Ambassador Gene Cretz addressing participants at the Agribusiness Investment Summit
The Ambassador of the United States of America to Ghana, Mr. Gene Cretz has called for more private sector participation in agriculture in order to promote economic growth.
Ambassador Cretz said this at this year’s Agribusiness Investment Summit organized by USAID’s Financing Ghanaian Agriculture Project (FinGAP) in partnership with the Ministry of Food and Agriculture’s Ghana Commercial Agriculture Project (GCAP).
The event, which is also the first of its kind in the country, sought to present concrete information and analysis on agribusiness investment opportunities in Ghana and to connect investors, financial institutions and relevant stakeholders.
Another reason for the summit, according to Rick Dvorin, Chief of Party of USAID FinGAP, was to present to prospective investors the profitable agricultural opportunities identified by the USAID after several collaborations with stakeholders across the country.
Ambassador Cretz, who was one of several dignitaries who participated in the event, emphasized on the importance of agriculture to the economic development of Ghana.
He noted that “agriculture is the engine of Ghana’s economic growth, and full private sector participation is the fuel for that engine”.
According to him, private sector investment in agriculture is key to increasing Ghana’s production, which would further translate into significant growth in the country’s economy.
The summit’s agenda included opportunities for networking with a variety of investors and managers from investment funds, commercial banks, development finance institutions, and government representatives who can ensure the realization of agricultural projects.
Francis Kalitsi of Serengeti Capital, an Africa-focused investment advisory firm which participated in the summit, said “Ghana has a very attractive investment environment and the summit is exactly the kind of event we look for to connect with firms, discover opportunities and make deals.”
Participants of the event were also presented a first-hand learning experience from business leaders and experts across Ghana and beyond.
As part of the event, an innovative online investment opportunity map was unveiled to help investors see key data points relevant to successful projects.
The Minister of Food and Agriculture, Hon. Clement Kofi Humado and Hon. Ricketts Kweku Hagan and Hon. Cassiel Ato Baah Forson, both Deputy Ministers of Finance, Trade and Industry, also participated in the summit along with other high-level US government representatives and CEOs of leading agribusiness firms.
In all, more than 150 stakeholders from leading agribusiness firms, commercial, rural and community banks, impact investors, non-bank financial institutions, government ministers and development partners participated in the Ghana Agribusiness Investment Summit 2014.
By: Prince Asare, Diplomatic Call
