President Recep Tayyip Erdoğan's recent visit to Ghana has begun producing favorable results with Turkish businessmen announcing investment decisions in Africa one after another. Akkartal Group will invest TL 98 million ($32 million) in an organic agriculture base and a livestock farm on the continent. The group aims to be one of the largest food companies in Africa. Akkartal Group Vice Chairwoman Aliye Uzun, who is also an agricultural engineer, said the investment will help Turkey increase its strength in the food industry. Uzun said that Ghana is "the most convenient country" to make agricultural investments in Africa, adding that it is possible to harvest seven times a year thanks to Ghana's agriculturally favorable weather conditions.
The group has nearly completed feasibility studies regarding the investment, which will offer job opportunities for 450 people in a large facility.
Uzun stressed that Africa offers opportunities to Turkey to overcome the troubles that have recently been experienced in meat production and other significant incentive opportunities for investors such as leasing out areas for up to 90 years through agreements. She said Ghana's labor force, as well as untreated and fertile soil that has never been fertilized, will produce good results in agriculture when combined with Turkey's technology and infrastructure. "Labor costs are very low in the region, however, we will provide jobs under more humane conditions and offer better wages," she added.
Erdoğan paid an official visit to Accra, Ghana two weeks ago as a part of his official visit to the West African countries of Ivory Coast, Ghana and Nigeria. Erdoğan had individual and inter-delegation meetings with Ghanaian President John Dramani Mahama and signed agreements for mutual protection of investments and collaboration in terms of youth and sports along with memorandums of understanding in the fields of information technologies and energy.
Citing that current total trade volume between Turkey and Ghana at $400 million, he said: "I believe that we will raise this amount to $1 billion by 2020. We are here with more than 150 firms. Our firms are determined to directly contribute to Ghana's efforts for economic development [in] energy, the infrastructure and housing construction in regard to Ghana's needs." Erdoğan said.
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