Ghana-India
Ghana invites Indian industrialists to invest and create employment for both sides
Kolkata/IBNS: Ranking third in ease of doing business in Western Africa, Ghana is inviting Indian industrialists to contribute in areas of steel, iron ore, and agriculture.
High Commissioner of Ghana to India Kwaku Asomah-Cheremeh said, "We will facilitate and help Indian industrialists in connecting with the right set of local partners."
Manganese ore is currently exported to China as they have a refinery setup for it, but if a refinery unit is established by Indian businessmen in Ghana that could be a major opportunity for them, as they could look at exporting Manganese ore, he said.
In the backdrop of an interactive session held between Young Indian, youth arm of Confederation of Indian Industry (CII), and the dignitaries representing Ghana, Minister- Counsellor/ Political & Economic of Ghana, Ernest Nana Adjei, said: "Any investor before spending looks for political stability and foreseeable growth of their wealth, this is present in Ghana."
India is the second largest foreign investor in terms of projects and value of investment in Ghana. It contributes in diversified segments such as iron ore, steel, and agriculture.
With the agriculture industry in boom, the opportunities for agro machinery, cattle rearing and poultry feeds are possible investment opportunities.
The agriculture industry of the Western African nation registered USD 13.2 bln in 2020.
Kwaku Asomah-Cheremeh said, "We need people to bring big machinery and not only tractors to our nations."
Indian companies like ESCORT have already started working in the same direction, while also establishing training institutes to advance farming activities and ensure food certainty in Ghana.
Ernest Nana Adjei estimated the rate of India's foreign investment to grow at 9.5 percent. Currently, the Indian investment in Ghana stands approximately around USD 500 mln.
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