Business News of Friday, 14 September 2018
Minister for Information designate, Kojo Oppong Nkrumah has attempted to ease scepticisms surrounding the Ghana-China deal that involves a 2 billion dollar facility in exchange for some of Ghana’s natural resources.
He maintains that the government is not entering into any trade deals with the Chinese government without a plan. In his words, “this plan has clarity on a number of pillars that we need to achieve”.
Essentially, the plan includes what needs to be done to fully utilize the resources in the country so that people do not lack while the resources remain untapped and people remain poor.
Speaking at the Second Edition of the Citi Business Forum themed “After China What Next”?, Mr. Oppong Nkrumah stated that the government’s agenda requires a plan (which he insists the government has) and choosing a trade partner who is willing to give the country the infrastructure it needs to develop.
According to him, government is looking beyond its mandated four years to sustainable development plans that will benefit the entire nation for years to come.
“We have come up with a plan, not just for the four years, but a plan which we hope can extend to the next seven to eight years,” he revealed.
The said facility would be in exchange for alumina processed from Bauxite deposits in the country.
Sinohydro Group Limited, is expected to “provide US$2 billion of infrastructure including roads, bridges, interchanges, hospitals, housing, rural electrification, in exchange for Ghana’s refined bauxite.”
The event assembled academics, trade experts and government representatives to discuss into depths, all the factors of doing business with a civilized empire like China.
Panel members for the event included; Dr. Lloyd Amoah of the Centre for Asian Studies at the University of Ghana, Dr. Yao Graham of the Third World Network, Dr. Glenn Gyimah – a Ghana/China expert as well as the Information Minister Designate, Kojo Oppong Nkrumah.