Vice President Dr. Mahamudu Bawumia has emphasized that Ghana remains the most favorable investment destination in the West African Sub-region despite the economic difficulties.
His comments follow the $3 billion in assistance the International Monetary Fund (IMF) provided, which the Ghanaian president hopes would help stabilize the country’s economy.
Dr. Bawumia gave assurance that investors that pick Ghana as their investment destination won’t be sorry they did.
He discussed Ghana’s advantages as a centre for investments when speaking to attendees at the Ghana Investment Summit in the UK.
He noted the country’s law-abiding citizens, educated and literate people, and vibrant young population as important elements that make Ghana an alluring location for investment.
He declared, “We have a law-abiding, politically stable, educated, and vibrant young population that is highly read. It is the top location for conducting business over the past ten years and one of West Africa’s shining spots for investments.
John Mahama, the NDC’s candidate for president in the general elections of 2024, has stated that Ghana is not only one of the greatest countries in West Africa for conducting business.
He thinks that because of the economic uncertainty experienced under the current administration, foreign investors in West Africa do not favor Ghana as a regional base.
He said that the bank collapses were the result of personal grudges on the part of the New Patriotic Party (NPP) administration headed by President Nana Addo Dankwa Akufo-Addo.
As some factors impeding business growth, he listed rising electricity and water rates, high inflation, and the depreciation of the local currency. He also noted that multinational corporations were leaving the nation, and those that had remained had relocated their headquarters to neighboring nations.
Speaking as the Special Guest of Honor at the 7th Ghana CEOs conference, Mahama claimed that Ghana had lost its reputation as the finest place to conduct business in West Africa because of the government’s agreement with the Fund to hike power and water tariffs quarterly.