Ghana has targeted the private sector for a bigger role in its drive to overhaul the country’s infrastructure and improve its services, according to the country’s Minister of Foreign Affairs Hannah Tetteh.
Ms Tetteh told the global publishing, research and consultancy firm Oxford Business Group (OBG) that public, private partnerships (PPP) with both Ghanaian and foreign partners could pave the way for the country to expand its energy infrastructure, which was crucial for facilitating growth in manufacturing and the growth and development of the economy as a whole.
“If we want to do heavy manufacturing and more value-addition to our raw metals for example tapping into our iron-ore deposits, we need to be able to improve energy generation capacity to make any of those businesses viable,” she said.
The Foreign Affairs Minister said Ghana was keen to play a part in promoting economic growth and development across Africa, pointing out that the introduction of initiatives such as the touted continental free-trade area would benefit both the region and individual countries.
“It is important for us to create great opportunity to do business with one another, to invest in each other’s economies, to do away with some of the present bureaucracy and regulations, and only keep and streamline that which is necessary so it becomes easier for people who want to do business with those regulations that are most relevant to facilitate and enhance the business environment in Africa to do business,” she commented.
She added that while the ECOWAS Trade Liberalization Scheme (ETLS) had provided the framework for encouraging business development on a regional level, Ghana was now keen to see evidence of follow through.
“What we really need to do is to give effect to the legislation that we already have and coordinate the cross-border regulation, enforcement and other activities in a way that facilitates trade rather than hinder it,” she said.
Ms Tetteh was talking to OBG as part of the compilation of research for The Report: Ghana 2013, the Group’s third guide on the country’s economic activity and investment opportunities. The forthcoming publication will be available in print form or online.
Source: Oxford Business Group
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