Ghana - Power, Agriculture and AIF 2010

While visiting Ghana for the first time in several years I was fortunate to have the opportunity to call on the President, HE John Atta Mills. It was good to continue our conversation started when CBC hosted him and his team for the Ghana Investment Forum back in May in London.

During my meetings with the President and several Ministers two main themes running through the government’s programme became apparent.

1)
Managing the proceeds of the newly discovered petroleum and gas reserves for growth and development. The President is inviting international investors to work with his government to develop the infrastructure that will make growth happen.

One of the Key restraints on Ghana’s growth and development is access to power. The county’s current capacity is around 2000 Megawatts, Ghana needs to produce around 5000 a year to match the demand. The Government is looking for investors and technology to help produce power from the country’s gas, petroleum and other sources including renewable, and in its delivery to the public.

2)
The second theme of government policy is on agriculture. The Government is determined to enhance production and encourage commercial farming practices, to take Ghana from a net importer of food to an exporter in the shortest time possible.

Ghana, having built on the solid base of democratic principles and an open economy, is fast becoming the model of a modern African economy. I am glad to see Ghana aiming high; to achieve its goal of becoming a middle income country by 2015 the country will have to achieve growth of between 8 and 10% a year and attract international investors to help bridge the infrastructure gap.

My advice to investors everywhere is to use Ghana as the window to Africa, and join us at our Africa Investment Forum in February next year as we hold it in Ghana for the first time.