CEO of the Ghana Investment Promotion Centre (GIPC) Mawuena Trebarh believes that foreign direct investments (FDI) can only gain ground for the long-term when investments are socially and environmentally inclined to the country.
“We want to ensure that in attracting and retaining FDI to contribute to our economic development efforts we should be mindful of the fact that these investments are made into companies, organisations and funds with the intention to generate social and environmental impact alongside financial returns,” she said.
Mrs. Trebarh said this at the launch of Ghana Club 100 Awards in Accra. This year’s Ghana Club 100 awards are under the theme ‘Impact Investments and Sustainable Economic Development”, and the GIPC boss is keen for investors to be socially responsible in their operations.
According to her, it is imperative that “both domestic and international companies know of the innovation and entrepreneurship that the Ghanaian business community is bringing to the table in supporting development.
“It is the form of socially responsible investment where a company is turning a profit while meeting the social needs in an environmentally-sustainable way that I want to encourage in our country. It combines both good corporate governance and social responsibility.
Despite the macro economic instability in the country coupled with high inflation, cedi instability, erratic power cuts and challenges that confronted businesses, she stated that it is worth celebrating them. “I think it is very important that even as we are faced with challenges, we continue taking the time to celebrate with companies that are overcoming those challenges and still supporting development.
“It would be unwise to say that because of the challenges we should not recognise the extra efforts the private sector is putting into supporting development and overcoming those challenges” she said.
The 14th edition of the Ghana Club 100 awards ceremony and publication of the GC 100 magazine is scheduled to take place at the Banquet Hall of the State House on 23rd October, 2015.
The event has been aimed mainly at introducing a system of ranking the top-100 companies in Ghana while encouraging and nurturing the private sector to develop and grow to compete internationally.
The Centre still believes that as Ghana continues to see itself as Africa’s golden gateway to a safe and secure investment destination for investors across the globe, it is necessary to encourage the private sector operators so as to ensure their operations do not appear to be at variance with internationally acceptable practices.