THE expatriate business community in Ghana has lauded government for stabilizing the economy within 11 months of assuming office, and creating the enabling environment for their businesses to thrive.
Expressing their confidence in the Ghanaian economy, the expatriates assured government of their commitment to meeting their obligations in Ghana to ensuring the continued protection of their investments.
Speaking at the maiden Expatriate Business Awards in Accra, graced by President Nana Akufo-Addo, the Chief Executive Officer (CEO) of Intercom Programming & Manufacturing Company (IPMC, Ghana), Mr Amar Deep Singh Hari said “Mr President we are happy to say that in the past 11months the cedi has relatively stabilized and the power has also stabilized and we are indeed grateful for your efforts.”
Mr Singh recounted how in the peak of the energy crisis, coupled with the Ghana cedi’s turbulence, the appetite for investment shrunk as many businesses including one his own were on the brink of collapse.
Govt, GIPC commended for promoting foreign businesses
Ghana, he noted provides an excellent business environment. He commended the Ghana Investment Promotion Centre (GIPC) for its efforts at promoting the interests of foreign businesses.
“I’m not aware of any other country which has established such an entity, an official institution under the office of the President to welcome foreigners and in Ghana this has been happening all these years.
“The ease of doing business has permitted us to grow even out of Ghana. Most companies of expatriates have their head offices in Ghana, we keep our families here but we spread out our businesses in neighbouring countries and we have together proven that Ghana is truly a gateway to West Africa”.
Ghana needs good governance to sustain gains
Wishing him good health and God’s protection, the IPMC boss appealed to the President to subscribe to good governance in his style of leadership.
“This nation is bound to grow, to flourish and to progress. What you need is good governance and for this we pray for God’s blessings and good health to our President,” he said.
Mr Singh described as a unique development the organisation of an Awards event specifically for expatriates working in Ghana with the aim of recognizing their contribution to the Economy of Ghana.
“An expatriate awards event has never happened in any African country before. Today, history is being written as Ghana awards its expatriates and the rest of Africa looks on with delight.
Allianz Insurance MD says Ghana is open to global businesses
Managing Director of Allianz Insurance Company Ghana Limited, Mr Prado Patrick said “Ghana is not only a business friendly environment, but also a country which is open to global businesses”.
“We trust and believe in Ghana, the atmosphere is conducive for investment, after eight years in the country, we are confident that business environment is investor-friendly,” he told this reporter.
The company, he recalled started as a non-life insurance entity and is due to expand further, launching a life insurance company before the end of 2017.
“We are now having two companies in Ghana, one non-life and the other life so it shows the trust we have in Ghana,” Mr Prado said.
The Allianz boss was confident of good prospects in 2018, noting that the political stability in Ghana was enough haven for foreign investments.
Director of Lakeside Estates says govt is doing the right things
Touting the achievements of the governing New Patriotic Party (NPP), Director of Lakeside Estates, Alhaji Salah Kweku Kalmoni said “the current President, Nana Akufo-Addo has been doing the right things since he assumed office.”
“The reduction of interest costs on Ghana’s external loans has been phenomenal; the abolition of tax on real estate was welcome news for those in that industry” he observed.
He told this paper that 2017 has been a tough year, noting that the“Ghana’s economy has been under economic decline in the last two years and has not done too well this year.