Kufuor encourages French businesses to invest in Ghana

Accra, June 12, GNA - President John Agyekum Kufuor on Thursday encouraged French businesses to put their money into Ghana's economy, assuring them of the safety of their investments. He told them that the country had the right legal framework that should take away any anxieties about the security of their money. "This is the place to be. We are ready and have the capacity to engage and enter into serious partnerships." President Kufuor was interacting with a high-level French business group in the country on an economic mission to explore the opportunities of establishing a strong presence in Ghana's economy at the Credentials Hall of the Castle, Osu.

Mr Patrick Lucas, President of the French Business Confederation (MEDEF), led the group, who are into banking and finance, insurance, information technology, water, energy, telecommunications and infrastructure engineering.

They have already met with officials of the Finance Ministry, the Bank of Ghana, the Ghana Investment Promotion Centre (GIPC) and the Private Enterprises Foundation (PEF). There are already about 20 French enterprises located in Ghana, including the Golden Exotics, a subsidiary of "Compagnie Fruiti=E8res", a Marseilles-based company, specializing in the production and export of bananas and pineapples, and SG-SSB, subsidiary of Soci=E9t=E9 G=E9n=E9rale."

President Kufuor asked Europe, which has had the longest association with Africa, to join with the continent so that they would together create strategic production lines to enter into the global market.

"If we are to move ahead, we need partnerships and inter-dependence. In all such engagements, the objective should be for the benefit of both parties." Responding to a question on what Ghana was doing to make its crude oil discovery a blessing, President Kufuor, said the Government was working on a legislation to ensure best practices. Contracts signed with the oil companies must respect the interests of Ghana.

Mr Lucas said they were keen to strengthen the French business presence in the country and to deepen the relationship between MEDEF and its Ghanaian counterpart, the PEF. 12 June 08