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SOUTH AFRICA AND GHANA AGREED TO BOOST TRADE AND INVESTMENT

The President of Ghana, Nana Addo Danquah Akufo-Addo has agreed on a strategic partnership between Ghana and South Africa.

This was to promote their bilateral relations to boost trade and investments between the two counties.

This occurred yesterday as the President of South Africa, Cyril Ramaphosa and the President of Ghana, Nana Akufo- Addo spoke at the Ghana- South Africa business forum held in Pretoria as part of President Nana Addo’s visit to South Africa.

With West Africa and Africa’s populations set to reach some 500 million and 2 billion, respectively, in 20 years, President Akufo-Addo noted that genuine regional and continental markets in Africa should be in the mutual interests of South Africa, the number one economy on the continent, and Ghana, the gateway to the markets of West Africa.

According to President Akufo- Addo, these markets will present immense opportunities to bring prosperity to the people with hard work, creativity and enterprise.

The President again added, “My visit here is a signal of how much we welcome such a partnership.

Based on the theme for the forum, “Advancing Industrialization through trade and investment”, President Akufo-Addo noted that future economy of Africa cannot be the raw material producing and exporting economy of the past, and must depend on value-addition and industrial activities.

The president noted how crucial the role of the private sector is. He again stated his administration for the past seventeen month, has set about putting in place the measures needed to reduce the cost of doing business and improve the business environment.

This has resulted in the growing stability of the country’s macro-economy and the cedi, single-digit inflation, and an abolition of nuisance taxes whose aim is to shift the focus of the economy from taxation to production, he stressed.

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The President of Ghana, Nana Akufo- Addo and President of South Africa, Cyril Ramaphosa with their spouses

The president said, “I am, thus, notifying the business community in the South Africa, to take advantage of the growing business-friendly climate in the country, to invest in Ghana. Our flagship policies of “One District, One Factory”“, One Village, One Dam”, and the “Programme for Planting for Food and Jobs” describe areas of opportunity, which I commend to you, as I do areas in the development of renewable energy and ICT growth”.

To facilitate and expedite South African investments in our economy, President Akufo-Addo told the South African business community that the Ghana Investment Promotion Centre (GIPC) has established a dedicated South African desk at the Centre.

President Akufo Addo guaranteed South African business leaders on the peace, security and stability Ghana have, a country where the principles of democratic accountability are now firmly entrenched in its body politic, and where the separation of powers is real in promoting accountable governance under the rule of law.

President Akufo-Addo was expectant that the Ghana-South Africa Business Forum will help facilitate the agreement between Ghanaian and South African companies, and create the common platform that generates ideas and encourages them into success.

He concluded saying, “It is my hope that exchanges of this sort will enable the strong relations between Ghana and South Africa to grow even stronger”.

 

Source: Augustina Tetteh/Pinkfmonlinegh.com

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