GFZA CEO, Ambassador Michael Oquaye Jr. and Deputy, Kate Abbeo
The Chief Executive Officer of the Ghana Free Zones Authority (GFZA), Ambassador Michael Oquaye Jr, says the Authority’s licensed companies in the cocoa value chain have invested more than $100 million in the economy, and contributed over $3 billion in exports since inception.
The companies, he said, include Barry Callebaut, Cargill Ghana Limited, Chocomac Ghana Limited and Cocoa Processing Company Limited. Others include FairAfric, Niche Cocoa and Cocoa Touton Processing Company Limited.
According to him, as Ghana celebrates National Chocolate Week, it is necessary to highlight the unique contribution of some Ghana Free Zones Licensed companies operating within the cocoa value chain.
Ambassador Oquaye Jr made the disclosure after the Deputy CEO, Kate Abbeo, joined him to mark the Chocolate Day, and also took time to enjoy the sweet taste of Ghana’s rich cocoa products.
Sharing his view on the week-long activity, Ambassador Oquaye Jr. touched on job creation as one of the critical measures of success for the activities of the Ghana Free Zones Authority.
“We remain ready to provide the needed support for investors willing to invest in the manufacturing sector as it remains key to Ghana’s industrialization and job creation agenda,” he said.
Ghanaian dream
In another development, Ambassador Oquaye, who believes that the business of Ghana must be driven and led by Ghanaians, has commenced interaction with the President and Members of the East Legon Executive Business and Fitness Club, as part of the GFZA’s drive to consolidate and grow local interest and participation in the Free Zones Scheme. It is also to encourage businesses to take advantage of the Africa Continental Free Trade Area (AfCFTA).
He led the informal business interaction team to discuss the need for Ghanaian investors and entrepreneurs to take advantage of the scheme, in line with the Authority’s vision to assist Ghanaian businesses to “Achieve More exports, Beyond the Horizon – into Africa and the Rest of the World”.
The team informed the group that, contrary to the perception that the Free Zones Scheme is an area fully dominated by foreign companies, available figures show that 31 percent of businesses are wholly owned by Ghanaians, 33 percent jointly owned by Ghanaian and foreign interest, and 36 percent wholly foreign owned.
“More Ghanaians must get on board to create more wealth and jobs locally, in line with the vision of ‘Ghana Beyond Aid’ as espoused by President Akufo-Addo,” he added.
Members of the club also took turns to ask questions related to securing licences, challenges with exports into West Africa, the need for government to support businesses to penetrate other countries, among others.
The “Ghanaian Entrepreneurs for Export” drive is a roadshow that will see the leadership of the GFZA personalising its interaction with potential investors, associations and business groupings.
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