A high-powered Ghanaian delegation led by Minister for Finance Kenneth Ofori-Atta left here for two Asian countries in a non-Deal Road Show about the country, Ministry of Finance has said.

The delegation will visit and study the financial sector of Hong Kong and Singapore from Friday (February 9) to Wednesday (February 14) and use the opportunity to woo Asian fund holders to invest in Ghana.

Ofori-Atta said the tour was part of a strategy to translate the vision of “Ghana-Beyond –Aid” and the vision of making Ghana a world class financial hub in the sub region into reality. “Ghana Beyond Aid calls for a rethink of our trajectory, our systems, and our aspirations.

We are looking at creating awareness of business opportunities in Ghana as well as whip up interest in our future bonds for a possible Samurai and Panda bond issuance. This requires us to begin onshore education of Ghana and sell a compelling narrative of our growing fiscal strength and budget sobriety,” the minister said. As predicted by most multilateral and multinational development institutions, including the World Bank group, Ghana’s economic growth in 2017 was expected to reach 7.9 percent on the back of increased oil and gas production on the Jubilee and Tweneboa-Enyenra-Ntomme (TEN) oil fields as well as the commencement of oil production on the Sankofa-Gye Nyame Offshore Cape Three Points (OCTP) fields.

The delegation include the First Deputy Governor of the Bank of Ghana, Deputy Ministers of Finance, Energy and Information, Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC); Director General, Securities and Exchange Commission; and officials from the Central Bank and the Ministry of Finance The delegation will meet with officials in both the public and private sectors, including portfolio/asset managers, and hold round table discussions with officials of the Singaporean Finance Ministry, the Central Bank, and the Singapore Stock Exchange.

“It is expected that this mission will strengthen Ghana’s investment and trade relations and also lay the foundation for the setting up of an Asia Business Council led by GIPC,” the finance ministry stated. In the 2018 budget statement, the finance minister expressed the desire of government to create a sub-regional financial hub to host international private equity and venture capital firms to support entrepreneurship and access to long-term capital by the private sector in the sub-region.

The government therefore wishes to use the road show to afford the delegation the opportunity to study best practice to inform Ghana’s policies and program for the financial sector. Enditem


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