AfCFTA a golden opportunity for Ghanaian businesses to expand their reach, says Yofi Grant

In a compelling address during the 20th edition of the Ghana Club 100 Awards, Yofi Grant, CEO of the Ghana Investment Promotion Centre (GIPC), emphasized the transformative potential of the African Continental Free Trade Area (AfCFTA) pact for Ghanaian enterprises.

Mr Grant underscored the GIPC’s commitment to supporting the private sector in leveraging AfCFTA opportunities, aligning with governmental initiatives to enhance competitiveness across the African continent.

Mr Grant asserted that the GIPC, in collaboration with the government, aims to empower the private sector to capitalize on the vast opportunities offered by the AfCFTA.

“The African Continental Free Trade Area (AfCFTA) pact presents a golden opportunity for Ghanaian businesses to expand their reach. For us at GIPC, our work is to complement government efforts by instituting various measures to bolster Ghana’s private sector’s competitiveness on the African Continent,” he remarked.

Recognizing the private sector as a key driver of growth and a vital creator of employment, he emphasized the private sector’s pivotal role in advancing national development.

Already, 14 Ghanaian companies under the Guided Trade Initiative developed by the African Continental Free Trade Area (AfCFTA) Secretariat, are actively engaged in trade with other African countries.

Notable Ghanaian companies engaged in trade under the AfCFTA are Kasapreko and Ghanndour Cosmetics.

Also speaking at the same event, was GIPC Board Chairman, Alex Dadey, who acknowledged Ghana’s evolving investment landscape and the necessity of reviewing the GIPC Act.

While reiterating Ghana’s attractiveness as an investment destination, Mr Dadey emphasized the importance of addressing concerns related to the ease of doing business in the country.

“Though being a cornerstone of Ghana’s investment framework, recent changes and trends have made it pertinent to review the GIPC Act.”

“While Ghana remains an attractive investment destination, it is still important that we address some concerns regarding the ease of doing business in the country,” he quipped.

As Ghana positions itself to fully harness the potential of the AfCFTA, the collaborative efforts of the GIPC and the government signal a proactive approach.

Additionally, the call for a review of the GIPC Act reflects ongoing commitment by the GIPC to create a more favorable investment climate and ensure that Ghana continues to be an attractive destination for local and foreign investors.