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UK to Increase Investments in Ghana - Minister For Africa

The United Kingdom’s Minister of State for Africa, Harriet Baldwin, has re-affirmed the United Kingdom government’s commitment to increase her investment in Ghana and ensure greater economic harmonisation between the two countries.

Recounting the economic gains and significant strides aimed at formalising and improving the Ghanaian economy in the last few years, Harriet Baldwin, together with some government officials and business leaders of the UK pledged to bring new investments and increase existing UK investments in Ghana.

Minister Harriet Baldwin made this call at the second UK-Ghana Business Council (UKGBC) meetings held at the Lancaster House in London on Tuesday.

The first meeting of the UKGBC was held in Ghana on October 14, last year.

Vice President Dr Mahamudu Bawumia is attended the meeting.

The overarching goal of the UKGBC is to match as closely as possible Ghana’s needs with UK's expertise, financing and private sector support.

The meeting has been exploring new strategies and opportunities to enhance trade and investment between the two countries in areas of agro-processing, extractives, garments/textiles, pharmaceuticals, financial sector, fintech and cyber security.

Also, among others, UKGBC is tasked to explore technical assistance on standards and customs facilitation and work to identify and breakdown constraints to greater trade and investment

The government of the UK will bring substantial investments to help complete existing projects and undertake new ones such as the Kumasi Central Market phase two, Phase two of the Kumasi international airport, the 720-bed capacity maternity block at the Komfo Anokye Teaching Hospital in Kumasi, Vester, Blues Skies, Curist Pharmaceuticals, Amandi Power projects, the extractive sector, Volta Lake Water Transport projects, and many others.

Vice President Dr. Mahamudu Bawumia, on his part, lauded the UK government’s interest in increasing economic cooperation between the two countries, and pledged the support of the government of Ghana towards achieving mutually beneficial end.

“We are very happy with the UK government’s positive assessment of the progress so far made in Ghana in the last few years and her resolve to increase investments in Ghana, and we are prepared to partner you”, he said.

Dr. Bawumia said: “We are preparing to position Ghana as the financial services hub in West Africa and increasing our strategic alliance with the UK is indispensable since London is the largest financial services centre globally.

“We will continue to be prudent in the management of our economy, ensure inclusive economic development and provide the right environment for businesses, both local and foreign to thrive,” he added.

Some government officials present at the meeting included; Mr Alan Kyerematen, the Minister of Trade and Industry, Professor George Gyan Baffour, the Minister of Planning, Mr. Yofi Grant, the Chief Executive Officer, Ghana Investment Promotion Centre, and Papa Owusu Ankomah, Ghana’s High Commissioner to UK.

Mr Adam Afriyie, UK Prime Minister’s Trade Envoy, Ms.  Rachel Turner, Director for Economic Development and Europe, DFID, Mr Ian Walker, UK High Commissioner to Ghana were also present.




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