Qatari investors eye opportunities in economy

Qatari investors are interested in exploring investment opportunities in Ghana’s energy, mining, transportation and agriculture sectors.

This was made known during a six-day trade and investment mission at Doha in Qatar to explore business opportunities for both countries.

The mission was spearheaded by the World Trade Centre Accra, in collaboration with International Chamber of Commerce Ghana (ICC Ghana), the Qatar Chamber of Commerce, Ghana Investment Promotion Centre and the Middle East Bureau of the Ministry of Foreign Affairs and Regional Integration.

The purpose of the mission was to introduce both Ghanaian and Qatari firms to their common markets and prospective partners in the areas of agriculture, aviation, fishing, oil and gas, hydro carbons, energy, real estate, construction and infrastructure.

The engagement strengthened collaboration between the two countries to reconsider business opportunities for trade and investment.

Paramount Chief of Asogli Traditional Area, Togbe Afede XIV -- also Board Chairman of the Centre and who led the Ghanaian delegation -- said Ghana has high hopes from Qatar to monetise its recent oil discovery.

He said, “After making a major oil discovery in 2007, Ghana began production of crude oil in 2010. We seek the expertise of Qatar in the commercialisation of our oil wealth.

“Qatar has developed its oil and gas, and is now the world's leading gas exporter. As Ghana has huge reserves of oil and gas, we believe that the experience of Qatar could be useful to us,” he said.

Togbe Afede, who is also the chairman of WTC Accra, said investment in gold can be very lucrative as the yellow metal has replaced cocoa as Ghana's primary export. Ghana needs to open more gold refineries to increase its export. "This is the area where Qatari investors can play a big role,” he said.

Citing the availability of vast tracts of fertile land, he urged Qatari investors to help Ghana modernise its agriculture sector and make use of it to ensure Qatar’s food security.

He also welcomed Qatari investment in Ghana's real estate sector, which he said is booming in view of oil reserves discovered in the country.

Ghanaian companies made presentations on their field of disciplines, to introduce the country and other prospective business ventures existing in Ghana to the Qatar business community.

Twenty-three companies participated in the mission: including Best Charcoal Africa Limited, Akyianu and Associates, Ntrakwa and Associates, Cardinal Law, Comet Properties Ghana Limited, Strategic Africa Initiative, Equity Health Care, Great Argon Group, Toprope Ghana Limited, and Helisel Aviation.

Togbe Afede XIV, said the centre -- owned by Strategic Initiatives Limited -- acquired the licence to operate from the World Trade Centres Association (WTCA) in New York, to operate in Accra, Ghana.

He said, WTCA Accra is a member of the prestigious WTCA, whose membership includes more than 300 World Trade Centres operating in 100 countries, a global network that provides business people services and facilities for easy and faster international trade.

“Through the WTCA, WTC Accra becomes a local link to all other World Trade Centres with a unique concept of reciprocity -- making membership in WTC Accra an entry into the international business community,” he added.

He emphasised that the centre aims to bring together businesses and government agencies involved in international trade, to provide essential trade services and stimulate the country’s economy.

Togbe Afede said the centre has organised successful trade missions to Brazil, the United States of America and Italy to enable Ghanaian companies exhibit their products for business opportunities and investments.

Qatar Chamber Vice-Chairman, Mohammed bin Ahmed bin Tawar al Kuwari, said Qatari businessmen are looking for investments in Ghana's mineral resources. Ghana's reserves of bauxite could feed Qatar's aluminium industry, he said.

Qatar Chamber Vice-Chairman Mohammed bin Ahmed bin Tawar al Kuwari said Qatari businessmen are looking for investment in Ghana's mineral resources. Ghana’s reserves of bauxite could feed Qatar's aluminium industry, he said.

Qatari companies present at a business forum organised for the delegation include Doha Bank, Qatar National Bank, Rosser International, Vibrant Group, NASCO, Qatar Company for Meat & Livestock Trading, DESCON, Qatar General Insurance & Reinsurance, ABR Global Energy, and WTC-Doha.

  

Mr. Emmanuel Doni-Kwame, Managing Director of World Trade Centre Accra and Secretary General ICC Ghana, making a presentation on Ghana invited Qatari businessmen to explore opportunities in the areas of tourism, agriculture, aviation and energy among others for the mutual benefit of both countries.

“WTC Accra believes organising this trade and investment mission after the visit of President John Mahama to Qatar, and the Qatar Investment Authority to Ghana, will help kick-start the business relationship between the private sectors of both countries, and strengthen and promote trade and investment between them” he said.