Ghana woos Danish and Swedish investors to tap into the African market

The government of Ghana is making significant efforts to attract foreign investors and open up the economy to the world, emphasizing the country’s strategic location as a launchpad to the vast African market.

The call for investors to consider Ghana as a gateway to Africa came during a business seminar held in Accra, where key government officials and delegates from Denmark and Sweden converged to explore opportunities for economic collaboration.

Speaking at the business seminar, Minister for Information, Kojo Oppong Nkrumah, underlined Ghana’s strategic location as a gateway to the vast African market, emphasizing the potential for international businesses to extend their reach across the continent.

Oppong Nkrumah stated, “Our focus in Ghana today is to open up the Ghanaian economy to the world so that we can build partnerships that can serve Africa and the world.” He continued, “Today, we are boasting of the continental free trade agreement secretariat, and working from a place like Ghana is only a launchpad to be able to reach the over a billion people in the African market.”

Highlighting the alignment of interests between the Danish/Swedish business delegation and Ghana, Oppong Nkrumah expressed his enthusiasm for the potential collaboration. “I was reading this morning the profiles of some of the businesses that are here, and I was excited to note that they coincide pretty well with our areas.”

In his address to the delegation, the minister highlighted specific sectors that held significant potential for cooperation, including water and sanitation services, digital health services, and private equity and investments.

He noted that these areas aligned with Ghana’s objectives of providing access to clean water and leveraging the country’s burgeoning youth population.

Recognising the challenges that foreign businesses might face, he extended a helping hand, stating, “We are here to assist you in settling and onboarding into the Ghanaian economy through the Ghana Investment Promotion Center (GIPC). Your learning curve will be shorter, and dealing with regulators will be faster, allowing you to be on your way more quickly.”

Furthermore, Oppong Nkrumah emphasized the government’s commitment to resolving any challenges faced by the Danish and Swedish businesses. “Our doors are open to help you resolve them, so it’s easier for you to do business in Ghana. Your success is our success, and our success is your success,” he said.

Sylvia Naa Adaa Annor, ambassador of Ghana to Denmark, addressed the delegation and emphasized the importance of their visit to Ghana. She referred to the Danish Foreign Minister’s announcement earlier in the year, which made Africa a focus for Denmark in 2023.

Annor’s enthusiasm was evident as she recounted how this announcement inspired the Embassy of Ghana in Copenhagen to strengthen economic bilateral relations between the two nations, paving the way for the business delegation’s visit.

She recognised the vital sectors of health, clean water technology, and agro-processing as areas ripe for investment and development. She stressed that these areas coincided with the focus of the Danish and Swedish businesses in the delegation.

In her speech, Annor highlighted the presence of numerous Danish companies in Ghana, such as Maersk, Alumichem, Arla Foods, Grundfos, FOSS Analytics, Cimbria, and FLSmidth, operating across various sectors in the country. She also noted the Sweden-Ghana Cancer Medical Center, which was established with the support of the Swedish Government, serving not only Ghana but the entire West African sub-region.

Annor encouraged the Danish and Swedish businesses to establish local partnerships and engage with relevant government agencies and local businesses in Ghana. She underscored the importance of the B2B meetings scheduled for later in the day as a platform for interaction and partnership development.

With Ghana being the host of the African Continental Free Trade Area, Annor pointed out that the opportunity for Danish and Swedish businesses to leverage the competitive business climate and serve the wider African market was unparalleled. She expressed optimism that the companies in the delegation would find their place within the Ghanaian market.

The business seminar and the warm reception by Ghanaian authorities demonstrate the country’s commitment to attracting foreign investment and fostering economic growth. As Ghana positions itself as a launchpad to access the African market and achieve global success, this visit by Danish and Swedish businesses marks a significant step in realizing those ambitions.