The DBSA sees Ghana as key in building Africa’s prosperity
The DBSA sees Ghana as key in building Africa’s prosperity

 
 

The DBSA sees Ghana as key in building Africa’s prosperity

Public and private sector stakeholders from various countries attended the Summit.

Speaking at the Summit, South African High Commissioner to Ghana, Her Excellency Luluma Xingwana, stated that South Africa regards Ghana as a strategic partner on the continent due to our shared values of democracy, good governance, the rule of law and respect for human rights. She further added that South Africa has been a key development partner in Ghana as evidenced by the number of South African companies that have invested in the West African country.

The DBSA has identified Ghana as one of the key investment nodes, due to its economic growth potential and its strategic location for trade within the region, as well as with Europe and North America. Ghana is the second fastest growing economy on the continent, driven largely by the oil, gas and mining industries, which all require urgent and significant infrastructure development. “We are a vision-led and purpose driven, state-owned enterprise. Our vision is to have a prosperous and integrated resource efficient region, progressively free of poverty and dependency. Our purpose is to bend the arc of history towards shared prosperity across Africa. As such, we use insights to develop bespoke and integrated infrastructure solutions for our clients. As development practitioners, our expertise and solutions range from project planning, preparation, financing, building and maintenance,” said Mdu Dlamini, Head of Coverage: Financial Institutions and ex. SADC Region at DBSA.

The DBSA has already funded a number of key infrastructure projects in the country. These include the USD55, 6 million development of terminal three of Kotoka International Airport. The project created more than 760 jobs during the construction phase with a further 900 permanent jobs expected over the next few years. The project will create 5,000,000 capacity for the airport over the next 15 years.

Another key investment is the USD53 million Cenpower project, which has a target commission date of 2019.  At full operation, the project will contribute 30% capacity to the national electricity grid. In the last 18 months, the DBSA has approved an additional investment of USD200 million towards energy infrastructure in Ghana. These include Genser Ghana Limited (USD100 million), which is an Independent Power Producer (IPP) supplying power to the gold mining sector, Tema Liquefied Natural Gas (LNG) Terminal (USD61 million) and Early Power Limited (USD35 million) that supply re-gasified LNG and power in the Tema power enclave, respectively.

“We are honoured to have gained such a wealth of insight and networks through this Summit. As one of the leading Development Finance Institutions (DFIs) on the continent, we will turn this knowledge into tailored financial solutions for socio-economic development impact in Ghana and the rest of our continent,” concluded Dlamini.

Ends

 

Notes to Editors:

More about Ghana

Ghana’s infrastructure base has witnessed improving performance over the past two decades, thereby helping the country to maintain satisfactory growth.  The country’s rising trade has been reflected in growing cargo throughput, which increased from 15.99 million (2014) to about 23.13 million (2018).  From 17.71 million in 2010, the mobile telephony subscriber base expanded to 40.9 million by December 2018. Similarly, as at December 2018, data and mobile penetration rates stand at 88.84% and 138.8%, respectively.

The transport sector, consisting of road, maritime, water, aviation and rail transport, is also witnessing significant developments. Aside from the Kotoka International Airport, located in the Greater Accra Region, the expansion of the Kumasi and Tamale airports are underway and the projects are expected to be 75% and 65% complete, respectively, by the close of 2019. All these are spurred by the increase in air passenger traffic that has risen from 1.2 million (2008) to approximately 2 million (2018). 

Roads are the primary bulk inland transport system with over 50% of the national road network in good condition. The rail industry in Ghana has a total track length of 1 300 kilometres. Government is actively seeking private sector participation whilst the rehabilitation of existing rail lines and the construction of new ones such as Kojokrom-Tarkwa, Kojokrom-Manso and Achimota-Nsawam, are ongoing.

The ICT sub-sector encapsulates undersea cable connectivity, private licensed VSAT systems, fixed wired line networks, wireless mobile operators, public telephones systems, internet backbone connectivity, broadcasting systems etc.

About the DBSA

The DBSA established in 1983, is a Development Finance Institution (DFI) wholly owned by the Government of the Republic of South Africa, and reports into the Ministry of Finance. The vision of the DBSA is to facilitate the creation of a prosperous and integrated resource-efficient region, progressively free of poverty and dependence. Its mission is to support regional integration and economic growth through investment in economic infrastructure and to improve the quality of life of people through the development of social infrastructure. The DBSA aims to advance its development impact on the African continent by expanding access to development finance thus effectively integrating and implementing sustainable development solutions.

The DBSA participates across the entire infrastructure value chain inclusive of the planning, project preparation, financing and implementation stages. Visit www.dbsa.org

For further information contact:
 
DBSA Media Relations
Sebolelo Matsoso
Head of Communications and Marketing
Sebolelom@dbsa.org 
(011) 313 3716

Nkosinathi Msiza
Senior Marketing and Communications Specialist
Nkosinathim@dbsa.org
(011) 3133717

DBSA@dbsa.org

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