A high-powered business delegation representing Ghana – led by the High Commissioner to Canada, E. Ayikoi Otoo, and CEO of the Ghana Investment Promotion Centre, Yofi Grant – rang the closing bell on the US$2.2trillion Toronto Stock Exchange (TSX) on Tuesday, October 17, 2017.
Other members of the delegation included President of the Canada Ghana Chamber of Commerce Frederick Attakumah, and senior officials of the Ghana Export Promotion Authority, Ghana Free Zones Board, National Communications Authority, as well as leading Ghanaian business leaders.
The TSX, which raises nearly 60% of total global capital investment in the mining, energy and natural resources sector of over US$5trillion, invited leading Ghanaian companies to consider cross-listing on the exchange.
Officials of the Exchange expressed support for Ghana’s industrialisation efforts and the ‘One District – One Factory’ initiative, as well as the move to a Free Secondary School system to provide the necessary human capital base to industrialise Ghana.
The Ghana reception at the Toronto Stock Exchange, and a week-long investment promotion visit to Canada, was ably organised by the Accra-based Canada Ghana Chamber of Commerce (CanCham), which has almost 100 corporate members.
It was in collaboration with the very influential Toronto-based Canada-Africa Chamber of Business, which has as its members some of the largest global companies listed on the Toronto Stock Exchange and leading captains of industry in Canada.
Commenting on the investment promotion effort, Mr. Attakumah stated that other than mining sector investments in Ghana, Canada remains a largely untapped source of capital for developing other sectors of the Ghanaian economy – including renewable energy, an integrated aluminium industry and agrobusiness.
In view of this, he stated that the Canada Ghana Chamber of Commerce was committed to working with the private sectors of both countries in attracting the needed investments to Ghana.
Assisting Mr. Otoo, Mr. Grant and Mr. Attakumah to ring the closing bell were other council members of the Canada Ghana Chamber of Commerce and Mr. Sebastian Spio-Garbrah, Managing Director of the Toronto headquartered global risk advisory boutique DaMina Advisors, who is also a director of the Canada-Africa Chamber of Business.
Both Chambers have agreed to jointly facilitate Ghana-Canada Trade and Investment promotion in the years ahead. Over a dozen companies from Ghana seeking investors from Canada attended the TSX event.