Ghana needs private investors to realize development potential

The Head of the European Union (EU) delegation, Ambassador Diana Acconcia has touted Ghana’s development potential in various sectors of the economy.

In her view, most Ghanaians, especially those pursuing entrepreneurship are “enterprising”.

Speaking to Nana Romeo on Accra100.5FM’s mid-morning show, ‘Ayekoo Ayekoo’ on Thursday, 1 July 2021, she described Ghana as “a very dynamic country”.

“A lot of things are happening. It’s a country with very good prospects for developing for the future. It’s a country with a lot of potential. I have seen lots of the entrepreneurial people,” she said.

She however noted some challenges that threaten to slow the country’s development.

According to her, lack of adequate infrastructure, high cost of electricity and the tight fiscal situation of the economy that prevents the government from investing, are some of Ghana’s challenges.

“This can be remedied with a lot of private investment coming into the country.

“The country needs private capital to come here and invest in industrial development and infrastructure,” she added.

She also pointed out some environmental challenges.

“Certainly, Ghana faces challenges in environmental degradation. Plastic waste is everywhere. Deforestation has already made a lot of damage. The marine life is also endangered so Ghana needs to take care of the environment,” she indicated.

She further indicated the willingness of development partners such as the European Union to help Ghana solve the environmental problem.