The United States Ambassador to Ghana, Mrs Stephanie Sullivan, has said the US sees enormous potential to grow that country’s franchise brands in Ghana.
As a result, it is looking forward to collaborating with the American Chamber of Commerce (AmCham) Ghana to help the sector prosper in Ghana. Mrs. Sullivan stated this when she joined the Amcham leadership to help inaugurate the chamber’s new headquarters and resource center in East Legon, Accra, on Friday.
“Just last week, AmCham and the US Embassy created a new committee focused on expanding the franchise market in Ghana,” she stated. “Franchising increases community prosperity by giving small company ownership options, competitive pay, skills training, jobs, and the career advancement of individuals – from entry level to management,” according to the US Ambassador.
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It also allows Ghanaians to go up the business ladder. “Franchise brands in the United States are focusing on providing world-class training and market growth to their local partners.”
“I witnessed and tasted this firsthand last week when I attended the relaunch of the Pizza Hut franchise here in Ghana by the Melcom Group of Companies,” she said.
“As locally owned businesses, franchises tap local resources and are more likely to give back to their communities,” she added.
In congratulating the chamber for its leap, she said: “AmCham Ghana has its eye on the future as it looks to position itself for success in Africa’s rapidly changing business environment.”
AfFCTA opportunities
Ghana’s political stability, security, growing middle class and its new role as host to the African Continental Free Trade Area Secretariat are attracting more and more U.S. companies as they look for growth opportunities on the African continent.”
She said AmCham played an important role in attracting and keeping those companies in Ghana.
Mrs Sullivan said as Africa’s economy continued to develop, the opportunity was ripe for the AfCFTA to deliver on its promise to expand intra-regional trade and capture new foreign direct investment.
She reiterated that AfCFTA has the potential to be a game changer, not only for doing business across the continent, but also for how the rest of the world thinks of Africa.
The US Ambassador also noted that AfCFTA could truly make Ghana a gateway for the African market and U.S. companies already see the opportunity.
She said AfCFTA, when fully implemented, will represent the world’s largest free trade area, with 55 participating countries, covering 1.2 billion people and a combined gross domestic product (GDP) of $3.4 trillion.
“That’s why, with the opening of this new office, AmCham Ghana is also launching its AfCFTA Resource Centre — an effort to help US companies understand more about the implementation of the AfCFTA agreement.
The Free Trade Area aims to significantly accelerate intra-Africa trade, using it as an engine of growth and sustainable development. Its implementation will affect US-Africa trade relations and present immense opportunities for US company trade and investment across the continent,” she said.
Resource Center
Mrs Sullivan said with this new Resource Center, AmCham Ghana would be there to help American companies navigate those opportunities.
“When American companies come to set up shop in Ghana, they can use this new facility as a temporary office and to conduct meetings with potential business partners and other local stakeholders.
“As the number of American companies grow in Ghana, so too does AmCham,” she added.
