AmCham Ghana Announces Speaker for U.S.-Ghana Business Forum

 

The American Chamber of Commerce, Ghana, in collaboration with the U.S. Chamber of Commerce, is pleased to announce Reginald Yofi Grant, CEO of the Ghana Investment Promotion Center (GIPC), as a speaker for the 2021 Virtual U.S. – Ghana Business Forum.

Yofi Grant will speak on the topic; Investment Opportunities in Ghana for U.S. Investors in the Context of AfCFTA.

Click Here To Register 

 

 

The US-Ghana Business Forum is an annual flagship, high-level meeting between U.S, Ghanaian Government Officials, and Businesses aimed at deepening diplomatic and commercial partnerships between Ghana and the United States.

The 2021 Forum is premised on the theme: Promoting U.S.-Ghana Partnership through Trade and Investment and comes on the back of Ghana’s hosting of the Africa Continent Free Trade Area Secretariat and also after several months of trading through the AfCFTA. The AfCFTA is the world’s largest free trade area in terms of number of countries encompassing 1.2 billion people and about US$2.5 trillion. The AfCFTA presents a window for African countries and their trading partners to take advantage of the many trade and investment opportunities created. Trading partners who had hitherto focused on bilateral trade relations, now have the opportunity to reach larger African markets through the AfCFTA.

The 2021 Forum aims to strengthen trade and investment, promote business partnerships, and opportunities between U.S. and Ghanaian Companies in key sectors including: Technology and digitization, Energy and Mining, Infrastructure, Manufacturing, Services and Franchising. The forum will also review trading under the AfCFTA and assess how U.S. and Ghanaian companies can take advantage of this opportunity.

The event will be virtual to be held over two days. The forum will have several sessions including plenary with high-level government officials as speakers; panel discussions on sectors involving experts and senior U.S. and Ghanaian Officials and leaders from the business community. It will serve as a platform to explore new business opportunities and address regulatory challenges affecting trade and investment. Further access details will be sent following registration. Register Here

For Enquiries
executivesecretary@amchamghana.org
communications@amchamghana.org

AmCham Ghana Farewell Luncheon For Senior Commercial Officer – Hannah Kamenetsky

The American Chamber of Commerce, Ghana, held a farewell luncheon for Hannah Kamenetsky, Senior Commercial Officer at the U.S. Embassy in Ghana.

Hannah, throughout her stay, actively participated in chamber activities and contributed immensely towards the strengthening of U.S. – Ghana economic relations by assisting new American companies to establish their presence in Ghana as well as assisting already established companies to streamline their operations.

AmCham Ghana President, Ayesha Bedwei, expressed her appreciation for Hannah’s contributions and support towards the development of the chamber and wish her the best in her next assignment.

The chamber also presented Hannah with a Certificate of Appreciation and portrait as a token of appreciation.

U.S. Ambassador To Ghana Visits Bunge Loders Croklaan

The U.S Ambassador to Ghana, Stephanie Sullivan, on Tuesday, July 13, 2021, visited the Bunge Loders Croklaan shea butter processing facility at the Free Zone Enclave.

The visit was to have a first-hand experience of Bunge’s operations in Ghana and have an interaction with management. Bunge Loders Croklaan in 2019 opened its shea plant to process shea butter made from locally collected and crushed shea nuts into two products – shea olein and shea stearin.

The Ambassador was briefed on the companies history and operations across the globe, including its sustainability efforts to support the women involved in the collection of shea nuts as well as environmental sustainability efforts in shea nut production. Amb. Sullivan was also given a tour of the company’s facilities, including its fully automated solvent fractionation plant, which the company says is the largest facility of its kind in Africa.

 

The facility at the free zone enclave is the company’s first shea processing plant in Africa, and Bunge Loders Croklaan says that the site will allow it to meet the growing global demand for shea.

Bunge Loders Croklaan has more than two centuries of experience, unmatched global scale, and deeply rooted relationships everywhere they operate.

They provide ingredients and know-how to some of the world’s biggest brands with products such as specialty oils and milled grains, which are key ingredients for consumer and restaurant brands – and in home kitchens around the world.

 

AmCham Ghana Engages Ministry Of Finance On Digital Taxation

The American Chamber of Commerce engaged the head of tax policy at the ministry of finance on Thursday, July 1st in Accra to discuss the government’s role out of taxing the digital economy.

The Chamber members present were drawn from the digital sector and it was an opportunity for them to make input into the ongoing taxation of the digital economy.

Mr. Daniel Nuer, Head of Tax Policy at the Ministry of Finance outlined the legal regimes for taxation of the digital economy. He also assured his audience that government will soon produce guidelines to define the process of paying taxes within the digital sector. “Our VAT and Income Tax laws have provisions for tax e-commerce activities, the guidelines to implement these laws will soon be available to assist companies to be compliant especially for non-resident entities.”

The discussions also addressed the issue of taxation on micropayments made online, the expansion of payment options, and the plight of non-resident entities in the digital economy. PwC and KPMG made presentations on best practices from some jurisdictions on the topic and encouraged the ministry to make the guidelines readily available.

Members of the committee present or represented at this meeting, included; VISA, Mastercard, TechGulf, Uber, Emergent, American Tower Corporation, Google, and officials of the U.S Embassy.

AmCham Ghana Networks Over Beer And Bites

On June 24, 2021, Django Brothers and Smoke ‘n’ Barrel hosted AmCham Ghana for a networking event at the Smoke ‘n’ Barrel bar and restaurant.

The event was to allow members to interact and network in a relaxed and casual environment. It also featured raffle draws with some members winning exciting prizes.

Smoke ‘n’ Barrel is all about its outside space. Wooden seating and planks behind a long bar create a homey atmosphere where ex-pats and locals meet to sip on beers and drinks.

The place features Takeout, Seating, Parking Available, Street Parking, Free off-street parking, Television, Wheelchair Accessible, Serves Alcohol, Full Bar, Wine and Beer, Table Service, Delivery, and Outdoor Seating.

Django Bros is West Africa’s first manufacturer of Craft beer & Beverages. Their Beers are handcrafted with the finest ingredients. Their vision is to brew flavorful & unique handcrafted beers, delivering an exquisite experience to the community.

Django currently has three beers IPA, WEISS & LAGER. Our Mixers are one of a kind & we believe they enhance the pleasure of the spirit they are consumed with. Their range includes Tonic water, Hibiscus Tonic water, Soda Water, Ginger Ale, Bitter Lemon & Smoky Cola Recommendation: Try the IPA beer for a treat of flavor & Aroma & Gin with our hibiscus tonic.

Remarks By AmCham Ghana As Delivered By Simon Madjie To Senator Chris Van Hollen (Chair of the Subcommittee on Africa & Global Health Policy) | Africa-AmCham Summit

Senator Chris Van Hollen, thank you for taking the time to meet with us today. I’m Simon Madjie from AmCham Ghana and we have 120 members who are actively promoting a strong trade and investment relationship between the U.S and Ghana. AmCham Ghana has been the representative arm of U.S businesses and subsidiaries in Ghana for 32 years.

Bilateral trade between the United States and Ghana is about $1.8 billion and U.S FDI stock in Ghana in 2019 is about $1.6 billion. The United States and Ghana signed the Trade and Investment Framework Agreement in 1999 and in 2018, the two countries signed the Memorandum of Understanding to promote trade and investment in strategic sectors during the visit of Secretary Wilbur Ross and members of the PAC-DBIA to Ghana.

Ghana has since been chosen to host the secretariat of the Africa Continental Free Trade Area (AfCFTA) and trading within the Continent has commenced. “As we say in Africa, he who contributes to the building of a house will have a room in that home” This is the time, Honorable Senator, for the U.S Congress to assist Africa to build a credible and inclusive trade bloc, which will make it easier for U.S investors and traders to navigate the market. Areas of support may include; the digital economy, women and youth participation in trade, intellectual property rights protection, customs harmonization, and dispute resolution mechanisms.

I’m happy to announce that Marriott International and Development Alternatives Incorporated (DAI) headquartered in Bethesda, Maryland are some U.S companies from your home region making a significant contribution to Ghana’s development. At this point, I wish to request that more support is required from Congress to protect U.S companies during business aboard especially exporters of U.S goods and services.

The U.S business community in Ghana and on the Continent joins the call for the developed world to make available vaccines to combat the deadly COVID-19 virus. The U.S administration is commended for its bold plan to make available 500 million doses and the easing of the TRIPS agreement to allow less endowed countries to manufacture vaccines.

Again, thank you very much for meeting with us. Should you be interested in more information about Ghana and the AmCham, I would be delighted to follow up separately.

Advance With Africa AmCham Summit – Day 1

On June 16, 2021, the U.S. – Africa Business Center hosted AmChams from across the continent,  partners, stakeholders, and some government officials for the virtual Advance with Africa AmCham Summit to share the U.S. Chamber’s priorities and expectations for the new U.S. Government’s Administration as well as to strengthen advocacy capabilities to facilitate the ease of doing business in respective markets across Africa.

Day one of the summit featured a Presidential address from Ghana’s President, H.E. Nana Akufo-Addo on the Future of U.S. -Africa Economic Relations. The President reiterated the importance of the summit and the need to promote cooperation among countries to fight COVID -19 and foster shared prosperity. ”The importance of this event cannot be lost on anyone, especially as the nations of the world strengthen their cooperation to eliminate the scourge of the COVID-19 pandemic.”

”It is in the mutual interest of Africa and the United States of America, and indeed the rest of the world to forge relationships that will guarantee prosperity for us all,” the President added.

Other speakers at the summit included Scott Eisner, President of U.S.-Africa Business Center (USAfBC) at the U.S. Chamber of Commerce, who delivered the welcome remarks, touching on the importance of making Africa engagement a presidential priority, capacity building to support the African continent’s free trade area, deepening and expanding the progress of a whole-of-government approach to enhance the competitiveness of U.S businesses on the continent, and engaging leaders on the continent on policy and regulatory practices to support the growth of the digital economy and trade.

The summit also featured remarks from Don Graves, Deputy Secretary of Commerce at the U.S. Department of Commerce on the State of U.S.-Africa Trade and Investment Relations, and Dana Banks, Special Assistant to the President and Senior Director for Africa at the National Security Council, who presented An Overview of the Biden-Harris Africa Policy. 

The event also hosted panel discussions on Using the AfCFTA as a Vehicle for African Economic Recovery and Tools for Expanding U.S. Commercial in Africa.

WATCH THE FULL SEMINAR HERE

PSCAG Discusses Government’s Revenue Mobilization Drive

The Private Sector Anti-Corruption Group (PSCAG), an association-led institution made up of various Chambers in the country, held a closed-door discussion with officials of the Ghana Revenue Authority to assist the country to increase domestic revenue mobilization and discuss some associated challenges with tax collection.

The encounter held on Wednesday, June 10 at the Villa Boutique Hotel in Osu was attended by representatives of the GRA, PwC, KPMG, EY, and heads of the various Chambers of Commerce in the country.

Speaking on reforms at the GRA to aid tax collection, Deputy Commissioner Daniel Edisi, outlined new digital approaches to mobilize revenue across various sectors of the economy.

“Payment of taxes will be cashless and digital to speed up time spent paying taxes and improve accountability in the tax collection process”

In answering questions on the perception of harassment from GRA officials, Mr. Edisi urged the attendees to take advantage of the newly created Tax Audit and Quality Assurance Department (TAQA) to report such officers for investigations and swift sanctions applied.

“Report these recalcitrant officers on condition of unanimity to TAQA and they will be punished accordingly if investigated and found guilty”

Mr. Dominic Naab and Mr. Victor Akogo, also of the GRA addressed attendees and answered questions about withholding taxes, VAT, exemptions, and tax assessment. They advised businesses to desist from making false representations during tax audits. The trade associations also applauded the government for its digital drive in tax collection but urged the GRA to communicate and engage with businesses on regular basis. They also called on the government as a matter of urgency to broaden the tax net and operationalize the TAX APPEALS BOARD.

 

About PSCAG

PSACG is a private sector association formed by the U.K-Ghana Chamber of Commerce (UKGCC), American Chamber of Commerce-Ghana(AMCHAM), Canada Ghana Chamber of Commerce (CANCHAM), Ghana Netherlands Business and Culture Council (GNBCC), French Chamber of Commerce and Industry Ghana (FCCIG), and the Association of Ghanaian Industries (AGI) in 2018 with the goal of addressing practices that impact the private sector negatively through advocacy and strategic dialogues.

 

The New US/Africa Relations Webinar

The American Business Council Nigeria, in partnership with the US Chamber of Commerce, AmCham Ghana, AmCham Kenya, and AmCham South Africa, held a webinar to highlight the critical concerns by African Nations and the US Business Community in Africa as well as chart the way forward for the US-Africa relationship.

The meeting featured remarks by the President of the U.S.- Africa Business Center/Sr. Vice President, U.S. Chamber of Commerce, Scott Eisner, the U.S. Ambassador to Nigeria, Ambs. Mary Beth Leonard, President of the American Business Council Nigeria, Dipo Faulkner, AmCham Ghana President, Ayesha Bedwei, Deputy Assistant Secretary of State for African Affairs, Akunna Cook, and AmCham South Africa President, Angela Russell.

The event also featured a panel consisting of Terence P. McCulley, Senior Director Africa Practice for McLarty Associates, Aubrey Hruby, Senior Fellow at the Africa Center at the Atlantic Council, and Akunna Cook for a discussion on U.S. – African relations.

AmCham Ghana Hosts Farewell Luncheon For Economic Section Chief – Hagen Maroney

AmCham Ghana, on Friday, May 28, 2021, hosted the Economic Section Chief at the U.S. Embassy in Ghana, Hagen Maroney, for a farewell luncheon with the Chamber Executives.

Mr. Maroney has been instrumental in promoting and further strengthening economic relations between the United States and Ghana through several engagements with stakeholders and has actively participated in Chamber activities, contributing immensely to its development.

The luncheon was to formally extend AmCham Ghana’s appreciation for his service and contributions. Present at the lunch were the President of the Chamber, Ayesha Bedwei, the Vice President, Pakwo Shum, Former Presidents, Joe Mensah and Philippe Ayivor, and Executive Secretary of the Chamber, Simon Madjie.

The Chamber Executives expressed their appreciation for his works and wished him the best in his future endeavors.