Skip to main content

Japan US$32 billion for Africa will help Ghana as well

Minister of Energy and Petroleum, Emmanuel Armah Kofi-Buah has disclosed Ghana’s willingness to take advantage of the Japanese government’s proposed $32billion intended to support developing economies in Africa.

The proposed fund will be channeled towards infrastructure development and energy, to improve living standards in the region.

Mr. Kofi-Buah made the disclosure during a courtesy call on him by delegation from Sojitz Corporation, a Japanese company undertaking the $125 million seawater desalination project in Nungua, Accra to discuss progress of the project and other investments opportunities in the Energy sector.

He noted that Ghana’s excellent relationship with Japan could be further strengthened with increase investments.

The Minister, accompanied by his Deputies; Benjamin Dagadu and John Jinapor assured leader of the delegation and Executive Vice President of Sojitz Corporation Mr. Joji Suzuki of government’s support for foreign investments, adding, “Ghana has an excellent relationship with Japan and other foreign investors in the country”.

Mr. Suzuki on his part revealed his satisfaction during his visit to the project site and commended government for ensuring a smooth rollout of the desalination project, further stating that Sojitz Corporation is considering additional investments in Ghana and other parts of the sub region.

He also noted plans to do first test of water at the project site by the end of the year, adding that a team from Japan will arrive in the country to do a detailed presentation to government on the ongoing project.

Mr. Shinohara, an Executive Director of the Corporation added that their next visit to the country will see them presenting to government for consideration, a proposal on a new concept in Independent Power Production (IPP) which is widely accepted in parts of Middle East and Asia but is relatively unknown in Africa.

The Teshie project, which will begin commercial operations in 2014, is expected to supply 60,000 m3 of drinking water to about 600,000 people in Teshie and surrounding communities.

The desalinated water will be sold to Ghana Water Company Limited (GWCL) under a long term water sales contract of 25 years to ensure stable provision of drinking water on a long-term basis in the capital.

The project is the first desalination project in sub-Saharan Africa, and also the first investment by a Japanese corporation in Africa.

Comments

Popular posts from this blog

Akuapem-Apirede to promote tourism

By: Fred Yaw Sarpong sarpong007@gmaail.com
The Chiefs and people of Akuapem-Apirede in the Okere Constituency of the Akuapem North Municipality have put in place strategic plans to promote tourist sites in the town.
Apiredehene, Nana Saforo Okoampah III told the Daily Express that their vision is to develop Apirede in a modern way.
“We want to have a modern society and environment. We are doing this on the basis of promoting tourism here,” he added.
According to the Apiredehene, it’s their plan to promote the historic sites and the geographical location of the community.
Apirede is one of the 17 towns that forms the Akuapem State and historically, it used to house the armours of the Akuapem State. The community is part of the Nifa division of Akuapem.
He stated that one of those things was called ‘Odosu’ (the war god for Okuapemhene). “The Chief Executioner in those days for Akuapem also came from Apirede and items that he used were also kept here,” he stated.
“These are a lot of things …

PIAC told to go to court to enforce recommendations

By: Fred Yaw Sarpong
sarpong007@gmail.com

The Public Interest and Accountability Committee (PIAC), the mandated body to monitor the use of Ghana’s oil revenues has been asked to go to court to seek strict compliance of the laws covering accountability of oil funds in the country.

According to Dr. Steve Manteaw, the Campaign Coordinator for ISODEC and a member of the PIAC , it’s time for PIAC as a body to consider going to court to compel institutions responsible for managing Ghana’s oil revenue to answers some questions concerning the expenditure of oil funds.

He pointed out that there are several recommendations made by the PIAC in its past reports on management of petroleum revenues, and a lot of these recommendations has received no positive response from the institutions concerned.

He disclosed this to the Daily Express at a three-day workshop on Interrogating the 2016 Semi Annual PIAC Report at Koforidua in the Eastern Region.

The workshop was organized by the Institute of Financ…

BoG shuts down two financial institutions

The Bank of Ghana has closed down two financial institutions in the country. This was after the central bank investigation revealed that the two companies were operating without approval.

The two companies were Agro Development Fund Services Limited (ADFSL) and Hebron Financial Investment Limited (HFIL).

The Daily Express gathered that the ADFSL was asked to stop operating after the central bank realized the institution had not been licensed to take deposit from the public.

A statement from BoG said the ADFSL continued to operate despite the orders from the Bank of Ghana. It however closed down ADFSL’s operation until further notice.

The Bank of Ghana said that the ADFSL is located at Asufufu, opposite the Sunyani Traditional Council in the Brong Ahafo region.

“The decision to close down ADFSL is in furtherance of section 20(2) (g) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930). Bank of Ghana has investigated ADFSL thoroughly and has concluded that its a…