ICEG calls for integration of African economies

The leadership of the Institute of Certified Economists of Ghana (ICEG) paid a courtesy call on the South African High Commissioner to Ghana,Madam Lulu Xingwana in Accra.

As part of the discussion, Mr. Daniel Amateye Anim, the Chief Executive Officer of ICEG called for the integration of the African economies.

He stated that Africa is an emerging economy, full of embryonic development potential, and it is critical for African countries to integrate their economies. Such a move will strategically position the continent to get fair terms of trade on the global market; it will enhance the value of their respective local currencies, create sustainable jobs which will improve living standards of people thereby reducing the level of poverty on the continent.

Mr. Anim further stated that, forming strategic partnership with emerging economies like China, Brazil and India as well as USA and Europe is very key and critical, especially, attracting foreign Direct investment (FDI) to the continent, yet it ought to be done in a manner that it will yield a win- win situation.

Madam Lulu Xingwana, on her part agreed that economic integration will indeed help the continent to add value to her produce, and create the financial system that will support businesses on the continent. She further stated that there are several business opportunities in South Africa in the area of agriculture, agro-processing, construction, manufacturing and the services for Ghanaian businesses to explore and take advantage of.

She said this could be achieved by visiting South Africa to interact with the businesses and entrepreneurs on the ground. She however encourages businesses to join the Ghana-South African Chamber of Commerce. This will help in sharing vital business information for mutual benefit.

The President of the Institute of Certified Economists, Prof. Peter Tuffuor Asubonteng who led the delegation to South Africa High Commission in Accra, said that the success of the new global economy requires much more than simply responding to market demands. Prof. Asubonteng reiterated that the information intensified revolution, competition; globalization and commercialization of services and compressed life cycle strategy have created a new business environment with unprecedented challenges. He said businesses today increasingly require professionals who can integrate knowledge from multiple source models and add new value in a global, knowledge- based economy; as a result ICEG has introduced a well-researched, content rich short courses that will enhance and upgrade the knowledge of professionals in the corporate environment.

He further stated that, ICEG is ever ready to make its services available with regard to conducting research on behalf of the high commission. He emphasized the need for good working relations between ICEG and South Africa High Commission for mutual benefits.

Mr. Daniel Anim, in his final submission stated that, it is about time Africa must seriously start breeding young entrepreneurs and supporting local businesses to grow and create sustainable jobs for the citizens. He therefore task African leaders to provide strong leadership that will ensure efficient management of public finance and natural resources.

Mr. Thwale Fanie, First Secretary: political, added that the high commission is ready to having a good working relations with the Institute of Certified Economists.

The Head of research and policy analysis at ICEG, Mr. Gideon Amissah emphasized the need for African countries to invest heavily into research and development which is the surest way of executing development and hence achieving the Sustainable Development Goals.