Archive for April, 2008

Focus Kumasi

The Bamboo Bike Project was included in the Ghana investors’ guide that the Millennium Cities Initiative just published.  Check it out here.

Here’s the press release from Karl Sauvant, the Co-Director of the Millennium Cities Initiative, and Executive Director of Columbia Program on International Investment:

We are pleased to announce the release of Invest in Ghana: Focus Kumasi. This investors’ Guide can be downloaded from the Millennium Cities Initiative website (http://www.earth.columbia.edu/mci) or the Columbia Program on International Investment website (http://www.cpii.columbia.edu/cpii_new_pubs.php). It was launched in Kumasi on April 18, 2008.

The Guide, the first city investment guide in West Africa, was prepared by the Millennium Cities Initiative (MCI) in cooperation with the Columbia Program on International Investment (CPII) and the United Nations Conference on Trade and Development (UNCTAD), with the support of the United Nations Industrial Development Organization (UNIDO) and the Ghana Investment Promotion Centre (GIPC). The Corporate Council on Africa (CCA) and the European Business Council for Africa and the Mediterranean (EBCAM) have lent their support to this effort.

To explore further the investment opportunities identified by KPMG and UNIDO, as well as by this Guide, a special Kumasi Investment Day took place in Kumasi, Ghana, on April 18, 2008, organized by the Kumasi Metropolitan Authority, MCI and CPII.  About 100 representatives of local and foreign businesses participated in the event. 

Kumasi is Ghana’s second largest city and capital of the Ashanti region.  It is an important commercial center. Its location, climate and safety, combined with Ghana’s increasing access to foreign markets, make Kumasi attractive to investment in a number of areas. One sector of great potential discussed in the Guide is in the area of cocoa and its processing.  Another concrete opportunity is the production of fruit juice made from different fruit growing in the region.  Furthermore, opportunities were identified in the hotel sector and in retail.  The production of pharmaceuticals has also great potential.  Other areas with potential for investment include agriculture and agro-processing as well as manufacturing.  The Guide outlines these opportunities, as well as relevant matters such as tax and regulatory conditions in Ghana.  


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