UAE will create business opportunities for Ghanaian enterprises - Ambassador

Sheikh Khalifa Al-Zaabi, the Ambassador of the United Arab Emirates (UAE) to Ghana said, the emirates will play a critical role in creating business opportunities for Ghanaian enterprises and promote sustainable growth.

He said it would create sustainable wealth that fund managers would be required to manage efficiently and competently.

Sheikh Al Zaabi was speaking at a business improvement workshop organised by the Ghana Gulf Chamber of Commerce (GGCC) in Accra.

The workshop which brought together various fund managers and institutions was to build the capacity of GGCC members and introduce them to access funds from relevant institutions to grow their businesses.

It was also part of its learning initiatives and desire for its membership to gain relevant knowledge that will help deepen their understanding in the areas of fund management and business operations.

Their main objective is to facilitate business relations between Ghana and the Gulf Countries and success in this endeavour.

The Ambassador said the UAE mission in Ghana represented their efforts to building partnership with Ghana to increase political, economic, trade and cultural relations aimed at boosting, enhancing, promoting, fostering and consolidating economic ties for mutual benefits.

Sheikh Al Zaabi said the UAE embassy had set up an Economic and Trade Unit working with all Chamber of Commerce and Investment Authorities from UAE and Ghanaian business to increase the volume of trade and investment between the two countries and was planning an investment forum in Accra to introduce opportunities to Ghanaian businesses in the UAE.

“As at 2017, trade volumes between UAE and Ghana was estimated US$2.8 billion and there are about 60 UAE Companies currently investing in Ghana”.

The Ambassador said the Unit, has in the last three months, engaged a number of Ghanaian businesses in the real estate, mining and construction, financial services, agro-businesses and information technology to explore business growth opportunities in the UAE.

He said, Dubai had become the ideal base for multinationals targeting markets and will be hosting the Expo 2020 with its strategic location, stable political environment, and prudent approach to sustainable economic development, which would be an opportunity for the two countries to strengthen ties and ensure a sustainable economic development through private enterprise.

Sheikh Al Zaabi said the UAE and the Ghanaian government’s efforts to foster economic development, a trade and investment delegation comprising 45 personalities, led by the Undersecretary of the Ministry of Economy for Foreign Trade is expected to arrive in Ghana on September 3 to explore business opportunities.

He said the objective of the delegation was to understand current market trends common to UAE and Ghana, align businesses with those in UAE, promote Ghanaian businesses to officials from UAE to enhance trade, provide a platform for networking and relationship building and promote UAE Businesses to partners in Ghana.

Dr Ibrahim Mohammed Awal, the Minister of Business Development outlined the achievement of the New Patriotic Party government for the business environment and lauded the efforts by the Central Bank to clean up the banking system.

Dr Awal challenged the UAE government to deepen their collaboration with Ghanaian businesses to rise up to push the trade balance to a proportionate figure since it was in favour of the UAE and reiterated that President Nana Addo Dankwa Akufo-Addo was desirous to see Ghana’s youth in gainful employment.

Mr Nicholas Gebera, the Manager of the BUSAC Fund said, private sector businesses could not operate efficiently and profitably in a business environment where there were challenges such as unfavourable laws, policies and regulations and inadequate infrastructure

He said the BUSAC Fund supports private sector organisations to dialogue with duty bearers (through evidence-based advocacy) to address these challenges to make the business environment more conducive.

Mr Dunwell Ekow Eku, the Deputy Fund Manager of the Skill Development Fund said it was a challenge fund, which addressed skills needs of enterprises operating in both the formal and the informal sectors of the economy.

He said the Fund was a demand-driven response to two of the most critical challenges encountered by the productive sectors in Ghana namely; the qualified and skilled labour force and the acquisition and development of technology towards increased productivity and practical innovations.

Prof Robert Ebo Hinson who took the participants through branding explained that effective personal branding was based on authenticity, while strong brands expressed an opinion.

He said in creating a personal brand, you must determine what kind of work you want to do ‘job position and industry’, and which companies and organisations will afford you the opportunity to work your passion.

Mr Stephen Amoah, Chief Executive Officer of Microfinance and Small Loans Centre also took the participants through how to access funds at his outfit.

The GGCC mission is to be the pivot around which Ghana will attract strategic local and foreign investments by focusing on its cardinal interest areas, in Partnerships , Leadership, Excellence, Global outlook and Secure investments, while leveraging the vehicles of people, strategic networks and national and international opportunities.

Its vision is to be the most productive and influential Chamber of commerce in Ghana by providing strong leadership in attracting valuable investments to our members and advocating an enabling environment working with industry champions, government and other stakeholders.