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Hon. Hannah Tetteh introduces some of Ghana's major players

Interview - January 25, 2012
Minister for Trade and Industry of Ghana
HON. HANNAH TETTEH, MINISTER FOR TRADE AND INDUSTRY OF GHANA
HON. HANNAH TETTEH | MINISTER FOR TRADE AND INDUSTRY OF GHANA

We were wondering if you can make a recommendation to some major entities on our behalf: it would be very beneficial to include them in our report. For instance the Agricultural Sector (with emphasis on COCOBOD), Trade Ministry, banking, exports etc.?

In cocoa processing we have Cardinal, ADM and Bio-canopy. It is not a coincidence that the majors are over here to produce cocoa butter and cocoa liquor and the cocoa powder for export. Premium producer ADM has its factory in Kumasi but Cardinal and Bio-canopy are in Tema. So if you are interested in meeting them, they can tell you about their manufacturing processes. When we look at financial services, there is the traditional Standard Charted. But we also have Ghanaian banks, like Fidelity Bank, which is a new Ghanaian bank about four years old now. But having been growing significantly over the period. We also have UT Financial Services, started about 12 years ago. And it transformed from Financial Service, Savings and Loans and now to a bank. Prince Kofi Amoabeng is the Managing Director.

With the fast moving consuming base our market is dominated by multinationals.  We have Unilever, PZ etc. they do a lot of manufacturing in Ghana. If you take a close look at our TV channels, half of the advertisements come from these companies. There is on company which is Danish-Ghanaian joint venture called ZEPTO and they deal in TVs (flat screens and LCD etc.) We also have RLG which is an indigenous company who deals in computers and laptops.

In the export sector, we have a lot of fresh fruit exporters. Some are into prepared fruits and package them for the supermarket. Located at Nsawam of the outskirt of Accra is one of the companies who also produce for export to the new markets.

Speaking of export, which organizations are responsible for this?

The Ghana Export Promotion Council (GEPC) which is an agency of the Ministry of Trade. We also have Ghana Free Zones Company. The GEPC are responsible for promoting Ghana outside for investment opportunities that may exist out there in the world. Recently, we have for the oil sector Ghana Petroleum Co-operation (GNPC). And we have setup for gas development the Ghana Gas Company (GNGC). We thought that it was necessary to separate so the GNPC will focus on petroleum and GNGC will focus on gas. The chairman for GNGC is one of the longest serving directors of finance, Dr. Kwasi Botwe. Dr. Yankey is the Chief Executive of GNGC, who is posed to make sure the gas sector takes off. These two are working very hard to ensure that this sector is a success.

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