GIPC, UNDP discuss private equity as source of finance for agric, manufacturing sectors
The Ghana Investment Promotion Centre (GIPC) has partnered with the United Nations Development Program (UNDP) to organise the second edition of their series of Sustainable Development Goals(S.D.G) Investor Map Breakfast meetings.
The high-level event, which was a build-up on the hugely successful first edition, created another opportunity for stakeholders to delve deeper into private equity, as a source of investment for businesses in Ghana, particularly, those in the agriculture and industry sectors.
Through an informative session, the event spearheaded a discourse on SDG Investor map utilisation and identification of opportunities in agriculture and manufacturing.
The SDG Investor Map which was initiated by the UNDP was introduced earlier this year to help steer capital into inclusive and sustainable investments in key economic sectors.
According to the CEO of GIPC, Mr Yofi Grant, it is estimated that agriculture employs about 50% of Ghanaians along the value chain across it production, distribution, marketing and consumption.
“The SDG Road map tells you exactly where the fertile lands and yields are and where the market is. For us in Ghana, it is a clear path of enabling us market these opportunities more constructively and also a very important information for those in agriculture and industry,” he said.
The Map provides market intelligence for private sector investors in the agriculture and manufacturing sector, to channel finance towards development needs.
The UNDP Deputy Resident Representative in Ghana, Sukhrob Khoshmukhamedov, stressed on the importance of agriculture to the growth of the Ghanaian economy and in view of that congratulated the efforts of all farmers and fisherfolks for their tireless effort to provide food for the country.
“Agriculture plays a pivotal role in the Ghanaian economy by employing about 60% of the country’s total labor force but unfortunately contributes about 20% to the country’s GDP. This shows the state of the sector and the magnitude of the numbers,” he remarked.
He also noted that the SDG Investor Map highlights the enormous potential and investment opportunity areas in the agriculture and manufacturing sectors that would contribute to the recovery and resilience of these sectors.
The agribusiness tracker, a survey initiated by UNDP in partnership with the Ghana Statistical Service and GIZ, to assess the effects of the pandemic on agribusiness indicated that COVID-19 had a severe impact on agribusinesses in Ghana.
Major stakeholders in the agriculture sector were present to help the discourse including the 2018 National Best Farmer who enlightened the audience on the importance of venturing into agricultural related activities with it vast opportunities.
The Ministry of Trade and Finance were also present to show policies and steps the government was taking to help the development of the agriculture and manufacturing sectors.
The SDG Investor Map is currently identifying specific investment opportunities at the local levels with 6 Metropolitan, Municipal, District Assemblies which are Kumasi Metropolitan Assembly, Ketu South Municipal Assembly, Sefwi Wiawso Municipal Assembly, Jomoro Municipal Assembly, Sagnarigu District Assembly and Kassena – Nankana West District Assembly.
For Ghana, the SDG Investor Map provides information on 12 Investment Opportunity Areas (IOAs) across 5 priority sectors namely, Agriculture, Infrastructure, Technology & Communications, Healthcare and Consumer Goods.
UNDP and GIPC are in partnership to take forward the investment intelligence gathered to all relevant stakeholders to shape the policy and business environment and to further attract investment to impact lives and help achieve the Sustainable Development Goals (SDGs).