THE GHANA Investment Promotion Centre (GIPC) and the German-African Business Association (Afrika-Verein) have signed a Memorandum of Understanding (MoU) with the objective of fostering bilateral trade and investment between Ghana and Germany.

Both sides under the MoU will, among other things, agree to regularly identify specific projects to be pushed and supported on business and political levels.
The Chief Executive Officer (CEO) of GIPC, Yoofi Grant, signed on behalf of the centre while the CEO of the association, Christoph Kannengiesser, signed on their behalf of the association.

Mr. Grant, in his submission, highlighted the purpose of the MoU being a platform to further deepen Ghana’s engagement with Germany, as well increase trade and investment for mutual benefits.

He also mentioned that following the G20 Compact with Africa – Germany Ghana Investors Forum held in Accra last year, the centre will be undertaking an investment mission to Berlin this year to allow for German companies to meet, network and partner Ghanaian businesses.

The signing of the MoU was conducted on the sidelines of the third German-African Business Summit (GABS) held from February 11-13, 2019, at the Kempinski Hotel Gold City in Accra.

The summit was centred on providing a platform for small and medium scale enterprises in Africa and Germany to explore business opportunities.
It brought together over 500 German and sub-Saharan African high-ranking business executives and government representatives.

This year’s event was put together by the Sub-Saharan Africa Initiative of German Business (SAFRI).
The previous GABS was hosted in Nairobi, Kenya.
The GIPC has so far registered 174 projects from Germany from September 1994 to September 2018 with an estimated project value of $74,996,962.31.

The projects are spread in the sectors of agriculture, building and construction, export trading, general trading, liaison, manufacturing, services and tourism.

Afrika-Verein is the nationwide, cross-industry foreign trade association of German companies and institutions, interested in economic cooperation with African countries.

It promotes the exchange between German and African representatives from business and politics and in doing so, commits to a new image of Africa in Germany.

Credit: DailyGuide
(By Jamila Akweley Okertchiri)