AGI ORGANISES FIRST INDUSTRIAL MISSION TO UK
The Association of Ghana Industries organized its first ever investment and industrial mission to the United Kingdom from the 25th to 28th June 2019 aimed at driving investment into Ghana.
The mission, which was led by AGI President, Dr. Yaw Adu-Gyamfi, included Chief Executives of about 15 Ghanaian businesses from the pharmaceutical, packaging, food, and business promotions sectors. It included an investment forum held at the offices of the Ghana High Commission in London, an industrial forum and B2B meetings with members of the Greater Birmingham Chamber of Commerce in Birmingham.
AGI President, Dr. Yaw Adu-Gyamfi was confident the trip would not only expose Ghanaian companies to the UK market but provide a platform to learn and share knowledge and technologies, as well as, land partnerships in the area of manufacturing. According to him, businesses on the trip are seeking partnerships to expand their manufacturing base in Ghana. He, therefore, called on the financing firms present to take a keen interest in developing partnerships with these businesses.
Also speaking on the sidelines of the investment forum in London, Ghana’s High Commissioner to the UK, H.E. Papa Owusu-Ankomah indicated that the idea behind hosting the program was “to let the private sector in Ghana create the opportunity to network and have access to capital at a competitive interest rate”. He urged the Ghanaian private sector to come up with packaged projects before seeking investment, and not just general projects. According to him, businesses seeking foreign investment must have projects with feasibility studies already done; and with knowledge of the amount involved and also how much is needed in either equity or debt financing.
“For us at the mission, we consider this to be a major part of our mandate. This will not be the last. We will continue to work in providing the platform for Ghanaian private sector to engage with institutions, agencies and finance people in the United Kingdom, he assured.
Participants at the business roundtable included representatives from the UK Ghana Chamber of Commerce (UKGCC), Ghana Chamber of Pharmacy, the Commonwealth Development Cooperation (CDC), Department for International Trade, Angel Finance Group, Citi Bank, GHIB, Sumitomo Corporation, along with other private equity funders and brokers.
The AGI team also participated in B2B meetings with the West Midlands Chamber of Commerce and the Greater Birmingham Chambers of Commerce in Birmingham. Businesses on the delegation participated in a host-the-buyer session where the host businesses were matched with the visiting delegation depending on their needs.
Members of the AGI delegation include Johnny’s Food and Meat Complex (Jfamco), Ribeth Hygenyk Foods, DannyPraise Computers, Hamdark Packaging, Aytech Power and Control Systems, Kofikrom Pharmacy, and Spintex Chemists. Others include MTV Marketing, Unicom Chemists, Pills Pharmaceuticals, Big Maron and Jenarko Pharmacy.
The AGI plans to make the Industrial and Investment Mission to the UK an annual affair, in order to boost the capacity of its member companies.