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Business News of Wednesday, 29 July 2020


Silicon Accra project not a nine-day wonder – CEO

Chief Executive Officer of Silicon Accra Technology City, David Osei, Chief Executive Officer of Silicon Accra Technology City, David Osei,

The Chief Executive Officer of Silicon Accra Technology City, Mr. David Osei, has stated that the Silicon Accra project aimed at driving a wave of technological developments in Ghana will not be a nine-day wonder.

Responding to a question on how laudable projects that are intended to bring long term developments had failed to take-off or stalled after commencement, he said a lot of planning has gone into the Silicon Accra project and thus could not fail.

According to him, one of the reasons many of such projects fail before takeoff is lack of effective planning, an archille’s he argues the Silicon Accra project has taken care of. “We are working. We procured the 60-acre land in East Legon Hills and have done the infrastructure work. Thankfully, we have our first anchor tenant AIMS Ghana who has committed and is about to start construction,” he said in an interview with Leticia Ohene Asiedu.

“I don’t think any innovation or any idea in Ghana has gotten to that level of transaction where they have the land and have done the work with a partner ready to start construction and has even made commitment,” he said.

According to Mr Osei, the approach employed for the Silicon Accra project does not impose financial burden on management.

“The difference with us is that we are offering the companies the chance to buy the land to build, reducing our cost burden, because if we are to build the whole technology park, it will run into hundreds of millions of dollars.

“Most initiatives in Africa want to do everything themselves but we realized that we do not want that burden. So we have the service business pack where they can come and buy their own land and put up their own building. And that is resonating a lot with them,” he explained.

Mr. Osei said such arrangement had allowed the company to cut cost and continue funding the project.

According to him, another reason why the Silicon Accra project will see a long-term growth is because it is not a government-led initiative.

He explained that most of the many failed projects had been announced by government as its initiatives and they failed because of the kind of politics that is engaged in Ghana. Mr. Osei said management considered it important to stay neutral and not to be partisan, adding, “That is why the Silicon Accra Project has been continuing under the current administration despite the fact that the project began under the previous administration”.

Meanwhile, the Silicon CEO has disclosed that management has turned down bids from local and foreign companies who are seeking to acquire land at the Silicon Accra Park because they are not into science and innovation.

“We have had interest from local and international companies but we have had to narrow it down to companies who are doing things relating to technology,” he said.