US to help grow franchise brands in Ghana – Stephanie Sullivan
The United States Ambassador to Ghana, Stephanie Sullivan, has disclosed that the US sees enormous potential to grow franchise brands in Ghana.
Mrs Sullivan said the US is looking forward to working with the American Chamber of Commerce Ghana to enable the environment in Ghana for the industry to thrive. She said this at the opening of the new AmCham office and AfCFTA resource center in East legon, Accra.
“An example of this partnership was on display just last week when AmCham, together with the US Embassy, launched a new committee focused on developing the franchise industry in Ghana,” she said.
According to her, “franchising enhances community prosperity by providing ownership opportunities to small businesses, competitive wages, skills training, along with jobs and carrier growth of individuals from entry level to management.”
“It gives Ghanaians the opportunity to climb the corporate ladder, too. U.S. franchise brands are focused on ensuring their local partners are supported by world-class training and market development”, she added
“Ghana’s political stability, security, growing middle class and its new role as host to the African Continental Free Trade Area Secretariat are attracting more and more U.S. companies as they look for growth opportunities on the African continent”, she said.
Adding that, AmCham played an important role in attracting and keeping US companies in Ghana.
Mrs Sullivan again noted that, as Africa’s economy continued to develop, the opportunity is ripe for AfCFTA to deliver on its promise to expand intra-regional trade and capture new foreign direct investment.
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She hinted on the fact that, AfCFTA has the potential to be a game changer for not only doing business across the continent, but also for how the rest of the world thinks of Africa. Adding that AfCFTA could truly make Ghana the gateway for the African market and the US companies are already seeing this opportunity.
She said, with the full implementation of AfCFTA, it will represent the worlds largest free trade area, with 55 participating countries, and covering 1.2 billion people and a combined gross domestic product of $3.4 trillion.
“That’s why, with the opening of this new office, AmCham Ghana is also launching its AfCFTA Resource Centre — an effort to help US companies understand more about the implementation of the AfCFTA agreement.
“The Free Trade Area aims to significantly accelerate intra-Africa trade, using it as an engine of growth and sustainable development. Its implementation will affect US-Africa trade relations and present immense opportunities for US company trade and investment across the continent,” she said.
Mrs Sullivan said with this new Resource Center, AmCham Ghana would be there to help American companies navigate those opportunities.
“When American companies come to set up shop in Ghana, they can use this new facility as a temporary office and to conduct meetings with potential business partners and other local stakeholders.
“As the number of American companies grow in Ghana, so too does AmCham,” she added.
