Movement for Change Leader Proposes Strategic Initiatives to Reinforce Ghana as Africa’s Premier Investment Destination

Independent Presidential Candidate and leader of the Movement for Change, Alan Kyerematen, has underscored the urgent need for foreign direct investment (FDI) in Ghana, warning that the country is at a pivotal moment where decisive action is necessary to maintain its competitiveness as an investment destination in Africa.

Speaking at the Distinguished Speaker Series organized by the Consortium of Trade Associations on September 18, 2024, Mr Kyerematen expressed concern that Ghana, despite its historical appeal to investors, is gradually losing its competitive investment edge.

“Regrettably, while Ghana has long been one of Africa’s most attractive investment destinations, we are increasingly becoming less competitive,” he stated, emphasizing the importance of reassessing the factors contributing to this decline.

Mr Kyerematen outlined his vision for revitalizing Ghana’s investment climate through his proposed Great Transformational Plan (GTP), should he win the presidency in 2025.

The GTP aims to restore investor confidence by fostering a conducive environment for FDI, bolstered by strong political will, the establishment of an enterprise economy, and strategic investments in productive sectors of the Ghanaian economy.

“The GTP will serve as a foundation for restoring confidence among investors, ensuring they do not abandon Ghana,” he asserted, acknowledging that many foreign investors are reconsidering their operations in the country.

According to Mr Kyeremanteng, the GTP is designed to enhance the attractiveness of FDI while promoting joint ventures and collaborations with local enterprises.

The Distinguished Speaker Series initiative marks the beginning of a comprehensive dialogue involving various stakeholders and influential policymakers, aimed at repositioning Ghana as the premier destination for FDI in Africa.

Since 1990, foreign investors have contributed approximately $47.2 billion to the Ghanaian economy, establishing Ghana as a significant recipient of FDI in the subregion.

The Consortium of Trade Associations, comprising various international chambers of commerce, aims to drive economic growth and development in Ghana through strategic partnerships and enhanced dialogue between the public and private sectors.

This approach seeks to reposition Ghana as the premier destination for FDI in Africa and stimulate sustainable economic progress.

Source:norvanreports.com