On Wednesday, September 11, 2024, Mariano Beillard Agriculture Counselor, and representatives from the U.S. Department of Agriculture (USDA) at the U.S. Embassy in Ghana paid a courtesy call to the secretariat to discuss the current agriculture climate and advocate for further economic development.
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The American Chamber of Commerce Ghana is delighted to welcome Absa Bank Ghana LTD, a leading financial institution with a strong commitment to corporate clients, high-net-worth individuals, retail customers, and small and medium enterprises, as our Newest Corporate Member.
Absa Bank Ghana LTD is part of Absa Group Limited, an African financial services group that aims to be the pride of the continent. Absa Group Limited is listed on the JSE in South Africa and is one of Africa’s largest diversified financial services groups with a presence in 12 countries across the continent and around 42,000 employees.
The American Chamber of Commerce, Ghana, is thrilled to welcome Fly Zipline Ghana as our newest Platinum Member. Zipline, a global leader in autonomous delivery, has revolutionized logistics with its on-demand drone delivery system.
Zipline is on a mission to build the world’s first logistics system that serves everyone equally. With operations in eight countries across four continents and more than 80 million commercial autonomous miles flown to date, Zipline is transforming access to healthcare, consumer products, and food.
Zipline originally started delivering blood and medical products in Rwanda in 2016 and has since expanded to food, retail, agriculture products, and animal health products.
Zipline has two platforms — one for long-range delivery and the other for precise home delivery. We’ve delivered to thousands of homes, hospitals, and businesses in the US, Rwanda, Ghana, Nigeria, Cote d’Ivoire, Kenya, and Japan.
Last Thursday, September 5th, AmCham Ghana hosted a reception honoring CS Ghana Commercial Counselor Rachel Kreissl, Commercial Officer Laurie Kelleher, and representatives from the U.S. Embassy in Ghana. Django Brothers, United Airlines, Voltic, Coca-Cola, and Tampico proudly supported the event. This engagement is designed to foster a valuable opportunity for members to network with industry professionals and create new business relationships.
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On Thursday, August 29, 2024, a consortium of reputable trade associations, led by the American Chamber of Commerce in Ghana, Ghana Netherlands Business & Culture Council, Spain-Ghana Chamber of Commerce, Ghana South Africa Business Chamber, Canada-Ghana Chamber of Commerce, Japan External Trade Office, and the Chamber of Commerce & Industry, France, launched the Distinguished Speaker Series at the Movenpick Ambassador Hotel in Accra.
This initiative aimed to foster high-level discussions on the future of Foreign Direct Investment (FDI) in Ghana. The speaker for the occasion was the flagbearer of the National Democratic Congress (NDC)- H.E. John Dramani Mahama.
The dialogue sought to address policies implemented by political leaders to attract and retain FDI, which had been instrumental in Ghana’s economic growth. FDI had contributed significantly to job creation, tax revenue generation, increased capital flows, technology and skills transfer, export development, and infrastructure enhancement. Since 1990, foreign investors had contributed approximately $47.2 billion to the Ghanaian economy, solidifying Ghana’s position as a major recipient of FDI in the subregion.
H.E. John Dramani Mahama outlined challenges hindering FDI inflows, including regulatory complexities, contract violations, macroeconomic instability, and corruption. He proposed policy interventions to address these challenges and attract more FDI, such as simplifying regulatory processes, ensuring contract sanctity, improving macroeconomic stability, reforming state-owned enterprises, providing incentives for investors, and strengthening investment promotion agencies.
The speaker identified specific sectors for targeted FDI promotion, including the extractive industry, digital economy, infrastructure, and agriculture. During the Q&A session, H.E. John Dramani Mahama discussed strategies used to attract significant FDI during his time in office, focusing on the oil and gas sector. He emphasized the importance of streamlining bureaucratic processes, coordinating government agencies, and utilizing debt service escrow accounts and public-private partnerships to finance infrastructure projects.
H.E. John Dramani Mahama emphasized the crucial role of Foreign Direct Investment (FDI) in economic growth and development, particularly for developing nations like Ghana. He highlighted several challenges hindering FDI inflows into Ghana, including regulatory complexities, contract violations, macroeconomic instability, and corruption.
H.E. John Dramani Mahama outlined a series of policy interventions to address these challenges and attract more FDI. These included:
* Simplifying regulatory processes and reducing bureaucratic burdens
* Ensuring contract sanctity and resolving payment issues
* Improving macroeconomic stability and reducing inflation
* Reforming state-owned enterprises
* Providing incentives for investors
* Strengthening investment promotion agencies
H.E. John Dramani Mahama identified specific sectors for targeted FDI promotion, such as the extractive industry, digital economy, infrastructure, and agriculture.
Following the keynote speech, there was a fireside chat moderated by Mr. Joe Mensah, Senior Vice President for Kosmos Energy. During the Q&A session with H.E. John Dramani Mahama, the former President discussed strategies used to attract significant FDI during his time in office, particularly focusing on the oil and gas sector.
H.E. John Dramani Mahama highlighted the importance of streamlining bureaucratic processes and coordinating government agencies to facilitate investment. He mentioned the use of debt service escrow accounts and public-private partnerships (PPPs) to finance infrastructure projects without government funding. Additionally, the speaker explained how state-owned enterprises were incentivized to attract FDI by granting them more autonomy and access to private sector financing.
H.E. John Dramani Mahama emphasized the importance of effective governance, bureaucratic efficiency, and innovative financing mechanisms in creating a favorable investment climate.
The Executive Secretary of AmCham Ghana, Simon Madjie Esq, inquired about the government’s tardy payments to companies for goods and services, as well as the inconsistent localization policies that were jeopardizing Ghana’s attractiveness as an investment destination.
Stay tuned for the announcement of the next speaker in the Distinguished Speaker Series (DSS) on FDI.
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The American Chamber of Commerce, Ghana, is proud to introduce GCB Bank PLC, Africa’s most welcoming bank, offering accessible financial support wherever it’s needed through helpful service and expert solutions, as our newest Platinum Member.
GCB Bank Limited, formally known as Ghana Commercial Bank, is the largest bank in Ghana in terms of total operating assets and share of industry deposits, with 14.2% of total industry deposits.
GCB Bank PLC is Ghana’s first and largest indigenous bank with the vision to be the leading Bank in all our markets and the mission to provide first class banking solutions for customers and value for all stakeholders. This year, the Bank celebrates Seventy (70) years of providing unrivalled financial solutions towards socio-economic development of Ghana.
Established in 1953 and listed on the Ghana Stock Exchange since 1996, GCB Bank acquired selected assets and liabilities of two indigenous banks in 2017 and expanded its branch network and ATMs to over 185 and 340 respectively in its quest to continue being the most dominant player in Ghana’s banking
Welcome aboard, GCB Bank PLC!
The American Chamber of Commerce in Ghana is delighted to announce that Kezy-Banz Logistics and Investment Limited, the industry leader in global classification services for marine and offshore assets, has joined AmCham Ghana as a Platinum Member. This prestigious membership signifies Kezy-Banz’s commitment to fostering growth, innovation, and strong partnerships within the Ghanaian business community
Kezy-Banz Logistics and Investment Limited offers a wide range of high-quality heavy equipment and haul trucks to meet the diverse needs of Ghana’s industries. From excavators and wheel loaders to articulated dump trucks, our machines are designed for performance and reliability
On Thursday, August 15th, Rachel Kreissl, the newly appointed Commercial Counselor at the U.S. Embassy Ghana, and Commercial Officer Laurie Kelleher, paid a courtesy call to the secretariat to discuss the current business climate and advocate for further economic development.
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The American Chamber of Commerce, Ghana, is proud to introduce ABS, the industry leader in global classification services for marine and offshore assets, as our new corporate member.
Founded in 1862, ABS is a global leader in providing classification services for marine and offshore assets. Their mission is to promote the security of life and property, serve the public interest, and preserve the natural environment. ABS is committed to safety, reliability, and efficiency, achieving industry-leading safety metrics, including zero lost time work-related incidents from 2017 to 2019.
In a rapidly changing business environment influenced by digital technology and data analytics, ABS applies advanced technology and improved processes to enhance safety, performance, and efficiency. As a trusted advisor, ABS supports marine and offshore ventures for a diverse range of clients.
On Thursday, July 11, representatives from American Towers Corporation (ATC) paid a courtesy call to the Secretariat to discuss the current business environment and advocate for further development.
ATC Ghana is the largest independent owner and operator of shared wireless infrastructure in Ghana. ATC provides towers, in-building systems, power solutions, and services that speed network deployment for the wireless and broadcast communications industry.
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