Former President John Agyekum Kufuor has called on American businesses and investors to explore opportunities in Ghana, emphasizing the country’s potential for fostering mutually beneficial economic partnerships. Speaking at the 35th Anniversary Thanksgiving Dinner and Awards Night of the American Chamber of Commerce Ghana, he highlighted Ghana’s strategic location, abundant natural resources, and the potential to serve as a hub for global trade and investment.
Kufuor stressed that Ghana’s position on the globe, sitting at the intersection of the equator and the Greenwich meridian, provides a unique geographical advantage. He noted that this strategic location allows for efficient connectivity to major international markets, enhancing its appeal as an investment destination. “The time has come when the US, if it wants to champion global advancement, should look at places like Ghana. It is a true hub, naturally. We sit right on the intersection of the equator and the meridian,” Kufuor remarked, urging investors to recognize the opportunities that the country offers.
Ghana’s geographic proximity to major markets was another point of emphasis. According to Kufuor, the country is within six hours of travel to New York and seven hours to the Middle East, making it a central hub for global commerce. This connectivity, coupled with the country’s resources and human capital, makes Ghana a prime location for economic partnerships.
In addition to its geographical advantages, Ghana is endowed with abundant natural resources, including gold, cocoa, oil, and gas, which have traditionally served as key exports. However, Kufuor underscored the importance of shifting from raw material exports to value-added production. He urged Ghanaian businesses to focus on adding value to their exports to enhance global competitiveness and create more economic opportunities domestically.
“The time has come for Ghanaian businesses to prioritize value addition,” Kufuor said. He noted that by processing raw materials locally and producing finished goods, the country can move up the global value chain. This approach not only increases export earnings but also fosters industrial growth, job creation, and innovation.
Kufuor also appealed to American investors to consider partnerships that would transform Ghana into a production hub. “In terms of travelling, within six hours you are in New York, seven hours you are in the Middle East… and we have the human and the natural resources. So, please, I am appealing to all of you to make Ghana the hub in partnership with you guys to produce,” he stated.
This call to action comes as Ghana actively seeks to attract foreign direct investment to boost its economy. The government has been implementing policies aimed at improving the ease of doing business, enhancing infrastructure, and providing incentives to investors. Kufuor’s remarks align with the country’s broader economic agenda of industrialization and economic diversification.
Ghana’s political stability and commitment to democracy have also been key factors in attracting foreign investors. The country has a long-standing reputation as one of Africa’s most stable democracies, offering a secure environment for business operations. This stability, combined with its rapidly growing middle class, provides a promising market for a wide range of goods and services.
Kufuor’s vision for Ghana is one where partnerships with the United States lead to transformative economic growth. By leveraging American expertise, technology, and capital, Ghana can achieve sustainable development while contributing to global progress. He urged both Ghanaian and American businesses to explore areas such as manufacturing, agriculture, renewable energy, and technology as potential sectors for collaboration.
The former president’s remarks reflect a larger global trend where African countries are increasingly seeking to position themselves as key players in international trade and investment. For Ghana, attracting US investors is a crucial step toward achieving its goals of industrialization, job creation, and economic self-sufficiency.
Kufuor’s appeal also serves as a reminder of the long-standing ties between Ghana and the United States. These ties, rooted in shared values and mutual interests, provide a strong foundation for deepening economic cooperation. As Ghana continues to position itself as a gateway to Africa, fostering such partnerships will be essential for unlocking its full potential.
In conclusion, Kufuor’s call to action emphasizes the need for strategic collaboration between Ghana and the United States. With its unique geographic location, abundant resources, and commitment to economic growth, Ghana stands out as a promising destination for global investors.
By working together, Ghana and the United States can build a partnership that not only benefits both nations but also contributes to broader global development.
