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Business News Wed, 19 Aug 2015

Minister woos investors into mining industry

Mr Kweku Ricketts Hagan, Deputy Minister of Trade and Industry, has called on the South Africa investors to channel their investments into supplies of chemical inputs and relevant equipment to support mining firms.

He also said there are good opportunities in the area of refineries and processing of jewelry.

Mr Hagan was speaking at the opening of a two-day South Africa-Ghana trade investment seminar in Accra.

The seminar was as a result of an Outward Selling and Investment Mission led by the South African Deputy Minister of Trade and Industry to Ghana.

It was also to increase trade and investment, and to deepen relations between South Africa and Ghana.

He said Ghana and South Africa had a lot in common when it comes to mining and capital equipment, than any other sector.

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“Our shared experiences in this sector provides a good platform for further cooperation and growth of investment in Ghana,” he added.

He said government would continue to design systems and business models to enable the country regulate small scale mining activities.

The Deputy Minister said the Ghanaian economy holds the potential for business growth, looking at the business delegation visiting the country.

He said both countries had maintained a cordial relations for a long time on political and social ties and these have grown from strength to strength over the years and the benefit continued to manifest in the welfare of its people.

He said government would continue to create the enabling environment for investors to partner with locals to develop their businesses to improve on the economies of both countries.

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He said Ghana had embarked on a drive to promote manufacturing base and export-led economy.

“Ghana is attracting a lot of investments into the economy, even though it is facing short-term challenges,” he added.

Mr Mzwandile Masina, the South African Deputy Minister of Trade and Industry, said the trade mission served as a means for companies, which are looking for investment opportunities to penetrate Ghana.

He said trade relations between South Africa and Ghana had recorded an upward trend from R2.6 billion to R10.8 billion, from 2010 to 2014.

He said the mission would serve as an ideal opportunity for South African companies to export value-added products and services to Ghana.

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The South African Deputy Minister said more than 30 business delegation were on the mission are ready to do business and explore investment opportunities in Ghana.

He said the countries would work together to address trade barriers to enable smooth business operations to improve on their economies.

“The African time has come, since it position the continent for global transformation,” he added.

He expressed the hope that the event would create the platform to explore ideas to develop business cooperation.

Ms Lulama Marytheresa Xingwana, the High Commissioner of South Africa, said with the seminar, more partnerships would be to promote trade and investments.

She said with the launch of the direct flight from Accra to Washington, it would position Ghana as the right destination to the world.

She said the South African Airways had also partner with the Africa World Airlines to create job opportunities for Ghanaians.

Sectors targeted for the mission are agriculture and agro-processing, build environment professionals, infrastructure, furniture and wood processing energy and mining.

Source: GNA