GNCCI receives delegation from World Bank Group
A team from
the Macro, Trade and Investment Unit of the World Bank Group visited the Chamber as part of their mission’s objective of presenting and discussing key policy and institutional recommendations aimed at improving Ghana’s ability to attract and retain private investment.
The meeting focused on discussing the level of services that investors are getting from the Ghana Investment Promotion Council (GIPC) and also to identify the main entry barriers to foreign direct investment (FDI). In his response, Mr. Mark Badu-Aboagye, CEO of the GNCCI, noted that the Chamber has a good relationship with the GIPC where each plays a complementary role in attracting and maintaining FDI into the country through trade and investment missions as well as trade fairs and other business meeting. Some of the challenges identified by the CEO included: high minimum capital requirement for investors; acquisition of licenses and other business registration documents and incentives to investors, which is sometimes abused by foreign investors.
The CEO also briefed the World Bank Group team of the three projects that the Chamber was embarking on to attract and retain investment into key industries and sectors in the country. The Agricultural Value Chain Project focuses on gathering bottom-up data to address data overlays hindering business growth, provide business strategic models to support Ghana’s agricultural industrialisation drive as well as attract FDIs into the country. The GNCCI Industry Profiling Project positions the Chamber to play a trail blazing role in profiling Ghana’s industries to support policies, strategies and investment decision by capturing company financials, industry structure, market intelligence, industry risk profiles, strategic themes, and corporate leadership. The third project, GNCCI Trade Indices and Data Derivatives places the Chamber as the first institution to model standard trade data into real time information and data derivatives on trade flows determinants and the efficiency of those flows as well as other quick indices that capture the diversification potential of non-traditional commodities.
The World Bank Group team welcomed the Chamber’s projects and expressed their interest towards a possible collaboration. Members at the meeting were Barbara Kotschwar (Senior Private Sector Specialist), Kobina Daniel (Senior Private Sector Specialist), Hania Krofol (Private Sector Specialist), Lina Sawaqed (Consultant), Jim Friedlander (Consultant), ZHi Ken Gan (Consultant), Neustadt Amartefio (Consultant), Mr. Mark Badu-Aboagye (CEO, GNCCI), Mr. Julius Bradford Lamptey (Head, Research & Advocacy, GNCCI), and Mr. Abudu Asoman (Researcher, GNCCI).