19th Ghana-Africa Business awards held
Business communities across Africa have been urged to take advantage of the opportunities in Ghana and AfCFTA’s transformative potential.
The call was made by Samuel Okudzeto Ablakwa, Minister of Foreign Affairs and Regional Integration in a keynote address read on his behalf by Mrs. Nana Kraah Ansah Adjei, Director, Economic, Trade and Investment Bureau of the Ministry of Foreign Affairs and Regional Integration at the recent 19th Ghana-Africa Business Awards Dinner.
The Ghana-Africa Business Awards Scheme is implemented by Top Brass Ghana under the auspices of the Ministry of Foreign Affairs and Regional Integration.
The Director of Top Brass Ghana, Isaac Dakwa, who is a retired Director of the Ministry of Trade and Industry indicated that the Ghana-Africa Business Awards Scheme is organised under the theme: “Accelerating Ghana’s Economic Development through increased Intra-Africa Trade and Investment.”
He added that the Ghana-Africa Business Awards ceremony forms part of the celebration in Ghana of Africa Day.
The Minister noted that recent geopolitical dynamics are reshaping the international trade landscape, with rising protectionism and tariff impositions, particularly from major economies like the United States of America, creating new imperatives for African nations to look inward and strengthen our economic bonds.
He re-echoed President John Dramani Mahama’s clarion call for African unity, during the recent Africa Day commemoration, a unity anchored on value addition, industrialisation, free movement of goods and services, economic prosperity, and ultimately, self-reliance.
Mr Ablakwa stressed that Ghana must prioritise value addition at every level of our economy, observing that true African self-reliance will only be achieved when we add value to our raw materials and trade among ourselves rather than exporting raw commodities to foreign markets only to import finished products at premium prices.
He pointed out that the success story of AfCFTA depends on Africa’s collective commitment to eliminating trade barriers, harmonising regulations, and facilitating seamless movement of goods, services and capital across our borders.
Mr Ablakwa indicated that the Ministry of Foreign Affairs have, over the years, been working tirelessly with various industry associations and continue to provide opportunities for Ghanaian businesses to attend and participate in numerous international conferences, exhibitions and fora across Africa and beyond.
He expressed his fervent belief that these opportunities have translated into fostering joint ventures, partnerships and networking with foreign counterparts, while experiences gained have contributed to improving businesses through benchmarking and knowledge sharing.
The Foreign Minister entreated Ghanaian as well as African businessmen to engage in the spirit of collaboration, innovation and unwavering commitment to making AfCFTA not just a continental agreement, but a living engine of Africa’s collective prosperity.
The Chairman for the occasion was Mr. Emmanuel Doni-Kwame, a former Ag. Chief Executive of the Ghana National Chamber of Commerce and Industry, and current Secretary-General of the International Chamber of Commerce, Ghana.
Mr. Doni-Kwame noted, with concern, that intra-African trade, although showing an increase in recent years, was still low in comparison with Africa’s trade with Europe, Asia and America.
He said it was in pursuit of efforts to reverse this regrettable situation and improve trade and investment between African countries that the African Continental Free Trade Area (AfCFTA) was established to facilitate trade within the continent.
Mr. Doni-Kwame stated that even though there were some initial delays in ratifying the AfCFTA Treaty by Member States, it is gratifying to note that the Treaty has come into force since 2021 and that we in Ghana are privileged to host the Secretariat of AfCFTA here in Accra.
He therefore, urged the Ghanaian business community to position itself to take advantage of the location of the Secretariat in Accra and in particular for our Industrial Sector to play a critical role to influence Government in its negotiations on relevant matters such as the Rules of Origin.
Mr. Doni-Kwame stated that the low level of intra-African trade was in part due to the dismal state of infrastructure on the continent and accordingly pleaded with African nations to take urgent steps to address the continent’s infrastructure deficit. He was, however, pleased to note that the Economic Community of West African State (ECOWAS) is now keen on implementing the long delayed Abidjan-Accra-Lagos Highway Project.
Based on his extensive experience of Ghana’s business environment, he called on Government to take steps to overhaul the regulatory system; improve the ease of doing business; streamline customs clearance procedures; maintain fiscal discipline, and promote better transparency and accountability with the view to improving investor confidence.
Among this year’s Awards Winners were: De Don Limited Company (International Trade /Exports); Ghandour Cosmetics Limited (International Trade / Exports); Matrix Gas (Ghana) Limited (International Trade / Exports); Oro Oil Ghana Limited (Free Zone Operations / Agro Processing); Promasidor Ghana Limited (International Trade / Exports) and Riepco Limited (Mining Support Services).
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