GIPC the Best Investment Promotion Agency in West and Central Africa for 2020

Business News of Friday, 30 October 2020

Source: Ghana Investment Promotion Centre

Ghana Investment Promotion Centre has been adjudged best agency in the West and Central Africa Ghana Investment Promotion Centre has been adjudged best agency in the West and Central Africa

The Ghana Investment Promotion Centre has once more been awarded the Best Investment Promotion Agency in West and Central Africa by the Annual Investment Meeting (AIM) Investment awards 2020 having earned the top position as Winner from West and Central Africa for the Project- PE Power Limited.

This will be the fifth consecutive year that the Ghana Investment Promotion Centre has clung this very prestigious award and the Centre is very much gratified and honoured.

Having been acknowledged five consecutive times not only endorses the Centre as being the best and finest among its peers but also an endorsement for the diligent and notable efforts by the government of Ghana to establish a conducive business environment comparable to none on the continent. “This is a clear indication that we are on the right path to establishing Ghana as the preferred destination for foreign Direct Investments, critical to the realization of a ‘Ghana Beyond Aid’ said the Chief Executive Officer of the GIPC Yofi Grant.

The project, P.E Power Ltd which was submitted for the award, as the name suggests is a project within the Energy sector. It was registered in 2019 as a joint venture between Americans, British, Israeli, and Mauritanian investors valued at US$ 551,000,000. It is the operations and maintenance Company for the Amandi Energy Limited power plant, located at Aboadze in the Western Region of Ghana.

Besides the sizeable value of the investment, The P.E Power project will create some 67 direct jobs and several indirect jobs when fully operational. Its therefore not surprising, the project emerged as top scorer among the several projects submitted by other IPA’s.

According to Mr Grant, the receipt of this award will serve as further encouragement for the GIPC to work relentlessly at making Ghana a destination of Choice for Investments in Africa. “Although the recent months have been one of great economic turmoil globally due to the Covid-19 pandemic, Ghana has demonstrated excellent leadership in managing the crisis and the GIPC continues to assure the investor community that our economy will remerge much more resilient when the dust settles post the pandemic,” he added.

The award comes on the back of the GIPC’s sterling half year performance, where a total of US$785.62 million was recorded as Foreign Direct Investments into Ghana between January and June 2020 despite the economic challenges posed by the Corona virus pandemic.

The Annual Investment Meeting (AIM), an initiative from the UAE Ministry of Economy of the United Arab Emirates, is the World’s leading Investment-focused event aimed at enriching institutional, corporate and individual investors with relevant information for future investment decisions in high growth regions.

This year’s event was under the theme “Reimagining Economies: The Move Towards a Digital, Sustainable and Resilient Future,” and it came off from the 20th-22nd October 2020. It was the very first digital edition of the Annual Investment Meeting, featuring the use of virtual technology to generate, showcase, and facilitate the most attractive and secure investment projects and opportunities for investors from different parts of the world.

The three-day digital event was well patronized by Ministries and Government Departments, International and Regional Organisations, Investment Promotion Agencies, Special Economic Zones, Private Equities, Angel Investors, Venture Capitalists, Start-ups, Incubators, SME Financing Institutions, Smart City Solution Providers, and Technology Providers, among others, from more than 170 countries.

AIM Digital highlighted AIM’s six pillars – Foreign Direct Investment, Foreign Portfolio Investment, Small and Medium-sized Enterprises, Start-ups, Future Cities, and One Belt, One Road through different features such as Conference, Exhibition, Digital Country Presentation, Start-ups Virtual Pitch Competition, Conglomerate Presentations, Awards, Investors' Hub, Regional Focus Sessions, Made in Series, Investment Roundtables, and Networking Features.

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