Business News of Friday, 4 December 2015
Mr Ruediger John, the German Ambassador to Ghana, has said Germany would continue to provide developmental support to Ghana.
He said bilateral relation between Ghana and Germany has improved over the past 18 months and in this period the President John Mahama visited Germany on two occasions and several delegations from Germany have made similar visits to Ghana.
Speaking at the recent annual dinner dance of the Ghanaian German Economic Association (GGEA) at the Holiday Inn, he said all the visits centered on various forms of development assistance and Germany would soon commit more funds for the development of the agriculture, governance and other economic sectors.
Mr John said Germany would continue to provide budget support for the country saying “we would support government in all its efforts to improve the economic situation of the country”.
Mr Stephen Antwi, President of the GGEA, said we are aware that various power generating assets have arrived in the country and the installed capacity in the power sector keeps improving.
He said the main challenge is whether we shall be able to get adequate crude oil or gas to fuel these power equipment.
Mr Antwi said over a period, we have been assured by government that from 2016, the energy crisis facing the nation would lessen and expressed the hope that a structured plan shall be put in place to ensure that the power generating assets like the barges etc shall receive the necessary inputs.
He said we also want government to stay within its means of expenditure as this would prevent budget overruns and halt the inflation concerns saying “we need to have a stable currency not only for 2016 but in the coming years.”
In a speech read on his behalf, Dr Ekwow Spio-Garbrah, the Minister for Trade and Industry, said government shall continue to build the needed structures to support private sector development and promote the spirit of entrepreneurship.
He said though the economic relations between Ghana and Germany keeps growing, there is the need for more joint ventures and investments in technology and manufacturing.
Dr Spio-Garbrah said the Ministry shall continue to ensure that efficiency, productivity, access to credit, expanding the ICT industry etc shall remain its core efforts and concern.
At the event sponsored by Hysen, Kasapreko Company Limited and Brussels Air, Silver Star Auto Limited was honoured as the GGEA ‘company of the year’ for the various roles the company played to the GGEA and in the society.