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| Ghana Attracts Canadian Investors |
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| Date: 01-Jul-2010 |
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Ghana is quickly emerging as one of the top 15 destinations worldwide for Canadian direct investments, having surpassed Nigeria to become the second largest export market for sub-Saharan Africa.
The development has been attributed to Ghana’s stability and maturity in terms of democratic governance, which is shared by Canada and continues to attract Canadian interest, especially in the area of business.
Today, Ghana and Canada celebrate another year of excellence in freedom, democracy, human rights and the rule of law as the two nations mark their Republic Day. July 1 is a symbolic reminder to the two nations that they share the same values towards good governance and development in today’s challenging and evolving world.
A statement by the Canadian High Commission in Ghana observed that the two nations are reminded on this day to persist in the maintenance of excellent relations in a wide array of sectors. Despite the global economic crisis that hit several of the world’s economic powers, Ghana and Canada are doing better than most countries.
The statement said, “Canada’s economic health is good news for Ghana. Canadian capital markets are the main global source of financing for the mining and energy sectors, so the quick turnaround means capital will become available again for investment in these key sectors of Ghana’s economy”.
It further noted that Canada, as a country that shifted focus from natural resources to a full-spectrum value-added economy, has many lessons that could be relevant to Ghanaian policymakers and business people. “Canada’s push to maintain an open market is also welcomed and along with many other like-minded countries has kept global trade flowing throughout the recession.”
Through the Canadian International Development Agency (CIDA), Canada’s development programmes in Ghana continue to support development ventures with a focus on the three poorest regions – Upper East, Upper West and Northern Regions.
CIDA has a long history of supporting many sectors in Ghana including agriculture, water supply, education, health and energy, evidence of which can be seen throughout the country. “Ghana is a core recipient of Canadian development assistance and is a CIDA country with annual bilateral disbursements of over $90 million for year 2010 and 2011.”
Canada hosted the G8 and G20 summit meetings in June this year and has reaffirmed its commitment to sustain growth to reduce poverty in Africa. A major theme of the G8 Summit was a commitment to accelerate progress towards the Millennium Development Goals (MDGs) of reducing child and maternal mortality.
CIDA has launched a Paediatric Nursing program in Ghana which is aimed at bringing Toronto's Hospital for Sick Children, University of Ghana School of Nursing and Korle Bu Teaching Hospital together.
More people are travelling between the two countries and there are about 80,000 Canadians of Ghanaian origin and about 3000 Canadians in Ghana. The people-to-people connections between the two countries would remain strong for as long as young Canadians volunteer their time in Ghana.
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| Source: Daliy Guide |
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