Africa Director of CDC Group Plc would speak at the conference tomorrow.

Other speakers are Barbara James ; AVCA managing director , Eli Talmor ; Director london Business School Private equity Institute and other top notch world business personalities.