The Ghana Investment Promotion Centre, (GIPC) has revealed that there are a lot of investment opportunities in the Upper West Region that remain untapped and could be profiled and marketed to the investment market both locally and internationally.
“If you look at the various resources that the region has, I believe there are a lot more that have not been captured, and it is important for us to let the world know what is bound in the region”, the GIPC said.
Mr Edward Ashong-Lartey, the Director of Investor Services at the GIPC, revealed this in Wa on Tuesday during a sensitisation for the general public, business community and the Municipal and District Assemblies (MDAs) in the region on the activities of the GIPC and ways in which the centre could support their businesses to grow.
The GIPC is carrying out a nationwide public sensitization to enable the business community and the public to understand the mandate and operations of the centre as well as to identify business opportunities that could be marketed for investment.
About 120 people including businesses, representatives of the various MDAs and members of the public participated in the sensitization.
Mr Ashong-Lartey indicated that in spite of the many businesses and investment potentials in the region, only five businesses had registered and benefited from the GIPC since 1994.
He observed that the centre was responsible for the promotion and coordination of both foreign and local investments in the Ghanaian economy.
He encouraged the businesses to engage with the business development specialists at the GIPC to enable them to profile the specific business opportunities, which they could market to the investment community.
“There is a lot of enthusiasm among the business community in the region, the resources are there and there are willing entrepreneurs here, so together we can work to promote what the region has to offer”, Mr Ashong-Lartey observed.
Mr Mohammed Abdul-Mumin, the Upper West Regional Director of the Ghana Enterprise Agency (GEA), said the GIPC mostly supported limited liability businesses and said most businesses in the region were sole proprietorships hence their inability to benefit from the GIPC.
“For businesses to grow, they go beyond one person’s capabilities. You need to open up for other people to partner with you. The partnership will also increase employment and national incomes”, he explained.
Mr Abdul-Mumin urged the businesses and people in the region to maximize the business development opportunity the GIPC was presenting.
Some business operators at the event commended the GIPC for the information given to them and expressed hope that the GIPC would position itself appropriately to support the businesses in the region to benefit from the Africa Continental Free Trade Area (AfCTA).
Madam Asana Ali, a fashion designer in Wa, noted that the initiative would enable them to develop their businesses, employ more youth, and help reduce the high rate of unemployment in the region and its attendant vices such as ‘galamsey.’