Heritage Securities Limited (HSL), in partnership with the United States Friendship and Economic Development (FED) Group, has launched the first-ever Ghana-US Trade Hub to provide facilitation services for companies seeking to trade with the United States.
Heritage Securities Limited, which is now a member of the US FED Group Consortium, will provide services including advisory, consulting, facilitation of trade, project and commerce development and financing to non-US public and private companies interested in doing business with US companies.
Speaking in an interview with B&FT at the Trade Hub launch in Accra on Wednesday, Mr. Edward Agyekum Kufuor, Director of HSL, said the partnership is an important one in Ghana’s quest to move from aid to trade in its bilateral relations with development partners. It is a good step to support President Akufo-Addo’s policy to boost trade and investment in Ghana.
Mr. Kufuor said trade, especially through the export of value-added Ghanaian products, is what will make the rest of the world hear about Ghana instead of aid or hand-outs.
“What is going to help our economy grow is when we’re able to foster these entrepreneurs and small businesses, encourage them and provide the environment where they can grow,” he said.
He noted that the Trade Hub will also address some of the issues that often came when start-ups and entrepreneurs try to access finance, as it will ensure that their ideas and projects are viable and link them to the appropriate investors and American traders.
This new partnership is also a catalyst to push the One District, One Factory and One Village, One Dam among other initiatives in collaboration with President Trump’s desire to see developing economies like Ghana trade with the United States instead of seeking aid for development.
“We bring this wonderful partnership into reality; perfect timing can’t be over-emphasized. This is unique, it has never happened in West Africa and this is the first time it is happening here; and hopefully we’ll be able to extend it beyond the borders of Ghana,” remarked Mark Darko, who doubles as Heritage Securities Limited’s Managing Director, and US FED Group [United States Friendship & Economic Development Group] Consortium’s, Managing General Partner of the respective firms. Timing is everything, and this is perfect. For those also with funding demands can now have access to United State private and/or public sector funding. We are running already,” he concluded.
Trade-First, not aid is the perfect solution for economies of both nations
Mr. Gideon A. Quist, Executive Chairman of HSL, said services of the Trade Hub are open to all companies interested in doing business with the United States. The FED is also ready to establish trade instruments for the importation of a wide range of American made products, Mr. Quist said, and urged businesses to take advantage of the Hub launched in-country.
Where there is a legitimate Trade, Project and/or Economic-Commerce Development in Ghana, US FED Group’s in-country Private Placement Vehicle (PPV) & General Partner, Heritage Securities Limited – a Ghanaian SEC licenced Investment Banking firm with the Group, out of Washington – is prepared to advise, consult, advocate, arrange, facilitate and/or provide Trade, Project and/or Economic-Commerce Development service, plus financing as warranted, to any non-US jurisdictional, public and/or private sector under Heritage Securities Limited’s authorised sphere of designated authority-at-large, in support of US-Ghana (+ other domestic emerging economies, at large) markets access-entry development between them and elsewhere.
The Consortium is currently looking at financing Celltel, formerly Kasapa, to the tune of about US$300million and could go higher if required. Other parties of interest are also being considered for matching with trade and funding opportunities in the United States.