The Ghana Investment Promotion Centre (GIPC) has been awarded the Best Investment Promotion Agency in West and Central Africa by the annual investment meeting (AIM) investment awards 2020.
GIPC earned the top position as the winner from West and Central Africa for the Project- PE Power Limited.
The award according to GIPC is an endorsement for the diligent and notable efforts by the government to establish a conducive business environment comparable to none on the continent.
“This is a clear indication that we are on the right path to establishing Ghana as the preferred destination for foreign direct investments (FDIs), critical to the realization of a Ghana Beyond Aid,” Yofi Grant chief executive officer, GIPC, said.
The project, P.E Power Ltd – a project within the energy sector was registered in 2019 as a joint venture between Americans, British, Israeli, and Mauritanian investors valued at US$ 551 million. It is the operations and maintenance company for the Amandi Energy Limited power plant, located at Aboadze in the Western Region.
Besides the sizeable value of the investment, the P.E Power project will create some 67 direct jobs and several indirect jobs when fully operational. Its therefore not surprising, the project emerged as a top scorer among the several projects submitted by other investment promotion agencies (IPAs).
According to Yofi Grant, this award will serve as further encouragement for the GIPC to work relentlessly at making Ghana a destination of choice for investments in Africa.
He said: “Although the recent months have been one of great economic turmoil globally due to the COVID-19 pandemic, Ghana has demonstrated excellent leadership in managing the crisis and the GIPC continues to assure the investor community that our economy will remerge much more resilient when the dust settles post the pandemic.”
The award comes on the back of the GIPC’s sterling half-year performance, where a total of US$785.62 million was recorded as foreign direct investments (FDIs) into Ghana between January and June 2020 despite the economic challenges posed by the coronavirus pandemic.
The annual investment meeting (AIM), an initiative from the UAE Ministry of Economy of the United Arab Emirates, is the world’s leading investment-focused event aimed at enriching institutional, corporate and individual investors with relevant information for future investment decisions in high growth regions.
This year’s event was under the theme “Reimagining Economies: The Move Towards a Digital, Sustainable and Resilient Future,” and it came off from the 20-22 October 2020.
It was the very first digital edition of the annual investment meeting, featuring the use of virtual technology to generate, showcase, and facilitate the most attractive and secure investment projects and opportunities for investors from different parts of the world.
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