Ghana hosts next German-African Summit

March 16, 2018 / Comments (0)

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Ghana will host the next German-African Business Summit in February 2019 to offer the country and the West African sub region the opportunity to showcase their economic potential to attract international business investors.

The high profile event will be coordinated by the Delegation of German Industry and Commerce (AHK) and is expected to bring about 500 high ranking business leaders and politicians and from Germany and Africa to discuss business and issues of mutual interest.

More Investments.

The German Ambassador to Ghana, Mr. Christoph Retzlaff, who made this known at the Ghanaian German Economic Association (GGEA) Business Forum in Accra last Wednesday, said many more German companies were opening regional offices in Ghana in view of the good investment climate.

He stated that in spite of the encouraging steps taken the government had to improve the economy, there were still some work to be done in the area of building stronger institutionalized exchanges with the private sector.

The forum, which had the theme “What Ghana stands to benefit from the G20 compact”, was to assess the areas possible for Ghana to gain maximum benefits from the compact and also attract investors into the economy.

Increased trade.

The ambassador indicated that the high attention the country received among German business community should also lead to increased trade from German to Ghana, adding that the entry into force of the Interim Economic Partnership Agreement between the European Union and Ghana reinforced Ghana’s exports to the eurozone. “I believe it is reasonable to say that 2017 saw many positive developments in Ghana and in Ghanaian-German relations and we have prepared the ground for an even more successful partnership in the future,” Mr. Retzlaff said.

Private sector support.

Speaking about the role of DEG in financing business between Ghana and Germany, an investment manager at DEG, a German Development bank that supports the private sector and renewable energy projects, Mr. Mackenzie Schow, said the bank was mandated to support the private sector in developing countries.

He stated that the bank offered tailor-made financing and technical assistance, identified investments plans and financial needs and provided business support services to the private sector. Mr. Schow indicated that DEG supported trade relations by establishing key contacts with other institutions, and that its Africa financial portfolio stood at €1.6 billion, with West Africa taking  €462 billion.

Improving business in Ghana.

Representing the Trade and Industry Minister, Alan Kyerematen, the Director in charge of Industrial Subcontracting and Partnership Exchange at the ministry, Mr. Paapa Bartels, gave highlights of measures the ministry had put in place to improve the country’s business environment.

He said trade between Ghana and Germany had expanded to €428 million, with import figure at €318 million against €106 million exports to Germany in 2016. He stated that the country would add value to its raw material and diversify its exports to create job opportunities for the people.

The President of the GGEA, Mr. Stephen Antwi, told the Daily Graphic that the forum was held annually to promote the overall Ghanaian-German business relations and build the business architecture between the two countries. He identified honesty and integrity as the key planks on which doing business with Germany was anchored.

Source: Daily Graphic Newspaper, March 16, 2018


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