A 35-member business delegation from Bavaria, Germany, was in the country last week to explore business opportunities for the mutual benefit of the two countries. The delegation is the first trade mission from that region to Ghana and was focused on partnering Small and Medium Enterprises (SMEs) which are mostly family-owned to create companies and jobs respectively.
Mr. Ulrich Konstantin Rieger, Head of the Bavarian Business delegation, said though German investors had already visited in terms of opportunities for investment, their focus was to explore beneficial opportunities that would leverage the skills and competencies of both countries to create jobs.
He said Ghana provides the right environment for local and family-owned businesses to succeed, hence their decision to explore the business opportunities.
The forum was organised by the Delegation of German Industry and Company (AHK Ghana) and brought together members of the Ghanaian private sector to share ideas with their Bavarian counterparts.
Government representatives were also present to brief the delegation on investment opportunities in the various sectors of the economy.
Mr. Carlos Ahenkorah, Deputy Minister of Trade and Industry who made a presentation on government’s industrialisation initiative, ‘One-District, One-Factory’, said there is room for investors to support the initiative financially through skills development to help achieve the Ghana Beyond Aid agenda.
He said for Group-one projects, investors require over US$2million-plus while Group-two projects will require between US$2million and US$500,000; Group Three and Four projects will require US$499,000 and below.
Mr. Ahenkorah said of the 602 reviewed proposals, 313 fell under Group-one and two projects, while 234 proposals need to be worked on.
Meanwhile, as part of the visit, the delegation paid a courtesy call on Vice-President Alhaji Dr. Mahamadu Bawumia and held a session with start-up businesses in the country.