 WEST AFRICA INVESTMENT CONFERENCE OPENS IN ACCRA.7-9TH MAY, 2012. The West Africa Investment Conference have been opened here in Accra at the plush Movenpick Ambassador hotel from the 7-9th of May, 2012.The conference commenced on the evening of the 7th with a cocktail reception organised by the host Objective Capital Investment Conferences from the UK and co-sponsored by the Weston Capital Management ,their conerstone sponsor here in Ghana. The evening saw dignitaries from around the world including CEOs of Major Private Equity companies, Entrepeurneurs, the British High Commissioner, Ministers from the various agencies like Trade and Industry, Ministry of Finance , Agriculture, policy makers, people from the Banking and Financial Industry etc. The Next day saw a look at the regional environment in a broader context with Rex Kontor, the Executive Director, Weston Capital. Then it was followed by a presentation by Vannessa Adams, Project Director,USAID West Africa Trade Hub. She mentioned that ,"Financial Trade only is not enough, equity Investment only is not enough, Trading only is not enough, It is integration of these factors which is enough." Again, a second speaker was Christian Dahm, Managing Director, African Cashew Alliance spoke broadly on Capturing Value in Agribusiness with particular reference to cashew. He mentioned that about a decade ago, Africa was perceived by the world as a continent of hopelessness, but the opposite can be said of Africa today. Today, Africa contributes 45% of the worlds crop. He was asked however by journalist that Cashew nuts seem to be very expensive in Ghana than say groundnut or any other nut for that matter and can mostly be seen on the shelves of supermarkets rather than on the open market, therefore, there is a lack of accessibility of the nuts. Mr. Dahm however, attributed this to the yield of the trees, the lack of domestic market, production of the cashew etc. There was a five minute coffee break around 11.30GMT and a re-convengence with Mr. Toni Aubynn, CEO, Ghana Chamber of Mines on the topic Gold prices soar, Africa loses out?, a recent publication by the Africa Development Bank. He mentioned that his primary role as the CEO of the Chamber of Mines is to see a meaningful Mining Industry yet he disagrees with the people who he represent that the mining companies do not own a responsibility to the community. After
lunch, there was presentations by Harriette Amissah-Arthur, Partner,
Arthur Energy Advisors on the regional power market together with
Dr.Ofosu-Ahenkorah,Executive secretary, Energy Commission. There was a five minute coffee break around 11.30GMT and a re-convengence with Mr. Toni Aubynn, CEO, Ghana Chamber of Mines on the topic Gold prices soar, Africa loses out?, a recent publication by the Africa Development Bank. He mentioned that his primary role as the CEO of the Chamber of Mines is to see a meaningful Mining Industry yet he disagrees with the people who he represent that the mining companies do not own a responsibility to the community. After lunch, there was presentations by Harriette Amissah-Arthur, Partner, Arthur Energy Advisors on the regional power market together with Dr.Ofosu-Ahenkorah,Executive secretary, Energy Commission as well as other panel discussions on Power project experiences by Sam Brew-Butler, Chairman, Cenpower Generations Company Limited and the role of private equity in regional development by Solomon Asamoah, Deputy CEO, Africa Finance Corporation.These discussions went pretty well and it ended day2. The third and final day however, saw two break away sessions being formed. One was on Finance and Infrastructure and the other was on the regional focus on SME.The finance and infrastructure had a panel discussing the topic, Building a vibrant finance sector in the region including capacity building, pension and bank reform, funds,stock/commodity market.. Members included, Nana Osi-Bonsu,Director-General,Private Enterprise Foundation. Agatha Quayson, Trade/Private Sector Development Specialist, Swiss Secretariat for Economic Affairs.(SECO).There were other topics like Initiatives to transform the capital market by Sam Pee Yalley, CEO,National Pensions Regulatory Authority. Professor Kwame Boasiako Omane-Antwi, Vice Rector, University of Capecoast. The focus on the conference really is the key issue of power and infrastructure,the capacity of the markets to support and drive growth, the corporate and SME sector and mineral resources. -Story by Malise Otoo. LOCAL BUSINESS NEWS.
THE GHANA FINANCE AND INVESTMENT CONFERENCE. 7TH -8TH FEBUARY, 2012. INFRASTRUCTURE FINANCING AND PPP. The session was spearheaded by Malik Faroun, Solomon Asamoah, and Hon. Hanna Tetteh, Minister of Trade and Industry. “Financing SMEs is a very difficult thing to do especially when dealing with the bank.” Solomon Asamoah, Africa Finance Corporation. “Competition is global, it’s not just continental.” Hon. Hanna Tetteh, Ministry of Trade and Industry. She spoke extensively on reforms and government intervention in developing SMEs.” International monies are available to help set up SMEs, example through donor partners’ funds etc. but to access you need to have the SMEs access set up to do that. Ghana have generated a lot of goodwill overseas, therefore, the issue is not the lack of money. MINING Kwame Addo-Kuffour, Country Director, Anglo Gold Ashanti. John Devonald Hon Henry Ford Kamel, Peet Van Shalkwyk These distinguished personalities were on the panel to discuss the subject of mining at the two day conference. “There are about 27,000 employees in the large scale mining sector in the country. There are about 1 million employees in the mining sector of this country.” -Deputy, Minister of Lands and Natural Resources. “Diversified economy is a good thing.” Kwame Addo Kuffour. “We need to define the development goal of what mining does for us.” Hon Henry Ford Kamel. Sighting examples from other mines in South Africa. The granting of mining permit will now be done through the procurement law set out under the constitution so that the company with the best bid will be selected for the license after scrutiny, he said.
AGRICULTURE Jan Nijhoff Henry Alhassan Shiraza Haruna Agesheka Ruth Smith Adjei Yasser Toor Jon Vandenteeuvel -Lack of Infrastructure. This was sighted as one of the challenges facing the Agriculture industry of this country. - Ghana imports too much poultry. -Afram plains project must be properly studied and improved. -Lake Volta is a strategic resource of this country. Story by Malise Otoo. |
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