Ghana’s President, Nana Addo Dankwa Akufo-Addo has said, he will soon inaugurate a five-member governing board of the Ghana International Trade Commission (GITC) that would be taxed to introduce a strict measures to protect the investments of the Expatriate business community.
The President, assured that, the various bad trade practices such as the dumping of cheap and poor quality imported goods in Ghana which eventually affects the businesses of expatriates in the country had to be stopped.
Speaking at the maiden edition of the Expatriate Business Awards ceremony, a collaboration between the Ministry of Trade and Industry and the Millennium Excellence Foundation (MEF), held at the Movenpick Ambassador Hotel in Accra, he strongly stressed that, these bad practices affecting businesses of expats in Ghana, will soon be a thing of the past.
He also disclosed that, government would issue a remainder of the energy bond by the end of the first quarter of 2018, to strengthen the financial sector and as well as develop the industrial sector.
Pointing out impacts of the power crisis on industry operations over the last three to four years, the Nana Addo indicated measures put in place to tackle the situation. He was optimistic of raising over Gh¢5b remainder, by the end of March.
“This has strengthened the liquidity of the banks and freed the energy sector for fresh investors to reduce the cost of energy. The Gh¢ 4.7b has been successfully issued to this end with the remainder of Gh¢ 5.3b expected to be settled by the end of the first quarter of 2018,” President Nana Addo said.
On his part, the Minister of Trade and Industry, Mr. Alan John K. Kyeremanten emphasised that, the Akufo-Addo’s administration will continue to take up measures that would contribute to the growth of the Private Sector including businesses of the expatriate community.
According to Mr. Kyeremanten, the President purposely directed the Institutionalization of the award scheme, to acknowledge the great contributions of Expatriates in the country’s economic development sector.
The awards were categorized into twenty three, where 227 companies were Shortlisted as nominees. And sectors included in the Categories were Agriculture & Agri-Business, Aviation, Oil & Gas, Mining, Building & Construction, Banking & Finance, Information, Communication & Technology, Automotive, Retail, Exports and many others.
There were many awardees, Zenith Bank and Standard Chartered Bank emerged winners for the best expatriate businesses in banking and finance category whereas Airtel-Tigo got the award for ICT, with Nexans Kabelmetal grabbing the best expatriate business in the electricals and electronics category.
Notable among the shortlisted nominees for the awards were; Zenith Bank, Nestle Ghana, Interplast, MTN, Japan Motors, Maxmart, Printex, Whittaker, Rana Motors, Tullow, KLM, M&G Pharmaceuticals, Goldfields, Kumesh Ghana, Unilever, Barbisotti, Standard Chartered and to name a few.
In attendance were, Ex-President Jerry John Rawlings and the Former 1st Lady, Nana Agyemang Kunadu, CEO of GIPC, Yoofi Grant, Deputy Minister of Trade and Industry, Kingsley Ahomka Lindsey, Captains of Industries, CSO’s, other stakeholders and many others.