By Francis Ntow, GNA
Accra, March 25, GNA – The IMF has announced that it plans to invest $450 million into Ghana’s private sector this year with the aim of enhancing productivity and generating job opportunities.
Mr. Kyle Kelhofer, who serves as the Senior Manager for Ghana, Liberia, and Sierra Leone at IFC, World Bank Group, mentioned that this assistance provided to businesses is an integral part of their initiatives aimed at decreasing global poverty and enhancing overall development.
During an interview conducted alongside a visit to several Foreign Direct Investment (FDI) firms in the nation led by the Minister of Trade, Industry, and Agribusiness, Mrs. Elizabeth Ofosu-Adjare, in Accra over the weekend, he made these remarks.
“Last year, our investments in Ghana reached over $450 million, primarily benefiting the private sector. We aim for a comparable figure this year as well. Therefore, we will keep providing support to businesses on a commercial basis with the objective of generating additional and higher-quality employment opportunities,” stated Mr. Kelhofer.
He characterized the minister’s trip to the firms with the aim of understanding their difficulties and assisting in resolving them as a correct move toward luring and maintaining international enterprises within the nation, which would aid in boosting economic development.
He stated that the government can keep working towards enhancing the investment environment, enabling businesses to flourish and attracting additional enterprises such as B5Plus. This would help create more and higher-quality job opportunities in Ghana and increase local value addition.
He believed that increasing domestic manufacturing could aid the nation by decreasing imports and reducing costs for other sectors’ growth. He advocated for establishing additional opportunities to utilize indigenous materials and manpower.
Mrs Ofosu-Adjare stated that the government, via the Ministry, would address issues related to land disputes by employing Alternative Dispute Resolution (ADR) methods. Additionally, they aim to tackle tax concerns to foster an environment where businesses can flourish within the nation.
She urged international businesses to handle their employees with respect, stating, “Your workforce is your backbone—treat them right, compensate them fairly, and collaborate joyfully.”
GNA
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