President Nana Addo Dankwa Akufo-Addo has invited investors from South Africa to take advantage of the various opportunities that exist in bauxite and other raw material industries in Ghana to establish businesses.
The President also encouraged Ghanaian businesses to explore opportunities offered by the Africa Continental Free Trade Agreement, (AfCFTA) to invest in South Africa.
At a South Africa business Summit in Accra which forms part of the state visit by President Cyril Ramaphosa of South Africa, both leaders pledged scale up trade relations between the two countries.
South Africa’s economic ties with Ghana have strengthened since the two countries established formal diplomatic relations in 1994.
Ghana is the second-biggest export market for South African goods in Africa, after Nigeria.
Some of the biggest South African companies like mobile network operator, MTN, food retailer Shoprite among others have invested in the Ghanaian economy.
With government agenda of transforming the economy from raw material producing to industrialisation, President Akufo-Addo asked the captains of industry to support government efforts.
He said there opportunities in the oil and Gas sector, bauxite, agro businesses among others that need to harnessed.
President of South Africa, Cyril Ramaphosa, described Ghana as the citadel of democracy and urged country men to invest in Ghana.
He congratulated Ghana for hosting the Secretariat Continental free trade area. He said for the objectives of the AFCTA to be achieved, countries must partner to build infrastructure.
The Business Summit was organized by Ghana Investment Promotion Center.
President Ramaphosa has since left the country.
Story filed by Bright Ntramah
