Australia-Ghana Investments Targets Project Financing in Ghana
In its end of year press release, the Australia-Ghana Investment Company (AGI) has signaled that it will focus more on project financing for Ghanaian businesses in 2003 and beyond. The company which was initially formed by some Ghanaian professionals in Australia has extended its membership to other Ghanaians around the world and has expertise in Occupational Health and Safety, Supply Logistics, Mineral Resource Development, Information Technology, Project Management and Financing, Biochemistry, Risk Management and Analysis, Human Resource Management and Quality Management.
The Australia-Ghana Investment Company admits that capital is the major constraint to increasing the indigenous business birth rate in Ghana and will therefore work with Financial Institutions in Australia to assist businesses. AGI’s Director of Operations and Finance, Dr. Eric Owusu-Sekyere has therefore contacted some businesses in Ghana to send proposals that will enable AGI to raise funds from the Australia Capital Market. The rationale is to help Ghanaian businesses to modernize, expand and undertake research and development to boost efficiency and contribute meaningfully towards the economic development of Ghana.
In a presentation to some members of the Australasian business and financial community, AGI’s Director of Business Development, Mr. Henry Antwi signaled that AGI is finalizing partnership arrangements with some Multinational Companies that have good track record to invest in various sectors of the Ghanaian economy. He mentioned that exploratory talks have already taken place with some officials of the Ghana Government and preparations are underway for more detailed presentations. Mr. Antwi cautioned AGI’s partners that while the company will use its expertise to ensure reasonable return on investment capital, its primary focus is technology transfer, human resource development and job creation in Ghana.
The company’s Director of Administration and Management, Mr. Charles Agyeman Manu also indicated that Ghana’s industrialization endeavours require a technically trained workforce with managerial skills and sound work ethics. As a result, AGI’s partners would be required to channel resources towards training, human capacity building and research and development. Additionally, achieving best practice corporate governance, embracing financial and performance accountability are the hallmark of the Australia-Ghana Investment Company.
AGI is spurred on by the NPP Government’s policy on “Golden Age of Business”, rule of law and sound governance principles. The Executive Management has also committed to putting its expertise in Governance Applications to the benefit of Ghana. This is because the development of Ghana rests on the shoulders of all Ghanaians and the company will therefore channel resources towards the economic development of the country in practical terms.
Enquiries about AGI’s consulting services, project financing and membership should be directed to Charles.Manu1@defence.gov.au or to the Director of Administration and Management, Australia-Ghana Investments, PO Box 3523, Parramatta, NSW 2124, Australia.
Source: Mr. Manu is also a member of the Australian