Most press releases and feature articles in Ghana focus on what the Americans want from Ghana during President Obama’s visit. Much as that assertion is fundamental, it is more beneficial to strategize on what Ghanaians should be working on to benefit from the State Visit. Without a doubt: WE NEED ECONOMIC EMPOWMENT TO REDUCE POVERTY IN A SECURED ENVIRONMENT. This is a challenge to the private sector
Ghanaians love Americans and I can attest to the fact that citizens of the United States also love and respect Ghanaians. Every major University in the US has a Ghanaian on their academic staff. Ghana proportionately, has one of the highest number of American residents, in the whole continent of Africa.
In the developing world the State Visits are usually for a few days or hours, yet the major benefits comes in how effective the follow up is. The Visit is a signal to the business community: ‘ it is all right to do business’. The onus then mainly lies with us, to develop an effective trade and economic framework to benefit from the shortfall in months and years to come. The tourism gains and the existing economic agreements: [AGOA for market access, MCC for trade infrastructure etc] will need retooling and enhancement. Nevertheless, active private sector involvement is key to pragmatically bring the benefits of these programs to the ordinary people. After four very high level visits [ Then Vice President Richard Nixon at our Independence 1957, President Bill Clinton in 1999, President George Bush in 2008 and now President Barack Obama in 2009] We need to continuously strategize to have synergistic benefits. Few countries in Africa have had these opportunities. Continuation of our economic diplomacy policy is commendable, the Americans appreciate positive continuation. We should have a strategy to maximize our benefit from the over fifty [ $50] billion dollar Presidential initiative on AIDS, malaria and Tuberculosis. It is the largest health donation in history
ECONOMIC EMPOWERMENT.
There is no question that United States is the economic giant of the world .Yet what most people do not know is that the US is also the biggest and most diverse market place in the world. You will meet all kinds of business executives from every country in the world, coming to the United States, looking for business partners and opportunities. The United States government sets the policy and main frame work for economic empowerment. Nevertheless, it is the US private sector where Ghanaians will benefit most on a sustainable basis, if we create the right milieu in our motherland. The US private sector creates jobs which are the most effective means of reducing poverty. Even the small and Medium US enterprises are huge by Ghana standards. It therefore behooves on us to incubate the critical mass of credible business executives with international standards to effectively complement our US counterparts.
The standards for the Ghanaian business executive are should be: integrity of business personnel, verifiable bank and tax records, traceable goods packaged by international standards, maintain sanitary and phytosanitary standards, SPS, excellent business plan, marketing packages among others. The US EXIM Bank will help with financing if you use US goods; the Overseas Private Investment Corporation [OPIC] will assist with finance if you have US partners.
The areas that are very lucrative include: HOME DÉCOR [what we call arts and crafts in Ghana] , Commercial real estate, Energy, Agro processing notably organic products, Information Communication Technology {ICT}, Extractive industry and services especially Finance. You should also plan to visit some of the numerous US Trade shows continuously with your full package. The initial trips may not pay off but tenacity is key, as you will be rewarded eventually. I advise you to be interactive and assertive. Ghanaians think the later is arrogance but the Americans appreciate assertiveness. Please make eye contact and always dress professionally.
It is my hope that the business community takes this cue as the sky is the limit.
By Kwame Bawuah-Edusei
The writer is a business executive, philanthropist and physician now on a business trip in USA
Most press releases and feature articles in Ghana focus on what the Americans want from Ghana during President Obama’s visit. Much as that assertion is fundamental, it is more beneficial to strategize on what Ghanaians should be working on to benefit from the State Visit. Without a doubt: WE NEED ECONOMIC EMPOWMENT TO REDUCE POVERTY IN A SECURED ENVIRONMENT. This is a challenge to the private sector
Ghanaians love Americans and I can attest to the fact that citizens of the United States also love and respect Ghanaians. Every major University in the US has a Ghanaian on their academic staff. Ghana proportionately, has one of the highest number of American residents, in the whole continent of Africa.
In the developing world the State Visits are usually for a few days or hours, yet the major benefits comes in how effective the follow up is. The Visit is a signal to the business community: ‘ it is all right to do business’. The onus then mainly lies with us, to develop an effective trade and economic framework to benefit from the shortfall in months and years to come. The tourism gains and the existing economic agreements: [AGOA for market access, MCC for trade infrastructure etc] will need retooling and enhancement. Nevertheless, active private sector involvement is key to pragmatically bring the benefits of these programs to the ordinary people. After four very high level visits [ Then Vice President Richard Nixon at our Independence 1957, President Bill Clinton in 1999, President George Bush in 2008 and now President Barack Obama in 2009] We need to continuously strategize to have synergistic benefits. Few countries in Africa have had these opportunities. Continuation of our economic diplomacy policy is commendable, the Americans appreciate positive continuation. We should have a strategy to maximize our benefit from the over fifty [ $50] billion dollar Presidential initiative on AIDS, malaria and Tuberculosis. It is the largest health donation in history
ECONOMIC EMPOWERMENT.
There is no question that United States is the economic giant of the world .Yet what most people do not know is that the US is also the biggest and most diverse market place in the world. You will meet all kinds of business executives from every country in the world, coming to the United States, looking for business partners and opportunities. The United States government sets the policy and main frame work for economic empowerment. Nevertheless, it is the US private sector where Ghanaians will benefit most on a sustainable basis, if we create the right milieu in our motherland. The US private sector creates jobs which are the most effective means of reducing poverty. Even the small and Medium US enterprises are huge by Ghana standards. It therefore behooves on us to incubate the critical mass of credible business executives with international standards to effectively complement our US counterparts.
The standards for the Ghanaian business executive are should be: integrity of business personnel, verifiable bank and tax records, traceable goods packaged by international standards, maintain sanitary and phytosanitary standards, SPS, excellent business plan, marketing packages among others. The US EXIM Bank will help with financing if you use US goods; the Overseas Private Investment Corporation [OPIC] will assist with finance if you have US partners.
The areas that are very lucrative include: HOME DÉCOR [what we call arts and crafts in Ghana] , Commercial real estate, Energy, Agro processing notably organic products, Information Communication Technology {ICT}, Extractive industry and services especially Finance. You should also plan to visit some of the numerous US Trade shows continuously with your full package. The initial trips may not pay off but tenacity is key, as you will be rewarded eventually. I advise you to be interactive and assertive. Ghanaians think the later is arrogance but the Americans appreciate assertiveness. Please make eye contact and always dress professionally.
It is my hope that the business community takes this cue as the sky is the limit.
By Kwame Bawuah-Edusei
The writer is a business executive, philanthropist and physician now on a business trip in USA
