GIPC engages stakeholders on SDGs

BY: Rejoice Lavinia Eklu
Mr  Yofi Grant - Chief Executive Officer of the Ghana  Investment Promotion Centre
Mr Yofi Grant - Chief Executive Officer of the Ghana Investment Promotion Centre

The Ghana Investment Promotion Centre (GIPC), in collaboration with the United Nations Development Programme (UNDP), has engaged stakeholders on the Sustainable Development Goals (SDGs) Investor Map utilisation.

The goal was to channel investments into major investment opportunity areas identified in the SDG Investor Map for Ghana.

The SDG Investor Map which was initiated by the UNDP was introduced earlier this year to help drive capital into inclusive and sustainable investments in key economic sectors.

It provides market intelligence to potential investors by providing data on SDG gaps and priorities in the country.

Meeting

The meeting, which was held in Accra yesterday, focused on the health and Information and Communications Technology sectors.

Institutions present at the event included the Ghana Medical Association, Ministry of Health, Ghana National Chamber of Pharmacy, Pharmaceutical Manufacturers Association of Ghana and the Ghana Pharmaceutical Chamber.

Others were Pharmacy Private Sector Hospitals, ICT firms, Members of the Chamber of Telecommunications, Financial institutions, as well as government agencies such as the Ghana Free Zones Authority and the Ghana Export Promotion Authority.

Speaking at the event, the Chief Executive Officer of the GIPC, Mr Yofi Grant, said that there were great opportunities in the ICT and health sectors that prospective investors could leverage to make profitable gains while making positive contributions to society, the environment and the economy at large

He said for the country to achieve its SDGs and spur growth, there was the need for public-private partnerships to overcome the pre-existing yearly SDG financial gap of $200 billion in Africa.

“Most of us believe that the SDGs are the preserve of government but they are also opportunities for the private sector”.

“As such, we as government and the GIPC will actively support and guide investors who seek to invest in any of the priority sectors outlined in the SDG Investor Map to propel national development,” he said.

Development needs

The UNDP Economics Advisor for Ghana and the Gambia, Mr Udo Etukudo, stated the SDG Investor Map provided information on 12 investment opportunity areas across five priority sectors: Agriculture, Infrastructure, Technology & Communications, Healthcare and Consumer Goods.

He explained that in as much as these sectors were being appreciated to address the development needs of the country, they were investment opportunities for investors to scale their profits.

Taking the health sector, for instance, Mr Etukudo said the country had about 4,000 healthcare facilities and it was estimated that investors would earn between 23.1 and 27.1 per cent return on investment.

Base value

For her part, the UNDP Resident Representative in Ghana, Dr Angela Lusigi, identified a base value of $39 million worth of SME investments in Ghana.

“This is within six months to September 2021 under its pilot scheme, and there is a potential for an additional $15.5 million,” she said.

She believed the event came at an opportune time as the government sought to increase investment and financing towards the achievement of national development goals that are aligned with the SDGs.