AmCham Hosts Students And Faculty From Jackson State University

The American Chamber of Commerce, Ghana, on June 10, 2019, hosted students and faculty from the Jackson State University (JSU), Mississippi, as part of their short-term- faculty-led international experience that includes organized cultural, research, and experiential learning activity. At the meeting, the students interacted with the President and some members of AmCham as well as senior officials from the United States Embassy in Ghana on the socio-cultural and business environment in Ghana.

According to the students, their trip to various parts of the country gave them practical experience and a deeper understanding of the history and culture of Ghana – especially the transatlantic slave trade- as well as the Ghanaian business environment. They also expressed the desire to learn about the public health sector and the Ghanaian educational system.

Addressing the students, Mr. Joe Mensah, President of AmCham, stressed the importance of exchange programs that foster knowledge sharing between businesses and the academic community. He further stated that, AmCham Ghana is the most dynamic chamber in sub-Saharan Africa and that the Chamber supports all American companies and Americans in the country to ensure their success. He also noted that Ghana’s agriculture sector contribution to GDP declined over the years due to factors such as aging population and lack of interest from the youth among others. He was however optimistic of the progress currently being made in the sector and highlighted some investments American companies have made to revive the agriculture sector in the country. He then stressed the need for American companies to take advantage of the common language and the similarity of laws between Ghana and America to invest in the country and the African continent at large.

Members of the chamber, drawing from their years of experience in Ghana and other African countries, also educated the students on the services of AmCham, the business environment in Ghana, possible funding sources for American students, as well as the challenges in African national leadership.

In addition, Hannah Kamenepsky, Senior Commercial Officer of the U.S Embassy in Ghana, briefed the students on Ghana’s strong trade partnership with the U.S, its growing economy, and its attractive business environment.

Finally, Mr. Joe Mensah, in closing the meeting, thanked the students and also expressed his gratitude to the U.S Embassy for their support to AMCHAM over years.

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AmCham Ghana Supports United Way Ghana For Nyansapo Literacy Project

The Chamber joined United Way Ghana to launch of the Nyansapo Literacy Project at the Ayebeng A &B Memorial Basic School in the Greater Accra Region of Ghana.

The Nyansapo Literacy Project is a United Way Ghana initiative which is sponsored by the American Chamber of Commerce, Ghana, to promote childhood literacy at the Ayebeng Memorial Primary School in Accra. The launch will kick start a weekly literacy engagement of students in lower primary and make reading books available in every classroom to encourage reading among students.

Speaking at the event, AmCham Ghana Executive Secretary, Simon Madjie, said the Chamber exists to promote investment between Ghana and the United States but also takes a keen interest in educating the future businessmen and women who will take charge of these investments. He said the Chamber is pleased to sponsor the Nyansapo Literacy Project and will be willing to offer further support in the future.

A major component of the project – ‘Library In A Box’ was presented to the school. Each class in the school was given a box of books to make materials accessible & inspire reading culture in pupils.

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AmCham Ghana Hosts USTDA Regional Director For A Business Breakfast

The American Chamber of Commerce, Ghana, on Friday, 5th April 2019, hosted Heather Lanigan, USTDA Regional Director for Sub-Saharan Africa for a business breakfast meeting at the residence of the U.S. Ambassador to Ghana.

HE Stephanie S. Sullivan, United States Ambassador to Ghana, commended the leadership of AmCham Ghana for a vibrant chamber and the positive relationship between Ghana and the United States, adding that the United States shares Amcham Ghana’s goals to contribute positively to the overall economic stability in Ghana to help U.S businesses prosper and grow, to increase job opportunities and to encourage and promote Ghana’s private enterprise system.

Ambassador Sullivan gave a brief overview of the work of USTDA, noting the organization provides grants for project preparatory activities that cover economic, environmental and financial analysis for public or private sector infrastructure projects in middle or low-income countries around the world as part of USTDA’s core mission of facilitating the development of sustainable infrastructure projects and supporting the use of U.S. equipment and services. She urged members of the Chamber to take advantage of USTDA’s assistance and stated that the USTDA is not just a trade and development agency but an organization involved in transforming dreams into actions.

Mr. Joe Mensah, President of AmCham Ghana, highlighted the importance of infrastructure development and emphasized the need for Ghana to improve the business environment to attract more investments.

Heather Lanigan, USTDA Regional Director for sub-Saharan Africa stated the USTDA works alongside U.S. private sector to support the development of infrastructure in emerging economies around the world in energy, transportation, ICT, telecommunications and in some countries agribusiness to spur economic growth in partner countries and also present great opportunities for U.S companies.

Ms. Lanigan indicated that USTDA funds project preparation activities such as large scale feasibility and technical studies; and pilot projects. In addition, USTDA provides training grants to U.S. companies as well as hosts events and activities -such as the Reverse Trade Missions among others – that bring together key stakeholders from the private and public sector around the world.

She highlighted the impressive rate of return on projects supported by USTDA and noted sub-Saharan Africa, which is the region with the highest potential for infrastructure growth and strong partnerships, as also the largest region for USTDA investments. Ms. Lanigan noted that USTDA has a large variety of projects in Ghana within the aviation and energy sectors and is willing to support the development of other projects in the country.

USTDA’s priority sectors, funding criteria, project preparatory tools (feasibility Studies, pilot projects, and training grants), convening tools (Reverse Trade Missions and Technical Assistance) as well as USTDA’s past and current projects in Ghana were presented by Clare Sierawski, Power Africa Country Manager, West Africa and Shannon Roe, Country Manager, West Africa Region.

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AmCham Ghana Signs MoU With Young African Leaders Initiative

The American Chamber of Commerce, Ghana on Friday, March 22, 2019, signed a Memorandum of Understanding with the Young African Leaders Initiative (YALI) Accra Regional Leadership Center. The MoU was signed during the closing ceremony of YALI Cohort 13.

The MoU is to establish a framework for communication and collaboration between AmCham Ghana and YALI Accra RLC.

The two organizations are interested in sharing strengths and experience to promote and develop West Africa young businessmen/businesswomen’s entrepreneurial and leadership skills.

Young African Leaders Initiative (YALI) was launched by the United States government as a signature effort to invest in the next generation of African leaders, and this partnership with AmCham Ghana will further enhance YALI’s efforts in shaping the future of business and entrepreneurship, civic leadership, and public management.

The participation of the private sector in youth training is a key investment to build a more stable society with better citizens, better business leaders, and more responsible consumers. Under the terms of this MoU, AmCham Ghana will serve as a Resource Partner to YALI Accra RLC, through in-kind contributions, AmCham will offer speakers for training sessions in the RLC. The Chamber will also offer mentoring and internship opportunities for RLC participants.

Also, AmCham as a Driver of Sustainability will provide assistance in areas which will respond to and address developmental challenges in Africa.

The delivery of high-quality training will enable young people to engage more directly in the knowledge society and contribute to the competitiveness of the national economy, for this reason, AmCham Ghana is pleased to go into this partnership with YALI.

About AmCham Ghana

The American Chamber of Commerce (Ghana) is a voluntary association of professional and business people, 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.
Amcham is the first point of resort for sourcing business contacts for US Trade and Congressional delegations. Over the years, the Chamber has met with and briefed many Trade and Congressional delegations. Learn more…
About YALI

The Young African Leaders Initiative (YALI) was launched by the United States government as a signature effort to invest in the next generation of African leaders. The need to invest in grooming strong, results-oriented leaders comes out of the statistics: nearly 1 in 3 Africans are between the ages of 10 and 24, and approximately 60% of Africa’s total population is below the age of 35. Who will empower and lead these young Africans? Who will shape the future of business and entrepreneurship, civic leadership, and public management? In order to answer these questions, YALI promotes three models designed to identify and empower young leaders: the YALI Mandela Washington Fellowship, YALI Network and now the establishment of Regional Leadership Centers across Africa.

Supporting this progress, the Accra Regional Leadership Centre (RLC), as part of the United States government initiative, Young African Leadership Initiative (YALI), will offer an innovative and game-changing leadership training program in Africa. The program will be hosted by Ghana Institute of Management and Public Administration (GIMPA), and the first cohort will walk through the doors on the 31st July 2014. Learn more…

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AmCham Ghana – MiDA Procurement Seminar

On February 28, 2019, the American Chamber of Commerce, Ghana organized a Procurement Seminar in collaboration with the Millennium Development Authority to lay bare the various procurement opportunities available under the current Ghana Power Compact.

Procurement Director at MiDA, Frank Mante, took participants through the various procurement opportunities available under Compact II and urged local companies to take advantage of these opportunities.

Mr. Mante said MiDA runs a very transparent and fair bid selection process and that everyone stands a chance to win, provided they present all that is required and submit their bids on time.

President of the American Chamber of Commerce, Ghana, Joe Mensah, advised Ghanaian entrepreneurs not to feel intimidated by the challenge, but rather come on board with the hope and optimism that they would sail through.

“You are well qualified for the challenge as a Ghanaian entrepreneur; do not feel intimidated because your enterprise is not big, visit the website, know more and discover where you can fit in and join,” he said.

Frank Mante also made it known during his presentation that, some Ghanaian companies were able to win contracts under Compact I, therefore, Compact II should see more local companies participating.

He added that in order not to be disqualified, participants should submit accurate documents within the stipulated deadlines.

Martin Eson Benjamin, Chief Executive Officer of MiDA, encouraged small companies to look out for partnerships with business in order to meet up with requirements.

Click here to Download the Presentation. 

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Stockfox | AmCham Ghana Member Of The Month

Personalized shipping solutions provider, Stockfox is our Member of the Month for February.  The company officially launched in 2017 and has since provided tailored shipping solutions to meet the specific needs of their clients.

The company has dedicated personnel, ready to assist, support and provide you with the assistance you need to get your packages safely delivered to you. Stockfox currently has operations to Ghana out of the United States of America, United Kingdom, China, and Dubai.

Being a home-grown business venture, Stockfox can boast of a crafted courier service that gets customers what they need, when they need it and how they need it, without the hassle of having to contact and depend on friends and relatives and be at the mercy of other people’s schedules.

The companies scope of services which is perfect for individuals and small to large businesses include;

Package reception – you can shop yourself and mail packages to our addresses (after signup )in countries of operation for onward shipping to Ghana

Personalized Shipping – tailored to your specific shopping and shipping needs.

Concierge Service – Cant travel to do your shopping? This service assists with online purchases with our credit/debit cards if you are unable to. The service also includes in-store pickups and other personal shopping needs at your request.

 

Package Storage and Consolidation Service – We hold all packages till they are ready to be shipped as one bulk package to save on shipping costs.

Auto parts Service – Assists with the acquisition of automobile parts across Europe and the Americas. We provide new, used and refurbished prices to suit your budget and ship to Ghana.

Ship Only Service – Have your own clearing agent? We can simply ship your packages to you and hand over to your clearing agent. (2 business days)

All-Inclusive Service – StockFox handles your package reception, shipping, and Clearing (this includes delivery to your door at your request in 3-5 business days)

Contact

Our location
Ghana Airport Cargo Centre,
Suite 311
Airport City
Accra
Office phone
+233 24 243 8645
Working hours
Mon – Fri: 9AM – 5PM
Extended hours are on a case by case basis.

(Corporate/Time Sensitive Shipments)

Email
info@mystockfox.com

AmCham Host Students From The State University of New York at Buffalo

The American Chamber of Commerce, Ghana hosted some students from the State University of New York at Buffalo (UB) on Monday, 14th January 2019 as part of the University’s Social Innovation and Entrepreneurial Leadership Program. During the meeting, the students from UB had the privilege of interacting with AmCham Ghana President, Joe Mensah, some business executives from AmCham member companies and senior officials of the Ghana Investment Promotion Centre on the business environment in Ghana.

The students comprised medical and non-medical students, shared their experiences concerning their trip to various parts of the country focusing on their activities in health, economic development, business and sanitation among others.

Addressing the students at the beginning of the meeting, Mr. Joe Mensah noted that Ghana’s peaceful political atmosphere makes it a very attractive destination in West Africa for investors all over the world. He also noted that the common language (English) and similarity of laws of Ghana and many western countries makes Ghana even more attractive to investors.

According to him, the Government of Ghana, through its Ghana Beyond Aid Agenda, seeks to make the country self-sufficient. He however lamented the decline in the contribution of the agricultural sector to GDP in the country over the years but was optimistic of the progress being made in the sector in recent years. He commended the educational system of Ghana as being highly competitive and producing a highly skilled workforce and reiterated that Ghana is a good place to do business.

Representatives of the students from both the medical and non-medical fields gave an overview of the various activities they had undertaken in the country which included: running health clinics, visiting a number of businesses and market centers and tourist attractions. According to them, the experience which they described as invigorating also gave them an understanding of emerging trends in the Ghanaian economy.

An important issue that was raised by the students during the meeting was how to manage business and ethics in Ghana. Some members of the Chamber present at the event noted that whiles corruption and leadership has been the bane of Africa and Ghana for that matter, businesses needed to stick with their principles, resist the urge to give in to corrupt practices and clearly define their brand to represent what they stand for. They added that, although it is not easy to fight corruption in the business environment in the country, some of them have persevered over the years.

The students also highlighted accessibility to healthcare, low level of education especially among women, infrastructure, protocols involved in transactions, corruption, lack of funding, limited number of doctors in rural areas, brain drain, and waste management as some of the challenges they observed in the country. The executives of AmCham encouraged the students to contribute to finding solutions to the challenges identified.

Chamber executives also noted that the presence of mentors to orient investors on the business and cultural environment in Ghana provides an opportunity for students and Ghanaian expatriates to do business in Ghana. They challenged the students to identify opportunities in the gaps they have identified in the country and propose suitable solutions to help bridge them.

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Report : AmCham Breakfast Meeting To Discuss 2019 Economic Outlook

On Thursday, January 10th, 2019, the American Chamber of Commerce, Ghana held its maiden breakfast meeting on the theme “2019 Economic Outlook” at the Movenpick Ambassador Hotel in Accra. The objective of the meeting was to provide its members with critical information about the 2019 Budget Statement of the Government of Ghana as well as how other policy developments will impact the business environment.

Mr. Joe Mensah, President of AmCham Ghana, in his opening remarks, stated that the Chamber organized the meeting in collaboration with PwC to enable members to understand the economic outlook of the country, the new tax rules and regulations, and its implications on the business environment. According to him, it would help the Chamber progress in a positive direction and also strengthen its advocacy role to enable the government to move the economy in the right direction.

2019 Economic Outlook by Abeku Gyan-Quansah, Partner, Tax, PwC

The economy of Ghana is expected to record a real Gross Domestic Product (GDP) growth of 7.6% with the oil sector expected to drive growth, an end-of-year target inflation of 8% and a nominal GDP growth of about 15-16% according to the 2019 budget.

Meanwhile, the government expects to raise an anticipated revenue of GHS 58 billion against its intended expenditure of GHS 73.4 billion which will result in a deficit. About 77% (GHS 45 billion) of the entire government revenue is expected to be generated from taxes which comprises: taxes from income and property, goods and services and international trade. To achieve this revenue target will require more drastic tax and revenue measures and a drive towards compliance by the government given that the Ghanaian economy is largely informal. Also, the new Fiscal Responsibility Act requires that the Minister of Finance does not exceed a budget deficit of 5% except in exceptional circumstances. This implies that businesses will have to pay critical attention to tax regulations and ensure compliance as government will strictly pursue revenue mobilization.

The government has already outlined a number of tax measures under the various tax components. Under income and property tax, the government intends to increase the top marginal band to 30%, convert the mining sector exemption into equity, increase tax free band (tax wage earners that earn above the minimum wage), shift withholding tax in small scale mining from its current point to export, grant tax holidays to businesses under the One District One Factory (1D1F) initiative and effectuate housing tax concessions.

Tax measures on goods and services as well as international trade will include the introduction of tax stamps on textiles, zero-rating Value Added Tax (VAT) on locally manufactured textiles for three years to make the local textile industry more competitive and attractive and granting of tax exemptions to 1D1F enterprises and electric vehicles.

To improve domestic revenue mobilization, the government plans to intensify tax compliance by simplifying tax payment, reforming Ghana Revenue Authority (GRA) to enhance its performance, carrying out distress actions and prosecuting offenders.

Government will expand the tax base of the country by deploying Nation Builders Corps (NABCO) officers to assist GRA officers in revenue mobilization, deepening digitization and encouraging all Ghanaians to register for a Tax Identification Number (TIN) without which one cannot undertake a number of transactions in the country. Businesses must ensure their systems are properly updated to include the TIN of people they deal with.

Members of the Chamber were further educated on the TIN and the annual tax requirements to enable them to be compliant to tax regulations in the country in order to avoid the penalties and reputational damages they could face for defaulting their tax payment which could negatively affect their businesses.

Members also asked questions concerning the possible consequences the economy will face should the minister of finance exceed the 5% deficit, the complexity of expanding the tax base in the country, the need for the TIN and file numbers, relevance of money paid by informal sector businesses to government agencies and the availability of training programmes to educate members on how to file individual returns.

Mr. Joe Mensah during his concluding remarks acknowledged that the presentation was very insightful and thanked PwC for their support for the Chamber over the years. He noted that 2019 will be a great year for the Chamber and urged members of the Chamber to support each other to help drive American companies forward and fight corruption in the country.

Documents 

1. 2018 Tax Facts and Figures document and 
https://www.pwc.com/gh/en/assets/pdf/2018-tax-facts-and-figures-gh.pdf
 
2. 2019 Budget Highlights document 
https://www.pwc.com/gh/en/assets/pdf/2019-budget-highlights.pdf

 

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AmCham Ghana Holds 2018 Thanksgiving Dinner Event

The American Chamber of Commerce, Ghana on Saturday, November 17, 2018, held the 2018 AmCham Ghana Thanksgiving Dinner Event at the Lababi Beach Hotel. This year’s event was under the theme; ‘When diplomacy meets business: Strengthening US-Ghana relations to unlock business opportunities.’
The dinner was attended by leaders of the American and Ghanaian business community, the Deputy Minister of Foreign Affairs, Hon. Charles Owiredu, who represented the sector minister. Also present was the Chargé D’affaires (Acting U.S. Ambassador to Ghana), H.E Christopher J. Lamora, AmCham Ghana President, Joe Mensah, Minister of Trade and Industry, Hon. Alan John Kyerematen, Heads of Mission and other Officials of U.S. Mission to Ghana, and a section of AmCham Ghana Members.

The dinner event is held annually to commemorate the American National Thanksgiving Day, network and raise funds for a charity cause. President of the Chamber, Mr. Joe Mensah during his remarks recounted some activities that took place during the year. He mentioned the hosting of a delegation from the U.S. Senate, the visit by U.S. Secretary of Commerce, Wilbur Ross, and some of the many other events hosted by the Chamber.

“I think we are being recognized as a Chamber to reckon with,” He added whiles thanking Members and all dignitaries present for the support they have rendered the Chamber over the years.

Chargé D’affaires at the U.S. Ghana Embassy, Christopher J. Lamora during his remarks acknowledged the importance of trade and commerce in strengthening bilateral relations between Ghana and the United States of America.

The Deputy Minister of Foreign Affairs and Reginal Integration, Hon. Charles Owiredu ‏whiles delivering a speech on behalf of the sector minister acknowledged the long-standing bilateral relations between Ghana and the United States.

“The economic relations between our two countries have been robust, characterized by several business ventures and exchanges, mostly within the private sector,” the Deputy Minister said.

He also said that the Government is taking all necessary measures to boost the activities of businesses through the creation of an enabling environment with the introduction of appropriate legal and other incentives regimes, which he said are already producing results.

The Chamber used the ceremony to recognize the contributions of some individuals and Members that have helped the chamber in diverse ways in the year 2018.

The Minister for Trade and Industry, Hon. Alan John Kyerematen was adjudged the Most Outstanding Ghanaian Government Official, for the exemplary support and contribution to the development and promotion of Trade and Investment between Ghana and the United States of America. Jayne Howell, Consular Section Chief, was adjudged the Most Outstanding U.S. Government Official for introducing reforms to facilitate and promote business between the Republic of Ghana and the United States of America.

This year’s Best Member Awards went to Newmont Ghana Gold Limited, Kosmos Energy Ghana HC, Consolidated Shipping Agencies Limited (CONSHIP), Enterprise Group Limited, and Rendeavour (Appolonia Devt. Company Limited).  Kimathi and Partners were also presented with an award of appreciation for being the headline sponsor of the AmCham Ghana Thanksgiving Dinner Event for the second consecutive year.

The Assistant Editor of the Graphic Business, Mr. Charles Benoni Okine, was also recognized for his continuous support in championing the course of AmCham Ghana to the benefit of Ghanaian and Unites States’ businesses in the country in the year under review.

Hon. Alan Kyerematen in his acceptance remarks assured Ghanaians and the investor community of the intentions of the government to use this year’s budget statement to strongly revive activities within the economy. He said after using the first two budgets since 2017 to stabilize the economy and place it on the right footing, it was time for a takeoff, adding that “this will happen this year for all to see.”

For a charity cause, the Chamber offered financial support to two charity foundations, an amount of GH¢50,000 was donated to United Way Ghana, a foundation that is providing literacy for young people in inner cities of the country.

Additional GH¢10,000 was also donated to the St. Bakhita Foundations, an orphanage which takes care of vulnerable children, especially females, and provide them with the basic needs to be enrolled in school.

The 2018 AmCham Ghana Thanksgiving Dinner Event was sponsored by Kimathi and Partner (Headline Sponsors), with support from Delta Air Lines, who provided a Business Class Ticket for auction and a photo booth provided by TopDog  Africa.

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Position Paper | Increasing Trends in Local Content Requirements Affecting Drive for Foreign Direct Investment

European Business Organization (EBO) & American Chamber of Commerce (AMCHAM) POSITION ON LOCAL CONTENT LAWS

 

 “We cannot grow the economy on our own and government does not have much to spend. That is why we need to rely on and/or increase foreign direct investment. Local content/participation is good but it’s about how you apply it and at what point you need to do it,” GIPC CEO, Mr. Yofi Grant

Introduction

There has been an increasing trend in the enactment of local content requirements in Ghana that are negatively affecting the government’s drive to improve the ease of doing business, attract foreign direct investment and promote overall economic growth. Local content requirements may be described as regulations, laws and policies that require foreign companies to involve, prioritize or include local companies in their procurement and provision of goods and services.

Increasingly, local content requirements have been found to serve as direct or indirect forms of protectionism limiting or eliminating foreign participation in certain sectors of the economy. Eventually, such requirements curtail free trade affecting competition leading to higher consumer prices. On the other hand, enacting, implementing and monitoring such requirements also comes at a huge cost to regulators and usually affects the organic growth and competitiveness of local firms.

Local Content Activities of EBO and AMCHAM Members

Without legislating local content requirements, foreign businesses in Ghana including Members of EBO and AMCHAM support local employment, employing about 96-98% of Ghanaians in their organizations. Within their supply chains, EBO and AMCHAM Members ensure continued Transfer of Skills and Technology to local companies. These companies are actively involved in education and skills training of Ghanaians creating opportunities for nationals to work in highly skilled roles in their respective sectors.

EBO and AMCHAM Members are responsible corporate citizens who pay their taxes and carrying out statutory obligations thereby contributing to the country’s revenue generation efforts.

The Corporate Social Responsibility (CSR) programs of foreign companies where they undertake activities to support local economic development has been a major contributor to local content development in the country.

Impact of Local Content Policies on Ghana’s International Trade Obligations

Due to globalization, the economies of the World are interwoven in many ways and for that reason we are asking the Government of Ghana to:

  • Study the consequences of every proposed Local Content Law on Ghana’s global trade position especially with, ECOWAS, AU,the European Union, the WTO, China, India, United States of America, Brazil and any other major trade partners and donors.
  • Study the consequences of Local Content laws by consultations of all national and international stakeholders and to audit, calculate and include preliminary impact assessment studies especially studying universal compliance laws, food safety, impacts on our Eco systems, impact on Foreign Direct Investments, international agreements and worldwide regulations, and not to forget protection offered to foreign investors under the GIPC Act 2013.
  • Wrongfully introduced Local Content laws can hurt Ghana’s development, employment, Foreign Direct Investments and Ghana’s future for long periods of time.

Excessive Focus on Ownership

EBO and AMCHAM believe that not allowing Global Companies to have a majority stake in their own companies in Ghana will lead to a steep decline in Foreign Direct Investment (FDI).    Access of foreign investors to Ghana will result in Ghana’s access to the latest technology, working skills and methods into the country and lead to development of Ghana in a competitive world. The policies should focus on value addition to Ghana rather than ownership per se, since local ownership is no guarantee for value creation as noted by many experts. Local content is measured as direct, indirect and induced impact on the economy. Focusing on ownership alone overlooks the value added benefits of economic output, employment and human capital development.

We urge the Government of Ghana to understand that in today’s world and a global economy local ownership is not the key element of running a business. Today many international businesses are either owned or registered in other countries than where they originated from.

Today’s most important issues for any government are:

Where are the jobs being created? Where are the taxes paid? How do we make our country the most competitive country to invest in? How do we protect our small companies against large companies? How do we position ourselves, competition wise in our region?

When we manage to concentrate on these questions we will be assured of a steady growth and development of Ghana.

AMCHAM and EBO with Membership of over 250 companies, have over the years contributed significantly to the economic development and transformation of this Country. Our Member companies and their relationship with Ghana dates back many years. Our members believe that the objectives of the local content regulations are very clear and focused on one key area – the development of Ghanaians to quickly fill highly skilled jobs.   But not only that.  If done properly, a local content regulation would create a win-win for  FDI’s and the people of Ghana by providing skilled labor and services at competitive rates that lower industry operating costs by reducing the reliance on expatriates.

ABOUT EBO-GHANA:

EBO-Ghana is part of the global European Business Organization EBOWWN, which is present on all continents in non-European key import and export markets of European enterprises.

Local EBO’s are highly integrated and localized European organizations within the markets in which they operate and are often administrated by nationals of the host country or by Europeans who have extensive knowledge through long residence and business involvement in the host country. Promotes and advocates free trade in general and between the European Union and third markets.

Source market information on its market for European business and local and EU market information for its local entrepreneurs who do or intent to do business with Europe. Advices and informs all stakeholders, being businesses and governmental institutions in the host countries in which they are present. Advocate and promote best business practices and standards in third markets.

ABOUT AMCHAM GHANA

The American Chamber of Commerce (AMCHAM) Ghana is a representative arm of the US businesses and subsidiaries in the country including Ghanaian Businesses with Strong US ties. It is affiliated with the United States Chamber of Commerce, which is the World’s largest business organization representing over 3 million members and 177 affiliates all over the world. AMCHAM Ghana is also an active member of Africa Business Center which is the continent’s arm of the US Chamber of Commerce.

The core mandate of AMCHAM is to advocate for U.S businesses and by extension the promotion of the FDI’s into Ghana; creating enabling environment for businesses in which Ghanaian and US businesses can thrive, promoting the spirit of free enterprise, creating opportunity and prosperity for our two countries.

Simon Madjie                                                                                Nico C.M van Staalduinen    

Executive Secretary, AMCHAM                                                     Executive Director, EBO -Ghana

Plot # C609/3, 5th Crescent Street                                               The Total House

Asylum Down, Accra                                                                        Liberia Road, Accra.

amchamghana.com                                                                          euroghana.eu