LONDON, United Kingdom, August 25, 2021/ — The President of Ghana, H.E. Nana Akufo-Addo, will address international investors and businesses at Invest Africa’s (www.InvestAfrica.com) annual Africa Debate from 14th-16th September as part of his government’s drive to diversify the Ghanaian economy and boost foreign direct investment (FDI). The President will be accompanied by the Ministers of Finance, Energy, and Food and Agriculture at the dedicated Ghana Investment Forum on 14th September.
Despite the challenges of Covid-19, the Ghanaian economy avoided contraction in 2020 with modest growth of 0.3%. The country is now predicted to see its GDP grow by 4% in 2021, according to the African Development Bank, placing it in a strong position to attract FDI. In speaking directly with over 1000 global businesses and investors, the President and his Ministers aim to ensure that inbound investment aligns with their goals to create jobs and diversify the economy, highlighting opportunities across three key sectors: Agriculture, Energy, and Financial Services.
Agriculture is an essential pillar of Ghana’s recovery and better tapping into returns across the agriculture value chain is a clear priority for the government as it looks to mobilize the private sector to invest in agro-processing through the One-District-One-Factory initiative and a recently enacted Public-Private-Partnership law. It is hoped that private financial backing for these initiatives will redress the imbalance which currently sees the country touch $2 billion annual revenues from the $130 billion a year global chocolate industry despite supplying nearly one-fifth of the world’s cocoa.
Similar initiatives are underway in the energy sector where the expansion of renewables presents an untapped opportunity for investors. Already a net-exporter of energy to neighboring Togo, Benin, and Burkina Faso, the Minister of Energy, H.E. Matthew Opoku Prempeh, hopes to secure buy-in to the Renewable Energy Master Plan which will see energy exports increase. The Ministry of Energy is looking to raise $5.6 billion for renewable energy projects by 2030 with 80% of financing coming from the private sector.
Developing local financial services underpins efforts to create a healthy business environment. Ghana has had successes on the international bond market, raising $3 billion this year. The Ministry of Finance now aims to develop local financial services, reducing dependency on foreign debt markets. A EUR 170 million loan from the European Investment Bank has led to the creation of the Development Bank of Ghana while the Capital Market Master Plan outlines a blueprint to grow the domestic capital market. H.E. Ken Ofori-Atta, Minister of Finance, will take the opportunity of the Ghana Investment Forum to present how these reforms have improved financial options for businesses in Ghana and seek further international financial partnerships.
The President of Ghana will be joined at The Africa Debate by Dr. John Nkengasong, Director of Africa CDC, Abebe Aemro Selassie, Director, African Department, IMF and Dr. Tedros Adhanom Gebreysesus, Director General of the WHO amongst others. If you would like to join the discussions, there’s still time to secure your place. Review the full agenda and get your ticket on The Africa Debate website (https://bit.ly/3sP6vbV)
Distributed by APO Group on behalf of Invest Africa.
About The Africa Debate:
The Africa Debate is the flagship event of Invest Africa taking place from the 14th – 16th September 2021. Now in its seventh year, The Africa Debate connects the international trade and investment community with businesses across the Continent via our interactive online platform. By bringing together leading investors, businesses, policymakers, and entrepreneurs the conference aims to promote the flow of sustainable financing and investment towards catalytic projects across the Continent.
Over three days, 1000 businesses, investors, and government officials will discuss how to best support Africa’s transformative recovery as part of the ‘Great Reset’. The Forum will open on 14th September with a half-day investment summit focused on our country partner, Ghana. The following day will see industry experts, business leaders, and policymakers take the stage to debate the issues that will define Africa’s recovery before closing with a dedicated MSME financing forum on 16th September.
About Invest Africa:
Invest Africa is a leading business and investment platform with a global footprint of more than 400 member companies, comprising multinationals, private equity firms, institutional investors, development finance institutions, professional service organizations, government bodies, and entrepreneurs.
Formerly the Business Council for Africa, founded in 1956, Invest Africa leverages sixty years’ experience in Africa to provide its members with unique information and exposure to business opportunities. The organization regularly works closely with governments and investment promotion agencies across the Continent to encourage private sector support and international investment in line with national and international development objectives.
Headquartered in London, Invest Africa also operates in four additional chapter cities: Johannesburg, Cape Town, New York, and Dubai.
Our vision is to play a central and influential role in Africa’s socio-economic growth by guiding sustainable capital towards key prospects on the continent.