Alex Dadey who doubles as the the Chairman for KGL and Ghana Investment Promotion Center (GIPC), has said that, Ghana’s major challenge in the trade market is the depreciation of the currency due to repatriation of goods by foreign investors.
He made this statement during day one of the 2024 edition of the Africa Prosperity Dialogue on Thursday January 25, 2024 at the Peduase Presidential Lodge at Aburi Hills in the Eastern region of Ghana, on the theme; Delivering Prosperity in Africa: Produce, Add value, Trade.
According to him, to address this issue, he would propose two potential solutions, of which one is adopting a new approach in Ghana’s investment strategy.
“ It is essential that African governments certifies African conglomerates like KGL group to establish presence in developing others. These conglomerates should be encouraged to acquire state in raw materials producing companies in the developed market thereby enabling them to benefit from the value added creation”, he said.
He emphasized that, this approach will generate significant profit from companies to boost the African economy.
Highlighting on his second approach, Mr. Dadey suggested that, it is equally important to incorporate and enforce a policy that encourages and requires foreign companies to invest portion of their earnings in Ghana.
Also at the event, the Chief Executive Officer of Development Bank Ghana who represented 3i Africa Summit, Kwamina Duker, reiterated that, the dialogue is a testament to Africans dedication to action, charting a course for the future where economic actions are as decisive and impactful as our ambitions.
“As we discuss, deliberate, and determine the path forward, let us do so with the knowledge that through collaboration, innovation, and focused investment, we will unlock a new era of prosperity for Africa”, he added.
