The Asantehene, Otumfuo Osei Tutu II, has urged the global investor community to turn their attention to the country's interior.
"It is about time you moved away from the coastal breeze to smell the coffee and cocoa, where they are grown, and engage with the men and women who till the land and extract the wealth out of the depths of our soil.," he said at the World Meets in Ghana Investors’ Forum and Executive Dinner Ball in Kumasi last Friday.
The forum, which was one of the principal events commemorating the 20th anniversary of the enstoolment of the Asantehene, was aimed at attracting investment to Asanteman and beyond.
Otumfuo Osei Tutu said it was refreshing to see an array of distinguished people from many friendly countries, including the two leading economies of the world, the United States and China, participate in the forum.
The E ON 3 Group, headed by a young Ghanaian entrepreneur, Mr Richard Ofori Atta, affectionately known in business circles as ‘Tom, Tom’, and the Manhyia Palace, the official seat of the Asantehene, organised the two-day event with support from the Ministry of Finance, the Ghana Investment Promotions Centre and other partner agencies.
Government efforts
Otumfuo Osei Tutu stated that over the years, the government had engaged with the international business and investment community to showcase the country’s potential as an investment destination.
"Our government has been constantly on the move in many of the world capitals and has spared no effort in receiving economic and investment missions at home, but this is the first time such a forum has been held outside the nation’s capital," the Asantehene said.
He said in the course of the anniversary, the Manhyia Palace “had engaged with our up and coming young professionals and executives.”
“We have also engaged with our established business leaders from all fields. Our aim has been to inspire them to greater enterprise and greater endeavour.”
Ghana Beyond Aid
The Asantehene said he had felt the need to encourage Ghana to seek a large dose of the national consensus on the direction of the national economy to minimise the risks associated with extreme policy swings.
“It may seem hugely optimistic but nonetheless we remain truly hopeful that the great majority of Ghanaians will welcome a conscious effort to protect the economy from the vagaries of partisan political conflict,” the Asantehene stated.
In that vein, he welcomed the President’s vision for Ghana Beyond Aid, saying, “It is not a vision for the faint-hearted. It is bold. It is brave.
But it is a vision that deserves support, not only from Ghanaians but from all her friends across the world.”
Otumfuo Osei Tutu, however, sounded a word of caution on the vision.
“ In order to appreciate the true measure and the essence of that vision, we must consider our circumstance and consider where we are coming from.
Our 60-year history as an independent sovereign nation is plastered with painful scars of the consequences of our failure to manage our resources with prudence and integrity. “
“We bear the scars of armed intervention, and we bear the scars of HIPC, a humbling acknowledgement of the depths of failure.
It is only a decade and a half since we surrendered to the seeming indignity of a heavily indebted poor country.
Might we be on the brink of an economic miracle to find suddenly weaned from aid and so-called donor support in a Ghana Beyond Aid? There must be many well-meaning Ghanaians who worry whether we may not be biting more than we can chew,” he added.
He told the gathering that in bringing them to Kumasi, “we seek first to assure the international business and investment community that Ghana Beyond Aid is a Policy Beyond Political Conflict and the world can buy into it without fear of uncertain political risks.
The Asantehene said agriculture also presented incalculable possibilities.