GGEA PRESIDENT’s MONTHLY INSIGHT FOR AUGUST

August 31, 2018 / Comments (0)

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Herzlich willkommen, Bundeskanzler!

The visit by the German Chancellor, Angela Merkel who was accompanied by Dr. Gerd Mueller, the Federal Minister for Economic Cooperation and Development as well as a high-level business delegation to Ghana, appears to have paid substantial dividends for Ghana. An agreement between the government of Ghana and the German car manufacturing giant Volkswagen, for the assembly and ultimately, the production of automobiles in Ghana has been reached.

This was disclosed this at a joint press briefing held as part of the official visit of the German Chancellor, Angela Merkel to Ghana, at the Jubilee House in Accra. Locally assembled Volkswagen vehicles are to hit the Ghanaian market by next year, the Managing Director of VW Africa, Thomas Schaefer stated. The assembling plant is expected to produce about 5000 units of vehicles every year with plans to increase production depending on the market demand. The German Automobile manufacturer says the move is part of the Germany-Africa Investment drive championed by the two countries after the G20 summit last year. The German Chancellor reiterated her country’s commitment to supporting efforts by the Ghana government to focus on industrialization. She said her administration has keenly monitored how the Akufo-Addo administration is building a ‘Ghana Beyond Aid’.

In another Memorandum of Understanding, Robert Bosch Packaging Technology GmbH and ASPIRx are expected to supply the technologies for the construction of the vaccine factory in Ghana. Furthermore, Voith Hydro Holding GmBH & Co. KG and Tabcon Limited signed the third Memorandum of Understanding to supply technologies for the construction of a hybrid solar/hydro power plant in Ghana. Reacting to the Ghanaian President’s call for investment to improve infrastructure in Ghana, especially in the rural areas, the German Chancellor gave an assurance that Germany was ready to assist Ghana to build its infrastructure and shape its energy sector to be efficient in adopting to new challenges.

The Chancellor commended the government for its avowed vision and commitment to provide the youth of the country with opportunities to be able to contribute their quota to the development of the country, saying it was in that direction that the German government wanted to support Ghana. The German Chancellor indicated that about 42 universities in Germany offer scholarships to Ghanaian students. “Government is looking at ways of scaling up such scholarships for countries like Ghana with good democratic credentials,” she added.

The GGEA appreciates the German Government’s decision of supporting Ghana’s industrialization efforts which will help to provide jobs to the youth of Ghana and thereby helping to realize the “Ghana Beyond Aid” agenda of the Government. The Ghana beyond aid agenda can fully materialize when practical steps are implemented to sanitize the investment environment in order to attract more foreign direct investment.

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