Business News Wed, 26 Mar 2003

Invest in Ghana - Apraku urges African-Americans

Dr Kofi Konadu Apraku, Minister of Trade and Industry, on Monday urged African-Americans to patronise Ghana by investing in her economy and since it offered limitless opportunities, they would never regret if they did.

"Ghana's diamonds, cocoa, timber and gold are crying for value to be added to them. Above all it has a relative political stability and her investment laws are flexible to allow the investor to make profits in line with the government's creation of wealth and property ownership policy."

Dr Apraku was speaking when an 18-member delegation of the Black Chamber of Commerce of the US, which was on a week's tour of the country to explore business investment opportunities, called on him at his office in Accra.

The tour brokered by Ghana's Ambassador to the US, Mr Alan Kyerematen is also to strengthen the bonds of trade between Ghana and the US.

Dr Apraku said Ghana was committed to bridging the gap between Ghana and the US, adding; "even though the political leadership was changed just about two years ago the economic ties have not changed and if there were only one country to invest in, then Ghana should be the obvious choice."

He said Ghanaians were peace loving, warm and hard working and were adaptable and capable of producing attractive and marketable goods.


Dr Apraku said Ghana had been able to build a solid economic foundation by supporting the private sector, boosting the economy by embarking on policies that reduced the interest rate and by creating a political environment of stability.

He said President John Agyekum Kufuor had worked hard to establish and improve the economic environment by undertaking several Presidential Initiatives. He had improved the relationship between Ghana and her neighbours and thereby opened the door to a ready market of about 280 million people in the West Africa Sub-Region.

Dr Apraku said the African Growth and Opportunity Act (AGOA) offered the best opportunity for Ghanaian manufactured goods to find their way into the US market.

The delegation, led by Mr Harry C. Alford, said there was the need to represent the interest of Ghana and Africa in the business community of US.

Mr Alford said the aim of the Chamber was to have intense and productive relations with Ghana with respect to business and investment and to be able to link Africa to the US to promote trading activities.

Source: gna