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GIPC Embarks on Outreach to Foster Regional Development

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GIPC outreach

A dedicated team from the Ghana Investment Promotion Centre (GIPC) has embarked on a comprehensive sensitization tour in Sunyani, in the Bono Region, with the aim of engaging local stakeholders and charting a path to attract both local and foreign investors. This initiative is designed to invigorate development in the area.

The tour’s second phase, aptly themed “Grow in Ghana, grow with Ghana,” is slated to span across the Bono East, Bono, and Ahafo Regions. Its primary objectives are to raise awareness about the critical functions of GIPC, bolster local investments, and facilitate the growth of Small and Medium Enterprises (SMEs) to make them more appealing to potential investors.

During the Sunyani meeting, the GIPC team convened with processors, local investors, and key collaborators, including the Ghana Enterprise Agency (GEA), the Ghana Export Promotion Council, Exim Bank, and the Municipal, and District Assemblies (MMDAs), as well as traditional authorities.

The discussions revolved around the importance of making land available for investment purposes. The team also planned visits to businesses with substantial investment potential to educate them on creating opportunities that can attract both local and foreign investors to the region.

Mr. Edmund Onyame Ofoli, a senior Investment Promotion Officer at GIPC, emphasized that the second phase of the tour is focused on educating and sensitizing the Regional Coordinating Council (RCC), the MMDAs, and other collaborators to identify untapped potentials.

GIPC aims to help profile these potentials to attract external investors. Mr. Ofoli noted that while Accra, the nation’s capital, is currently congested and lacks space for investment, GIPC is eager to shift the spotlight to other regions beyond Greater Accra, thereby unlocking their full potential.

The team also seeks to engage with Nananom and landowners in various regions to ensure proper documentation, making it easier and more accessible for investors to get involved.

Mr. Ofoli advised sole proprietors to upgrade their businesses into limited liability companies, which can facilitate partnerships.

It’s noteworthy that this tour received support from the World Bank through the Ghana Economic Transformation Project (GETP) in the second phase of its annual Regional Sensitization.

The team has engaged with Regional Ministers, Regional Coordinating Directors, and RCC staff, along with representatives from the Ministry of Trade and Industry (MoTI), the Ghana Enterprises Agency (GEA), Microfinance and Small Loans Centre (MASLOC), Ghana Export Promotion Authority (GEPA), the Ghana Exim Bank, the Venture Capital Trust Fund, and the Ghana Free Zones Authority (GFZA) to host business forums and clinics.

Mad. Justina Owusu Banahene, the Bono Regional Minister, encouraged MMDAs to identify development projects that can be effectively marketed by GIPC to boost the overall development of their respective districts and the region. She specifically urged GIPC to focus on attracting investors to the cashew sector, as the Bono region is a leading producer of cashew nuts in the country, with untapped potential. Additionally, she encouraged GIPC to support the revival of the poultry industry in the Dormaa municipality, emphasizing that it was the leading poultry producer until the onset of COVID-19.

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