Africa: The huge markets prospects for local businesses


Goaso, (Ahafo Region) Nov.17, 2023

The Ghana Export Promotion Authority (GEPA) says huge markets abounds in the African Sub-Regions, therefore encouraged businesses and entrepreneurs to focus on trading within the Continent.

The authority explained there are higher demands for goods and services in Africa, therefore businesses should not only focus on European markets, Mr.

Frances Fosu-Kwakye, in charge of the Kumasi zone of GEPA said.

He was speaking during a Regional Sensitization Tour held in Goaso, the Ahafo Regional capital, organized by the Ghana Investment Promotion Centre (GIPC). 

On the theme: “Grow In Ghana, Grow With Ghana”, the event on Friday educated and sensitized participants about activities, functions and mandates of the GIPC as well as ascertain and discussed commercial business opportunities in the area.

Mr. Fosu-Kwakye urged manufacturers and processors to improve the quality of their products to meet international standards and demands. 

Ensure your products are free from issues of sub-standard to attract both local and foreign investors, Mr. Fosu-Kwakye added.

The businesses progress sensitization event was attended by Chiefs and queens, entrepreneurs, processors, farmers and representatives from the Municipal Assemblies.

The GIPC forum with support from the World Bank was in partnership with the Ghana Enterprises Agency, Ghana Export Promotion Authority and the Ghana Exim Bank. 

As part of activities of the sensitization tour, the GIPC explored the regions in Ghana to identified projects worthy of both local and foreign investments.

Dr. George Asafo-Agyei, the Director of Monitoring and Evaluation at the GIPC stated Ghanaian businesses ought to be protected and grow to capitalize on the benefits of the AfCFTA.

It was in that regard the GIPC was embarking on the sensitization tour as critical exercise to help the local businesses, as well as understand the exact issues affecting growth of the businesses and the way forward to ensure investors stay and impact the local economy.

In a speech read On his behalf, Mr. George Boakye, the Ahafo Regional Minister commended the GIPC and hoped the exercise would help unearth the untapped numerous commercial business potentials in the area.

He said the Ahafo region is blessed with abundant commercial business opportunities in areas of agriculture, tourism, agro processing, hospitality and mining, therefore called for more investors.

Mr. Boakye said the forum would further enlighten and build capacity of participants to capitalize on the opportunities of the Africa Continental Free Trade Area (AfCFTA), through which local businesses could leverage it potentials for growth and boost the local economy.

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