Entrepreneurship is the way forward for Ghana – US Secretary of Commerce

Penny Pritzker US Secretary of Commerce

The United States Secretary of Commerce, Penny Pritzker, has commended the Government’s decision to redesign the National Service Scheme in a manner that will re-orient new graduates in the direction of entrepreneurship.

She has also lauded Government’s efforts to encourage start-ups through small seed investments, saying that the initiative is important to Ghana’s economic success.

The Secretary of Commerce made these remarks on Monday when she led a delegation of American companies focused on the energy sector to pay a courtesy call on President John Dramani Mahama at the Flagstaff House in Accra.

A statement from the U.S. Embassy in Accra signed by Jeanne L. Clark, Information Officer, said the 20 firms on the Commerce Secretary’s entourage were genuinely committed to finding the partners needed to re-energize Ghana’s developments in the energy sector.

“Together we can power Ghana and help alleviate one of the key constraints here to economic growth”, Madam Pritzker said.

She paid tribute to the strong bond of friendship between Ghana and the United States, and said the two nations shared a commitment to democratic values, which formed the basis for cooperation on a range of issues that will promote economic growth for Ghana and its people.

“Our commitment to Ghana and the entire continent is also demonstrated by the work of our Department’s Commercial Service, which is expanding its footprint in Africa. We have just announced that we will grow our services and personnel in Ghana, and more than double our presence in Africa as a whole in the coming months.”

“Another value our nations share is a mutual focus on spurring a culture of entrepreneurship. We jointly recognize that small and medium-sized businesses are the backbone our respective economies,” she further stated.

The Commerce Secretary expressed the hope that the visit by her delegation would send a clear signal that the United States is committed to a positive future for Ghana, which is a critical and strategic market for American businesses.

She encouraged more Ghanaian businesses to work together with the United States and with the companies that were part of her delegation.

She also expressed her preparedness to partner with the Government of Ghana in its efforts to address the impediments to trade and investment “and turn it into a productive business relationship.”  Ghana is the United States fourth largest export market in Sub-Saharan Africa.

U.S. foreign direct investment amounted to $3.6 billion dollars in 2012, with Ghana attracting a growing list of U.S. firms including CMS Energy, Coca Cola, Motorola, Cargill, and Newmont Mining, among others.

Source: GNA