Enterprise Singapore, an investment promotion agency from the Asian country, says it is initiating measures to facilitate collaborations between manufacturers from Ghana and Singapore.
The efforts, its Regional Group Director – sub-Saharan Africa, Rahul Ghosh noted, aim to improve Ghanaian companies manufacturing capacity through partnerships with Singaporean counterparts, as well as knowledge-sharing.
To achieve this, Mr. Ghosh emphasised the need for sustainable infrastructure to ensure long-term viability, stating that Enterprise Singapore will assist Ghanaian traders in transitioning from trading to manufacturing through partnerships with Singaporean companies specialising in production.
The focus, according to the Regional Group Director, is to provide market sizing, optimising manufacturing processes, training workers, and ensuring compliance with standards for local and export markets.
Singaporean companies, according to Mr. Ghosh, face the challenge of selecting the right African markets to enter due to the continent’s diverse landscape. He noted that Enterprise Singapore addresses this issue by assisting companies in identifying opportunities, facilitating matchmaking and matching their products and services with local demand.
Additionally, it helps companies from Singapore find suitable partners in Ghana, emphasising the importance of long-term partnerships and technology transfer.
By starting with pilot projects, the companies can assess the market, build relationships and eventually establish themselves as Ghanaian and African entities as a whole.
The enterprise, according to him, will provide support in navigating government regulations, policy changes, and currency issues.
He further emphasised the significance of choosing the right partners in establishing a successful presence in Ghana and beyond, adding that through collaboration and technology transfer, Enterprise Singapore will promote sustainable growth and contribute to Ghana’s development.
“A few more similar projects – giant ones – are underway; we are at the early stages in those projects because there is quite a lot of work that needs to be done. The important thing here is the implementation agreement; once it is signed in the coming months, it is going to kick-start many projects,” he said.
As part of their plans, Mr. Gosh noted that his outfit is prepared to introduce some ideas to drive the growth of Fintech in the country, adding that the Fintech sector is very important as it promotes financial inclusion.
Explaining further, he indicated: “We are working with key stakeholders including the Bank of Ghana, financial institutions locally and the telecommunication networks because these are the key players in these markets and without them, we cannot operate”.
About Enterprise Singapore
Enterprise Singapore is the Singapore government agency championing enterprise development. It also supports the growth of Singapore as a hub for global trading and start-ups.
The agency attracts global commodities traders to establish their global or Asian base in Singapore. Today, Singapore is a leading global trading hub with a complete ecosystem for the energy, agri-commodities and metals and minerals trading clusters. It is also home to many global enterprises, start-ups and investors that operate in its robust pro-enterprise environment.
