Komptech to invest €30 million in Jospong rice project

Vice-President Mahamudu Bawumia has urged investors from Austria to take advantage of Ghana’s economic and political stability to invest in the country.

Speaking at a business-to-business session in Accra with a delegation led by the Austrian federal chancellor, Karl Nehammer, under the auspices of the Ministry of Foreign Affairs, the vice-president restated Ghana’s commitment to strategic partnership with the private sector as well as enhanced efforts to drive industrialisation and productive transformation to achieve sustainable economic growth.

He said Ghana is open for business and is eager to forge mutual beneficial rewarding relationships with Austria.

“As Ghana and Austria seem to forge stronger bonds, we have to sustain such relationship through improved technical and science-based education and technology, and also address unfair trade relations, among others,” he told guests at the Ghana-Austria Business Forum 2023.

He noted that Chancellor Nehammer’s participation at this business forum also demonstrates the commitment of the Austrian government to enhance collaboration between the private and public sectors in both countries for mutual benefit.

He noted that Ghana has a stable political environment, strong democratic culture, safe and happy people underpinned by freedom of expression.

“In the volatile West Africa, Ghana is ranked as the most peaceful country and the second most peaceful country in Africa,” he said.

He also noted Ghana has educated and competitive and trainable labour force which should motivate the Austrian investors to consider investing in Ghana.

He observed the timing for the meeting was auspicious as the devastated effects of COVID 19, climate change and ongoing energy and food crisis has demonstrated the need for increased global collaboration.

“These global developments have amplified protection and distortions of supply chains with ramifications for economies in the continent including Ghana,” Dr Bawumia said.

Dr Bawumia however noted that Ghana has initiated steps to bounce back stronger.

“Ghana had its fair share of these burdens and is making concrete efforts to bounce back stronger,” he stressed.

As we pull together to revive the global economy, and secure our future against economic, environmental, health security treats the contribution of Africa to these efforts cannot be understated.

Dr Bawumia expressed his pleasure to see the union of Jospong Group and Komptech, the Austria-based leading technology firm and expert partner for mechanical and biological waste recycling. The two companies signed a €30 million agreement to support rice production in Ghana.

Under the agreement, Komptech will support the Jospong Group rice project with machinery and technology.

“We see prospects of reassuring and making the case for some your companies to operate from Ghana and export,” Dr Bawumia said as he witnessed the signing ceremony between Jospong and Komptech.

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