Australian Financiers Positive About Ghana

The Australia Ghana Investments Company (AGI) held a three-hour meeting with a consortium of project financiers at the Sheraton hotel in the Australian City of Sydney on 31 January 2003. The meeting chaired by Mr. Henry Antwi, President of the Ghana Australia Business Council, was also attended by His Excellency, Dr. Barfour Adjei-Barwuah, Ambassador of the Republic of Ghana to Japan and High Commissioner to Australia. Mr. Antwi outlined the promotional efforts of the Ghana Australia Business Council and assured the financiers of the Council?s determination to identify reputable local indigenous companies which need capital injection to modernise and expand. His Excellency Dr. Adjei-Barwuah spoke about Ghana?s investment initiatives and outlined development areas where the financiers could be of assistance to Ghana. He also spoke about Ghana?s unique geographical position to service markets in the West African sub-region.

Mr. Charles Agyeman-Manu, AGI?s Director of Administration and Management told the financiers that AGI?s objective is to identify renowned and reputable financial institutions in Australia that are willing to finance projects in Ghana. He emphasized that dedicated Ghanaian professionals with the requisite operational and academic qualifications to manage projects in Ghana formed AGI. Mr. Manu further stressed that AGI understands the politics and culture of the Ghanaian environment and can use these attributes to eliminate bottlenecks for effective and efficient project management in Ghana.

AGI?s Director of Operations and Finance, Dr. Eric Owusu Sekyere presented projects on behalf of AGI and Ghanaian businesses in the USA, Australia, South Africa and Ghana. AGI?s multinational partner, Australian Biotech Ltd was represented by its Managing Director, Dr. Bruce Lin who spoke about his company?s initiative to establish a Pharmaceutical Plant in Ghana. He mentioned that Australian Biotech and AGI have completed the prefeasibility stage of the project and are currently working on a detailed business plan.

The Australian Project Financiers assured AGI that they are willing to assist in Ghana?s development efforts and will work with AGI to finance projects based on a reputation of trust, positive assistance and creative solutions. The Financiers have financed over 200 projects around the world and clarified that they will discern and select the most suitable finance facility to suit the needs of Ghanaian companies (both private and government). They will however not support projects that will lead to environmental destruction, manufacture of ammunitions and hotels that incorporate casinos or other forms of gambling.

The Ghana Australia Investment Company invites business proposals that will assist in Ghana?s developmental efforts. Private and Government organisations that need financial rescue packages should also submit proposals to AGI?s Director of Administration and Management, Mr. Charles Agyeman Manu at Charles.Manu1@defence.gov.au or to Australian Ghana Investments, PO Box 3523, Parramatta, NSW 2124, Australia.

AGI will undertake the initial appraisal of projects as to the proposal, market potential and the viability of the applicant and proposal and coordinate with the Project Financiers.

AGI would like to thank His Excellency Dr. Adjei-Barwuah, for his dedication and commitment to promote Ghana?s investment initiatives. During Dr. Barwuah?s visit to Australia, he also presented credentials to the Governor General of Australia, Dr. Peter Hollingworth, met with Australian Government Officials, some members of the Diplomatic Corp and Ghanaian communities in Canberra (Australia?s capital city) and Sydney. AGI also wishes to thank the Ghana Consul in Sydney, Mr. Kofi Osei and his staff for providing logistical support for the meeting.

Source : Dr. Eric Owusu Sekyere (AGI)
Dr. Sekyere is a member of the Australian Society for Medical Research