President Nana Addo Dankwa Akufo-Addo has called on business leaders and investors, both local and foreign to explore the numerous investment opportunities that the government’s ambiguous GHC100 billion Ghana Care Obaatampa programme offers.
President Akufo-Addo said the objective of the programme is to stabilise, revitalise and transform the country’s economy, after the ravages of the COVID-19 pandemic.
Among others, the programme would support commercial farming, attracting educated youth into agriculture, build the country’s light manufacturing sector, improve its pharmaceutical and health industry, as well as build a robust digital economy.
President Akufo-Addo said Ghana is a prime and ripe destination for doing business. It is politically stable, with strong democratic institutions and blessed with an entrepreneurial and dynamic youth population, “who are very savvy with technology and innovation.”
He said the process of reforming the country’s investment laws to improve on doing business in Ghana had been deepened to make the country more attractive to investors.
Speaking at the launch of the Ghana Financing Roadmap for the realisation of the 2030 United Nations Sustainable Development Goals at the Jubilee House on Tuesday, President Akufo-Addo urged current business leaders and investors to come on board and be part of this “exciting journey” of building and inclusive and resilient economy in Ghana.
Sadly, President Akufo-Addo said the devastating effect of the COVID-19 pandemic had been a major setback to the realisation of Ghana achieving the SDGs but has also heightened the urgency of SDGs actions.
He said the pandemic had not only heightened Ghana’s economy but has also created new ones which have exacerbated the country’s financing gap in the implementation of the SDGs.
The President said underdevelopment and deprivation cannot be associated with Ghana as the country abounds with many natural resources, which when fully utilise will create wealth for the people of Ghana.
In achieving the SDGs, President Akufo-Addo assured business leaders and investors, local and foreign, that Ghana will put its “wall” on a more solid foundation and on a firmer path to deal effectively with future pandemics.”
The President said Ghana was committed to the SDGs, even with the significant challenge pose by the pandemic.
The President said Ghana’s commitment to the SDGs was bound out of the fundamental belief that the SDGs are at the heart of the development challenges that the country face and offer a significant prospect for Ghana’s transformation and development.
President Akufo-Addo said the SDGs represented a solid pathway as “we seek to reset and build by better, following the ongoing pandemic.
As is the case all around the world, the President said the physical implications, as well as development in the course of the pandemic, had been immense for the country.
“But I am confident that with prudent and smart policies backed by the enhanced investment we will turn the corner rapidly and put our nation back on track.”
He assured that going forward, the SDGs would be the driving factors in the formulation of Ghana’s development policy and overall resource allocation.
Ghana’s economy, he said, is rebounding at a faster rate than originally anticipated, adding “this is exactly what the Economic indices suggest.
The Government of Ghana in partnership with the World Economic Forum’s Sustainable Development Investment Partnership (SDIP), initiated the Country Financing Roadmap for the SDGs (CFR), a country-led initiative to formalise an action plan to unlock greater financing towards achieving the Sustainable Development Goals (SDGs) through public-private collaboration.
The initiative aims to quantify the financing gap, identifying and developing strategies to bridge the gap for immediate and long-term national development priorities in line with the SDGs, by formulating joint action plans to attract greater investment.
The aim is to catalyse private financing for SDGs at scale while improving the long-term competitiveness of the country.
The CFR’s purpose, among others, is to serve as an impartial platform, raising awareness of the conditions need to unlock greater sustainable financing, and stimulate dialogue on regional and thematic financing agendas for greater impact.
Rex Mainoo Yeboah, ISD