On 24th and 25th February, 2010, Forethought Ghana will bring together one the biggest gatherings of business leaders, researchers, government bureaucrats and civil society advocates to discuss the opportunities that will be available within the Ghanaian economy for this year. Every participant will, after the spirited interaction that will take place during the programme, be better enabled to play his or her role in creating wealth.
The Opportunities 2010 Conference is taking place after an economically difficult year- perhaps the most difficult year for the world economy in about three generations! In a year where news on the economy was dominated internationally by the fall of giant corporations; loss of jobs; decimation of whole economies; and the frantic- but also, bold and largely successful- efforts of world leaders to rein in the economy from the brink, 2009 proved immensely challenging everywhere, especially for developing economies like Ghana's.
Domestically, the problem was particularly threatening because solutions to some of the major problems lay outside our borders- beyond our influence and our ability to take decisive action. Our economy's twin bulwark of cocoa and minerals experienced inevitable declines in demand internationally, significantly threatening government revenues. Additionally, the impact of the credit crunch and subsequent economic recession on Ghanaians living abroad also reduced remittances which have become an important part of our economy over the years. Government, in an effort to stabilise the economy, was able to obtain assistance from the International Monetary Fund, a move that proved very helpful but controversially suspended employment in the public sector for 2 years. Against this backdrop, Ghana can say in response to how we went through 2009, the same thing that Abbey Sieyes said when he was asked about what he did during the French revolution: “[We] survived”.
To continually survive and prevail, we must, in this important year, when economies worldwide are rebounding, start new businesses and grow existing ones; provide jobs to many more Ghanaians; and attract foreign investment to meaningfully grow our economy.
The Opportunities 2010 Conference provides a forum where some of the most important players in our economy and - through the media- the public will brainstorm, strategise and build important partnerships to make good on the opportunities in our economy, especially for this year. Participants will include researchers from institutions like the Institute for Statistical, Social and Economic Research ( ISSER); bureaucrats from various ministries, departments and agencies; academics; veteran businessmen; experts on various economic issues; and representatives from some of Ghana's biggest business corporations and most promising start ups. In 2 days, these participants will discuss the economy generally; energy and the new oil and gas industry; business financing; manufacturing; telecommunications and ICT; small and medium scale enterprises; and foreign investment.
On 13th January, the Opportunities 2010 Conference was launched at the British Council in the presence of eminent researchers, bureaucrats and business leaders. If the launch is a statement of what is to be expected at the programme itself, then participants can expect meaningful networking, stimulating interaction, refreshing ideas and inspirational moments. With speakers like Patrick Awuah, Kwame Pianim, Keli Gadzekpo, Stephen Adei and British billionaire entrepreneur Sir Richard Branson, the Opportunities 2010 Conference will be simply enriching!
The programme is being sponsored by ZAIN with support from Amalbank, Metropolitan Life Insurance Company and IPMC. The model of the Opportunities 2010 Conference is informed by Ghana's peculiar socio-economic framework and aspirations, and the example of similar programmes around the world like the World Economic Forum.
Several competent observers agree that 2010 looks promising for business, the Opportunities Conference may well be the key to unlock that promise.
Rich Clouds
bornrichh@gmail.com