Invest in Ghana to take advantage of AfCFTA… Trade Minister to Indian companies

Ghana has called on Indian manufacturing companies to invest in Ghana in order to take advantage of the African Continental Free Trade Area (AfCFTA) initiative.

The Minister of Trade and Industry, Mr Alan Kwadwo Kyerematen, who touted India’s huge investment in the Ghanaian economy said with Ghana hosting AfCFTA, it was an opportunity for India to take advantage of the continental body by establishing more Indian industries and manufacturing companies.

Mr Kyerematen was speaking at a reception hosted by the Indian High Commission in Accra to mark the country’s 75th independence anniversary.

He mentioned existing Indian investments in Ghana, such as TATA, Ashok Leyland, Mahindra and Mahindra, Escorts, Larson & Toubro, NIIT, Shapoorji Pallonji, as well as several pharmaceutical companies which he said have contributed immensely to the growth of the country.

“These investments have undoubtedly contributed immensely to the Ghanaian economy with the creation of employment for Ghanaians and the strengthening of the private sector, which are essential components for the development of any country,” Mr Kyerematen added.

He said Ghana was one of the top three African recipients of India’s Line of Credit, saying, India has been participating in Ghana’s development by providing assistance in setting up projects in the spirit of South-South cooperation through provision of Lines of Credit or grants.

The minister acknowledged the efforts of the founding fathers of Ghana and India whose vision led to a strong bond of friendship dating back to the early 1950s when Ghana’s first President, Osagyefo Dr Kwame Nkrumah, struck a strong bond of friendship with the late Jawaharlal Nehru, India’s first Prime Minister.

“Ghana and India share a lot in common, that is our struggle for independence from colonial rule, our shared democratic values and our common challenges to mention a few. We cherish the longstanding friendship and cooperation between our two countries.”

“I wish to recall in this regard, the visit of the Minister of State for External Affairs, Shri Vellamvelley Muraleedharan to Ghana in 2021, to participate in the inauguration of the second term of President Nana Addo Dankwa Akufo-Addo as well as the visit of President Nana Addo Dankwa Akufo-Addo to India in March 2018 to participate in the maiden Conference of the International Solar Alliance held in New Delhi.”

Earlier, the India High Commissioner in Ghana, Sugandh Rajaram, praised the long standing relationship between the two countries, peoples and government, and reiterated India’s commitment to deepen such friendship in the years to come.

He said India with a population of 1.4 billion occupying a subcontinent would continue to lead the world in food export to the rest of the world to address the issue of hunger and malnutrition.

Mr Rajaram said India will continue to be Ghana’s largest trading partners and therefore would be happy to have more Indian companies being set up in Ghana.

The night event was characterised by India’s largest entertainment group, Bollywood Dancers, stealing the show to thrill members of the diplomatic corps, Indian community and the government delegation led by Mr Kyerematen who delivered President Nana Addo Dankwa Akufo-Addo’s good will message on behalf of the people of Ghana on the occasion of the 75th independence of the Republic of India.

Also in attendance were members of the Council of State including Mr E.T. Mensah and former First Lady, Nana Konadu Agyemang Rawlings.

BY NORMAN COOPER

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