IE Singapore opens second Africa office in Ghana

Trade agency IE Singapore officially opened a second office in Africa on Tuesday, in the city of Accra in Ghana.

This comes six months after its first African office was opened in Johannesburg in January, the agency said.

The offices are part of IE Singapore's efforts to help Singapore companies expand into the high-growth regions of West and Southern Africa.

"Venturing into emerging markets with significant investment potential is one way for Singapore companies to diversify risks as they expand their presence globally," said IE Singapore chief executive Teo Eng Cheong.

"IE Singapore is boosting our presence in Africa to help Singapore companies better navigate the market, and capitalise on the vast business opportunities available."

About 55 Singapore companies operate across 43 countries in Africa today, up from 35 companies in 29 countries in 2010, IE Singapore said.

At the opening ceremony of the Ghana office on Tuesday, Singapore and Ghana signed two memoranda of understanding to help companies from both countries link up and exchange information.

Two Singapore companies also inked partnership agreements with Ghana firms. Singapore's Kheng Keng Auto signed a joint venture agreement with Car Joint Company to build one-stop centres offering automobile solutions in Ghana, while homegrown architecture firm RSP Architects Planners & Engineers signed an agreement to jointly work with ASP Consult to source for and service real estate development projects in Ghana.

Join ST's Telegram channel and get the latest breaking news delivered to you.