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UK to increase investments in Ghana

The United Kingdom (UK) has stated it will be increasing her existing investment in Ghana.

The UK’s Minister of State for Africa, Harriet Baldwin who made the call said her country will also ensure greater economic harmonization between the two countries.

She was speaking at the second UK-Ghana Business Council (UKGBC) meetings held at the Lancaster House in London today. The Vice President of the Republic, Dr. Mahamudu Bawumia, is attending the meeting.

Today’s meetings have been exploring new strategies and opportunities to enhance trade and investment between the two countries in several areas including agro-processing, extractives, garments/textiles, pharmaceuticals, financial sector, fintech, and cybersecurity.

On his part, the Vice President, Dr. Mahamudu Bawumia, lauded the UK government’s interest in increasing economic cooperation between Ghana and the UK, and pledged the support of the government of Ghana.

“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 with you”, Vice President Bawumia observed.

Dr. Bawumia continued “For us, as we prepare to position Ghana as the financial services hub in West Africa, increasing our strategic alliance with the UK is indispensable since London is the largest financial services center 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 indicated.

The UK government intends to bring substantial investments to help complete existing projects and undertake new ones such as the Kumasi Central Market phase 2, phase 2 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.

Officials present at today’s meetings included Hon. Alan Kyerematen (Minister for Trade), Prof. George Gyan Baffour (Minister for Planning), Mr. Yofi Grant (CEO, Ghana Investment Promotion Center), and H.E. Papa Owusu Ankomah (Ghana’s High Commissioner to UK).

Hon. Adam Afriyie (UK Prime Minister’s Trade Envoy), Ms. Rachel Turner (Director for Economic Development & Europe, DFID), H.E Ian Walker (UK High Commissioner to Ghana) were also present.


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