GIPC to attract investors by profiling and marketing defunct factories

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Ghana Investment Promotion Centre

The Ghana Investment Promotion Centre (GIPC) will profile and market all defunct factories in the Upper East Region to attract investors to boost the local economy and propel development.

Ghana Investment Promotion CentreThere are four defunct factories in the Region, the Pwalugu Tomato Processing factory, the Cotton Company both in the Talensi District, the Zuarungu Meat Processing and the Rice Mill Factories in the Bolgatanga East District.

Dr George Asafo-Agyei, the Head of Monitoring and Evaluation Division at the GIPC told journalists after a sensitisation workshop for entrepreneurs and business owners in Bolgatanga, that apart from the defunct factories, mining, shea-butter processing and tourism among others were investment opportunities the GIPC had identified in the Region.

He said the GIPC would profile all defunct factories in the region, and market them to attract investor interest to boost the economy of the region and country.

The workshop, organised by the GIPC was part of a nationwide sensitization tour to create awareness about the GIPC’s services, and to enable the Centre identify investment opportunities for promotion to boost development in the regions through the private sector.

Dr Asafo-Agyei called on business owners in the Region to register their businesses as limited liability private companies so that persons who may want to go into partnership with them would have the opportunity to understand their business structure and effectively partner with them.

“If you really want to have a profit-making organisation, then it depends on you to make sure that you register your business because anyone who wants to partner with you would want to know the ownership structure of the business,” he advised.

Mr Stephen Yakubu, the Upper East Regional Minister, in a speech delivered on his behalf, disclosed that the Region had received some proposals from potential investors to revamp the defunct factories.

He assured the GIPC that the Region was ready to support any potential investor, saying “We are ever ready to support initiatives which undoubtedly minimize if not eradicate abject poverty through job creation.”

Mr Yakubu said the region was endowed with human and natural resources such as gold, rocks, water bodies and tourist sites including the Paga Crocodile Pond, the Pikworo Slave Camp among others.

A participant, Madam Sherry-Ann Kuuri-Naa, a Weaver, told journalists after the programme that the workshop was timely, and the advice by Dr Asafo-Agyei to them to register their businesses would help them to effectively grow their businesses.

“Our businesses have not been registered; we did not have knowledge about any registration. We only produce the products, and the middlemen buy from us and sell, so mostly, we run at a loss. We now know the importance of registering our businesses and how to sell directly to the consumer without middlemen,” she said.

The Weaver said they had the skill but without capital and being able to deal directly with consumers could help their businesses to grow, “The consumer has the money, but we have the skills so if they invest in us directly, we will both benefit.”

By Godfred A. Polkuu, GNA

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