By Rukayatu Musah
The Ghana Investment Promotion Centre (GIPC) has collaborated with the Japan External Trade Organisation (JETRO), to organise a Business Forum, focused on Ghana’s investment and regulatory landscape.
The event provided an opportunity to orient the Japanese Business Community on the
investment trends and opportunities within multiple sectors in Ghana, to guide their
expansion and investment decisions.
The Forum also provided an avenue for existing Japanese investors who are operating in Ghana to know about the role GIPC can play to facilitate their business operations in the country and learn more about its unique aftercare services, purposed to address post-etablishment issues.
Speaking at the event, Chief Executive of GIPC, Yofi Grant, said Ghana’s engagement with the Japanese business community over the years has been a dynamic one, with Japan being the 12th highest FDI contributor to Ghana within the period of 2017 to 2022.
He mentioned that, though the current economic landscape faces some challenges as countries emerge from the global political and health crisis, there are still several opportunities in Ghana and Africa at large that investors can leverage.
He added that Ghana recognises the quality of Japanese business operations and is very keen on exploring and maintaining mutually beneficial partnerships with the Japanese business community.
The Japanese Ambassador to Ghana, Hisanobu Mochizuki, noted that the past decade has seen increased Japanese investments in Ghana, with the potential for more. He reassured the Japanese investors of GIPC’s commitment to help them address the challenges.
The Director General of JETRO Accra Office, Mr. Hiroaki Sekine, cited factors such as complicated administration procedures, unstable exchange rates, and security as some causatives of Japan’s relatively low investment in Africa.
He disclosed that Japanese investment in 2022 added up to 175 billion USD, consisting of 36% to US, 24% to EU, 24% to Asia, 8% to Central & South America, 6.5% to Oceania, and 1% to Africa. He, however, expressed optimism for higher investment flows to Africa and Ghana, in particular from Japan, and implored GIPC to support tackling investor challenges so as to make the country the best investment destination in the region.