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Gov’t must go to stock market to raise funds for infrastructure devt

Samuel Atta Akyea - Works and Housing Minister
Samuel Atta Akyea - Works and Housing Minister

Minister for Works and Housing, Samuel Atta Akyea has suggested that government heads to the Ghana Stock Exchange to raise 90 billion US dollars to solve all of the country’s key infrastructural problems.

According to him Ghana’s economy as it is now will not be able to generate enough revenue to solve the infrastructure challenges such as roads and drainages.

Speaking to Citi Business News on strategies to address the country’s infrastructure deficit, Atta Akyea said Ghana’s economic transformation is tied to the level of infrastructural development, hence the need to raise the 90 billion dollars.

“We have a huge infrastructure deficit. How are we going to solve our road problems? Are we going to go the tortoise pace of saying that let’s do internal revenue mobilization? How much do we earn and how can the economy generate good money for us to fix our infrastructure problems. We can complain about Ghana increasing its debt stock, but if it is a huge problem that dates back to Kwame Nkrumah’s time then we should be able to go in for good money”.

“Let Ghana owe and instead benefit from the improved infrastructure projects the borrowed money will be used for. Immediately we affect infrastructure it has a cascading effect on the GDP and the living standards of the people.”

Atta Akyea was speaking on the sidelines of the official launch of Ghana’s largest multi sector international exhibitions.

The exhibitions will come off at the Ghana International Trade Fair Center from 6th September to 8th September.
The Exhibitions

Some of the exhibitions to look forward to include the 3rd PowerElec Ghana exhibition, 1st Ghana MINEXPO 2018, 2nd CONSTRUCT Ghana 2018, 2nd Ghana Motor Show 2018 and the 2nd Auto Parts West Africa 2018.

The PowerElec exhibition will focus on power generation, electrical and Industrial electronics, showcasing the potential of Ghana’s power sector and bring together international suppliers from across the world to Ghana.

Powerelec Ghana 2018 will bring together key decision makers from the government and corporate sectors and is the ideal platform for consultants and manufacturers keen to enter the thriving Ghanaian power market.

The Ghana MINEXPO 2nd Construct Ghana 2018 will on the other hand provide an exclusive platform for companies with the latest technology, equipment and new innovations which would demonstrate its strength and high quality of products across different vertical industries in the mining industry.

Local and international manufacturers will meet under one roof to take advantage of new products, to network and meet potential buyers in a specialized environment.

The 2nd Construct Ghana 2018 will provide an exclusive business platform for companies with the latest technology, equipment and new innovations which would demonstrate its strength and high quality of products across different vertical industries in the construction industry. Machinery and material manufacturers, local and international will meet under one roof to take advantage of new products, to network and meet potential buyers in a professional environment.

The Ghana Motor Show will also provide an exclusive platform for car dealerships, accessory companies, banks offering auto loans, insurance companies and all stake holders in this lucrative car industry to meet under one roof to take advantage of new products, to network and meet potential buyers face-to-face in a professional environment.

Last but not the least, the 2nd Auto Parts West Africa Show will feature automotive aftermarket manufacturers and suppliers showcasing innovative products, services in this lucrative car industry to potential buyers under one roof. A platform to network, discuss emerging trends, solve common problems and make connections with professionals from all areas of the automotive industry.

By: Bobbie Osei/citibusinessnews.com/Ghana

Citi Business News