Deal to redirect Western Region's $500m investment to Kumasi

Unconfirmed reports reaching chronicle form Accra has alleged that all forces are being marshaled to re-direct a $500 million worth of investment that is set to be made in Sekondi-Takoradi to Kumasi, the Ashanti regional capital by the powers that be.

The investment, which is being re-directed to Kumasi, would have provided a direct job for 200,000 people in the Sekondi-Takoradi metropolis and the entire region as a whole.

The investment has also been projected to contribute a whopping $400 million annually to the economy two years after its development. The investment which is to be made in the Sekondi free zone enclave under the new name West Africa Special Economic Free Trade Zone (WASE-FTZ) will see the construction of the necessary facilities for the manufacture and assembling of hi-tech products like computers, TVs and Mobile phones, other telecom equipment and satellite communication facilities.

The investment will also see the emergence of Bio-industries, pharmaceutical repackaging and distribution and the assembling of bicycles, motor bicycles, solar equipment and textiles to the West African market and the world at large.

When contacted to deny or confirm this allegation which, if proved to be true could have serious repercussion on the Western region development agenda, the minister in change, Hon. Joseph Boahen Aidoo, simply said: "I doubt if anybody would ever dream of taking this project to Ashanti region."

According to him the consultant to this multi million dollar project has already gone round the globe to promote the project and from all indications the investors are poised to start the project probably before the end of the year. "I have not received any letter from the authorities concerned that the project is being taken to Ashanti region. I even doubt if they can do that," he added.

Though the regional minister denied knowledge of this nocturnal move, Chronicle sources at both the Ministry of Trade and Industry and the Ghana Free Zone board alleged that frantic efforts are underway to remove the project from Sekondi-Takoradi to Kumasi for reasons which the source itself could not explain.

Chronicle has set its investigative machines in motion to unearth the truth surrounding the whole allegations and the names of the people who are behind what could be described as a sinister move against the people of the Western region who have been neglected by almost all the successive governments, despite the fact that their region contributes the bulk of the country's resources that generate revenue for the development of the country.

During the last January NPP national delegates congress which was held in Sekondi, the regional capital, President Kufour himself admitted that the Western region had been neglected in terms of development. Hear him: "Though this region is one of the richest in the country, it has suffered a disgraceful neglect by the past governments."

With this statement coming from nobody but the president himself, it would be a surprise if this allegation proved to be true.

The Sekondi export-processing zone was one of the enclaves set up by the NDC government to promote the free zone concept and also entice investors into the country. The other one is the Tema free zone.

Though the latter has seen a lot of development including the springing up of numerous factories there, that of Sekondi was relegated to the background. In fact the authorities even refused to demarcate the land acquired for the project, let alone extend water, electricity and other basic infrastructure to the site to entice investors to go there.

Chronicle gathered that it was just a little over a year ago that a Chinese consultant, Dr. Tim Shi, showed interest in the development of the Sekondi zone.

He has reportedly done all the necessary work including the tour of Europe and Asia to woo investors to set up factories for the manufacture and assembling of items earlier mentioned in the story.

Chronicle learnt further that his investment tour was positive as a lot of investors showed interest in coming to invest in the zone. Sekondi-Takoradi has airport, railway, harbour and other facilities, which are all areas investors, look at before investing in a particular area.