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Business News of Wednesday, 22 January 2020

Source: ghananewsagency.org

Germany to support Ghana's economy

The German government has underlined its readiness to stand with Ghana every step of the way to grow its economy and end its over-reliance on development assistance.

Ms Dorothee Dinkelaker, the Head of Cooperation at the German Embassy, said Germany was well aware of the reforms being undertaken by the Ghanaian Government in the medium term - the "Ghana Beyond Aid" agenda.

She was speaking at a workshop organized jointly by the ‘Government for Inclusive Development’ (GovID), the Ministry of Finance (MoF) and the Ministry of Local Government and Rural Development (MLGRD) in Accra.

The GovID in its quest to improve on efficiency in public financial management, has begun an operational planning workshop to set goals and targets for the 2020 implementation year.

The workshop sought to provide technical advice, training and organizational development measures to national institutions.

Ms Regina Bauerochse Barbosa, the Country Director of GIZ, Ghana, said the vision of GIZ was to shape a future worth living around the world.

This vision, she said was corresponding to the Sustainable Development Goals (SDGs) to achieve a better and more sustainable future for all.

“I know that Ghana is particularly eager to be the frontrunner in achieving the SDGs by 2030 as President Nana Addo Dankwa Akufo-Addo, the co-chair of the SDG advocates”.

Mr. Alex Kwarteng, the Head of Budget Development at MoF, said 2020 was very significant for the government as a result of the general elections.

He explained that more often than not elections turned to take a huge chunk of the government’s budget, adding that the Ministry was therefore working assiduously to ensure that it spent within the allocated budget.

Mr Kwasi Boateng Adjei, the Deputy Minister of Local Government and Rural Development, on his part commended the GovID for organizing the workshop.

He said the implementation of the District Level Revenue Software within the Metropolitan, Municipal, and District Assemblies for Internally Generated Funds mobilization had begun yielding results for the Ghana Revenue Authority (GRA).

“This is quite commendable as it goes to strengthen our resolve to promoting the ‘Ghana Beyond Aid’ agenda of government,” he said.

He expressed optimistism that the combination of the Good Financial Governance (GFG) programme with the GRA under the MoF and the Support for Decentralisation Reforms with the MLGRD into the GovID would provide the drive for accountability.

He said this would also drive local economic development and deepen the budget and revenue management support at the national and local levels for effective delivery of government programmes.

Over eighty participants drawn from the government, private sector, civil society organisations, among others, are expected to hold discussions and make inputs on how best planned activities could be implemented to facilitate development.

GovID is a module commissioned by the German government with support from Global Affairs Canada and it seeks to support efforts to reform the country’s public financing management for national development.