Proparco Invests Over 200m Euros In Ghana

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Mr Laurent Farge, Proparco’s Regional Director for West Africa has disclosed that Proparco, a subsidiary of the French development agency, Agence Francaise de Development (AFD), has invested about 200 million Euros in various sectors of the economy of Ghana over the last five years.

Farge, who disclosed this at a press conference at the residence of the France Ambassador to Ghana in Accra,  adding that with this development, Proparco invested about 40 million Euros in various sectors every year, including the financial services, agribusiness and infrastructure, which represent over 70 per cent of the loan book in Ghana, as well as providing funding for six local banks in equity/tier II or senior debt to Cal Bank, SG Ghana, Fidelity Bank, Ghana Home Loans, HFC and Access Bank.

The support from Proparco also covers the electricity sector through involvement in the funding of the expansion of the Takoradi Power Plant.

He explained that in the area of agribusiness, the Ghana Rubber Estates Limited had received funding for the expansion of its plantations and to increase its plant production capacity.

The regional director was speaking as the head of a delegation of Proparco to the country to find out ways to develop Proparco’s support to the Ghanaian private sector.

While here, the delegation is expected to hold meetings with chief executives of private sector organisations and managers of investments to better understand the challenges in the sector and find potential investment opportunities.

He said Proparco intended to continue to expand its investments in Ghana and Africa in general.

He said while Proparco would continue looking for any project that was financially viable, with positive and sustainable development impacts, it would also focus on renewable energy and energy-efficiency projects.

 

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