Our first priority would focus on power crisis – Ato Ahwoi

The newly inaugurated board of the Ghana Infrastructure Investment Fund has promised to help tackle the power crisis of the country by seeking investment for that sector immediately.

Board Chairman of the Fund, Ato Ahwoi in his acceptance speech said “Immediately, the most important thing for us to look at is the energy problem. All the three sectors of the power sector are crying for investment; the generation, the transmission and the distribution.

I think one of the first objectives of this board is to make sure that we manage to help to deal with the electric power problem that is confronting this country.”

He, however added that the board would make a point to get the necessary investment for the various infrastructural needs of the country indicating that “infrastructure in this country is crying for remedy. We will work hard, very hard to ensure that you do not have any regrets for reposing your trust in us to undertake this assignment.

“Ours is a difficult task but that is why you have put the problem on our laps. We have to mobilize funds, we have to invest the funds, we have to help in selecting the projects and we have to invest in the projects so that we can see to the rapid development of this country.”

The board is expected to help generate funds from both domestic and global sources specifically for infrastructural projects in the country. Inaugurating the board, President Mahama said “as we all know, we have a very huge infrastructure deficit as a lower middle-income country and despite our various efforts we’re told that the gap in infrastructural investment hovers about 1.5 billion dollars annually and we need to work to be able to close this gap.”

The president added that “many critical projects are being executed, including roads, health care facilities, educational institutions, extension of information communications and technology amongst others. The execution of all these projects is critical to positioning Ghana properly as a country that is ready to leapfrog and contribute to the needed transformation and diversification of our economy.

“But to be able to achieve this, we need funds to execute critical infrastructural projects including transport, railways, maritime, energy and I am sure you all agree with me that energy is in dying need of critical financing amongst others.”

Governor of the Bank of Ghana, Dr. Kofi Wampah and President of the Association of Ghana Industries (AGI) are members of the board.