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Indian businesses looking for opportunities in Gha

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  18 April 2015 12:00 AM GMT

Accra (Gha), April 17: A 20-member Indian business delegation is currently on a visit to Gha to explore business opportunities in this West African tion. The delegation has been brought by Gha’s High Commissioner to India, Sam Pee-Yalley. Indian High Commissioner in Accra, Jeeva Sagar, asked the businessmen “to take Gha seriously because the country is a friend of India”. One of the delegates, Farsu Contractor, who is representing KCP, a heavy engineering company with interests in sugar, power and cement, said his company, which already has operations in Ethiopia and Senegal, was planning to enter Gha.

Contractor said the interest in Africa for KCP was because “the next century is for Africa which has so much potential and the continent cannot be ignored”. Indicating that the company was looking at investing in the sugar industry in Gha, he said, “KCP has been a pioneer in developing the sugar industry in Vietm since 1990s as a supplier of sugar machinery to plants in Vietm.

“On the invitation of the Vietm Government to develop sugar cane in rural areas, a 2,500 tcd sugar plant was commissioned by KCP Vietm Industries Limited, a sugar manufacturing subsidiary established in Vietm in 1999. Since then, it has expanded its capacity to 6000 tcd,” he said.

Girish Raipuria, founder director of Shrikaam Fincom Consulting of Mumbai, said he held discussions for the establishment of a commodity, spot market and a derivative exchange in Gha.

“In addition, we plan to set up an institute for fincial markets training to build the capacity of Ghaians.” Raipuria said his company would have to raise about $30 million to help fince the projects they have planned to put together in Gha. “This will be done with some intertiol fince groups in order bring our dreams to help in the development of Gha into fruition,” he added.

According to the Gha high commission in New Delhi, the delegation’s visit is part of the country’s Economic Diplomacy programme. “The relationship that former prime minister Jawaharlal Nehru started with Gha’s late president Kwame Nkrumah should not be allowed to die. Those of us old now must build on that relationship for the benefit of our people,” High Commissioner Pee-Yalley said at a reception for the delegation organised by the Indian High Commission. “India has what Gha needs, and in like manner, we need what India has,” he said. (IANS)

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