Economic relationships between France and Ghana

France and Ghana have a long lasting and confident relationship. Over the years Ghana has

become an important economic partner for France in Africa.

Regular official visits from both sides have taken place over these last years. H.E. John

Mahama, President of the Republic, met the members of MEDEF International in Paris

during its official visit to France in May 2013. Hon Hannah Tetteh, Minister of Foreign affairs

and regional integration also paid a visit to MEDEF International in October 2014. The

French Minister for External Trade was in Ghana in November 2013.

There are currently more than 60 French companies established in the country in a large

range of sectors, 33 of them being established as subsidiaries. This includes agriculture,

banking, insurance, construction, logistics, oil and gas, hotel and restaurants. The well-

known French companies have established subsidiaries in Ghana such as: Société Générale,

Total, Technip, Pernod Ricard, Alstom, Bolloré, CMA-CGM, Air Liquide, and L’Oréal.

Companies like Golden Exotics (La Compagnie Fruitière) or GREL are large employers in the

country. The activity of French companies in Ghana has contributed to the creation of

around 20,000 direct and indirect jobs.

The amount of bilateral trade between both countries was over $1 billion in 2014. Ghana

mainly supplies oil to France, and also agricultural products and food. It is now the fourth

supplier in sub-Saharan Africa for France. France exports pharmaceuticals products,

industrial food, electrical and engineering equipment as well as electronic products.

The value of French foreign direct investments in Ghana in 2013 was €143,1M for a stock

amounting to €900M. This ranks Ghana as fourth destinations in sub-Saharan Africa for

French investors. The presence of French business in the coming years would be increased

with various projects including the extension of Tema harbor, the development of cocoa

processing facilities, electricity production as well as infrastructures for the exploitation of

the oil and gas fields of TEN and Sankofa.

The French Chamber of Commerce and Industry in Ghana celebrates this month its first

anniversary. This association of companies and professionals aims at supporting and

enhancing economic and business bilateral relationships. The Chamber is a platform for

exchange and business networking at the service of Ghanaian and French companies. The

Chamber has more than 70 members now and will be one of the pillars for the fostering of

economic exchange between both countries in the coming years.

On the development side, the French Agency for Development (Agence Française de

Développement, AFD) present in Ghana since 1985, is involved in projects for the sectors of

agriculture, urban development and energy. The agency is part of various projects such as

the development of perennial crops (rubber and oil palm), the retrofit of the Kpong Dam and

the financing of GRIDCO’s investment plans. Its subsidiary PROPARCO offers loans and

private Equities to the private companies.

Ghana

French Business Delegation

Led by

Mr. Patrick LUCAS

Chairman of the Africa Committee, Medef International & Chairman, Gras Savoye

and

Mr. Marc RENNARD

Chairman of Medef International France-Western Africa Business Council & Senior Executive Vice President,

Orange

APRIL, WEDNESDAY 15TH TO FRIDAY 17TH 2015

ACCRA - GHANA

L I S T O F P A R T I C I P A N T S – A p r i l 9

AIRBUS DEFENCE & SPACE

Sales of satellite imagery and geospatial data

Mr Laurent DESBARATS

Sales manager

ALSTOM

Energy / Transport

Mr Thierry DE MARGERIE

Vice President Africa

Mr Pascal DROUHAUD

Director for Africa and Americas

AS.ARCHITECTURE-STUDIO Architecture and urban planning

Mr Alexandre STELLA Associate architect

BNP PARIBAS / CIB

Corporate and investment banking

Mr Jean-Christophe MAGDELAINE

Managing Director Senior International

Advisor

Mr Dalu AJENE

Managing Director, Corporate and

Institutional Banking Head for Nigeria &

Ghana

BOLLORE AFRICA LOGISTICS

Integrated logistics network and operator of public-

private partnerships in the port and rail sectors

Mr Olivier JOUSLIN DE NORAY

Ports & Terminals Director

Mr Bernard de BUOR

Country Managing Director

Mr Mohamed SAMARA

CEO Meridian Port Services

BUREAU VERITAS

Government services and international trade

Mr Rabih HALABI

Senior Vice President, Governments,

Trade Facilitation Programs

CERWAY

HQE Certification for buildings and urban developments

Mr Cosmin COTORA

Business Development Manager

COLAS

Public works

Mr Patrice BLANCHOT

Prospective and Public Affairs Manager -

Africa

COMPAGNIE FINANCIERE DE PARTICIPATION

GROUPE COMPAGNIE FRUITIERE

Producer, transporter, importer, ripener and distributor,

Compagnie Fruitière is the leading producer of fruits in

the ACP zone

Mr Jean-Yves REGNIER Director of Gel, Golden Exotics Limited

DASSAULT SYSTEMES World leader in product lifecycle management

Mr Jacques KURKDJIAN Africa Business Development Director

EDF ENERGIES NOUVELLES

Green energy independant power producer

Ms Marie-Astrid de MONTMARIN

Project Manager

EDF INTERNATIONAL NETWORKS

Generation, transmission, distribution, trade and sale of

energy

Mr Mr Ousmane SALL

Manager for Sub-Saharan Africa

EUTELSAT S.A.

Satellite communications and broadcasting

Mr Laurent GRIMALDI

Senior Advisor

EY

Audit, advisory and law firm

Mr Pierre ABILY

Partner

GRAS SAVOYE

Insurance broker

Mr Patrick LUCAS

Chairman

Mr Mamadou NDAO

CEO for Ghana

HEC EXECUTIVE EDUCATION

Executive Education

Ms Armelle DUFOUR

Global business Développement

ITRON

Water metering systems

Mr Ababacar DIBA

General Manager for Africa

IVECO BUS Bus manufacturer

Mr Nuno Eduardo AZEDO BIGARES Director for Africa & Middle East

MORPHO

ID Systems and solutions for governments

Mr Pierre BECK

VP Sales, Africa - Government Identity

Solutions Division

Mr Fabien ROUAUD

Area manager, Wetern Africa

OBERTHUR TECHNOLOGIES DIVISION IDENTITE

Manufacture and personalisation of secure identity

documents

Mr Thibaud KAEPPELIN

Sales - Identity Business line

ORANGE

Telecommunications

Mr Marc RENNARD

Senior Executive Vice President, AMEA

OXYLANE DECATHLON

Sporting and leisure activities goods retailer and

designer

Mr Charles GONTHIER

Financial Director Africa

SOCIETE GENERALE

Banking and Financial services

Ms Valérie TORTELIER

Chargée d'Affaires Afrique

THALES Electronic systems for defense & security, aerospace,

space and ground transportation

Mr Christophe FARNAUD Senior Vice President International

Development

Mr Dominique GAULT Country Director Western and Central

Africa

TOUTON

Cocoa beans and products, coffee, vanilla and spices

trading

Mr Patrick DAVAILLEAU

Industrial Director

TRACTEBEL ENGINEERING

Engineering

Mr Charlemagne DANOH

Business Development Manager

VEOLIA

Water, wastewater, service contracts

Mr François LAFORET

Director Municipal Development Africa

MEDEF INTERNATIONAL

Professional organization, international business services

Mr Patrick LUCAS

Chairman of the Africa Committee

Mr Marc RENNARD

Chairman of Medef International

France-Western Africa Business

Council

Mr Frédéric MOREL-BARBIER

Project Manager for Sub-Saharan

Africa and Latin America

Mr Timothée BOUTELOUP

Regional Manager North Africa,

Near East

MEDEF International:

the French Business Confederation's dedicated service to the world

Founded in 1989, MEDEF INTERNATIONAL is a non-profit organisation, which:

- represents the French Business Confederation (MEDEF) and its 800.000 companies, in the

world, at a bilateral level

- promotes the know-how and the interests of all French international companies in all

sectors

- fosters improvements of the business climate in the countries where French companies

operate

Medef International created 71 bilateral Business Councils, headed by CEOs of major French

companies.

The Chairman of MEDEF International is Mr Jean BURELLE, CEO of BURELLE SA (20.000

employees throughout the world) and Honorary Chairman of PLASTIC OMNIUM

Company.

Issues and objectives

- To liaise French companies with the world public and private leaders

- To anticipate and to encourage companies to capture new markets

- To strengthen cooperation with reliable partners throughout the world

- To promote new partnerships for French companies

- To act at the Government level to contribute to developing favourable conditions for

foreign investment and business environment.

Actions

- Over 150 high-level meetings each year, facilitating direct and constructive dialogue at the

highest, with heads of State and Government, the leading senior officials and private

decision-makers.

- 22 business delegation of French companies with solid projects in 40 target countries

- Initiatives with the Development banks (World Bank, EBRD, EIB, ADB …) and

international organisations

MEDEF International in 2013

150 countries covered / 125 high level meetings / 25 business delegations abroad in 30 countries / 6.700

companies attending the actions / 40 CEOs chairing 70 Business Councils

Chairman of Gras Savoye

Vice-president of Medef International

President of the Africa Committee of Medef International

President of F.G.V. (Forum pour la Gestion des Villes)

Manager of C.C.R. (Caisse Centrale de Réassurance)

ESCP 1963

Patrick LUCAS began his career as an Associate Director, Account Manager and Manager of International

Relations at Gras Savoye, first insurance broker in France. He became Managing Director in 1973 and then

Chairman and Chief Executive Officer in 1979. Since 2011, he has been Chairman of the board of directors

and Director of the European, African and Asian subsidiaries of Gras Savoye.

Member of the Board of directors of Willis (1998-2005).

At the same time, Patrick Lucas was President of the management committee (1986) and then President

of F.G.V. Forum pour la Gestion des Villes. He is also Honorary President of the French Federation of

Insurance and Reinsurance Brokers (F.C.A.), Manager of C.C.R., Caisse Centrale de Réassurance and

Honorary President of the E.S.C.P. Alumni Association. Since 2006, Patrick Lucas has been President of the

Africa Committee of Medef International and Vice-president of Medef International.

Patrick LUCAS

Chairman of Medef International France-Western Africa Business Council

Senior Executive Vice President of Orange

Marc Rennard joined the France Telecom Orange Group Executive Committee in May 2010.

He has been, since 2006, the Executive Vice President International of the FT / Orange Group in charge of

the Africa, Middle East and Asia region which is made up of 20 affiliates, and more than 110 million

customers.

He is Chairman of Orange Middle East and Africa, which control affiliates in emerging countries.

In 2004, Marc Rennard was appointed Vice President - International of FT/ Orange. In this capacity, he

resided as Chairman and/or Board Member of several international Fixed-line, Mobile and Internet

subsidiaries, including 3 listed companies : Jordan Telecom Group, Mobinil and Sonatel.

Prior to that, Marc Rennard had been chosen in 2003 to be Chairman and Chief Executive Officer of UNI2,

a telecommunications operator, and a France Telecom subsidiary in Spain.

From 1996 to 2002, he served as Deputy Managing Director of TDF and Chairman of TDF VIDEO SERVICE.

He was both Chairman of TDF Cable and Commercial Director of TDF from 1992 to 1996.

From 1989 till 1992, he was appointed Managing Director of « Société des Montagnes de l'Arc », « Groupe

Caisse des Dépôts ».

He became, in 1982, a Consultant, then Agency Director in 1984, and Managing Director in 1986 at CEREP

COMMUNICATION.

Marc Rennard began his career in 1979 as a project manager at ISEOR (Institut de Socio-économie des

Entreprises et des Organisations).

Marc Rennard, 58 years old, is a graduate of EM Lyon, and holds a post graduate diploma in Management

Science. He is “chevalier de l’ordre de la Légion d’Honneur”.

Marc RENNARD

January 2015 1

ACTIVITIES OF THE FRENCH DEVELOPMENT AGENCY GROUP IN GHANA

1. Background

AFD began its operations in Ghana in 1985, marking the opening of the first AFD representation in an English-speaking country. Over the last 30 years, AFD has concentrated its operations on major economic infrastructure development projects in the country, mainly in the telecommunications, transport and energy sectors. Today, its strategy focuses more specifically on Urban Development (including water supply), Energy, Agriculture and Financial Institutions.

2. French Development Agency tools

AFD Group’s investments in Ghana can be channelled through various instruments: � Concessional loans to the Ghanaian State; � Medium or long-term loans to public companies without any guarantee from the State, as well as medium or long-term

loans to private companies or public-private partnerships (through Proparco, AFD’s subsidiary dedicated to the private sector);

� Investments in equity or quasi-equity (Proparco or FISEA); � Loan guarantee in local currency (ARIZ individual or portfolio risk-sharing mechanism or Proparco); � Grants to finance development programs or technical assistance, including grants from the (i) French Global

Environment Fund (FFEM), (ii) the Trade Capacity Building Program (PRCC) or (iii) the EU-Africa Infrastructure Trust Fund;

� Implementation of studies and strategic sector reflexions; � Training activities through AFD’s training center based in Marseilles (South of France), the CEFEB (Center for

Financial, Economic and Banking Studies): professional master degree courses, short-term seminars or specific training sessions and workshops.

Over the past decade, AFD implemented the Debt Reduction and Development Contract (C2D) on behalf of the French State, within the framework of France’s additional effort towards debt reduction for Heavily Indebted Poor Countries (HIPC Initiative) of which Ghana reached the completion point in July 2004. The period of using the MDBS (Multi-Donor Budgetary Support) fund ended with a final payment in 2013, followed by the disbursement of the remaining € 320 M in the course of the year 2014.

3. AFD Group commitments in Ghana since 2004

Ghana has become one of the main beneficiaries of AFD Group’s commitments in West Africa since 2004, date of Ghana’s achievement of the HIPC Initiative completion point. On a cumulative basis, total commitments of the Group from 2004 to 2014 amount to € 901 M, of which € 805 M are loans, € 84 M are grants (including C2D) and € 12 M are guarantees. See the table below for more details:

Tool/year (in M€) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Total

1. Grants

AFD 2,00 1,80 1,60 0,91 0,75 0,79 1,09 0,61 0,50 10,05

C2D 21,00 20,99 21,69 63,68

FFEM 1,20 0,04 0,10 0,07 0,39 1,80

PRCC 1,00 2,90 3,90

EU-Afr. Infrt. Trust Fund 4,80 4,80

Sub-total grants 1,00 24,20 1,80 1,60 21,90 0,75 22,52 5,89 3,61 0,57 0,39 84,23

2. Loans

AFD to the State 33,00 42,40 42,50 37,00 50,00 40,00 71,00 77,50 393,40

AFD to Public Cies 14,00 141,00 17,70 172,70

AFD aux ent. privées 0,50 9,05 0,00 9,55

Proparco 8,27 39,12 6,04 19,58 43,24 71,50 41,90 229,65

Sub-total loans 33,00 42,40 50,77 76,12 50,00 0,00 60,04 232,08 147,49 71,50 41,90 805,30

3. ARIZ guarantees 0,80 0,18 0,15 4,96 1,16 2,04 2,66 11,95

Total 34,00 66,60 53,37 77,90 71,90 0,90 87,52 239,13 153,14 74,73 42,29 901,48

Agence Française de Développement 8th Rangoon Close, Ring Road Central, P.O. Box 9592

Airport, Accra, Ghana Tel : (233 302) 77 87 55 /56 - 76 37 02

Fax: (233 302) 77 87 57 Email : afdaccra@afd.fr

Web site AFD HQ : www.afd.fr - AFD Accra : www.afd-ghana.org

January 2015 2

4. Ongoing projects Since the end of 2004, AFD has focused its activities on three main sectors: Energy, Agriculture/Rural Development, and Urban Development/Support to local Governments (including Urban Transports and Water & Sanitation). The current portfolio of 27 ongoing projects amounts to about € 500 M. They include, by sector (if not specified, the aid modality is a soft loan to the State):

� Agriculture and rural development o Perennial Crops (rubber and oil palm) Development Project, 2006-2015, € 19.4M (includes a grant of € 2 M) o Rice Sector Support Project, 2009-2014, € 13.8 M (includes a grant of € 1.3 M) o Rubber Outgrowers Plantations Project (ROPP) Phase IV, 2010-2014, € 14 M and Phase V, 2013-2017,

€ 17,7 M (concessionary loan to ADB) o Financing support to 7 Ghanaian environmental NGOs, for a total amount of 248,300 € (FFEM grants) o Financing support to PlaNet Finance (French NGO), Phase 1, 2011-13, 290 000 € and Phase 2, 2014-16, 350 000 €

� Urban development and support to local governments and districts o Urban Transport Project, 2008-2014, € 20 M o District Development Facility, 2012-2014, € 21 M o Awoshie-Pokuase Road and Community Development Project, 2010-1014, € 30 M o Ghana Urban Management Pilot Project (GUMPP), 2011-2015, € 40.5 M (includes a grant of € 0.5 M) o Water Supply and Sanitation Project in the Brong Ahafo region, 2008-2015, € 18.6 M (includes a grant of € 1.6 M) o Extension of infrastructure (roads and drainage) in Kumasi, 2013-2016, € 37,5 M

� Energy o Retrofit of the Kpong dam, 2011-2016, € 50 M o Interconnexion Ghana-Burkina Faso and 330 KV line Kumasi-Bolgatanga, 2012-2016, € 141 M, loan to Gridco o Supervision of the construction of the 330 KV line Kumasi-Bolgatanga, 2012-2016, € 4.8 M, grant to Gridco

delegated to AFD by the EU-Africa Infrastructure Trust Fund o AFD participation via ICCF (Interact Climate Change Facility) to Takoradi 2 (3

rd turbine), 2012-2014, € 11.2 M

� Private sector o ARIZ individual and portfolio risk-sharing guarantees with SG-SSB bank o Rural microfinance in the North of Ghana, 2012-2015, € 0.8 M grant and € 0.7 M loan to FIDES Ghana o Support to Advans Ghana for the consolidation of the SMEs credit portfolio, 2012-2014, € 0.4 M, grant to Advans o Inclusive microfinance to the poorest via ID Ghana (Entrepreneurs du Monde), 2012-2014, € 0.210 M, NGO grant o Fair trade in Western Africa, 2013-2016, € 2,9 M, grant to Fairtrade Africa

� Budget support o Contribution to the Multi-Donor Budget Support (MDBS), 2011-2013, € 21.69 M (grant under the C2D)

Besides these projects, AFD finances funds for expert services and capacity strengthening, whose purpose is to finance project preparation studies and strategic reflexions (€ 0.50 M).

5. Strategy and perspectives AFD’s ongoing activities are in line with:

- The Government strategy as defined in the 2010-2013 Ghana Shared Growth and Development Agenda (GSGDA) and the Compact 2012-2022 signed in June 2012 by the Minister of Finance and Economic Planning and Development Partners,

- France’s strategy in Ghana based on the GSGDA and the Compact and defined in the Partnership Framework Document (DCP) 2013-2016 signed in May 2013, after the DCP 2006-2010 signed in 2006.

In the future, AFD’s strategy in Ghana will focus on: - At sectoral level: energy, agriculture, urban development and support to local governments (including rural water and

sanitation); close watch over the water & sanitation sector (waste management);

- With regards to aid modalities: more efforts towards direct funding to public and private enterprises (in particular support to Public Private Partnerships) especially through Proparco and FISEA (Fund for Investment and Support for African Companies).

French Chamber of Commerce and Industry in Ghana French Embassy in Ghana, No.12 Liberation Road, Accra.

0260838637 ccifranceghana@gmail.com

French Chamber of Commerce and Industry in Ghana French Embassy in Ghana, No.12 Liberation Road - Accra

The french Chamber of Commerce and Indsutry in Ghana (CCFG) was officially launched on May 2014 and results of concerted and sustained effort of HE Mr Frederic CLAVIER, French Ambassador in Ghana and the Ghana section of the French Foreign Trade Advisors (CCEF) to create an efficient structure to support and enhance bilateral economic, commercial and financial relationship between Ghana and France. CCFG as association of transnational corporations, Small and Medium enterprises and entrepreneurs belonging to different sectors, aims to both assist and support increasing numbers of: 1. Ghanaian companies interested in french products, in starting business with french companies

or entering the french market (in France, Ghana or sub area) 2. French companies established or willing to establish their business in Ghana

Internal organization: - Board of Directors with 01 President, 03 vice-President, 01 General Secretary, 01 Treasurer, 01 vice-Treasurer and 5 ordinary member - Office with a permanent Operational Manager + 01 Assistant for dayly basis activities - 67 members, still growing -President is Mr Patrick PRADO who is equally President of the CCEF Ghana Contacts : ccifranceghana@gmail.com +233 (0) 2 60 83 86 37

French Chamber of Commerce and Industry in Ghana French Embassy in Ghana, No.12 Liberation Road, Accra.

0260838637 ccifranceghana@gmail.com