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News from Wednesday, July 24, 2019
Source: dailyguidenetwork.com
2019-07-24
Ghana's Vice President Mahamudu Bawumia
Mahamudu Bawumia, Vice President of Ghana, told a group of Canadian investors that Ghana is the best destination for investment in Africa, due in part to its unique characteristics of political stability and security.
He was speaking in Vancouver during his visit to this North American country as head of a trade delegation to the Canada-Ghana Economic Summit organized by Canada-Africa Strategic Investment Inc. at Vancouver.
He swayed what he described as Ghana's benign legal and regulatory environment, a broad domestic market and macroeconomic stability that he said distinguished the country from the rest of the continent.
Recent economic developments in Ghana, he said, offer tremendous opportunities for various types of investment and are good reasons why Canadian investors should consider setting up in the country. .
Regarding the regulatory environment in Ghana, he said: "Ghana, ranked 48th (out of 126 countries) on the state of the law rule of the World Justice Project 2019, provides a safe haven allowing investments to be protected in a fair and commercial manner. judicial system."
He added that Ghana was ranked ahead of South Africa in the 2019 A.T Kearney GSLI (Global Services Location Index), a measure of the attractiveness of a site for offshore services.
He went on to say that the country has also maintained a consistent position as the second highest ranked country (out of 20) in the Absa / Barclays Africa financial markets index for two consecutive years. He added that Ghana also ranks 4th among African countries on Ernst & Young's 2017 attractiveness survey of Africa, ahead of Côte d'Ivoire, Mauritius, Rwanda and Nigeria.
Vice President Bawumia added that "the successful implementation of the AfCTFA will result in combined consumer and business spending of $ 6.7 trillion in 2030, boost industrial and manufacturing development in Africa and increase trade 15 to 25 per cent, or $ 50 to $ 70 billion. by 2040, compared to an Africa without AfCFTA, which will all be coordinated and led by institutions, staff and resources based in Ghana. "
Edward Akuffo, President and CEO of Canada-Africa Strategic Investment Group Inc., Councilor Sara Kirby-Yung, Deputy Mayor of the City of Vancouver, and Ayikoi Otoo, Ghana High Commissioner to Ghana.
b /> Simon Fraser University
At his university, at Simon Fraser University, he shared his thoughts on how the president and his government are leveraging technology to provide services to the people of Ghana.
If developing economies are to remain competitive and count in the fourth industrial revolution, then they must embrace the digital revolution, he said.
While outlining the progress the government has made so far in this direction, he announced that Ghana would this year be partnering with Singapore and China to put in place a universal QR code system that would allow for payments even the smallest and the smallest. ways to get paid. "With the QR code system in Checks, point-of-sale devices will eventually be deleted over time," he added.
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