The Sub-Saharan African Director, Mr Rahul Ghosh, has called on Ghanaian businesses to explore partnerships in Singapore in order to make them competitive.
This, he said, would enable them to access not just the Singaporean market but also the Asian market for their products.
He explained that there were enormous opportunities in using start-ups, and technology companies could address Asian challenges using Ghanaian Innovation and Small and Medium scale Enterprises (SMEs) in Ghana, and must exploit it to their advantage.
“There are educational technologies and payment system solutions being offered by Ghanaians that can be exported to Singapore and other Asian countries, and Ghanaian businesses must capitalise on it,” he emphasised.
Mr Ghosh made the call during an interaction with some selected journalists in Accra last Wednesday.
The interaction was to brief the media about the Africa-Singapore Business forum, a platform for business exchange and fostering trade between Africa and Asia.
It also aimed at highlighting the mutual benefits to be drawn by both Ghana and Singapore in their partnership.
Mr Ghosh noted that both the Singaporean government and the private sector were ready to facilitate such partnership through the Enterprise Singapore.
He explained that economic diversification did not only depend on state enterprises or industries, but also a strong service sector.
The Director said Singapore stood in ready to offer the needed assistance and advice to help Ghana improve its service sector as well as the manufacturing sector.
He noted that Singapore had collaborated with Ghana in many areas for mutual co-operation, including climate change issues, and ready to do so in other areas as well.
He said the collaboration would also lead to Singapore investing in Ghana, and the investments would go in to support the government’s flagship One District-One factory (1D1F) project.
This, he said, would place SMEs in the country to realise their prospects in the four priority sectors under the African Continental Free Trade Area (AfCFTA).
The sectors, Mr Ghosh noted, were agriculture and ago-processing, automotive, pharmaceuticals, and transport and logistics.
In addition to this, he explained that work was ongoing between the Bank of Ghana (BoG), financial institutions, and telecommunication companies to support financial inclusion in the country.
BY CLIFF EKUFUL
