President Nana Addo Dankwa Akufo-Addo, will on Friday launch his government’s flagship policy popularly termed ”One District One Factory” at Ekumfi in the Central Region.

The program will be the formal launch of the implementation of the One District One Factory policy.

This will be in fulfilment of a pledge by President Akufo-Addo to see the actualization of the industrialization of Ghana as part of the transformation process he envisages for the country.

The policy, when implemented will create the environment conducive for each local government areas to own factories relative to their well-endowed resources and capacity to provide jobs and wealth for the country.

The launch will include a sod-cutting to begin the construction of the Ekumfi Fruit Processing Company factory which will process pineapples for the local and international market. Currently the company cultivates the fruit and seeks to expand its operations into processing.

Managing Director of the company, Daniel Kwarteng, said, “The introduction of the policy has motivated us to speed up and implement our plans of processing the fruits into various other products”

The program starts with a formal visit by the President to the farm site of the company. This will be followed by a review of the exhibition highlighting some of the various opportunities available in the districts across the country.

The launch will be climaxed with a durbar to be addressed by the President and some invited guests.

This will be followed by a sod-cutting ceremony by the President assisted by the Ekumfihene, at the factory grounds.

Source: myjoyonline.com

The Federation of Indian Chamber of Commerce and Industry has applauded Ghana for creating a very attractive business environment for Indian businesses. It said the nation had lived up to its accolade as the gateway to Africa and West Africa in particular.

Mr. Susnato Sen, Head of the Africa Region and Senior Director of the Federation of Indian Chamber of Commerce and Industry (FICCI), made the remarks when he led a group of FICCI members to meet the Vice President Dr. Mahamudu Bawumia at the Flagstaff House in Accra, ahead of an Indian expo to be organised in the country.

“Ghana is a very attractive destination for us, because of your long history of stability and the business climate here. Stability is crucial for us, and we are happy to hold this expo here to interact with our Ghanaian counterparts and explore business opportunities,” Mr. Sen observed.The delegation was accompanied by Ambassador Michael A. N. N. Oquaye, Ghana’s High Commissioner to India.

The team is in the country as part of a three-day exposition dubbed: “Namaskar 2007”, which aims at branding India as a leading economic player and partner of the West African sub-region, to enhance a two-way trade relationship.The event is being organised by the FICCI, in collaboration with the Association of Ghana Industries (AGI) and the Ghana National Chamber of Commerce and Industry (GNCCI), which attracted more than 60 Indian companies.

The business expo has lined up other activities such as a two-day exhibition on agriculture and food processing, construction, power, technology and textiles, and education. Mr. Sen noted that the expo would help facilitate India investment drive in Ghana and neighbouring West African countries and create awareness about the best Indian technologies and products in the region as well as explore opportunities offered by the sub-region.He said: “Successful regional shows have already been held in the central and southern regions of Africa. ‘Namaskar Africa’ in Ghana focuses on the West Africa regional block”.

The Business Magnate noted that the expo targeted Ghana and thus, expected business delegations from neighbouring countries like Benin, Burkina Faso, Cameroon, Congo, Cote d’Ivoire, Nigeria, Senegal, Sierra-Leone and Togo. Vice President Bawumia recounted the historic relationship that existed between the two nations and urged the Indian delegation to take advantage of the pro-business agenda of the government.He said: “As we have stated from the very beginning, our government is pursuing an agenda of economic transformation based on strong private sector participation and anchored on sound economic fundamentals”.

According to the Vice President, there were space and opportunities for cooperation between the Ghanaian and Indian businesses and urged them to explore the many opportunities available in Ghana. “I’m sure members of the AGI and GNCCI will be ready to sit down with you and agree on mutually beneficial arrangements,” he stated.The Federation of Indian Chambers of Commerce and Industry is an association of business organisations in India.It was established in 1927 as a non-governmental organisation and draws its membership from the corporate sector, both private and public.

The Chamber has an indirect membership of more than 2,500,000 companies from various regional chambers of commerce.

Source: ghananewsagency.org

Ghana and India are expected to explore investment opportunities in the areas of infrastructure and construction, healthcare and pharmaceuticals, as well as agriculture in an upcoming two-day Exhibition with about sixty-three (63) companies expected in the country.

The India-West Africa Exhibition and Business forum, dubbed, ‘Namaskar Africa 2017’ is a regional flagship business initiative being organized by the Federation of Indian Chambers of Commerce and Industry (FICCI).

The two-day exhibition, which is slated for August 16-17,2017 will assemble FICCI companies from India comprising JMC Projects, Tata Africa, Escorts, International Tractors Limited, John Deere among others.

According to Susnato Sen, a senior director of the Federation of Indian Chambers of Commerce and Industry (FICCI) the idea behind the exhibition is “to share the technical expertise and experience of Indian companies in sectors which are important for both Ghana as well as India.”

‘Namaskar Africa’, 2017 is an opportunity to enhance and diversify India’s economic engagement with the West Africa region and position Ghana as a gateway and preferred destination for investment and trade.

The leaders of both countries, during recent exchange of visits, have emphasized the need to leverage the two countries’ economies interactions to US$5billion by 2020.

India’s export matrix clearly indicates the potential of the Ghanaian market to absorb increased exports from India as well as the ability of Indian industry to export the same.

Officials of the event also reckon that, with Ghana preparing to implement the ECOWAS Common External Tariff, it presents a major platform for a Customs Union that facilitates free trade and ensures greater regional economic integration and a wider reach in the sub-region using the West African country as the base.

Over the years, ‘Namaskar Africa’ has established itself as a premier business networking platform for industry leaders from India and across Africa catering to trade, investment and technology transfer requirements.

This year’s edition will have sectoral thrust on infrastructure and construction, healthcare and pharmaceuticals, agriculture and food processing, energy and non-renewables.

Source: thebftonline.com

The Ghana Investment Promotion Center (GIPC) on Tuesday held a forum for young entrepreneurs to throw more light on how the Centre works with entrepreneurs.

The forum under the theme, ‘connect-accelerate-grow,’ was aimed at sharing GIPC’s strategy and to take the young entrepreneurs through the GIPC act.

Chief Executive Officer of GIPC Yofi Grant indicated that with Ghana having a very youthful population, harnessing the entrepreneurial potential of the youth will be key in accelerating economic growth.

He encouraged the participants to help make Ghana the best place to do business on the African continent.

Mr. Grant noted that Ghana’s smart, educated youth were a rich dividend that continue to be the engine of innovation and growth for the country.

“You are in the position to market the country. You have the dreams, drive, and determination to move this country even higher. It takes cooperation, partnerships to make great things happen,” he told the participants.

He emphasised that the Centre was created to support all types of investment in Ghana, domestic and foreign, saying “GIPC facilitates investments that helps our country forge ahead both local and international – it is important that Ghanaians invest in their country and we are here to help make sure that happens.”

The event was also to sensitize young entrepreneurs, create avenues to interact with captains of industry and to promote dialogue between the private sector and government.

On her part General Manager of Venture Capital, Hamdiya Ismaila spoke on ways that SME’s could gain access to capital.

She said SME’s need to have well thought through plans to make access to funding much easier.

Present at the mentorship session were, Daniel McKorley, CEO of McDan shipping, Richard Adjei, CEO of Kasapreko, Constance Swaniker, CEO of Accents and Arts, Alex Bram, CEO of Hubtel and many others.

The GIPC also indicated that aspects of the GIPC Act was under review to enhance activities of the Center and improve investments in the country.

Through this forum, business owners can also learn about the GIPC and how it can support their endeavours in forming a partnership.

The event was attended by over 300 businesses owned by young entrepreneurs who were also introduced to the GIPC, its functions, and how the agency was available to provide support for growing businesses through various service offerings.

  Source: myjoyonline.com

Government paid out about GH₵54million as refund to businesses under the new tax exemption policy as at June this year. The policy aimed at checking abuses and revenue losses requires that businesses make down payments of all tax obligations and subsequently apply for a refund. Director of the Finance Sector Division of the Ministry of Finance, Samson Akligoh said the policy is important in resetting the economy for successful business operations.

Mr. Akligoh said, “Yes there are challenges and which the Ministry is aware of, but I think the response mechanisms show the new policy regime has also been swift.”

He said, “the concern is that we have to position Ghana as the most business friendly environment in Africa and we can do that, but this will be threatened if all of us take it for granted that those who abuse taxes under this regime should be protected because it will inconvenient the good people who pay the tax.”

“The result of not curbing this behavior from the policy side is very clear,” he said. Mr. Akligoh was speaking at the ‘Ghana on The Go CEO’s Breakfast Meeting’ series organized by the Ghana Investment Promotion Centre (GIPC).

Giving a brief on the tax exemptions application process at the GIPC, the Chief Executive Officer, Yofi Grant, said the Centre was mandated under section 26 of the GIPC Act to grant import duty and Value Added Tax (VAT) exemptions to qualified companies registered with Centre.

He said, “A typical approved strategic investment has incentives which include exemptions from the payment of import duty and VAT on plant machinery and equipment specifically for the project, construction materials specifically for the project, and on locally purchased construction materials and equipment required specifically for the project.”

Mr Grant, however, urged participants at the meeting not to hesitate, and share their experiences with the new tax regime to better inform government on how to make the business environment more convenient.

This edition of the quarterly event was titled, ‘Policy Update: Ghana’s Tax Exemption Regime’ and convened to update the business and diplomatic community on the implementation of the new tax exemptions policy introduced in April 2017.

The meeting also provided, diplomats, and business owners an open platform to engage policy makers on their experience with the new regulations.

Source: myjoyonline.com

The President of Malta, Marie-Louise Coleiro Preca, is in Ghana together with her spouse to strengthen bilateral relations and enhance economic cooperation between the two nations.

Ghana and Malta hope to introduce products and services in each other’s economies.

The Vice President, Mahamudu Bawumia on Monday received and welcomed the President of the Republic of Malta and his spouse into the country when they touched down at the Kotoka International Airport in Accra.

The Malta President and her Spouse attended a church service at Holy Spirit Cathedral in Adabraka and later met President Nana Akufo-Addo at the Flag Staff House on Tuesday.

 As part of their 3-day visit, the Malta President will lead delegation of companies in Malta who represent a range of business interests to explore opportunities emerging in Africa and invest in these opportunities.

They will also tour Kumasi and Cape Coast, where they will call on the Asantehene, Otumfuo Osei Tutu II at the Manhyia Palace and visit the HopeXChange Medical Centre respectively.

The Government of Malta contributed to the setting up of the HopeXchange, an 80-bed hospital in Kumasi whilst other several Maltese initiatives are underway in various parts of Africa, including orphanages and water engineering and capacity-building projects in IT.

Ghana is the first country in recent history to have invited a sitting Maltese Head of State and also the first sub-Saharan country to establish a High Commission in Malta.

Source: myjoyonline.com