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.
[unitegallery CommercialCounselor1]
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.
[unitegallery DSS1]
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.
[unitegallery USConsular]
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.
[unitegallery ATC]
The American Chamber of Commerce, Ghana, on Wednesday, June 26, 2024, engaged students from Bunker Hills Community College in Boston, Massachusetts, on the subject of U.S.-Ghana relations, global culture practices, and dynamics in business trade. This meeting was attended by 10 students and 3 faculty members
We delved into the complexities of international relations, focusing mainly on the U.S.’s role in Ghana and across Africa.
[unitegallery BunkerHill]
Throughout the dialogue, students inquire into Ghana’s promising business environment alongside the challenges of international collaboration.
Conversations also scrutinized the impact of U.S. foreign policy on African nations, underlining diplomacy’s pivotal role in promoting global harmony. From commerce to geopolitics, the discussion underscored the profound significance of cross-cultural knowledge in today’s interconnected world trade and establishment between the U.S. and Ghana.
On May 2, the President of the American Chamber of Commerce in Ghana (AmCham Ghana), Mr. Kimathi Kuenyehia, and the Executive Secretary, Mr. Simon Madjie, embarked on a working visit to the U.S. Chamber of Commerce headquarters in Washington, D.C. The purpose of the visit was to further solidify the partnership between AmCham Ghana and the U.S. Chamber of Commerce, as well as explore initiatives to protect American private sector interests in Ghana and reposition U.S. Foreign Direct Investment in West Africa and Ghana.
During their visit, the AmCham Ghana delegation met with Kendra Gaither, President of the African Bureau at the U.S. Chamber of Commerce, and Dr. Guevera Yao, Vice President of the African Bureau. They also met with Ellasandra Walsh and Ellington Arnold, members of the Africa team at the U.S. Chamber of Commerce.
The meeting focused on several key areas, including strengthening the partnership between AmCham Ghana and the U.S. Chamber of Commerce. This partnership aims to foster greater collaboration and cooperation between the two organizations, ultimately benefiting the business communities in both Ghana and the United States.
Another key area of discussion was the need to aggressively protect American private sector interests in Ghana. This includes addressing any challenges or concerns that American businesses may face in Ghana, as well as exploring opportunities for growth and expansion.
The delegation also explored initiatives to reposition U.S. Foreign Direct Investment in West Africa and Ghana. This includes identifying new investment opportunities, addressing any regulatory or bureaucratic hurdles that may hinder investment, and promoting greater economic cooperation between the United States and Ghana.
Overall, the visit was a significant step forward in strengthening the partnership between AmCham Ghana and the U.S. Chamber of Commerce, and in promoting greater economic cooperation between the United States and Ghana.
[unitegallery AmchamNew1]
The American Chamber of Commerce, Ghana, convened a consultative meeting with Lamons LLC on June 4, 2024, to foster collaboration and explore opportunities in mining and trade. This gathering served as a platform for industry leaders to engage in meaningful discussions and introductions, with a focus on leveraging partnerships for mutual benefit. Representatives from both U.S. and Ghanaian companies highlighted the importance of cross-border collaboration in driving economic growth and development, with upcoming events like the WAMPEX ( West African Mining Exhibition) presenting opportunities for showcasing capabilities and forging new alliances.
In the meeting, the significance of the Chamber’s role in facilitating international trade relations and protecting the interests of U.S. companies and investors. Discussions revolved around enhancing cooperation in mining sectors, including mineral mining and manufacturing, with a shared commitment to seizing opportunities for advancement and promoting mutual prosperity. The event underscored the Chamber’s commitment to fostering collaborative partnerships that drive economic growth and contribute to developing Ghanaian and American business landscapes.
Additionally, valuable insights were shared by prominent entities such as PwC, the US Embassy Commercial Service, the Ghana Chamber of Mines, as well as mining and legal experts. Their contributions further enriched the discussions and provided valuable prospect information, enhancing the prospects for fruitful collaborations and advancements in the mining and trade sector
[unitegallery Lamons]
AmCham Ghana President Kimathi Kuenyehia, former President Joe Mensah, and the Executive Secretary of the Chamber, Simon Madjie, were honored at this year’s Offshore Technology Conference (OTC) in Houston, Texas, for their impactful contributions to the organization of the OTC’s Africa Focus Technical Programs on the Around the World Series.
The Around the World Series, launched at the 50th anniversary of the OTC in 2019, serves as a platform for presenting the latest insights from heads of institutions and industry executives representing various countries, including those from Africa. This series also allows industry leaders to deliberate on new licensing, business prospects, and recently introduced technologies.
The American Chamber of Commerce in Ghana has been at the forefront of organizing the Africa events to highlight Africa’s oil and gas sector and share best practices, technical innovations, energy transition, and emerging trends through collaborations with institutions in the country and across the continent.
Other awardees included Egbert Faibille Jnr, CEO, Petroleum Commission, Solomon Tamakloe, CEO, USA-GHATEX INT. LLC, Theophilus Ahwireng, Managing Director, MODEC Production, Services Ghana JV Limited, Amb. Gabriel Tanimu Aduda, OPEC Governor for Nigeria, Adejumoke Oyedun, MD/CEO, Acme Services Limited, Roger Brown, Managing Director/CEO, Seplat Energy PLC, Nigeria, Gbite Falade, Managing Director/CEO, Aradel Holdings Plc, Nigeria, Mahi Kane, President, American Chamber of Commerce in Sénégal, and Henry Ansah, Executive Secretary, Ghana-Houston Chamber of Commerce.
The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters. Since 1969, OTC’s flagship conference has been held annually at NRG Park (formerly Reliant Park) in Houston.
[unitegallery OTC2024]
On Tuesday, April 30, 2024, the synergy of commerce and culture came alive as the American Chamber of Commerce-Ghana (AMCHAM), UK-Ghana Chamber of Commerce (UKGCC), and Canada Ghana Chamber of Commerce (CANCHAM) joined forces to celebrate International Jazz Day 2024 at Wan-Shi Gardens in Asylum Down. This highly anticipated event brought together professionals, culture aficionados, and whisky enthusiasts under one roof for an unforgettable evening. Amidst the enchanting melodies of jazz, attendees immersed themselves in meaningful conversations, expanding their networks beyond the borders of AmCham Ghana. This deliberate step towards fostering international business relations underscored the commitment of all chambers involved to bridge cultural divides and promote economic collaboration. Moreover, the ceremony recognized new members who recently joined the chambers, highlighting their dedication to advancing commerce and enriching cross-cultural exchange.
Amidst the captivating rhythms of jazz, guests indulged in a sensory journey that extended beyond music. The evening featured a tantalizing whisky tasting experience, courtesy of Johnny Walker, where connoisseurs savored the complex flavors and aromas of fine spirits. Complementing the whisky offerings were various refreshing beverages from esteemed sponsors like Voltic, Coca-Cola, and Tampico, ensuring that every palate found its perfect match. From the crisp purity of Voltic water to the effervescent joy of Coca-Cola and the tropical delights of Tampico, each sip added a new dimension to the festivities. As glasses were raised in toasts of camaraderie and collaboration, it became clear that this event was not just about business—it was a celebration of the finer things in life, shared among friends, old and new.
[unitegallery JAZZ]
On March 27, AmCham Ghana, in partnership with Delta Air Lines, organized the International Women’s Day High Tea Event, featuring Laurie Kelleher and Ayesha Bedwei Ibe, an esteemed leader with over 23 years of expertise in finance and accounting, currently serving as PwC’s global people leader in tax and legal services. Ayesha’s address provided a profound exploration of the contemporary challenges faced within the business realm, emphasizing the transformative power of creativity, empathy, and continuous self-improvement. Drawing from her extensive experience, Ayesha highlighted the shifting dynamics of the business landscape, stressing the need for innovation and adaptability in the face of evolving market trends and consumer behaviors.
Her speech resonated deeply with attendees, inspiring them to embrace change and think innovatively to overcome obstacles. Additionally, Ayesha underscored the importance of understanding people’s perspectives and motivations, asserting that empathy and support are vital components for fostering meaningful connections and driving personal growth. Through her insightful discourse, Ayesha left a lasting impression, encouraging individuals to navigate the complexities of modern business with resilience, compassion, and a commitment to continuous improvement.
Drawing from her own experiences, Ayesha highlighted the shifting dynamics of the business world, where traditional methods of revenue generation are no longer sufficient. She emphasized the need for innovation and adaptability, urging attendees to embrace change and think outside the box. Moreover, Ayesha underscored the importance of understanding people and their motivations, noting that empathy and support are key to fostering meaningful connections and personal growth. Ayesha’s message extended beyond the professional realm to include insights on maintaining authenticity, particularly for women in male-dominated industries. She debunked stereotypes and encouraged individuals to be comfortable with themselves, whether embracing femininity or challenging conventional norms.
Throughout her speech, Ayesha emphasized the value of continuous self-improvement and the desire to evolve into the best version of oneself. She encouraged attendees to strive for greatness and to approach life with resilience and an openness to change. Following Ayesha’s enlightening talk, attendees engaged in an interactive activity called “Mint Busters,” aimed at challenging and dispelling stereotypes about women in the workplace. This activity fostered collaboration and sparked meaningful discussions about breaking down barriers and promoting inclusivity. In addition to Ayesha’s insights, Laurie Kelleher, another speaker, shared valuable perspectives on navigating the challenges of the modern business environment. Her contribution added depth to the discussion, highlighting different approaches to achieving success and fulfillment. Lastly, Jane Okyere-Aduachie delivered the closing remarks, summarizing the key takeaways from the event and inspiring attendees to continue their journey of growth and empowerment.
[unitegallery AMCHAM_DELTA_GALLERY]