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Extraordinary opportunities exist in Ghana, Africa, Akufo-Addo tells American Govs’

In his address at the just concluded Winter Meeting of the National Governors Association in Washington DC, United States of America, President Nana Addo Dankwa Akufo-Addo of Ghana has called on American investors to take part in the extraordinary opportunities that exist in Ghana and on the African Continent.

According to him, “There is a lot of opportunity for American capital, technology and enterprise in Ghana, and, indeed, in Africa, and we welcome companies from all your states to participate in the exceptional opportunities that exist in our country and on the continent”.

He explained to the team of investors that Ghana was committed to seeking beneficial partnerships with American business to augment government’s aggressive development push that is expected to put the country on an even keel with other countries that have engineered their economies from poverty to prosperity in a generation.

To the American Governors, Akufo-Addo noted that “A key challenge of Ghana’s economy, like many other economies in Africa, is the infrastructural deficit, intimating that the country had launched an aggressive public-private-partnership programme to attract investment in the development both road and railway infrastructure”.

Business Hilights Ghana Bureau chief report that President Akufo-Addo is the first African leader to address US Governors at an NGA meeting.

Akufo-Addo told the governors that his government was focused on reshaping the Ghanaian economy, and “our doors are open for investments in agriculture, infrastructure and energy”.

“We are 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, the west, i.e. Cote d’Ivoire, and to the east, Togo,” he said.

He made clear his administration’s policy is to develop strategic industries out of Ghana’s abundant natural resources, including bauxite and iron ore, saying “We shall, shortly, establish an Integrated Bauxite/Aluminium Development Authority to assemble the relevant financial resources for the systematic exploitation and development of our bauxite deposits.”

“We have decided to exploit our substantial iron ore and manganese deposits, situated in the Western and Northern regions of our country, to build an integrated steel industry to serve the needs of our country and region”.

In his further submission, “the exigencies of the time demanded that Ghana and America developed a new form of relations that was characterised by a substantial increase in trade and investment co-operation”.

“This is the way to develop healthy relations between our two countries, and, thereby, strengthen our economies, and raise the living standards of our two peoples.”

Akufo-Addo stressed that Africa was rising, and that six of the world’s ten fastest growing economies, this year, are on the Continent, noting that “We are rich in natural resources, and in possession of nearly 30 percent of the earth’s remaining mineral resources. We have a vibrant young population, and, though we still have important security challenges, we are more at peace than before”.