By: Hannah Dadzie
The third edition of the Egypt-Ghana Business Bridge Forum has been held in Accra, with a call for stronger partnerships between the two countries to boost trade, industrial growth, and private sector collaboration. Egypt’s Ambassador to Ghana, Aldesouky Mahmoud Youseef, described the forum as a significant milestone in bilateral cooperation. He said trade between Ghana and Egypt has grown from 70 million dollars in 2020 to over 106 million dollars in 2023, with projections to exceed 400 million dollars this year. He added that 16 Egyptian companies have so far established operations in Ghana, bringing in over one billion dollars in foreign direct investment and creating jobs.
“In 2020, our trade volume stood at 70 million dollars. By 2023, it had grown to 106 million dollars, and this year, we project it will exceed 400 million dollars. Sixteen Egyptian companies have also established operations in Ghana since 2021, bringing more than one billion dollars in foreign direct investment. These investments are not only strengthening our economies but also creating jobs for our young people,” Ambassador Youseef said.
Treasurer of the Ghana National Chamber of Commerce and Industry (GNCCI), Michael Caesar, however, highlighted the persistent trade imbalance. He noted that between 2020 and 2023, Ghana exported goods worth just 21.2 million dollars to Egypt, mainly raw commodities, compared to imports worth 448.6 million dollars across diverse product lines. He urged Ghana to diversify its exports and tap into Egyptian expertise in value addition, agro-processing, and manufacturing.
“This imbalance shows Ghana’s continued reliance on raw commodity exports compared to Egypt’s strong industrial base and value-added production. We must diversify our exports, build value-added industries, and forge stronger trade facilitation mechanisms that give Ghanaian businesses greater market access,” Mr. Caesar said.
Accra Regional Chairman of the Association of Ghana Industries (AGI), Mr. Tsonam Akpeloo, described the forum as timely as Ghana rolls out its 24-hour economy policy. He encouraged Egyptian companies to consider Ghana as a hub for fertilizer and chemical production to support local agribusiness and gain access to the wider West African market of more than 300 million people under AfCFTA.
“A critical component of successful farming is fertilizer, and your presence here is timely. We want Egypt to consider Ghana as a hub for fertilizers and chemicals to serve the entire West African market. Ghana has proven to be a safe haven for investment, and under the AfCFTA, businesses here can access a market of 1.2 billion people across Africa,” Mr. Akpeloo stated.
A representative of the Ministry of Trade and Industry, assured that government remains committed to creating an enabling environment for business. He pointed to reforms including the revival of dormant factories, the development of special economic zones, and the review of investment laws to attract more foreign participation.
“The 24-hour economy vision is about building industries that do not stop at sunset but run through the night, creating jobs and exports. We are reviving viable but dormant factories such as the Komenda Sugar Factory and Volta Star Textiles, and we believe Egyptian investors can play a catalytic role in bringing them back to life,” he said.
Executive Director of the Chemical and Fertilizer Export Council, Mr. Mohamed Mageed, pledged to strengthen collaboration with Ghana in joint ventures, technology transfer, and industrial development.
“Egypt has significant expertise in fertilizers, chemicals, and agro-processing technologies. We are committed to building long-term partnerships that will not only meet the needs of our people but also open new opportunities for sustainable growth in both countries,” Mr. Mageed said.
The Forum was organised by the Egypt Chemicals and Fertilizer Exports Council in collaboration with the Association of Ghana Industries (AGI) and the Ghana National Chamber of Commerce and Industry (GNCCI). It brought together Egyptian manufacturers in sectors including chemicals, agro-inputs, fertilizers, pesticides, detergents, personal care products, and construction materials, alongside Ghanaian business leaders, government officials, and industry associations.
The event served as a platform to foster deeper cooperation between Ghana and Egypt, with both sides expressing optimism about building sustainable economic ties in the years ahead.
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