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Home » Supplement » Ghana
Connecting Continents
December 2, 2012, Sunday
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Print Edition
Print Edition
WITH the valuable financial support of China, Ghana is investing vast sums in major new infrastructure projects
Ghana and China first established diplomatic relations 52 years ago and over the past five decades impressive progress has been made in many fields of bilateral cooperation, particularly under the framework of the Forum on China-Africa Cooperation (FOCAC).
Through FOCAC, thousands of Ghanaian students have benefited from Chinese government grants, scholarships, training courses and seminars, with all these valuable learning experiences and exchange programs supporting Ghana's human resources development.
On the infrastructure front, Chinese funding, machinery, technology and knowledge have helped Ghana build new landmarks like the national theater, dams, hospitals, schools and highways.
In November, Ghana and China Railway Engineering Design Institute Co Ltd signed a deal to fund the construction of the National Disaster Management Organization's office complex plus its regional and district secretariats.
An experienced journalist famous among his peers and Ghanaians for his smile and sense of humor, Information Minister Fritz Baffour is also serious minded and well aware of the challenges facing his country as the nation strives to achieve its many socioeconomic goals.
The father-of-four is renowned for his management acumen and leadership skills that have won him many awards and prompted several corporate bodies in Ghana and other countries to ask him to serve on their boards or governing councils.
Meanwhile, Fifi Kwetey, Deputy Minister of Finance and Economic Planning, reaffirms that Ghana is determined to make the most of its strong trade and political ties with China as it looks to reduce its dependence on one or two export commodities.
"One area where we believe we can face tremendous transformation is in the area of financial services. This country could be very well positioned in the regional area and in the continent to become a financial services hub," he says.
"With regards to cocoa, we want to change our business model and are now more looking into processing cocoa practices, bringing added value to the chain, investing in R&D in cocoa processing to reach the finished product in order to compete more favorably in the international arena."
Deputy Minister Kwetey sees China playing a key role in Ghana's future: "China continues to be a huge inspiration for us. China has been able to accomplish this transformation for itself within a space of two to three decades and showed the world it was feasible.
"The US$3 billion facility from China Development Bank is largely going into transformation of infrastructure and the building of gas infrastructure. Other areas that will most benefit from this Chinese facility are the ports and railways. For us, this journey with China is a journey we expect to travel a long way ahead. We are not just waiting to get the financial resources, more than that we want to constantly learn and leverage the Chinese experience to our knowledge," he concludes.
President Mahama echoes that positive view, adding that such huge investment would help entice FDI from elsewhere. "Investors from all over the world are converging towards Ghana," he says. "International companies are choosing Ghana to set up their bases for West Africa. Ghana is a gateway to the whole region and we are open for business."
Ghana and China first established diplomatic relations 52 years ago and over the past five decades impressive progress has been made in many fields of bilateral cooperation, particularly under the framework of the Forum on China-Africa Cooperation (FOCAC).
Through FOCAC, thousands of Ghanaian students have benefited from Chinese government grants, scholarships, training courses and seminars, with all these valuable learning experiences and exchange programs supporting Ghana's human resources development.
On the infrastructure front, Chinese funding, machinery, technology and knowledge have helped Ghana build new landmarks like the national theater, dams, hospitals, schools and highways.
In November, Ghana and China Railway Engineering Design Institute Co Ltd signed a deal to fund the construction of the National Disaster Management Organization's office complex plus its regional and district secretariats.
An experienced journalist famous among his peers and Ghanaians for his smile and sense of humor, Information Minister Fritz Baffour is also serious minded and well aware of the challenges facing his country as the nation strives to achieve its many socioeconomic goals.
The father-of-four is renowned for his management acumen and leadership skills that have won him many awards and prompted several corporate bodies in Ghana and other countries to ask him to serve on their boards or governing councils.
Meanwhile, Fifi Kwetey, Deputy Minister of Finance and Economic Planning, reaffirms that Ghana is determined to make the most of its strong trade and political ties with China as it looks to reduce its dependence on one or two export commodities.
"One area where we believe we can face tremendous transformation is in the area of financial services. This country could be very well positioned in the regional area and in the continent to become a financial services hub," he says.
"With regards to cocoa, we want to change our business model and are now more looking into processing cocoa practices, bringing added value to the chain, investing in R&D in cocoa processing to reach the finished product in order to compete more favorably in the international arena."
Deputy Minister Kwetey sees China playing a key role in Ghana's future: "China continues to be a huge inspiration for us. China has been able to accomplish this transformation for itself within a space of two to three decades and showed the world it was feasible.
"The US$3 billion facility from China Development Bank is largely going into transformation of infrastructure and the building of gas infrastructure. Other areas that will most benefit from this Chinese facility are the ports and railways. For us, this journey with China is a journey we expect to travel a long way ahead. We are not just waiting to get the financial resources, more than that we want to constantly learn and leverage the Chinese experience to our knowledge," he concludes.
President Mahama echoes that positive view, adding that such huge investment would help entice FDI from elsewhere. "Investors from all over the world are converging towards Ghana," he says. "International companies are choosing Ghana to set up their bases for West Africa. Ghana is a gateway to the whole region and we are open for business."
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