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Business News of Friday, 30 October 2015

Source: Daily Guide

‘Ghana must spend $1.5bn on infrastructure’

Finance Minister Seth Terkper Finance Minister Seth Terkper

Finance Minister, Seth Tekper has indicated that Ghana needs to spend at least $1.5 billion annually to close the country’s infrastructure gap and bring it to the recommended level of a middle-income country.

In view of that, he said the country has developed a national Public Private Partnership (PPP) policy framework which has been piloted with key infrastructural projects.

“Projects like the Takoradi Port and Airport Expansion Projects, as well as various highway projects are being delivered through PPP.

He disclosed this in an address read on his behalf at the third in the series of the flagship Global PPP conference in Takoradi.

It was designed to provide comprehensive knowledge and skills development across the PPP value chain.

The three-day conference created the platform for practitioners of PPPs to engage with investors and countries that have successfully implemented the PPPs.

The three-day event was organized by C–Nergy Global Holdings, an investment advisory services firm in collaboration with the Ministry of Finance.

The conference attracted senior management and technocrats from firms in sectors such as construction, engineering, architecture, legal, financial and management consulting, as well as public sector players and development institutions.

It was also attended by delegates from Nigeria, Sierra Leone, Liberia, among others.

The theme for the conference was ‘Harnessing Local Opportunities, International Expertise and Resources to accelerate Ghana`s PPP Agenda.”

Magdalene Apenteng, Director of Public Investment at the Ministry of Finance, mentioned other projects under the PPP as the Accra-Takoradi Motorway development, Makola market project, among others.