Gyandoh Asmah & Co Joins AmCham Ghana

The full-service law firm Gyandoh Asmah & Co is now a member of the American Chamber of Commerce, Ghana.

Gyandoh Asmah & Co has over 15 years of experience and technological fortitude. Since its inception, they have always focused on building long-term relationships with its clients.

The firm aims to create the ultimate client experience and develop enduring relationships with all stakeholders. The Law Office of Gyandoh Asmah & Co employs as associates knowledgeable and experienced lawyers who can handle a variety of legal issues, including Constitutional, Oil and GAS, Property, Corporate, Taxation, and International Trade and Investment.

Gyandoh Asmah & Co works closely with clients to achieve their immediate and long-term corporate ambitions. They focus on delivering strategies and outcomes to meet the needs of Clients in a cost-efficient and prompt manner.

Their style is to identify material issues and not overcomplicate matters with technicalities. They value strong relationships with fellow practitioners and work together to find solutions to meet the needs of all parties. Their experience includes advising on Corporate Structuring, Debt and Equity Investments, Mergers and Acquisitions, Corporate Governance, Trade Practices Compliance, and Advice on Employment related issues.

The firm’s lawyers provide complete legal solutions for commercial property and real estate transactions, from the sale and purchase of land. They advise on commercial, retail, industrial, and rural projects. Whether acting for investors, developers, traditional rulers, or individuals, they provide pragmatic and innovative solutions for our Clients. We employ a multi-disciplinary approach, resulting in an integrated service. Learn more…

Their core competencies include;

  • Acting on claims involving the validity and enforcement of loans, mortgages, charges, guarantees, and security.
  • Proficiency in Garnishee Proceedings, Debt/Loan Recovery, Foreclosure, syndicated Lending, and Liquidation.
  • Capacity to carry out reliable Due Diligence Corporate Searches and Title Investigations.
  • Proven ability to conduct commercial credit risk analysis of a debtor company or individual & give legal opinion.
  • Experts in the preparation of effective result-oriented debt-recovery demand letters & other processes.
  • Capability to advice on Corporate Governance & Regulatory Compliance for all types of companies.
  • Ability to educate and update you and your staff about the legal environment of your business via newsletters.
  • Able to provide frequent case updates, along with promptly returned phone calls and emails.

 

 

CONTACT

1B Sixth Circular Road,

Cantonments, Accra – Ghana

 Tel: +233 (0)24 436 4592

 Tel: +233 (0)20 044 5500

 kofi.asmah@gyandohasmah.com

Flutterwave Joins AmCham Ghana

The American Chamber of Commerce, Ghana, is pleased to announce payments technology company, Flutterwave as our new #PlatinumMember.

Flutterwave was founded in 2016 with the mission to simplify transactions to accelerate international commerce and economic growth in Africa.

The company seeks to connect Africa to the world and empower a new generation of tech-savvy, educated Africans, thereby preparing the continent to take its rightful place in the new digital economy.

Flutterwave is at the leading edge of the future of U.S. – Africa trade and investment. Led by a world-class international team and backed by U.S. venture capital, Flutterwave has its headquarters in San Francisco and its main operating base in Lagos. They have operations in over 30 African countries, including the continent’s biggest e-commerce markets: Nigeria, South Africa, and Kenya.

Flutterwave Technology Solutions Limited (FTSL) was incorporated in August 2017 in Accra, Ghana, and has been operating as a payment service provider since then. They are integrated directly with major banks, fintech, and mobile network providers in the country and provide payment services through them.

In Ghana, they offer Flutterwave for Business and Barter. Services available on Flutterwave for Business include payment collection in all currencies, payouts in GHS, USD Virtual Card creation and funding, transfer services, and airtime purchases. Flutterwave for Barter offers local money transfers and inward remittances.

The company hopes to capitalize on the African Continental Free Trade Area (AfCFTA) to see even more cross-border commerce and a continent-wide regulatory system that will give companies like Flutterwave more predictability.

Flutterwave was founded by Nigerian entrepreneurs Olugbenga Agboola, Adeleke Adekoya, and Iyinoluwa Aboyeji, alumni of Standard Bank, Andela, PayPal, Google Wallet, and other fintech firms.

These industry veterans identified the problem of fragmented cross-border payments in Africa and developed a digital payment API to facilitate business across the continent by allowing users to make international payments in their currencies. The firm also provides technology advisory services and capital initiatives.

The Flutterwave platform has processed over 200 million transactions and serves over one million businesses. Learn More…

 

Statement By The American Chamber Of Commerce On The Visit Of Vice President Kamala Harris

The Republic of Ghana and the United States of America continue to maintain their long-standing close relations anchored on their mutual commitment to freedom and democratic values. Ghana has in the past hosted several American dignitaries, including Former President Bill Clinton, Former President George W. Bush, Former President Barack Obama, Former House Speaker Nancy Pelosi, Former First Lady Melania Trump, and other Senior Members of past and present U.S. Administrations.

The visit of the Vice President of the United States of America, Kamala D. Harris, is of unique significance because she is the first female vice president of the United States and the first woman of Indian and African heritage to hold that office. Her visit to Ghana and other parts of Africa is an inspiration for the next generation, especially for women leaders working on the continent.

Ghana and the United States have a long history of promoting democracy, human rights, and the rule of law. As the country’s largest bilateral development partner, the United States has always maintained a keen interest in the economic development of Ghana. Bilateral trade between Ghana and the United States is reported to be $1.6 billion as of 2021. Ghana continues to enjoy substantial foreign direct investment from the United States as U.S. FDI into Ghana is estimated to be over 22 billion dollars over the last decade. These companies, through their operations in the country, make significant contributions to the country’s socioeconomic development. Apart from being large tax-paying entities, they continue to employ and develop the skills of thousands of Ghanaians. Also, through various initiatives and Corporate Social Responsibility activities, they have invested millions of dollars in improving the livelihood of host communities and other parts of the country. These companies played pivotal roles in Ghana’s fight against the deadly COVID-19 virus and continue to invest in people and institutions to mitigate the impact of the virus and support the country’s recovery process.

The American Chamber of Commerce, Ghana, is of the firm opinion that the visit of Vice President Kamala D. Harris presents an immense opportunity for both countries to further strengthen their relations, especially in the areas of trade and investment. Ghana should take advantage of this golden opportunity and the moment when the focus of the U.S. would be on our country to drive home the need for more U.S. foreign direct investment, increase diaspora engagement, and strengthen cooperation in the creative, educational, health, security, and cultural sectors.

The government of Ghana must continuously institute the needed reforms that will allow the private sector to lead the economic recovery and position Ghana as the preferred destination for investors. These reforms are critical to reassure investors of the country’s commitment to a private sector-led economy and the growth of free enterprise. Government must also properly align its engagement with the four key pillars of the U.S. strategy towards Sub-Saharan Africa. Namely; to foster open societies; deliver democratic and security dividends; advance pandemic recovery and economic recovery; and support conservation, climate adaptation, and a just energy transition.

On behalf of all U.S. companies, subsidiaries, franchisees, and businesses in Ghana, we say Akwaaba (Welcome) to Vice President Kamala Harris and her entourage to the country, and we look forward to a productive and fruitful engagement with the Government of Ghana.

 

A statement issued by:

 

 

 

 

 

 

 

 

Simon Madjie

Executive Secretary

American Chamber of Commerce in Ghana

 

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TEMPLARS Joins AmCham Ghana

The American Chamber of Commerce, Ghana, is pleased to welcome TEMPLARS, a leading African law firm advising clients across sectors and geographies, to our community of progressive businesses.

TEMPLARS applies initiative thinking to develop practical and insightful solutions to complex problems facing business leaders and disruptors.

Their clients include global and regional business giants, market disruptors and some of Africa’s most exciting start-ups. The company provides comprehensive advice to global energy firms, leading financial institutions, manufacturing companies, and disruptive technology and a wide range of businesses.

TEMPLARS was founded to fill a gap in the market for high quality legal advice with a commercial imperative. After nearly thirty years in business, they have never lost their commercial focus.

They are tier 1 across all our practice groups by all the leading international legal directories with over 100 lawyers, and 21 partners across Nigeria and Ghana.

The firm’s advice is always rooted in a deep understanding of clients, their industry, and their unique commercial challenge. They embrace new challenges, relish complexity, and bring innovative thinking to solve their clients’ most pressing business needs. Learn more…

 

 

 

Location

18 Labone Crescent,

GL – 014-5445.

Accra, Ghana

Phone

+233 504 901 281

Email

infoghana@templars-law.com

Video: 2023 Ghana Economic Outlook | Expect Increase In Production Cost – Abeku Gyan-Quansah

One of the speakers at our recent forum on Ghana’s 2023 Economic Outlook, Abeku Gyan-Quansah, noted that companies should expect an increase in the cost of production in some aspects of their operations.

He cited the Income Tax Amendment Bill, increase in deemed benefits value, and increase in import tariffs as some of the drivers of the expected increase in the cost of production.

AmCham Ghana x CCIFG Networking Cocktail

On Thursday, March 9,  the American Chamber of Commerce, Ghana, and the French Chamber of Commerce and Industry in Ghana hosted their first collaborative networking cocktail at the Alisa Hotel in Accra.

This event was to provide a broader audience for all participating members to forge positive connections with other business professionals and potential clients from the two Chambers.

Members were invited to network and discuss ideas after brief remarks from AmCham Ghana Executive Secretary  Simon Madjie and Armelle Sae-Jeanne, Managing Director of the French Chamber of Commerce in Ghana.

Till the evening’s end, guests savored the delicious finger foods from Alisa Hotel. The Chamber expresses its gratitude to all who participated, and we hope to host you again for our upcoming events.

[unitegallery thecocktail]

AmCham Ghana AfCFTA Resource Centre Hosts Training Session On How To Export Under AfCFTA

 

The AmCham Ghana AfCFTA Resource Centre, under the auspices of the American Chamber of Commerce, Ghana, and in partnership with the Africa Trade Academy, on March 3, 2023, hosted a training session on the topic, Expanding into African Markets: How to Export Under AfCFTA, to provide members with insight on the various aspects of the agreement to ensure optimization of the opportunities presented under the new free trade agreement.

AfCFTA is a high-ambition trade agreement with a comprehensive scope that includes critical areas of Africa’s economy. By eliminating barriers to trade in Africa, the agreement seeks to significantly boost intra-Africa trade, particularly trade in value-added production and trade across all sectors of Africa’s economy.

The instructor for the training session, Dode Seidu, took participants through the various processes of analyzing Africa’s market opportunities, researching African markets, and means of entering other African markets through AfCFTA.

Dodie noted that, for companies to trade under AfCFTA, they must be properly registered, have an exportable product, understand the market requirements of destination countries, know the tariff and non-tariff barriers to products, and be registered with Ghana National Chamber of Commerce and Industry (GNCCI) to obtain a certificate of origin.

He also shared insight on the African Continental Free Trade Area (AfCFTA) Rules of Origin manual which serves as a guide to the operationalization of Annex 2 on Rules of Origin, an essential part of the AfCFTA.

For businesses to be able to succeed, Dode advised companies to pick the right entry strategy, understand the consumer base of the country they want to export to, use informal markets and capacity building by setting up extensive training programs to develop the skills of locals and integrate them into their business, and manage risk by building partnership with locals and engaging key stakeholders.

 

As governments, the AfCFTA secretariat, and other stakeholders strive to implement and fully operationalize the African Continental Free Trade Agreement, the AmCham Ghana AfCFTA Resource Centre is committed to hosting more engagements to provide members with vital information to succeed.

The AfCFTA Resource Centre was set up at the American Chamber of Commerce, Ghana, to serve as an information hub for U.S. businesses and provide a conducive environment for networking and partnership with Ghanaian companies to take advantage of the trade agreement.

Carloking Freight Logistics Limited Joins AmCham Ghana

The American Chamber of Commerce, Ghana, is pleased to announce Carloking Freight Logistics Limited as a new member of our association of progressive businesses.

Carloking Services (Carloking) was founded in 1992 as a Freight Forwarding and Logistics Company in Ghana. The company has its headquarters at Tema in the Greater Accra Region of Ghana. Carloking Service is renowned for its Freight Forwarding business and complete logistics solutions to international and domestic clients both in Ghana and abroad. Our objective is to ensure total commitment towards the delivery of cargo safely to our clients.

With over twenty (20) years of experience in the freight sector, the Company has been able to deliver uninterrupted logistics solutions to its clients locally and globally. Our unparalleled logistics service solutions are a result of proven just-in-time cargo delivery across the globe. We operate a Complete Freight Forwarding service including Customs Brokerage, Project Cargo Management, Household Removals (Relocation Services), etc. In addition to that, we have our warehouse on-site with a loading and off-loading bay for executing forklift-related operations.

The Company takes pride in its ability to provide swift processing and delivery of cargo with the assistance of qualified staff. The staff at Carloking Services have wealth of experience on the job and are committed to ensuring the utmost customer satisfaction. Also, all staff works cohesively as a team to ensure that each operation is managed by delivering on the exact requirements and concerns of the customer. The team also offers advice to customers who may not be well-informed on freight transportation and may require further clarification on the shipment of goods.

As part of the company’s strategic growth plans, other branches have been opened at entry points into Ghana; Kotoka International Airport, Takoradi, and Tema. Carloking is also involved with several networks and associations to provide innovation and customer satisfaction. Learn more

These networks and associations include:
a. Ghana Institute of Freight Forwarders (GIFF)
b. Associate of Ghana Industries (AGI)
c. The World Cargo Alliance (WCA)
d. World Cargo Alliance Project Network (WCAPN)
e. International Association of Movers (IAM)
f. The American Moving and Storage Association (AMSA)

 

As an internationally certified freight service company, they understand the need for safety and delivery hence the goal is to ensure customers are always happy with their service.

They offer;

 

TEMA OFFICE

AIRPORT OFFICE

WEBSITE

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U.S. Launches SelectUSA Summit Recruitment for Ghanaian Investors

Source:

 

The U.S. Embassy joined the American Chamber of Commerce (AmCham) in Ghana yesterday to launch the 2023 SelectUSA Summit recruiting program.  The event attracted Ghanaian companies and individuals from a variety of economic sectors to highlight the benefits of investing in the United States.  In its 2022 report, Kearney Global Business Policy Council ranked the United States as the number one global destination for future Foreign Direct Investment for the tenth consecutive year.

“Our economic engagement with Ghana continues to grow.  One of our top priorities is to expand bilateral investment, not only into Ghana but into the United States as well,” explained U.S. Embassy Economic Section Chief Stephanie Hutchison at the event.  Ghanaian investments can help drive more exports of key locally sourced goods from Ghana to the United States.  She further explained that “investing in the United States can help Ghanaian companies diversify the goods and services that they provide and build their brand internationally.”

Hutchison highlighted the United States’ strong culture of innovation, as well as its business environment, labor force, diversity of industries, and lucrative domestic consumer market in her remarks.  The United States remains the largest recipient of inward foreign direct investment in the world with $5 trillion in cumulative investment at the end of 2021.

The event featured speakers from the U.S. Embassy, the American Chamber of Commerce, the Department of Commerce’s SelectUSA program, as well as from Ghanaian companies Ekumfi Fruits and Anning Bonsu Enterprises.

Acting Commercial Counselor Laurie Kelleher explained U.S. Government resources available to investors, including specific ways the SelectUSA Program can assist potential investors to identify opportunities and partners, find state and local resources, and navigate company registration and other investment processes.  She highlighted the benefits of attending the SelectUSA Investment Summit, the premier annual event dedicated to promoting investment into the United States.  SelectUSA attendees can participate in more than 100 dedicated sessions featuring C-Suite Executives, Cabinet Officials, U.S. Governors, and U.S. Economic Development Organizations from 51 U.S. States and Territories in one location. The 2022 SelectUSA Summit, the largest to date, attracted 3,000 attendees, including 1,400 companies from 70 foreign countries.

Dr. Obafemi Elegbede from SelectUSA described how to select a location for a business, register a company, and open a bank account in the United States. Other local speakers highlighted their experiences in the U.S. market, including the strong affinity for Ghana and Ghanaian products in the United States and complementary industries such as food processing, logistics, energy, software and IT services, and tourism, among others.

The Commercial Section of the U.S. Embassy will lead the Ghanaian delegation to the SelectUSA Summit, which will be held on May 1-4, 2023 in Washington, DC.  For more information about attending the SelectUSA Investment Summit, the SelectUSA Program, and investing in the United States, please visit the U.S. Embassy website section for businesses and investors: https://gh.usembassy.gov/business/getting-started-usa/

Consultative Meeting Of Bilateral Chambers Of Commerce

 

Ghana remains attractive to significant foreign direct investment (FDI). Major multinational companies are in Ghana due to its relative peace, strong democratic culture and good governance, rule of law, educated workforce, and welcoming population. Ghana’s leadership on the international economic stage is epitomized by the hosting of the Africa Continental Free Trade Agreement (AfCFTA) Secretariat in Accra, bolstering the country’s position as a major commercial hub for the continent.

The undersigned, a group of bilateral trade associations representing the interest of international and local companies operating in the country, having invested significantly, employing mainly Ghanaians, and paying taxes, wish to draw the government’s attention to the following which threatens the country’s position as a leading and favorable destination for business and investment.  We are also not oblivious of the current economic challenges and the proposition that all must contribute their share to the solution.  However, we are convinced that given the right incentives and the desired operational flexibility with less interference, the private sector shall provide the needed resources for Ghana’s long-term growth and prosperity.

The matters of great interest to the bilateral trade associations include the following:

  1. The Government has our unbridled support in its negotiations with the International Monetary Fund (IMF) and we endorse the initiatives to mobilize domestic revenue for the country’s development. Our member companies are all in the formal sector and known large taxpayers. They are, however, deeply concerned about the perceived predatory nature and outright harassment by Ghana Revenue Authority (GRA) officials in the conduct of audits and the resulting imposition of penalties as part of efforts to collect more taxes from companies that are already large taxpayers.  Our member companies expect greater consultative opportunities in the development and rollout of tax reforms.

 

  1. In our opinion, a partial or full recovery from the current challenges is largely dependent on the private sector creating more jobs and hence, paying more taxes. In this regard, we urge the government to harmonize all legislation, rules, and regulations to spur coherent private sector participation in the economy.  While our member companies fully support and encourage local content development and participation, for example, its implementation must not threaten or undermine the existing ecosystem.  The rigidity of localization regulations is threatening investments in the mining, energy, and digital/communications sectors.

 

  1. Our members are unsettled by delays in payment for the supply of government goods and services as well as the seeming challenges with contract sanctity and the perceived lack of transparency and interference with government-to-business contracts. Smart investment chases a business environment grounded in consistency and predictability.  The pool of would-be investors is small, and they talk to one another. Word spreads fast when business conditions deteriorate, causing a ripple effect that can impede investment for years to come.

 

  1. We stand in solidarity with the efforts to stabilize the depreciating currency which has lost more than 50% of its value against the major currencies in 2022. We want the Bank of Ghana (BoG) to maintain an open and fair line of communication with investors on the issue of repatriation of profits and the availability and management of foreign exchange for businesses to import essential inputs for manufacturing. Further, the BoG must also publicly communicate the modalities on its outright cessation of providing foreign exchange for some critical imports to avoid likely shortages.  On this point, it is worth noting that South Africa had to halt the imposition of its import tariff on poultry to avert a food crisis.  Poultry remains a cheap source of protein for many in the country.

 

  1. We intend to collaborate more closely with local trade groups on matters of mutual concern particularly on using more local content in manufacturing.

 

Signed:

Simon Madjie 

American Chamber of Commerce in Ghana (AmCham Ghana)

 

Adjoba Kyiamah

UK-Ghana Chamber of Commerce (UKGCC)

 

Armelle Sae-Jeanne

Chamber of Commerce and Industry France Ghana (CCIFG)

 

Nicolas Gebara

European Chamber of Commerce in Ghana (EUROCHAM Ghana)

 

Edwina Atta-Sonno

Canada Ghana Chamber of Commerce (CANCHAM Ghana)