• About
  • Advertise
  • Privacy Policy
  • Contact
Thursday, February 2, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Africa Needs to Position Itself to Optimise Investment- Yofi Grant

January 24, 2023
Stephen M.CbyStephen M.C
in Vaultz Business
0
GIPC Expresses Worry over Ghana Losing Out on US$130 billion Chocolate Market

Yofi Grant, CEO of GIPC

Mr Reginald Yofi Grant, the Chief Executive Officer, of Ghana Investment Promotion Centre (GIPC), has stressed the need for Africa to re-position itself to attract Foreign Direct Investment (FDI) to boost investment in its numerous natural resources.

The GIPC Boss noted that even though Africa has many natural resource endowments, including lithium, bauxite, and gold, and with 70 per cent of the world’s arable lands, it was still a small player in terms of global FDI attraction with only 5.2 per cent.

Mr Yofi Grant made this known at a news conference in Accra in preparation for the GIPC hosting the First Annual Assembly of African Investment Promotion Agencies in Accra. According to the CEO of GIPC, the meeting has become quite important because of the developing landscape in the global economy. “And not only that, but Africa is trying to forge a new narration on its relationships with nations around the world after the COVID-19 pandemic, which caused lots of disruption to trade and investments globally,” he said.

RelatedPosts

Gold For Cash, Not Gold For Oil – Mr. Mercer

UMB Partners With SIC Life Limited To Launch UMB Educational, Funeral Plan

eTranzact Acknowledged As The Pacesetter Of ‘Leading Fintech Solution Provider’

“I’m also representing Sub-Saharan Africa on the Board of the World Association of Investment Promotion Agencies and my remit is to rally all the agencies in Africa for our mutual benefit, re-access the opportunities and re-position ourselves as major recipients of foreign direct investment.” 

Mr Reginald Yofi Grant

Mr Reginald Yofi Grant underscored the need for the leaders to leverage the African Continental Free Trade Area (AfCFTA) to trade among themselves since it was one of the largest trading blocs in the world.

“We need to take advantage of the AfCFTA for wealth creation on the continent. If you look at the 480 major companies in Africa generating a billion dollar per year, most of them are multinationals and so we need indigenous ones to grow and create jobs for the teeming youth in Africa.”

Mr Reginald Yofi Grant

Low Percentage of Intra-African Trade

The CEO lamented the low percentage of intra-African trade, which is hovering around 18 per cent, and urged African leaders to leverage on the huge population of the continent; 1.4 billion, for wealth creation.

The Heads of African Investment Promotion Agencies, businessmen and women as well as academia will meet in Accra on Wednesday, January 25, to strategize on how African nations can add value to natural resources through Foreign Direct Investment (FDI) to boost their economies and create jobs.

The discussions will be held during the First Assembly of African Investment Promotion Agencies (AAIPA) meeting at the Kempinski Gold Coast City Hotel, Accra, where participants would deliberate on measures necessary for the adoption of Common Trade Framework and Investment Protocol to enhance intra-African trade and Investment.

This will take place alongside the Africa Prosperity Dialogue series, to discuss ways to enhance economic growth and transformation of the continent.

The World Investment Report by the United Nations Conference on Trade and Development (UNCTAD) in 2021, indicates that post-Covid-19 pandemic, Africa’s foreign direct investment increased from some $40 billion in 2020 to $83 billion in 2021, which was the highest the continent achieved over the last few years.

It can be recalled that Mr. Grant recently said the continent look inward on how it could promote intra-African trade through AfCFTA, saying “Africa needed to redefine how it looked outward towards its investor partners”.

The CEO of GIPC called for cooperation on increasing intra-African investment in Africa, which was relatively low compared to other regions of the world.

There are currently about 48 African Investment Promotion Agencies, and the Annual Assembly of Investment Promotion Agencies will serve as the official gathering for African IPAs to engage in discussions, exchanges, and knowledge sharing on policies, interventions, current trends in FDI, best practices on investment promotion, the AfCFTA, among other topics.

READ ALSO:  Krobea Asante Technical and Vocational Institute: Gov’t Cannot Take Up The Cost Of Damaged Property – Simon Osei Mensah

Related Posts

Gold For Cash, Not Gold For Oil – Mr. Mercer Charges
Vaultz Business

Gold For Cash, Not Gold For Oil – Mr. Mercer

February 2, 2023
UMB Partners With SIC Life Limited To Launch UMB Educational, Funeral Plan
Vaultz Business

UMB Partners With SIC Life Limited To Launch UMB Educational, Funeral Plan

February 2, 2023
eTranzact Acknowledged As The Pacesetter Of ‘Leading Fintech Solution Provider’
Vaultz Business

eTranzact Acknowledged As The Pacesetter Of ‘Leading Fintech Solution Provider’

February 2, 2023
You Don’t Want to Contribute to Ghana’s Growth- Finance Minister Fires State Entities
Vaultz Business

SIGA Projects 25% Contribution to GDP by SOEs in 2023

February 1, 2023
Africa Peer Review Mechanism to Host Editors’ Forum Today on Ghana’s Corporate Governance on AfCFTA Implementation
Vaultz Business

Africa Peer Review Mechanism to Host Editors’ Forum Today on Ghana’s Corporate Governance on AfCFTA Implementation

February 1, 2023
‘I Am Investible’ To Give A Facelift to Entrepreneurship and Job Creation in Ghana
Vaultz Business

‘I Am Investible’ To Give A Facelift to Entrepreneurship and Job Creation in Ghana

January 31, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

FNB Rectifies The ‘Binance Saga’, Undo Charges On Customers Accounts

Next Post

Twene Jonas Curses Alpha Hour Pastor

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Putin Commemorates Battle Of Stalingrad
Europe

Putin Commemorates Battle Of Stalingrad

by Comfort AmpomaaFebruary 2, 2023
Bryan Adams, Crafting Albums Amid Grammy Award Nomination
Entertainment

Bryan Adams, Crafting Albums Amid Grammy Award Nomination

by Esther Korantemaa OffeiFebruary 2, 2023
Shadrach Arloo’s Death: CCTV Camera At Westhills Mall Confirms He Was Confronted By Police
General News

Shadrach Arloo’s Death: CCTV Camera At Westhills Mall Confirms He Was Confronted By Police

by Emmanuel SarpongFebruary 2, 2023
Bugatti Sells Its Last Purely Gas-Powered Car for World Car Auction Record
Wheels

Bugatti Sells Its Last Purely Gas-Powered Car for World Car Auction Record

by Stephen M.CFebruary 2, 2023
Gold For Cash, Not Gold For Oil – Mr. Mercer Charges
Vaultz Business

Gold For Cash, Not Gold For Oil – Mr. Mercer

by Gifty BansahFebruary 2, 2023
AfDB Trains Its Regional Member Countries On Strategic And Operational Application Of Fragility Lens
Banking

AfDB Trains Its Regional Member Countries On Strategic And Operational Application Of Fragility Lens

by Priscilla Dziedzorm FiakpornuFebruary 2, 2023
Putin Commemorates Battle Of Stalingrad
Bryan Adams, Crafting Albums Amid Grammy Award Nomination
Shadrach Arloo’s Death: CCTV Camera At Westhills Mall Confirms He Was Confronted By Police
Bugatti Sells Its Last Purely Gas-Powered Car for World Car Auction Record
Gold For Cash, Not Gold For Oil – Mr. Mercer Charges
AfDB Trains Its Regional Member Countries On Strategic And Operational Application Of Fragility Lens
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In