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Business News Thu, 24 Oct 2019

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Akufo-Addo meets Yango managers at Russia-Africa Summit

Ghana’s President, Nana Addo Dankwa Akufo-Addo, met Mr Musheg Sahakian, the Global Expansion Director for Yango, and other top managers of the company during the first Russia-Africa Summit and Forum which is currently being held in Sochi (Russia).

Nana Akufo-Addo encouraged Yandex (Yango’s parent company) and Yango to develop their presence in Ghana, including the launch of educational programmes that the company has already successfully introduced in Russia and CIS countries.

“By joining the existing ride-hailing market in Accra, Yango provided its locals with the new choice. Competition is always for good because it motivates all market players to improve, and everyone wins in the end. Users get cheaper rides and better service, drivers can earn better money, and the country gets the latest high-level technologies,” Mr Sahakian.

Yango (also known as Yandex Taxi) is an online ride-hailing service operating in more than 300 cities in Europe, Asia, Africa, and the Middle East.

Meanwhile, Nana Akufo-Addo has urged other Russian investors to look at Ghana as a viable destination for investment in Africa.

Nana Akufo-Addo said the stability of Ghana and the general wellbeing of the economy makes the world’s second-largest cocoa producer the best country for Russian investors seeking to expand their businesses.

Speaking to Russian businessmen on the sidelines of the Summit the Ghanaian leader said: “So, you’ll have to know that there’s a good atmosphere in Ghana for engaging with Russian companies. We want to see you there and whatever it is we need to do on our side to encourage you to look at Ghana seriously, we’re ready to do it.”

“We’ve worked these last two years to restore discipline in the management of our public finances, we’ve brought the deficit down to under 5 per cent…generally, the repositioning of the Ghanaian economy is taking place in a very rapid way and, therefore, there’s an opportunity for investing. The economy of Ghana is growing stronger and stronger, so, there are lots of possibilities and I want to encourage you to interest yourself in [coming to Ghana]. The country is stable, Ghana is the most stable country in West Africa [and] for 25 years, we’ve been a democracy,” he added.

Source: Class FM

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