Ghana endowed to spearhead Africa’s economic emancipation – Yofi Grant

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The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr Yofi Grant has noted that Ghana is well endowed with human and natural resources to spearhead Africa’s economic emancipation.

He said with the country hosting the African Continental Free Trade Area (ACFTA) Secretariat, it was imperative that individuals and businesses took advantage of the opportunity to strike partnerships for growth.

Mr Grant made the remarks at the opening of the maiden Spark Up Summit in Accra on Tuesday.

He said the investment initiative was to promote Foreign Direct Investment (FDI) in the country to stimulate economic growth in view of the effects of the COVID-19 pandemic.

The GIPC Boss said it was time Ghana moved away from exportation of raw materials to increase productivity and value addition.

He noted that the country was geographically well positioned to spearhead Africa’s economic emancipation and wealth creation due to its stable political and democratic environment.

Mr Grant said despite the COVID-19 pandemic that distracted many global economies, President Nana Addo Dankwa Akufo-Addo had provided leadership, which brought in $2.65 billion worth of FDI into the country last year.

He said since 2017, the country’s economy had witnessed great resilience, posting seven per cent average economic growth with favourable climate for doing business due to visionary bilateral and multilateral initiatives undertaken by the Government.

The GIPC Boss stated that the $2.65 billion worth of investment went into various sectors of the economy, including agriculture, manufacturing, oil and gas and services and estimated to create 27,000 direct jobs for the youth.

The Spark Up Summit is being held on the theme,”Maximising Ghana’s Investment Potential,” under the auspices of the Ghana Investment Promotion Centre, the Ministry of Information and other government agencies.

The event brought together captains of industry, policy-makers, business owners, Heads of state agencies and Ministers of State to deliberate and brainstorm on opportunities and challenges in investing in the country and proffer solutions to them.