Government’s resolve to make Ghana the financial hub in the sub-region and to diversify the sources of funds for Ghanaian bonds will receive a boost as Finance Minister Ken Ofori-Atta leads a delegation to Japan.
A statement from the Finance Ministry said the visit from April 9 – 14, 2018 is expected to boost bilateral trade and economic relations with Japan on the second leg of the Non-Deal Investor Roadshow to Japan.
Relations with Japan and the delegates are expected to highlight investment opportunities in the financial services sector, health, transport infrastructure, especially railway, real estate, agri-business, manufacturing, and industry.
The delegation also includes; the Minister for Roads and Highways, Deputy Ministers for Trade, Information and Health, as well as the Deputy Governor of the Bank of Ghana.
The high point of the delegations’ agenda is the meeting with the Japanese Deputy Prime Minister and Minister for Finance, Taro Aso, during which they will apprise the Deputy Prime Minister about Ghana’s recent macroeconomic development and achievement and the poise for economic transformation.
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“I particularly look forward to this meeting with the Deputy Prime Minister, in which we would reiterate our aspirations towards a Ghana beyond Aid which in the medium term needs a critical mass of international support to achieve the aspired transformation”, Mr Ofori-Atta said.
To broaden and expand the investor base of Ghana’s bonds, the Finance Minister and the Deputy Governor will hold strategic meetings with portfolio and asset managers where they hope to whip up appetite for Ghanaian instruments.
Ghana recently gave indication of a possible issuance of Samurai and Green bonds in the near future.
An equally high point on the agenda is the planned business seminar during which the Finance Minister and Officials of GIPC will make a pitch to investors and officials of the Japan External Trade Organisation (JETRO), the organisers of the seminar.
JETRO, is a Japan government-related organisation that works to promote mutual trade and investment between Japan and the rest of the world. Originally established in 1958 to promote Japanese exports abroad, JETRO's core focus in recent times has shifted toward promoting foreign direct investment into Japan and helping small to medium size Japanese firms maximize their global export potential.
While in Japan the sector Ministers will meet key government officials and the related businesses from the private sector to outline and explore possible areas of investment and cooperation in road and rail development, health and trade.
Other critical engagements include; a meeting with the Japan Bank for International Cooperation as well as with the State Minister for Foreign Affairs and officials of JICA to conclude the Ghana Japan Bilateral Investment Treaty.
The delegation will take the opportunity to meet and interact with Ghanaians in Japan to highlight the economic transformation, opportunities to invest in the government’s priority projects as well with the proposed Diaspora Bond.
A private sector group from Ghana, organised by the GIPC will also be in Japan at the same time to explore business opportunities in the Japanese Market.
In the current budget, government has many programmes and policy initiatives with incredible potential to transform the country’s economy and achieve a ‘Ghana beyond Aid’ in the medium to long term.
It is expected that this mission will strengthen Ghana's investment and trade relations with Japan.
A delegation led by the Finance Minister undertook a similar visit to Singapore and Hong Kong in February resulting in a high interest of fund and asset managers in Ghanaian bonds as well as new business.