"More local investors show interest in the economy" – Yofi Grant

Company News of Monday, February 11, 2019

Source: thebftonline.com

2019-02-11

Despite the challenges of capital formation, more and more local investors are seizing opportunities for investment in the economy, said the Ghana Investment Promotion Center (GIPC).

The GIPC, the agency responsible for making the country salable, recently said it has seen an increase in the number of Ghanaians seeking opportunities.

He added that Aboriginal investors, like foreign investors, enjoy the same benefits or, in some cases, more, contrary to the view of many who claim that the center only supports foreign companies.

"What is happening recently is that we are recording a lot of aboriginal investors coming to visit us," GIPC CEO Yofi Grant told B & FT in Accra.

Although Mr. Grant acknowledged that more needs to be done to support Aboriginal investors, he told them that there are many opportunities available to them.

More importantly, he said it was imperative to make it easier for local businesses and that GIPC's goal was to attract more local investors.

"Although I concede that there is not a lot of trained capital in the country, there are still great opportunities, especially in the One District, One Plant and Planting initiatives to create jobs and jobs. , as well as in tourism and ICT, "he said.

"What we want is to create a favorable environment where foreign direct investment and local direct investment play a key role in the development of our country."

On the incentives offered to Ghanaians, he said: "The incentives we have are color-blind; These are commercial incentives. So, whether you invest in a sector like agriculture, the incentives apply to you.

The problem is that, as we register foreign investors, everyone thinks we are only there for foreign investors. This is not true. If you wish to benefit from the incentives offered by GIPC, you must register your company with GIPC. "

According to Mr. Grant, the GIPC hopes to save up to $ 10 billion in investments in 2019, although it did not achieve a similar goal last year.

In 2017, the center recorded investments of 4.91 billion USD on a target of 5 billion USD. Although Mr. Grant stated that the 2018 figures were not immediately available, he added that they were encouraging.

"We are still setting ourselves a target of 10 billion US dollars. The most important thing to recognize is that investing thrives in building relationships. So, even when you show investors the opportunities, you must constantly follow them to lead the negotiations and make sure they provide the necessary funds for this investment. "Grant noted.