Ghana’s Vice President, Dr. Mahamudu Bawumia, has urged foreign investors to capitalize on the investment opportunities created in various sectors of the Ghanaian economy. Speaking at the 3rd Ghana Investments and Opportunities Summit in London on June 6, 2023, Dr. Bawumia emphasized that Ghana is back on track and working to regain the economic trajectory it was on before the Covid-19 pandemic.
Acknowledging the challenges posed by Covid-19, climate change, disruptions in the global supply chain, and geopolitical conflicts, Dr. Bawumia highlighted the adverse effects these issues have had on economies worldwide, leading to recessions in several developed and developing countries. However, he assured investors that Ghana’s government is committed to refocusing on economic growth and striving to return to pre-pandemic growth numbers.
The Vice President underscored the government’s dedication to balancing sound fiscal management with strategic public investments that unlock growth. He pointed out that Ghana boasts one of West Africa’s most prominent and efficient ports, Tema, which serves as a critical gateway for landlocked ECOWAS countries, as well as Takoradi port on the western coast, which caters to logistics, oil and gas, and related industries.
Dr. Bawumia highlighted the Brownfield, Greenfield, and Public Private Partnerships as viable and bankable projects championed by the private sector in Ghana and abroad. The government’s role, he explained, is that of a facilitator, removing obstacles and directing limited resources toward strategic sectors and projects while relying on the private sector as the engine of economic growth.
In his keynote address, the Vice President called on foreign investors to support the government’s agenda of economic growth and act as catalysts in unlocking Ghana’s vast potential. He stated, “We think this is an exciting time to be part of Ghana’s economic growth.”
The investment summit aims to demonstrate that Ghana is indeed back on track, and significant opportunities exist for profitable private investments in key sectors. As the country continues its path towards full economic recovery, Dr. Bawumia’s invitation to foreign investors highlights the government’s commitment to creating an enabling environment for businesses and fostering partnerships that will contribute to Ghana’s sustained growth and development.
