Invest in Germany, Ghanaians urged

Mrs Lydia Gohorey, Executive Secretary for the Ghana German Economic Association, has called on interested Ghanaian investors to take advantage of the new trade finance deal being offered by the Association to expand their businesses.

She said due to difficulties in accessing credit and the high cost of credit, many Ghanaian businesses with great potential have not been able to attain their full potential.

Mrs Gohorey, who was speaking at the Ghana German Economic Association (GGEA) meeting held at Novotel, said it was due to this and other reasons that the joint GGEA and the Lenz Trade Finance facility was launched to facilitate the financial needs of Ghanaian businesses seeking to export or import some goods to Germany.

She called on interested individuals and businesses to visit the offices of the GGEA to acquaint themselves with the trade finance facility.

Mr Ruediger John, the German Ambassador, in a speech read on his behalf said, due to the growing relations between Ghana and Germany, two German ministers of state in the health and development sectors, would soon visit Ghana.

He said the small and medium scale enterprises sector in Germany has a lot to offer Ghanaian investors and interested companies can come for assistance through the GGEA or any related outfit of the German Embassy.

Mr Carsten Ehlers, a representative of the German trade and Invest, said about a year ago, his office opened a new office in Ghana to serve the growing needs of Ghana and West African investors.

He said the main goal of his outfit is to help African investors to gain access to the German market.

Mr Ehlers said German exports to Ghana currently stands at 270 million euros which is unlike that of Nigeria which stands at 1.4 billion euros and South Africa which is currently at 8.3 billion euros.

He said in Germany, there are several opportunities in the construction, food and beverage, infrastructure, health, mining and oil, and interested Ghanaian investors can visit his office to discuss areas of interest.

Mr Kofi Biney of the GIZ reminded potential Ghanaian exporters on the need to understand the existing market situation in Europe; craft appropriate strategies to remain competitive; and acquaint themselves with the current list of Ghanaian agro products needed in Europe.

Mr Eugene Adarkwa-Addae of the Ghana Standards Authority said due to globalisation and the liberalisation of markets across the world, many exporting firms would face stiffer competition hence the need for Ghanaian firms to meet the certification and quality assessment benchmarks of the Ghana Standards Authority.

“Conduct your business as usual and face the challenge of diminishing sales and profits,” he said.