Ghana urged to position economy as hub for ECOWAS

The Delegate of the German Chamber of Commerce and Industry, Mr Patrick Martens, has urged Ghana to sustain its economic and political stability in order to grow the private sector to make it the hub for West Africa.

Mr Martens said although Ghana by itself was not a large market, many European investors preferred to adopt the country as their West Africa hub because of the economic and political stability.

Speaking on the sidelines of a cocktail organised by the German Tech Pavilion at the just ended German and European industrial fair, GEREU 2011, Mr Martens told the Daily Graphic that it was also important for managers of the economy to identify sustainable sources of infrastructural development and not necessarily those that were cheap.

Ghana has to take advantage of the stable conditions it has and work harder to sustain it. In doing so, the country should go for infrastructure solutions which are of a high quality and sustainable, and not just always the cheapest, Mr Martens said.

GEREU was organised by the Ghanaian –German Economic Association (GGEA) and the Delegation of German Industry and Commerce in Ghana (AHK) from September 29 to October 1, 2011, with companies exhibiting various industrial products in the areas of pharmaceuticals and chemicals, automobiles, information and communications technology (ICT), energy, construction, financial services among others.

The German Tech Pavilion at the fair was a dedicated stand for German companies to exhibit products and services. The pavilion had a total of six companies (Terra Trading International GmbH, Bay-Sat Engineering & Technology, Gebr.Willing, Hanwha SolarOne, Lahmeyer International GmbH and AG-Tech Ltd) exhibiting the latest technologies in solar energy, self-sufficient housing and construction machines.

Other areas were concrete shuttering systems, construction, security engineering of buildings, pipelines and airfields as well as telematics.

Mr Marten said the idea was to encourage the German companies, which were averse to doing business in Africa, to enter the market and also have them partner with industries in Ghana to ensure efficient performance and growth.

We have companies interested in agriculture and agribusiness. We believe this sector can be a key driver of employment and exports. It is important to note that we are not here as donors but we want to do good business across the value chain, the Delegate of AHK said.

The German development bank, DEG, which offers cheaper financing, a key ingredient for investments, was also at the exhibition to express its readiness to support and promote viable private sector businesses in the country.

Mr Martens said so far the fair had been very successful in matching German/European companies to suitable and credible Ghanaian companies for a win-win benefit to them

Source: Daily Graphic

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