Corruption robbing Ghana of FDI- Canadian High Commissioner

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May 5, 2016 3:53 PM

“I think to deal with corruption you need stronger institutions; law enforcement, the regulatory framework, the ability to enforce laws and regulations so that people will know that there are consequences in whatever they do,” he said.

Canadian High Commissioner to Ghana, Christopher Thornley

Canadian High Commissioner to Ghana, Christopher Thornley has revealed that the high levels of corruption in Ghana is depriving the country of much- needed Foreign Direct Investments.

“The positive thing is that there has been good progress, and action has been taken. But there are still issues around the regulatory environment: setting up a business, dealing with various authorities where people are asked to make unapproved payments etc.”

Mr. Thornley also emphasized the Canadian government’s commitment to support the country’s economy by focusing on the provision of more technical assistance, which he believes will prove essential in driving growth in the industrial sector; adding that steps must also be taken by government to help add value to the raw materials.

“Canada has an US$80million bilateral programme with Ghana; our total aid is over US$100million annually in Ghana, and we work closely to develop the private sector. We are committed to moving our development programme further by providing more technical assistance and fewer grants so that Ghana can help itself more.

“For example, we are looking at a programme now that will boost cocoa production; and we are also looking at financing for small enterprises to help them to grow by providing them with favourable interest rates”, he told the BnFT.

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