Saudi businesses asked to take advantage of AfCFTA opportunities in Ghana
Alhaji Mohammed Habib Tijani, Ghana’s Ambassador to Saudi Arabia, has asked businesses in the oil-rich Kingdom to take advantage of the African Continental Free Trade Area (AfCFTA) to invest in Ghana.
He said Ghana was a safe and profitable destination for doing business in Africa and that taking up opportunities would ensure the mutual benefit of the investors and the host country.
At a meeting with the Chief Executive Officer (CEO) of the Saudi Fund for Development (SFD), Sultan bin Abdul Rahman Al-Marshad, the Ambassador wooed investors of that country to make use of opportunities presented by AfCFTA.
A statement issued from the office of the Ambassador and made available to the Ghana News Agency said Alhaji Tijani briefed the CEO on investment opportunities in Ghana with particular reference to various government flagship programmes such as the One Village One Dam (1V1D), One District One Factory (1D1F), and the Planting for Food and Jobs (PFJ).
He said the initiatives were introduced to ensure all-year-round access to water by farmers, tackle youth unemployment, achieves food security, and add value to Ghana’s export through agro-processing.
Ahaji Tijani also spoke of other investment opportunities the programmes offered and requested the CEO to encourage Saudi investors and businesses to invest in the programmes.
He told Sultan Al-Marshad that in due course, the government would submit proposals on the programmes for consideration and possible bilateral investment opportunities.
He acknowledged the immense contributions of the SFD to the Ghanaian economy since the early 1980s and mentioned projects like the Northern Electrification Programme, the Tetteh Quarshie-Mamfe Road Project, and a recent loan granted for projects at the Korle Bu and Bolgatanga hospitals.
The CEO, on his part, said Saudi Arabia was a major producer of high-quality fertilizers and that the Saudi Exim Bank could be engaged to make arrangements with the Saudi Arabian Basic Industries Corporation (SABIC) to provide fertilizers to Ghanaian farmers at competitive prices under the PFJ.
He also requested Metropolitan, Municipal, and District Assemblies (MMDAs) in Ghana to submit proposals to the SFD for consideration in the areas of trade and investments.