Ghana welcomes independent power producers
The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr George Aboagye, says the country is open to receive independent power producers to help increase its power generation capacity to meet the growing internal demand and for export.
He said the country hoped to increase its production capacity from the present 2,000 megawatts to 5,000 megawatts within the short to medium term to enable it to achieve its aim of becoming a net-exporter of power to the sub-region and to meet the growing demand by industries.
Mr Aboagye said this when he addressed potential investors at the Ghana Investment Forum, organised on the sidelines of the ongoing Lagos International Trade fair in which more than 72 Ghanaian small to medium scale enterprises are participating.
“With our oil and the gas finds, we are set to meet that target but we will require investors, particularly independent power producers from Nigeria and elsewhere to either come in as private investors or to partner with the state in that endeavour,” he said.
Mr Aboagye said the country had devised a policy not to flare the gas from the oil fields and noted that the move left Ghana with a lot of gas which will be used to supply power to the many industries already set up and the new ones yet to come in.
He said for the country to further accelerate its development agenda, there was the need for adequate power supply and noted that the government was poised to receive investors, both local and foreign, to make that dream a reality.
Mr Abiagye said the return on investments in Ghana was one of the highest in the world and urged Nigerians to explore that opportunity.
“We know the financial muscle of many Nigerians and we know that you can do it and make the money thereof,” he said.
Mr Aboagye mentioned the preparedness of the GIPC to assist any Nigerian investor who would come in to invest in the country, particularly in areas which had not been restricted to foreign investors.
In spite of the call for investors into the country, the area of trading has been reserved for Ghanaians alone although pockets of foreigners are violating that rule.
He acknowledged the role played by Nigerian banks in transforming the banking sector in the country.
“Those about to come must use the experiences of their counterparts in the financial services sector to inform their decision to invest in the economy,” he advised.
Mr Aboagye also mentioned other investment avenues in the country as agriculture and agribusinesses; telecommunications; infrastructure, financial services and tourism.
Ghana’s Ambassador to Nigeria, Alhaji Baba Kamara, urged Nigerians to ensure that they abide by the rules country when they decide to invest in Ghana.
He acknowledged the bond of friendship and brotherliness between Ghana and Nigeria and assured potential Nigerian investors of the preparedness of the government to receive them in the economy.
The Chief Executive of the Ghana Export Promotion Authority (GEPA), Mr Kwadwo Owusu Agyemang, called for a permanent stand for Ghanaians at the Lagos International Trade Fair site to enable easy identification of Ghanaians who participate in such fairs.
“The number of Ghanaian companies that have come into this fair has increased, an indication of the growing interest of Ghanaians in the Nigerian market and we need that stand to bring in more,” he said.
The President of the Ghana Chamber of Commerce and Industry (GCCI) asked Nigerian investors in Ghana to make use of the chamber to leverage the opportunities thereof.
“At the chamber, linking businesses is our business and we will help you forge the right linkages to make the needed returns on your investment,” he said
Source: Daily Graphic