Arab-Africa Economy Summit will be a gamechanger – Hajj Mukaila Akuamoah

Hajj Mukaila Ahmed Akuamoah, Exec Dir Of SCAAE Hajj Mukaila Ahmed Akuamoah, Executive Director of SCAAE

Fri, 10 Jun 2022 Source: www.ghanaweb.com

Conference on Arab-Africa Economy takes place in Accra

Major state agencies make presentations to visiting investors

Organizers happy with outcome of deliberations

African economies have become prime investment destinations for global multilateral institutions and individual nations in the case of the latter, the rise of Chinese, Turkish, Russian and other Europeans investment footprints are a major talking point.

Whiles all of this is welcome for African countries rebuilding their economies from the impact of the COVID-19 and Russia-Ukraine crisis, the active engagement of investors from the gulf has been identified as a gamechanger.

This is the view of Hajj Mukaila Ahmed Akuamoah, he is the Executive Director of the Supreme Council for Arab-African Economy, SCAAE, an international organisation promoting mutual trade and investment between Arab and African countries.

In comments made to pressmen earlier this month at the launch of the maiden regional summit of the SCAAE, he stressed about what the Arabs bring to the table and the urgent need for local partners – public and private – to leverage on the opportunities.

“Since the Arabs are quite ready to work with their Ghanaian counterparts, we deem it right starting with the Ministry of Health where we think health is more key to look at,” he said.

A key announcement from Dr Hassan Hani Abu Zaid, President of SCAAE at the summit that took place at the plush Kempinski Hotel was a planned investment of 2.8 billion euros into Ghana’s health sector.

The Executive Director Hajj Mukaila Akuamoah further elaborated on other areas of interest: “In addition (to health investment), oil and gas and most importantly a Smart City which can create as much as over 150,000 jobs (is planned), so this programme is more focused with creating a relationship between government arms and agencies with the Supreme Council.

“In addition, SCAAE wants to partner Ghanaian group of businesses like the Association of Ghana Industries.

Their partnership will bring in up to date technologies and expertise, so that we boost production, increase productivity, create more jobs and also maximize exports ,he stressed.

Hajj Mukaila Akuamoah, himself an astute businessman, is the first Ghanaian to be appointed to the role. He delivered an address around the theme of the conference: ‘Towards a Better Arab-African Economy.'

He stated that “the rationale behind the creation of the council and the conference itself was to promote sustainable development investment between Africa and Arab countries, which mutual trade relations will inure to the benefit of both parties from the get-go.”

About the summit

The June 1, 2022 gathering pooled together investors from the Arab world who interfaced with potential partners in the public and private sectors. The event was under the auspices of the SCAAE using its local office, the Africa-Arab Investments Hub Limited.

The visiting delegation was headed by Dr Hassan Hani Abu Zaid, President of the SCAAE, who attended with the Deputy General Secretary of the Supreme Council, Sheikh Dr. Sayrafi Wadji.

The summit was chaired by Deputy Minister of Health Hon. Mahama Asei Seini.

Entities in attendance

Some of the state entities that made presentations at the event were: the Ghana Free Zones Authority, the Ghana Export Promotion Authority, the Ghana Integrated Aluminum Development Corporation, the Ghana Trade Fair Company.

Others included the Petroleum Development hub Ghana Limited, the National Service Coordinating Council and Ministry of Works & Housing

Business groups, such as the Association of Ghana Industries (AGI) and the Ghana National Chamber of Commerce (GNCC) were also represented.

Source: www.ghanaweb.com
Related Articles: