Advertisement

Mr Christoph Retzlaff — German Ambassador, Mr Stephen Antwi
Mr Christoph Retzlaff — German Ambassador, Mr Stephen Antwi

German investors upbeat about ‘one district, one factory’

Some German companies with operations in the country have expressed their willingness to invest in the one district, one factory intiative by the current government.

Telecommunications equipment manufacturing giant, Siemens, and a leading steel producer, ThyssenKrupp AG, a leading producer of steel, which are members of the Ghanaian-German Economic Association (GGEA), are among the companies that have expressed the interest.

“Ever since the policy was announced, a lot of German companies have been making enquiries about the viability of the policy and their readiness to come on board and invest in Ghana,” the President of the GGEA, Mr Stephen Antwi, announced at a business forum on “Doing Business with Germany” organised by the association in Accra last Wednesday.

The monthly business forum brings together German and Ghanaian businesses operating in both countries to share ideas and experiences on how to increase bilateral trade between both countries.

German work ethics 

Although Mr Antwi said many of the policies put forward by the current administration were feasible and would attract a lot of investors, “if the Ghanaian culture of doing business is not changed for the better, it will be difficult for investors to stay whenever they come into the country.”

He said Ghanaian businesses ought to adopt the German way of doing business, noting that there must be integrity, truthfulness, responsiveness, time consciousness and accountability.

Ghana as trade partner

The German Ambassador to Ghana, Mr Christoph Retzlaff, said he was not happy about Ghana’s current trade stance with Germany, adding that the country could do more.

Ghana is currently number four on the list of Germany’s trading partners in sub-Saharan Africa, after South Africa, Nigeria and Cote d’Ivoire.

“This calls for new efforts from both countries to put Ghana into its deserved place among our trading partners,” Mr Retzlaff said.

He also indicated that Germany would continue to support Ghana in development projects, as well as assist in the growth of its economy.

Since 1963, Germany has allocated more than €1.5 billion to development cooperation in Ghana.

Business culture

In a presentation, the Deputy Managing Director of Hospital Engineering, a German company operating in Ghana, Mr Johannes Bockmann, advised Ghanaian and German investors to be mindful of the culture of both countries.

He said for instance that because a German business culture was based on values such as integrity and time consciousness, a Ghanaian businessman dealing with a German investor for the first time should be time conscious in order not to lose their trust.

The Country Director of the German Development Cooperation (GIZ), Mr Alan Walsch, also called on the government to work towards ending the export of raw agricultural produce, saying it came as a loss to the country, hence the need to reverse the situation immediately.

The Special Advisor to the Minister of Business Development at the office of the President, Ms Akua Asabea Asare, assured investors that the government would ensure a conducive atmosphere for businesses to thrive.

Connect With Us : 0242202447 | 0551484843 | 0266361755 | 059 199 7513 |