Ghana, Germany strike three trade deals, including a VW automobile plant

Google+ Pinterest LinkedIn Tumblr +

 

Ghana and Germany yesterday signed three memoranda of understanding (MoUs) for the establishment of an automobile assembly plant, the supply of technologies for the construction of a hybrid solar/hydro power plant and the supply of technologies for the construction of a vaccine factory in the West African nation.

The deals were sealed during the visit of German Chancellor, Dr. Angela Merkel to Ghana on Thursday. The First of the deals involves the supply of technologies for the construction of the vaccine factory by German companies Robert Bosch Packaging Technology GmBH and ASPIRx.

The second MoU for the establishment of an automotive assembly plant in Ghana was signed between Volkswagen, (VW) and Ghana’s Ministry of Trade and Industry.

Voith Hydro Holding GmBH & Co. KG and Tabacon Limited signed the third agreement to supply technologies for the construction of a hybrid solar/hydro power plant in Ghana.

Before the signing of the MoUs at a ceremony in Accra, President Nana Akufo-Addo and the German Chancellor, Angela Merkel, had held bilateral talks at the Jubilee House, Ghana’s presidential palace.

The talks, held behind closed doors, are believed to have centered on, among other issues, economic cooperation between the two countries.

Her visit, the first by a German Chancellor to Ghana since 2004, was part of her three-nation West African tour. She was accompanied by a number of German officials and investors.

Financial support

From 2009 to 2015 Ghana benefitted from 260 million euros in technical and financial support from the German government.

Recently, Germany signed a partnership agreement with Ghana for a 100-million euro support for the promotion of private investment and sustainable development.

Joint press conference

At a joint press conference after the bilateral talks, Chancellor Merkel said the assembly plant and the support for the construction of a vaccine factory and the hybrid solar/hydro plant were part of efforts by Germany to support Ghana’s industrialization drive and the Ghana Beyond Aid agenda of President Nana Akufo-Addo.

She said although the Ghana Beyond Aid agenda was not an easy journey, she was confident that with the current determination and capabilities of the people, Ghana would be able to attain that vision.

The German leader said she came along with a large team of investors who were interested in opening companies and forming joint partnerships in Ghana.

She said those companies that already had footprints in Ghana would also like to expand to provide job opportunities and improve the economy.

Reacting to the President’s call for investment to improve infrastructure in Ghana, especially in the rural areas, she gave an assurance that Germany was ready to assist Ghana to build its infrastructure and shape its energy sector to be efficient in adapting to new challenges.

The German leader had already visited Senegal and was scheduled to visit Nigeria after her one-day visit to Ghana.
 

Share.

About Author

Leave A Reply