President Akufo-Addo Welcomes Strategic Partnership Between Ghana And South Africa
The President of the Republic, Nana Addo Dankwa Akufo-Addo, says a
strategic partnership between Ghana and South Africa is of the utmost
importance, as it will empower the business communities of the two
countries, as well as enhance the trade and investment relations between
them.
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.
“These markets will present immense opportunities to
bring prosperity to our peoples with hard work, creativity and
enterprise,” the President said, adding that “my visit here is a signal
of how much we welcome such a partnership,” he said.
President
Akufo-Addo made this known on Thursday, 5th July, 2018, when he spoke at
the Ghana-South Africa Business Forum, held in Pretoria, as part of his
State Visit of South Africa, the first State visit paid by a President
to South Africa under the presidency of President Cyril Ramaphosa.
Touching on the theme for the summit, “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 be based on value-addition and industrial
activities.
The role of the private sector, to this end, the
President noted, is crucial. That is why over the past 17 months in
office, his administration has set about putting in place the measures
needed to reduce the cost of doing business and improve the business
environment.
This, he stressed, 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.
Additionally,
the President noted that his government has implemented specific
measures such as the introduction of an e-business registration system, a
paperless port clearance system, a digital addressing system, a mobile
interoperability system, and a national identification card system, to
formalise the Ghanaian economy, reduce the cost of doing business, and
facilitate interaction between businesses and clients.
“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,” he said.
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.
On the country’s
infrastructural deficit, he was hopeful that with solid private sector
participation, “we can develop a modern railway network with strong
production centre linkages and with the potential to connect us to our
neighbours to the north, i.e. Burkina Faso, to the west, i.e. Cote
d’Ivoire, and to the east, i.e. Togo. We believe that this is an area
where South Africa technology and expertise would be very welcome.”
The President continued, “There are several projects in roads, water
transport, industry, manufacturing, agriculture, petroleum and gas,
renewable energy, the exploitation of our mineral wealth of bauxite,
iron ore and gold, and the ICT sector, amongst others, which are being
structured to attract private sector financing.”
He assured South
African business leaders that Ghana is a haven of peace, security and
stability, 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.
“We are keen on attracting foreign direct investments to
exploit our country’s great potential on mutually satisfactory terms.
Investments are protected in fact and in law,” he said.
President
Akufo-Addo was expectant that the Ghana-South Africa Business Forum
will help facilitate partnerships between Ghanaian and South African
companies, and create the common platform that generates ideas and
nurtures them into success.
“It is my hope that exchanges of
this sort will enable the strong relations between Ghana and South
Africa to grow even stronger,” he concluded.
No comments
Your comments and Encouragement are welcome