Ghana Economic Forum 2022

On Tuesday 25 October and Wednesday 26 October 2022, The Business and Financial Times (B&FT) held the 11^th Edition of the Ghana Economic Forum (GEF) at The Kempinski Gold Coast Hotel in Accra for which KPMG continues to be the knowledge partner.  The GEF is a private sector initiative by the B&FT to help shape Ghana’s agenda for economic growth.  The objective of this forum was to bring together CEOs, CFOs, Investors and Government Officials to deliberate on topical issues. 

The theme for this year was:  Building A Robust & Resilient Economy through Technology, Finance, Investment, Trade and Entrepreneurship and was split into various sessions across two days. Key invited guests present included Hon. Seth Terkper (Former Finance Minister), Mr. Ammishaddai Owusu-Ansah (Commissioner general, GRA) and Mr. John Kofi Adomakoh (MD, GCB) as well as CEOs, Heads and Academia from reputable institutions.

On the first day Andy Akoto gave opening remarks on behalf of KPMG in Ghana’s Senior Partner. He stated the Ghana Economic Forum is an adaptation of the World Economic Forum and the firm is proud to play an integral part of this forum.  He added that this year’s theme looks at our present issues as well as ways to prepare for the future and touched on key themes that emerge from the 2022 CEO Outlook which included Economic Outlook, Technology and the Cyber Environment, supporting and attracting talent and ESG (and its impact on businesses).  Two plenaries followed, the first was Reducing the Fiscal Gap: An Approach to Improving Government Revenue moderated by Prince Moses (General Manager, Asaase Radio) with the following panellists: Dr. John K. Kwakye- Director of Research (Institute of Economic Affairs), Hon. Seth Terkper (Former Minister of Finance), Prof. Godfred Bokpin (Finance Lecturer, UG) and Rev. Dr. Ammishaddai Owusu-Amoah (Commissioner General, GRA).  The second plenary entitled: Fintech and the Future of Finance was moderated by Foster Akugri (CEO, Hacklab Foundation) and featured a number of speakers including KPMG Manager Philip Twum, who spoke on the benefits and risks of cryptocurrency and emphasised that the future is bright for fintech in Ghana, but there needs to be a lot more education and regulation so that everyone has a better understanding.  Other panellists included Nana Yaw Owusu Banahene (Country Manager, AZA Finance), Kwame Oppong (Head, Fintech & Innovation, Bank of Ghana), Alex Bram (CEO, Hubtel Ghana), Ankit Tandon (Director- Regulus Investments and Financial Services) and Abena Brigidi (Managing Director, Nimed Capital).

On the second day, there were 3 plenaries, namely Women in Business: Overcoming Critical Hurdles to Building Sustainable Products and Brands for National Development, moderated by Alfred Ocansey (TV3) with the following panellists: Mrs. Abena Osei-Poku (Managing Director, Absa Bank Ghana), Dzigbordi Dosoo (CEO/Founder, Allure Spa Africa), Madam Helene Wessie (Managing Director, Guinness Ghana Brewery PLC), Rose Mensah-Kutin (Phd) (Director, ABANTU for Dev’t), Patricia Obo-Nai (CEO, Vodafone Ghana), Mrs. Theresa Ayoade (CEO, Charterhouse Productions), Mrs. Tucci Goka Ivowi (CEO, Ghana Commodity Exchange), Odelia Ntiamoah (CEO, SNB Group) and Janet Sunkwa-Mills (CEO, AFRBIZ Group Ltd), Ensuring Food Sustainability and Security: An Analytical Overview of the “Planting for Food & Jobs” Policy and the Implications for Economic Growth moderated by Anthony Morrison (CEO, Agribusiness Chamber) those on the panel were: Dr. Abu Sakara-Foster (Farmer & Agronomist), Fred Kukubor (CEO, Farmer Globale), Robert Dovlo (Founder & CEO, REEL Consult Ltd) and Kwesi Korboe (CEO, GIRSAL Ltd) and Trade and Industrialization: Catalyst for Economic Growth and Development moderated by Godfred Akoto (Citi FM) which featured KPMG Advisory Partner Andy Akoto who shared insights and explained that for economic growth we have to be very deliberate about how we put forth policies and make sure they are executed in line with the long-term strategies of the country. He also spoke on the need for Ghana to be innovative in order to boost our local entrepreneurs. Andy also shared his observation that currently there are not many linkages between various ministries (such as transportation and agriculture) to make sure everything works full circle and added that there needs to be consistency in thoughts and execution to make sure the required linkages in all other sectors ensure the policies work and thrive. Other panellists on this plenary included Maame Awinador-Kanyirige (International Trade Expert), Anthony Morrison (CEO, Agribusiness Chamber), Dr. Afua Asabea Asare (CEO, GEPA) and Mr. Kwame Jantuah (CEO, Energy Consortium).

Overall, the various plenaries were very informative, with various thought leaders from reputable institutions sharing their thoughts, insights and recommendations in order to help boost the economy in Ghana in both the short term and long term.