The German government through its Embassy in Ghana has initiated a policy framework to support Ghana’s sustainable economic development drive by working with its partners to attract a greater proportion of German companies to invest in the country.
This follows the success chalked during the recent edition of the German African Business Summit (GABS) held in Accra in February this year which attracted more than 650 decision makers from the public policy and business communities to discuss and promote economic relations between Germany and the Sub-Saharan African region.
“It [GABS], was a huge success and we are looking forward to more German companies investing here in Ghana”, the German Ambassador to Ghana, Mr. Christoph Retzlaff said during the launch of the 2019 Job Fair which opened at the Trade Fair centre in Accra last Wednesday.
The German’s embassy’s partners in Ghana include Germany’s Federal Ministry for Economic Cooperation and Development (BMZ), the German Development Cooperation (GIZ), German Chamber for Industry and Commerce together with the Ghanaian Ministry of Employment and Labour Relations (MELR).
Through the bilateral economic relations that exist between the two countries, Germany has been investing in two major areas that promote economic development: industrial production in order to create substantial jobs for the youth and vocational training.
Reports gathered indicate that majority of German companies have reiterated their commitment to invest not only in these priority areas, but other important sectors of the economy as well.
Recently, three German companies including automobile giant, Volkswagen signed Memoranda of Understanding (MoU) with Ghana to invest in three major economic transforming projects in the areas of energy, health and automobiles respectively which are all geared towards supporting Ghana’s economic sustainable drive.
2019 Job Fair
It is estimated that over 60 percent of Ghana’s population are younger than 25 years. This is said to represent a huge potential for development, but also poses significant challenges with regards to job creation.
Germany has been assisting Ghana in putting economic development and job creation at the centre of government activities. It is as a result contributing to lowering unemployment and matching employers demands with the required skills in a move to complement government’s strategies effort in reducing unemployment among the youth which makes the event an important one.