The U.S. will invest more in Ghana through the EXIM Bank. The investments will be focused on small businesses and medium scale enterprises.
The Vice Chairman of the bank, Wanda Felton, at a discussion with Ghana’s President John Evans Atta Mills at the Castle, Osu in Accra on Tuesday, said the extension of the bank’s operation was as a result of the West African nation’s freindly business environment. It was also part of the bank’s long term plan for more economic co-operation with Africa announced by US President Barack Obama in 2009, she added. Felton pledged to woo US investors to support the Ghanaian economy by letting them know the enormous potentials that exist in the country. The vice chairperson of the Export and Import Bank further said the bank would support American business interests in the country through which it sought to expand its business co-operation with Ghana. Ghana’s President John Atta-Mills welcomed the move, saying Ghana was ready to partner genuine investors for mutual benefit. Mills stressed the need to take advantage of positive opportunities and cooperation to address the challenges of doing business among the nations The bank supported the construction of the country’s hydro electric power, the Akosombo Dam and had was supporting the energy sector for the last decade, through rural electrification and the Self Help Electrification Programme. About US$575 million has been invested into the energy sector, small and medium enterprises in the last decade. Other areas of target interest are agribusiness, trade and commerce.
U.S.-Ghana relations have really taken off since Barack Obama became President of the U.S. From his first visit to Ghana in 2009, using it as an example of African democracy, good governance and competency, relations continue on an upward positive track. This has paid off as both nations come closer economically through trade and business as this is shown through this new agreement.