We Need More Than Lands – Foreign Investors To Locals

Foreign investors are asking prospective local partners to bring more to the table if they are to be taken seriously in joint ventures.

Many foreign investors are lamenting the practice where Ghanaians tend to offer parcels of land as their share of capital when entering partnerships.

This could derail efforts by government to get local businesses to forge strategic partnerships to propel economic growth.

The Ambassador of Mexico to Ghana, Maria de los Angeles Arriola Aguirre told Starr Business that, investment is huge risk and the risk must be seen to be fairly shared between locals and foreigners.

“People that come and invest, they are risking, so they want to share this risk with our stakeholders here so they need to have local partners. But our call to business people in Ghana is, don’t wait and expect only that foreign investors come to Ghana and they give you everything just for offering them land.

“You have to also form part of the business opportunity but also of the risk; and that means that if I am putting in money; I am bringing my industry into your country, you have to as well put in money and share with me the risk,” she said at the Ghana International Trade and Financial Conference in Accra.

Her position is corroborated by the Ambassador of Egypt to Ghana, Mohammed Heider. He believes if Ghanaians invest their monies alongside the provision of land, they are more confident, local partners will go all length to ensure the success of the business and not leave all the stress on investors.

“The contribution from the Ghanaian business partners should be more (more meaning their shares should be more in these kind of projects); this is a better security and it is a better assurance for its success.”

Technical Advisor at the senior minister’s office, Robert Poku Kyei told Starr Business that genuinely some Ghanaians may not have enough money to invest in addition to lands, but can form local partnerships to support foreign investors.