The Supreme Council for Arab-African Economy (SCAAE), an international organisation that seeks to promote trade and investment in Arab and African countries, will hold its maiden conference in Ghana on June 1, this year.
The conference, which seeks to foster dialogue and opportunities for investors in the country, will be on the theme: “Together for a better Arab-African economy”.
Participants will include investors from Europe, Arab countries, Asia and other African countries and are expected to interact with government agencies, such as the Ghana Investment Promotion Council (GIPC) and the Ministry of Trade and Industry, and business groups, such as the Association of Ghana Industries (AGI) and the Ghana Chamber of Commerce.
The Executive Director of the SCAAE, Hajj Mukaila Ahmed Akuamoah, told the Daily Graphic that the rationale behind the creation of the council and the conference itself was to promote sustainable investment in Africa and Arab countries.
“The council was formed on the basis of collaborating on investment and also giving Africans opportunities to invest in Arab countries,” he said.
He said the council was a hub for investment, so there was a need to collaborate on all fronts to help develop sustainable growth.
Throwing more light on the conference, he said it was to promote investments in all sectors, such as construction, agriculture, health, manufacturing, energy and services.
“The investors will be looking at proposals that are viable, impactful, sustainable and will help in development. They will, therefore, invest in areas that will lead to massive employment and sustainable development,” he said.
Besides, Hajj Akuamoah said, investors who would participate in the conference had the desire to invest in Ghana and other African countries, for which reason they would be looking out for meaningful partnerships with governmental agencies and the private sector.
Scope of operation
Established under Article 17 of the Arab-African Economic Agreement, the SCAAE provides project consultancy, research into business development and also represents the interest of investors throughout Africa and other parts of the world.
It works to bring investors, regulatory agencies, business groups and other interests together for sustainable and effective partnership and collaboration in Arab and African countries.
It also works to enhance the competitiveness and diversification of Arab and African countries, as well as increase the flow of investments in these countries.
Hajj Akuamoah said the SCAAE had restructured its operations to improve the flow of investments in African countries.
“We are doing more projects in Africa, mainly in Senegal, Ghana and Comoros, and currently targeting other African countries, such as Sudan, Tanzania, Cote d’Ivoire and Nigeria, where we have received a lot of investment proposals to study and advise, accordingly,” he said.