The US state agency —the Oversees Private Investment Corporation (OPIC), has dispel rumours that American investments in Ghana will be cut due to the foreign policies of the Trump administration.
OPIC, which has increased its investment in Africa from one billion dollars to seven billion over 15 years, has also advanced loans to many Ghanaian businesses, including Ghana Home Loans which has benefited to the tune of 60 million dollars.
Speaking at a tour of Appolonia City in Accra, the Executive Vice President of OPIC, David Bohigian assured that the Trump administration is rather keen on expanding trade and investment with Ghana.
“I’m proud to say that OPIC’s investment in Africa for the past 15 years has moved from one billion dollars to over seven billion dollars and that represents a quarter of OPIC’s overall portfolio,”.
Bohigian disclosed that “the Trump administration intends to build upon those successes”.
He stated that there are plans underway to increase investment and trade to African countries such as Ghana.
“Late last year, I represented OPIC at the president’s council on doing business in Africa. I can tell you Secretary Ross as well as several other Trump administration senior officials are committed to continuing to open paths to doing more business through trade and investment with Africa”.
He added that “at OPIC we intend to continue to build on the successes to power Africa, as more US investors continue to see the opportunities in Africa and Ghana,we will increase our portfolio”.
On his part, the , the CEO of Appolonia City Bright Owusu-Amofah was optimistic Ghana will be able to reduce its housing deficit if the economic environment is improved to provide affordable housing.
The OPIC is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets.
Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad.
OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity investment fund managers.
Source: Citi Business News