Kumasi: The European Union Ambassador to Ghana, Rune Skinnnebach, has called on Ghana to leverage the £150 billion EU Global Gateway Investment Package for Africa to enhance its development and economic growth. Speaking at a Career Services Centre program at Kwame Nkrumah University of Science and Technology, he emphasized the importance of political and macroeconomic stability to attract investment.
According to Ghana Web, Ambassador Skinnnebach highlighted the potential risks posed by instability in the Sahel and neighboring regions to Ghana's peace and security. Despite Ghana's stable democratic environment, he noted that sustaining investor confidence hinges on the country's commitment to economic reforms, good governance, and peaceful electoral processes.
He assured attendees that the European Union is committed to supporting Ghana in its democratic and developmental pursuits. The ambassador stressed the importance of empowering citizens to hold leaders accountable and advocated for Ghana to utilize the EU's Global Gateway Investment Package to secure additional development financing.
The ambassador pointed out that since 2022, the EU's Global Gateway Investment Package provides a significant opportunity for Africa, combining traditional development funds with support from international financial institutions and private sector investments. He reiterated the EU's position as Ghana's largest investor, export destination, and development partner, urging improvements in infrastructure, legal systems, and the business climate to attract more European investments.
He warned that if Ghana fails to remain competitive, investors might look towards other countries in the region, underscoring the need for a stable and attractive environment for investment.