Feb 21st is the big day...Today we get to meet Barbara from CDC and also other folks from various ministries who are going to speak about the economic vision of Ghana....
After breakfast, met up with the remaining 3 folks of our team, Yaw, Kacie and Rosa...and did they have a interesting experience last night.....In their flight, some had a heart situation which could easily have reculted in far serious problems and thankfully he got saved....and more pertitently they came to the Elking hotel to find that it was overbooked and they did not have any place....They were going to be shifted to new hotel....They did settle down into the new hotel after almost 2 hours of concalls discussions and decisions...anyway they had a good night sleep and after breakfast we are ready to hear from Barbara and the Ministry folks....
Listening to the Ministry folks especially Ministry of Trade and Commerce as well as the Minsitry of Telecommunication, I was driven back to Nehru's "Temples of modern India"....A time when India desparately wanted to create home based Industry and self reliance as oppossed to imports and foreign capital....And actually it did serve our needs well at that point of time...especially the 60's and the seventies....
90% plus of registered business in Ghana are MSME (Micro Small and Medium Enterprises) and they have major challenges like Access to Capital, Markets etc....Also came to know that the interest rate is almost 28% plus for corporate borrowing and corporate tax stands at a staggering 35%....I was reminded once again of India in the 90's as we are waiting to be unleashed onto the world and which finally the govt of those times allowed us to do....1992 and the great Indian liberalisation....
Ghana, I believe is also at that tipping point because the govt of the country has invested significantly in telecommunications and infrastructure and the country virtually sits on a huge crude supermarket...with exciting offshore finds around Takoradi (where we are put up) and potential finds onshore also.... The talk given by the person from Ghana National Petroleum Corp was amazing and very well appreciated....It was also interesting to see that most of the exploration work is being done by American and European firms and there was no ONGC Videsh and Sinopec .... surprising but I am sure that we will see one of the two definitely joust for their share of this oil supermarket.....
Honestly , i hope the discovery brings wealth and prosperity to the Ghanian people who are just great and friendly....btw contrary to perceptions...I think Ghana is a very safe African country....and I feel very happy to be here....
Anyway after the talk, we were famished and we ran down for lunch....Lunch was again exotic, Jollof (Fried rice), Barracuda with white sauce, Grilled chicken, Kelewele (Barbara tells us that the street version is the best .... but cholera is around so I guess sampling will not be easy)..... and some vegetables.....
After lunch, we took the bus to Takoradi approx 180 Km's from Accra .....The bus trip was great reminded me of my college days and it was a discovery of each other on very personal aspects....I realise that this trip is going to be a great opportunity for all of us to learn about our cultures our choices and preferences....
Anyway we have reached Takoradi and I love the Valley Beach Hotel....Lovely rooms and internet that zips....And th best part there is a fan in my room apart from the Air conditioner...I can sleep well as I will not miss the Mumbai/India feeling of having a whirring noise while I sleep....
We had some great political and development discusions as we sat down for dinner on the terrace at the hotel....the food was excellent....Shrimp provencale and steamed rice....Guys and Girls you have to bear with me on food descriptions....it is the best way on my personal front to describe culture....
Anyway ciao for now...tucking into bed and it is king size ....hope to have a good nights sleep and keep watching this space.....
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