More American Firms Aim Ghana

Ghana continues to remain a haven for investors, as more American businesses are considering setting up full-fledged operations in this country, BUSINESS GUIDE has been told. Among them are Merrill Lynch, one of the world’s leading financial management and advisory companies providing financial advice and investment banking services, and Accenture, a global management consulting, technology services and outsourcing company. Other big firms such as IBM, a multinational computer, technology and IT consulting corporation headquartered in New York, General Electrical, also an American multinational conglomerate corporation incorporated in the state of New York and Dupont, a science-based products and services company, have set up offices in the country. Simon Madjie, Executive Secretary of the American Chamber of Commerce and Industry, revealed to BUSINESS GUIDE that the aforementioned firms are undertaking exploratory studies before running their businesses on a big scale. For example, on Monday June 21, United Airlines, one of the high-profile US Airlines, started operating in Ghana. Not only would these companies generate employment but would also contribute taxes and royalties, depending on their area of operations. Fifty-six wholly-owned American businesses have so far registered with the American Chamber of Commerce, an affiliate of the US Chamber of Commerce. They include huge firms such as Newmont Gold Ghana Limited, which operates the Kenyasi Mine and about-to-start Akyem Mine, Cargill Ghana and the world’s leading beverage manufacturer Coca Cola. Others are postal firm FedEx, United Parcel Services, Golden Stars Resources, a mining giant that operates the Prestea and Bogoso mines and oil companies Kosmos Energy and Anardako. In an interview, Mr. Madjie noted that his outfit was set to conduct studies to find out the impact of American businesses in Ghana. The theme for the research project would be: “American Private Sector Impact in Ghana’. “We would conduct a research to find out the sort of impact in terms of employees, taxation and the way forward. We are also looking at what we have done in the last couple of years,” said Mr. Madjie. According to him, this would help the chamber to lay a foundation for advocacy of suitable business environment. Mr Madjie pointed out that there was the need to deepen advocacy to make businesses, both locally and internationally, more viable. “We want to harness the potential of American businesses in Ghana to contribute significantly to the Ghanaian economy.” It is estimated that US businesses contribute significantly to the Gross Domestic Product (GDP) of the country, especially Newmont Ghana and Golden Star Resources.