By Shruti Menon Seeboo
In a recent interview with Her Excellency Ms. Elizabeth Nyantakyi, Consul-General at the Consulate General of Ghana, we explored the dynamic landscape of bilateral and diplomatic ties, particularly in the context of Africa’s investment outlook. Ms. Nyantakyi highlighted the significance of the AfSIC conference in fostering connections among investors and promoting sustainable development across the continent. She emphasised the role of Mauritius as an Education Hub for Africa, facilitating knowledge exchange and capacity building. Additionally, we discussed the transformative potential of the African Continental Free Trade Area (AfCFTA) and its impact on trade and economic synergies among member states. Her insights into the importance of bilateral cooperation underscored the collaborative spirit essential for driving growth and innovation in Africa. Excerpts:
- Ghana Day Business Forum Impact: The Ghana Day Business Forum emphasized Ghana as a preferred investment destination in West Africa. What key takeaways from this event do you believe will most significantly enhance investment opportunities between Ghana and Mauritius?
Indeed, Ghana has the wherewithal to be classified as a preferred investment destination in West Africa. Some items from the keynote address by the Deputy Minister Hon. Kwaku Ampratwum-Sarpong resonated very well with the Mauritian businessmen and women. This included the fact that in Ghana, emphasis has been placed on digitalization. To ease the burden of doing business and investing in the country, Government of Ghana has streamlined the process to provide faster and convenient services to people. This point was buttressed by Mr. Yofi Grant, CEO of the Ghana investment Promotion center (GIPC) during his presentation when he indicated the following:
A. Openness: He spoke of Ghana’s ports, geographical location, average travel time to major destinations in the world.
B. Optimism: Ghana had the following which make it more attractive to investors:
- Enhanced Business Regulatory Reforms;
- Investment Climate Reforms;
- Public – Private partnerships;
- Digitalisation of Government Services;
- Government support in the form of import duty exemptions, local incentives and tax rebates as well as concessionary tax rates;
- Investment Guarantees for investment; and
- Accelerated depreciation and deductions aftercare services and Diaspora Investment Desk
2. Economic Development Board Collaboration: Mr. Ken Poonoosamy highlighted the commitment to collaborate with Ghanaian institutions. How do you envision this partnership benefiting Ghanaian businesses and investors, and what specific initiatives are planned to strengthen this collaboration?
In Ghana, government institutions like the Ghana Investment Promotion Centre (GIPC), Ghana Export Promotion Authority (GEPA), Ghana Free Zones Board (GFZB), Ghana Enterprise Agency among other things exist to readily assist, secure and sustain investments into the country. It is important to note that in Ghana, the equivalent of the Economic Development Bord (EDB) of Mauritius is the Ghana Investment Promotion Centre (GIPC) and as such, the effective collaboration with these Ghanaian institutions to share best practices will enormously benefit Ghanaian businesses and investors and vice versa. Already the Mauritius Chamber of Commerce and Industry had been having webinars with the relevant Ghanaian institutions.
The just ended Business Forum is a testament to this collaboration. The Consulate General will be working with relevant stakeholders including the African Continental Free Trade Area (AfCFTA) of both countries to ensure successful trade relations on the platform.
3. Education Hub for Africa: Mauritius is positioning itself as an education hub for Africa, attracting Ghanaian students. How does the growing educational exchange between Ghana and Mauritius contribute to the bilateral relationship, and what steps are being taken to further enhance this educational partnership?
Students especially from Ghana in the various Universities in Mauritius have excelled in their various fields of endeavours. Back home, these students have brought their experiences to bear in the development of Ghana and thus bringing Mauritius to the limelight that Ghana can partner with in the area of Education.
In November 2023 the Consulate-General of Ghana collaborated with the Tertiary Education and Scientific Research Directorate of the Ministry of Education, Tertiary, Science and Technology of Mauritius to discuss the African Mauritius Scholarship scheme offered by the host country and to secure scholarship slots for some Ghanaian students to pursue undergraduate and graduate courses in Mauritius. The Consulate is making arrangements to meet with the host Ministry of Education to explore ways of how the two countries can collaborate in the areas of Education.
4. Trade and Economic Synergies: Mauritius imports a variety of goods from Ghana, including wood and fresh fruits. How can both countries leverage their complementary economies to explore new trade opportunities and address any current trade challenges?
Given the citing of its headquarters in Accra, Ghana welcomes the creative initiatives being introduced to expedite trading under the AfCFTA, including payments settlements. It is therefore commendable that Mauritius is one of the seven countries that led the implementation of the AfCFTA Guided Trade Initiative (GTI). Today Ghana boasts of over 14 companies while Mauritius has about 25 companies trading under the GTI.
5. AfCFTA and Bilateral Cooperation: Deputy Minister of Foreign Affairs and Regional Integration of the Republic of Ghana, Hon.Kwaku Ampratwum-Sarpong emphasised the importance of the African Continental Free Trade Area (AfCFTA) and the Bilateral Permanent Joint Commission for Cooperation. How do you see these tools facilitating stronger economic and trade relations between Ghana and Mauritius, and what role do you anticipate they will play in future collaborations?
The trajectory of the global economy makes it imperative for countries to come together to find innovative ways to address issues of mutual interest in order to navigate it accordingly. Leveraging tools such as the Bilateral Permanent Joint Commission for Cooperation between Ghana and Mauritius is important to finalize and renegotiate bilateral agreements and treaties to make them fit into today’s business environment. The Consulate-General of Ghana is therefore engaging with the relevant stakeholders in Ghana to ensure that the PJCC takes place before the end of the year.
As part of programmes to ensure a successful AfCFTA, the African Union has developed the African Regional Integration Index which is using 5 indicators to gauge, track and measure the performance of the Regional Economic Communities (RECs) and once that is achieved, both countries among other members of AfCFTA will enjoy trade integration, regional infrastructure, free movement of people, financial and macro-economic integration and productive integration. Again, AfCFTA through its roll out of the Pan African Payment and Settlement System (PAPSS) will facilitate trade payments and mitigate the challenge of loss in conversion of 3 currencies through a 3rd currency. The use of this payment system is already being used in the West African Monetary Zone and I am hopeful that this will facilitate and enhance economic growth among member countries.
