The Chamber on June 16, 2020, collaborated with USAID and the West Africa Trade & Investment Hub to host a webinar to discuss the Trade Hub’s Co-Investment Opportunities and how companies can take advantage and export to the United States under the African Growth and Opportunity Act (AGOA). The event forms part of the ongoing AmCham Money Series.
AmCham Ghana Executive Secretary, Simon Madjie, reiterated the chamber’s commitment to assisting companies in doing business and help provide vital information to mitigate the impact of the new coronavirus.
The Trade Hub is a five-year trade and investment facilitation program that seeks to improve private sector competitiveness in West Africa through its $60 million Co-Investment Fund.
The program makes it possible for applicants to access grant funding from $250,000 to $2 million. In Ghana currently, there is $8.5 million of grant funding (approx. 48.7 million Cedi) available for companies interested in co-partnering with the Trade Hub to generate new private investment, create jobs, and increase exports.
The aim is to co-invest in activities that contribute to; creating new jobs, generating high levels of private investment, increasing the value of exports and/or sales, empowering women and the youth, and introducing innovations to modernize agriculture.
Private sector companies, research institutions, universities, and non-profit/for-profit organizations looking to grow and upgrade their businesses, expand corporate social responsibility projects, or conduct research and development activities to pursue market and technological innovations in the agriculture sector can apply.
In addition to its co-investment partnerships, the Trade Hub also provides technical assistance to businesses so they can benefit from the African Growth and Opportunity Act (AGOA). AGOA was established to promote increased trade and investment between the U.S. and sub-Saharan African countries resulting in significant growth in total two-way trade between Sub-Saharan African countries and the United States.
AGOA/GSP represents 23% of total US-bound duty-free exports from AGOA beneficiaries and currently, Ghana is the 4th leading exporter.
The Trade Hub can assist companies in the eligibility process to export under AGOA, and also facilitates access to U.S. buyers for interested companies. Click to Download Presentation
By By Albert Ludwig Botchway, AmCham Communications
