In December 2020 the Ghana Investment Promotion Centre (GIPC) and Invest for Jobs signed an agreement to mobilise investments and promote job-creating growth of enterprises. The cooperation between the two parties will address investment challenges reinforced by the pandemic.
With a decline in foreign direct investment around the world, partly because of the COVID-19 pandemic, it has become imperative for governments to maximise developmental support to retain investment, encourage follow-on investment and achieve greater local economic impact. Investment promotion agencies in most countries are now focusing primarily on keeping investors in the country, strengthening their resilience, and encouraging restructuring to preserve companies and safeguard jobs. “We look forward to the cooperation with GIPC to help build a more enabling environment for investors and raise awareness on investment opportunities in Ghana” noted the Head of Development Cooperation at the German Embassy, Ms. Dorothee Dinkelaker.
“The Corona virus pandemic has made aftercare of investors particularly important. The cooperation between GIPC and the German Cooperation through Invest for Jobs will facilitate the provision of information to investors, and support to relevant companies to address investment barriers,” highlighted the Chief Executive Officer of GIPC, Mr. Yofi Grant.
A further focus of the cooperation between Invest for Jobs and GIPC includes supporting potential investors who, due to COVID-19 restrictions are unable to travel to Ghana to obtain relevant information. The intervention will also facilitate the design of a matchmaking platform to connect international investors to local businesses. Thus, investors can again obtain long-term perspectives to create new jobs. Invest for Jobs is the brand of the Special Initiative "Decent Work for a Just Transition" of the German Federal Ministry for Economic Cooperation and Development (BMZ).
The agreement was signed by the Head of the Special Initiative at the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH Ghana, Mr. Gerald Guskowski and the CEO of GIPC, Mr. Yofi Grant.
The consortium around the company Eranove successfully applied for a grant by the Facility Investing for Employment. The Facility is part of Invest for Jobs. On 26 January 2023, the grant contract for 5.17 million euros was signed in Abidjan. In three years, 14,000 people will attend the various training courses offered by the academy and more than 1,100 jobs are expected to be created.
Since its launch in June 2022, the Soft Landing initiative of Invest for Jobs in Tunisia has facilitated the arrival of 10 European and African IT companies in the country. In return, the companies committed to create over 100 high-quality tech jobs for Tunisians.
To implement BMZ’s development-policy priority areas in the 20th legislative period and to address changing global challenges, the Special Initiative on Training and Job Creation will have a new name and focus. As of January 2023, it will be called Special Initiative "Decent Work for a Just Transition".
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