AmCham Ghana Signs MoU With Emory University And The Global African Partners

The American Chamber of Commerce, Ghana, signs a Memorandum of Understanding (MoU) with Emory University’s Emory Development Initiative (EDI), an Atlanta, Georgia-based private university established in 1836, and the Global African Partners (GAP) to facilitate trading under the African Continental Free Trade Area.

The parties will collaborate to offer virtual and in-person certificated corporate executive training programs granted under Emory University and the EDI on the African Continental Free Trade Agreement (AfCFTA) and African trade, primarily targeting the U.S, African private sector, and non-profit professionals seeking understanding and implications of the AfCFTA, headquartered in Accra.

The parties will also collaborate on joint research and grant proposals on subjects related to U.S-Africa economic and cultural engagement and areas of common interest.

The parties of this MoU are AmCham Ghana AfCFTA Resource Center – An American Chamber of Commerce, Ghana initiative dedicated to breaching the information gap for U.S and International businesses on the implementation of the AfCFTA Agreement, EDI– an Emory University initiative that promotes economic growth and development across emerging and developing economies through courses, events, and external projects, GAP – an advisory and consulting firm bridging the cultural and economic gap between Africa and the Global market through trade and investment facilitation based in Atlanta, Georgia.

Emory University was represented by Dr. Sam Cherribi, Director of the EDI, Matilda Arhin represented the GAP, and Simon Madjie, Executive Director, represented the AmCham AfCFTA Resource Center.

 

About AmCham Ghana

The Chamber is the representative arm of U.S. businesses and subsidiaries voluntarily working to create an environment where business can thrive between Ghanaian and American communities. AmCham exists to promote commercial, economic, educational, and cultural ties between the United States of America and the Republic of Ghana. The chamber is an affiliate of the U.S. Chamber of Commerce, which is the world’s largest business association with over one million members worldwide.

About Emory University

Emory University is a private research university in Atlanta, Georgia. Founded in 1836 as “Emory College” by the Methodist Episcopal Church and named in honor of Methodist bishop John Emory, Emory is the second-oldest private institution of higher education in Georgia.

 

AmCham Ghana and U.S. Embassy Ghana Launch SelectUSA Summit Recruitment

AmCham Ghana, in collaboration with the U.S. Embassy in Ghana, on Monday, April 25, 2022, hosted a business breakfast for entrepreneurs and business executives to share valuable insight on investing in the United States through the SelectUSA Program.

The event featured remarks from AmCham Ghana President, Ayesha Bedwei Ibe, who noted the importance of Ghanaian companies expanding into the American market and reiterated the Chamber’s commitment to promoting investment and prosperity between the United States and Ghana.

Officials from the U.S. Embassy in Ghana, including Acting Deputy Chief of Mission Stephanie Hutchison and Commercial Counselor Dean Matlack, also highlighted the available U.S. Government resources for investors, the United States’ strong culture of innovation, the country’s business environment, labor force, diversity of industries, and lucrative domestic consumer market.

Dean Matlack will lead the Ghanaian delegation to the SelectUSA Summit, which will be held on June 26-29, 2022, in Washington, DC.  He encouraged interested Ghanaian companies to sign up for this major networking event, if not this year, then next.

PwC, Kimanthi and Partners, and McDan Shipping and Logistics discussed market entry considerations, legal aspects of foreign direct investment, and the logistics of moving goods to support investments abroad.  United Airlines highlighted its services for travelers to the SelectUSA Summit.

This event was sponsored by  PwC Ghana, United Airlines, and MCDan Shipping Company Ltd.

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/.

Credit: https://gh.usembassy.gov/

 

AmCham Ghana Hosts First Franchise Committee Meeting

The Chamber, on Tuesday, March 29, 2022, hosted the first AmCham Ghana Franchise Committee meeting at the secretariat.

Discussions were on helping franchisees secure funding and investment for their operations in the country. The committee members who are franchise holders also shared some of their challenges in doing business in Ghana and suggested measures that could help improve the business environment for franchisees.

The AmCham Ghana Franchise Committee is an AmCham Ghana initiative supported by the  U.S. Commercial Service in Ghana and chaired by Ashok Mohinani, Executive Director of Mohinani Group which also owns all the KFC franchises in Ghana. The committee’s membership includes executives from AVIS, FedEx, Interbrand Ghana, UPS, Orkin, Dominos Pizza, Burger King, and Original American Cola.

The franchise committee aims to help build a profitable franchise ecosystem in Ghana by promoting successful franchises and advocating for laws and policies that will improve the ease of doing business for franchisees.

Implications of AfCFTA for International Businesses

The AmCham AfCFTA Resource Centre, under the auspices of the Ameican Chamber of Commerce, Ghana, on Tuesday, March 8, hosted Dode Seidu, a trade advisor and AfCFTA consultant for the first edition of the webinar series on the implications of African Continental Free Trade Area agreement for international businesses.

The event provided an overview of the trade agreement and updates on its implication. Our speaker also touched on the Rules of Origin and its benefits for International Businesses and provided insight into AfCFTA in the context of intra-Africa trade.

The African Continental Free Trade Area (AfCFTA) agreement creates the largest free trade area in the world measured by the number of countries participating. The pact is said to connect 1.3 billion people across 54 countries with a combined gross domestic product (GDP) valued at US$3.4 trillion.

The trade agreement aims to create a single market for goods and services, facilitated by the movement of persons to deepen the economic integration of the African continent. So far, 28 countries have made Tariff Offers that have been certified by the AfCFTA Secretariat as having met the minimum threshold requirement of 90% of the tariff lines and ready to commence trading under AfCFTA.

As to the implications for international business, the mutual recognition of standards, licensing, and certification of service suppliers will make it easier for businesses and individuals to satisfy the regulatory requirements of operating in each other’s markets. Also, the dispute settlement mechanism provides a rule-based avenue for the resolution of any disputes that may arise between State Parties in the application of the agreement.

Watch the full event below.

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AmCham Ghana 25th PwC Annual Global CEO Survey Digest

The Chamber, on March 1, 2022, hosted Richard Ansong, Partner at PwC Ghana, for a webinar on the recently released 25th PwC Annual Global CEO Survey titled Reimagining the Outcomes that Matter. The webinar was to break down the survey findings to provide insight into what global CEOs make of the business year ahead as businesses gradually recover from the pandemic.

The 2022 Global CEO Survey reflects the threats, uncertainties, and tensions associated with the pandemic and other issues such as cyberattacks and macroeconomic shock. Over the past 25 years, PwC has had the privilege to gather insight and sentiment of CEOs around the world to analyze and provide some perspective as to what is most important and works most for these CEOs.

The survey was conducted in October and November of 2021, and in aggregate, CEO optimism has remained stable, and high. About 77% of executives said they expect global economic growth to improve during the year ahead, an uptick of one percentage point from the previous survey (conducted in January and February of 2021) and the highest figure on record since 2012.

Watch the full webinar below.

 

AmCham 2022 Black History Month Celebration

The American Chamber of Commerce, Ghana, in collaboration with Webster University Ghana Campus and Yaw Pare Photography, on February 24, 2022, marked the 2022 Black History Month celebrations with art at the Webster Ghana campus.

Held under the theme,  The Health and Wellness of Accepting the Remnants of a Haunted Past. (The role of Forts and Castles of Ghana, by Yaw Pare), the event was attended by members, friends, and associates of the Chamber and our organizing partners.

The 2022 AmCham Black Month celebration featured remarks from the Chamber’s Executive Secretary, Simon Madjie, and Membership, External Relations, and Project Manager, Jane Okyere-Aduachie. It also featured remarks from the President of the African-American Association of Ghana, Sherrie Thompson, the Academic Director at Webster Ghana, Dr. Linda Deigh, and Yaw Pare who shared the story behind his new book, Remnants of a Haunted Past: Forts and Castles of Ghana.

The forts and castles themselves bear witness to the horrors of the transatlantic slave trade and slavery, so too do these photographs provide compelling material and visual testimonies, offering possibilities for understanding that words do not. Yaw’s camera captures a reality that many choose to remember but just as many choose to forget. Ultimately, Remnants of a Haunted Past: Forts and Castles of Ghana constitutes an attempt to document the past so that it is never forgotten in the present.

The event featured poetry on the beauty of Ghana and a drama skit reenacting the horrors of the slave trade.

Black History Month is an annual celebration of achievements by African Americans and a time for recognizing their central role in U.S. history. Also known as African American History Month, the event grew out of “Negro History Week,” the brainchild of noted historian Carter G. Woodson and other prominent African Americans. Since 1976, every U.S. president has officially designated the month of February as Black History Month. Other countries around the world, including Canada and the United Kingdom, also devote a month to celebrating Black history.

The State of Security in West Africa | An Epidemic Of Coup D’États;” Is West Africa Still Attractive For FDI?

The Chamber, on Wednesday, February 23, 2022, hosted a webinar on the state of security in West Africa to discuss the impact of the various coups on Foreign Direct Investment to the region.

Speaker for the event, Mutaru Mumuni Muqthar, Executive DirectorWest Africa Centre for Counter-Extremism, provided insight into the history of coup d’etats in West Africa.

His presentation also covered the threat of extremism in the region, stating that about 53% of West African countries are currently experiencing terrorist violence. According to Mutaru, piracy has also descended from the Horn of Africa to the waters of the Gulf of Guinea. “Gulf of Guinea is currently the deadliest waters globally. 43% of all piracy incidents took in the Gulf of Guinea in Q1 of 2021.”

Despite these challenges, Mutaru maintained that West Africa is still attractive for Foreign Direct Investment. Nigeria, he said attracted one-tenth of all FDI in 2020, notwithstanding threats of terrorism and COVID-19.  The continent continues to see a huge increase in FDI. “A year after the pandemic, there has been more than $4.7 billion in venture funding.”

Watch the full event below.

AmCham 2022 Ghana Economic Outlook Forum

AmCham Ghana on January 28, 2022, hosted the 2022 edition of the Ghana Economic Outlook forum. Speakers for the event included Abeku Gyan-Quansah, Tax Partner at PwC Ghana, and Eric Osei-Assibey, Associate Professor at the Department of Economics at the University of Ghana.

Their presentations focused on the practical implications of the 2022 budget, provided insight into the government’s tax provisions, fiscal and monetary development, debt sustainability, and key macroeconomic performance and targets.

They also shared insight on the upside and downside of the country’s economic outlook.

Watch the full session below.

 


 

 

 

 

 

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AmCham Ghana Commissions Its New Secretariat

The United States Ambassador to Ghana, Stephanie Sullivan, on Friday, 17 December 2021, commissioned the new AmCham Ghana secretariat at no. 10 Mensah Wood Avenue, East Legon, Accra. 

Also present at the commissioning were AmCham Ghana President, Ayesha Bedwei Ibe, Executive Secretary, Simon Madjie, Counselor for Commercial Affairs at the U.S Embassy in Ghana, Dean Matlack, Former AmCham Ghana President, William Ohrt, some Chamber members, associates, and staff.

Speaking at the event, Ambassador Sullivan noted that, ”AmCham Ghana has its eye on the future as it looks to position itself for success in Africa’s rapidly changing business environment.”  ”AmCham plays an important role in attracting and keeping those companies in Ghana,” she added.

The new AmCham Ghana secretariat hosts the newly created African Continental Free Trade Area (AfCFTA) Resource Center aimed at proving U.S. companies an in-depth understanding of the implementation of the AfCFTA agreement as well as helping them navigate opportunities presented by the continental trade pact.

Commenting on the Resource Center, the Ambassador noted that Africa’s economy continues to develop and opportunity is ripe for the AfCFTA to deliver on its promise to expand intra-regional trade and capture new foreign direct investment. ”And with this new Resource Center, Ghana will be there to help American companies navigate those opportunities,” she added.

Our President, Ayesha Bedwei Ibe, during her remarks, expressed her appreciation to members and associates for their continued support and noted that as part of the Chamber’s effort to boost trade between Ghana and the United States, AmCham will hold forums targeted at helping Ghanaian businesses invest in the United States.

AmCham U.S. – Ghana Franchising Roundtable

The American Chamber of Commerce, Ghana, on December 6, 2021, hosted  Cynthia Griffin, Minister Counselor for Commercial Affairs for Sub-Saharan Africa in Accra, for a roundtable discussion on building a sustainable and profitable franchise ecosystem in Ghana.

The roundtable held under the theme, Creating a Profitable Franchise Market in Ghana, had in attendance Dean Matlack, Counselor for Commercial Affairs at the U.S Embassy in Ghana, and selected franchisees including UPS, Burger King, U.S. Tampico, Pizza Hut, Harley Davidson, MAC Cosmetics, and Pinkberry. Also present at the meeting were AmCham Ghana Executive Secretary, Simon Madjie, Jane Okyere-Aduachie, AmCham Ghana Membership, External Relations and Project Manager, representatives from the U.S. Embassy in Ghana, as well as a representative from the law firm, Kimathi, and Partners.

In 2020, there were an estimated 753,770 franchise establishments in the United States with an economic output of 670 billion U.S. dollars, employing about 7.49 million people.

Dean Matlack, Counselor for Commercial Affairs at the U.S Embassy in Ghana, during his remarks said he believes Ghana is well-positioned to grow its franchise industry and indicated that it is a priority for his office. He also added that franchising has a lot of potential in promoting bilateral trade between the United States and Ghana.

The guest speaker for the event, Cynthia Griffin, noted the importance of understanding the new franchising schemes and stressed the need to create an enabling business environment to help new and existing franchises grow. ”We need a proper business environment to develop a franchise industry.”

The meeting also featured discussions on some challenges faced by franchisees, such as supply chain integration and the cost of importing equipment and other inputs. Attendees noted the importance of creating auxiliary industries to manufacture machinery and services to help cut the cost of doing business.

The franchise roundtable also doubled as the inaugural meeting of the newly formed Franchise Committee. An AmCham Ghana initiative in collaboration with the U.S. Commercial Service in Ghana aimed at creating a platform where franchisees and other professionals dialogue on pressing issues, share ideas, and advocate for a favorable business environment.