Pres Woos German Conglomerate

President Nana Addo Dankwa Akufo-Addo says German conglomerate, Siemens AG, the largest industrial manufacturing company in Europe, has expressed interest to invest in Ghana.

Siemen's decision, together with the decision by German car manufacturing giant, Volkswagen, to establish an assembly plant in Ghana are testament to the confidence in the country's economy, according to the President.

"We are not resting on our oars. We will continue to work hard to attract investments -- domestic and foreign, into Ghana, so that we can unleash the sense of enterprise, creativity and innovation of the Ghanaian people, and help build a progressive, prosperous Ghana, whose citizens live in harmony and security," he said.

President Akufo-Addo said this yesterday when he addressed the ongoing G-20 Compact with Africa Conference in Berlin, Germany.

Additionally, at the Conference, HL Hamburger Leistungsfutter GmbH, a leading manufacturer and supplier of specialist feeds and compound feeds in Germany, signed an eight million Euro agreement to invest in Ghanaian company, Agricare Limited.

The investment from HL Hamburger into Agricare comprises of full technology transfer in animal feed formulation and sales, and also help enable Agricare utilise more locally produced raw materials in the formulation of feeds.

Whilst commending the German Chancellor, Frau Angela Merkel, for convening the conference, the President noted that Ghana was delighted with Germany's decision to re-orient its policy and relationship with Ghana, and, indeed, with Africa, from one based on aid, to relations focused primarily on trade and investment co-operation.

"My Government's vision of moving our country to a situation beyond aid, that is a 'Ghana Beyond Aid', is aligned to Germany's Compact with Africa programme. Under my leadership, we are determined to discard the mindset of dependence on aid, charity and handouts, and aim towards becoming self-reliant, within the context of strong global co-operation."

"We are well aware that, in order for Ghana to harness the full benefits of the Compact Programme, whose objective is to ensure more private sector investments, we have to get our act together. We have to create an enabling environment for investments in Ghana not just to survive, but to thrive."

"We believe that an improved macro-economy is a basic requirement for stimulating the investments we need for the significant expansion and growth of the national economy, and the generation of wealth and jobs," he said.

Additionally, the President indicated that his government had initiated and implemented policies that were encouraging and empowering the private sector to grow the Ghanaian economy, within the framework of macroeconomic stability.

"We believe that when the private sector flourishes, and when our enterprises become competitive, not just on the continent, but also in the global marketplace, then can we create the thousands and thousands of jobs our teeming masses of unemployed youth crave," he added.

President Akufo-Addo used the occasion, on account of the news of the impending departure from the German political scene, to congratulate Chancellor Angela Merkel on the exceptional quality of her leadership of Germany and Europe over the last decade.

"The Ghanaian people and I will regret her departure very much, for she has been one of the most outstanding leaders of modern times. We shall miss her very much," the President added.

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