Kumasi Launches Website to Promote Investment

Komfo AnokyeThe city of Kumasi, Ghana, became the first Millennium City to launch an investment promotion Website this week, InvestinKumasi.com. The site reflects the city government’s ongoing commitment to fostering a pro-business environment in Kumasi, a growing city of over two million people. With descriptions of investment opportunities and a step-by-step guide to establishing a new venture, the site signals to the world that Kumasi is open for business.

The Kumasi City Investment Promotion Unit (KCIPU), a division of the Kumasi Metropolitan Assembly (KMA), developed the site with support from the Regional Partnership to Promote Trade and Investment in sub-Saharan Africa, funded by the Government of Finland and implemented by the Millennium Cities Initiative of the Earth Institute.

“The Earth Institute hopes that the new Website will increase public knowledge of the many advantages Kumasi offers investors and thereby strengthen its reputation as a major commercial and transportation hub, not only in Ghana, but in West Africa,” said Jeffrey Sachs, Director of the Earth Institute.
Kumasi’s mayor, the Honorable Samuel Sarpong, said he was delighted with the site, adding,

“In this age, where various regions, countries and cities are intensely competing to attract investment, we cannot downplay the role that this Website will play in ensuring that Kumasi becomes a preferred destination for both domestic and foreign investors.”

As the capital of Ghana’s most populous region, the Ashanti Region, Kumasi provides a large skilled and semi-skilled workforce, access to abundant natural resources, and good infrastructure. In addition, the city boasts an extensive commercial market, including a regional market of nearly 12 million people, a Ghanaian market of 21 million, and a West African market of some 50 million.

At this time, concrete opportunities in agro-processing, manufacturing, real estate, and tourism exist, and established companies such as MASIG Natural Fruits Industries and Bamboo Bikes Limited seek partners. Kumasi will host an investment day in June/July 2013 to present these options in more detail. Foreign investors currently located in Ghana and local businesses will participate in this event.

 Source: Columbia.edu

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