Yaw Amoateng Afriyie, the Deputy Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), has stressed on the need for businesses and investors to continue to be optimistic as Ghana’s economy strives to rebound from its current challenges.

Yaw Amoateng Afriyie expressed faith in the Nana Addo led government to turn economy around. According to him, his confidence in the potential recovery of Ghana’s economy is as a result of the government’s proactive steps towards resolving the economic crisis.

The Deputy Chief Executive Officer of the Ghana Investment Promotion Centre highlighted Ghana’s political stability and peaceful environment as key factors that continue to attract investor interest, positioning the country as a desirable investment destination.

Explaining further, Yaw Amoateng Afriyie noted that Ghana has consistently ranked as the safest place in the sub-region and the second most peaceful country in Africa, providing a beacon of hope amidst regional volatility. This and other factors, he said, are responsible for the county’s economy rebound.

Yaw Amoateng Afriyie, while speaking at the second edition of the Financial Economic Seminar, outlined the GIPC’s post-COVID-19 and Russia-Ukraine war strategies, which aim to position Ghana as an attractive destination for direct foreign investment.

The deputy CEO underscored the abundant opportunities available, particularly in sectors such as agriculture and manufacturing, urging investors to explore the country’s potential.

Optimistic Outlook for Both Global and Local Businesses

Afriyie expressed an optimistic outlook for both global and local businesses, asserting that Ghana remains an unrivaled location for conducting business.

“The GIPC views the current state of affairs with optimism, considering the prospect for both global and local businesses to benefit from the country’s economic rebound.”
Yaw Amoateng Afriyie

The Financial Economic Seminar served as a platform for experts from the banking sector, trade and industry, and academia to convene and discuss the impact of state policies on trade and industries.

As Ghana seeks to navigate the path towards economic recovery, the GIPC’s call for optimism reflects a concerted effort to attract investment and stimulate growth.

With its stable political environment, commitment to peace, and potential for economic revitalization, Ghana stands as an appealing destination for businesses and investors alike.

Meanwhile, the global economy Is poised to slow this year, before rebounding next year. Growth is expected to remain weak by historical standards, as the fight against inflation and Russia’s war in Ukraine weigh on activities.

Despite these headwinds, the outlook is less gloomy than in previous forecast, and could represent a turning point, with growth bottoming out and inflation declining.

Last year, economic growth proved surprisingly resilient in the third quarter across the world, with strong labor markets, robust household consumption and business investment, and better-than-expected adaptation to the energy crisis in Europe. Inflation, too, showed improvement, with overall measures now decreasing in most countries—even if core inflation, which excludes more volatile energy and food prices, has yet to peak in many countries.

The Ghana Investment Promotion Centre will play a crucial role in reviving the economy. The GIPC which is the Government of Ghana agency was established to encourage, promote and facilitate investments in all sectors of the economy of Ghana except mining and petroleum which are handled by the Ghana Chamber of Mines and the Ghana National Petroleum Corporation.