Business & Finance

Anti-Gay Bill May Repel American Investors from Ghana – US Ambassador

Virginia Palmer, the United States Ambassador to Ghana, has issued a cautionary warning to Ghana regarding the current anti-gay bill under consideration by the Parliament. Palmer suggested that the passage of this bill could potentially alienate investors from the LGBTQI community, as well as other American investors, from the nation.

She acknowledged that Ghana is known for its inclusive and harmonious society, characterized by religious and ethnic tolerance that bolsters its strength, stability, and attractiveness for investments.

However, Ambassador Palmer expressed concerns that discriminatory practices or worse, particularly against the LGBTQI community, could tarnish this welcoming environment.

“I hope it stays that way with regard to the LGBTQI Community. There is money to be made, and the color of your money is green or red but if there is discrimination or worse then that will send a signal to not just LGBTQ investors but other American companies,” she told journalists in an interview on Thursday, August 10.

These remarks come amid the recent decision by the World Bank to suspend new loans to Uganda due to the country’s contentious anti-LGBTQ law.

The World Bank cited a divergence between the law and the institution’s core values, asserting that their mission to combat poverty on a habitable planet can only succeed by embracing inclusivity regardless of factors such as race, gender, or sexuality.

The lender expressed concern about the adoption of Uganda’s Anti-Homosexuality Act and noted that the law undermines their commitment to inclusion and non-discrimination.

Furthermore, the World Bank Group plans to strengthen third-party monitoring and mechanisms for addressing grievances to ensure corrective actions are taken when necessary.


Story by Adwoa S. Danso

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