[ 2017-05-09 ]

Joe Ghartey speaking at the function

Railway Minister woos investors
Minister of Railways Development, Joe Ghartey, has
encouraged foreign investors to consider investing
in Ghana’s infrastructural sector, especially
the country’s rail subsector.

Hon. Ghartey disclosed this while delivering a
keynote address on behalf of Vice President Dr.
Mahamudu Bawumia at the AI CEO African Pension
Wealth Fund Leaders’ Summit 2017 held in Durban,
South Africa under the theme, ‘Facilitating
Pension Fund Investment Partnership with African
Asset Owners.’

The summit was aimed at focusing on investment
strategies and governance and showcasing
institutional-grade opportunities and instruments
to de-risk and catalyse global and African
institutional capital.

According to the minister, there were huge
investment opportunities in the country’s rail
sector currently.

“In Ghana currently, our priorities in
infrastructure development include the rail sector
and the energy sector,” the minister said.

Ambitious Programme

Hon. Ghartey told investors that “the rail
sector has suffered neglect for a long time, and
in the words of President Akufo-Addo this neglect
of the rail sector is one of the tragedies of our
post-colonial development as a nation.”

“We intend to address this tragedy as a nation.
There are several opportunities in this sector and
in the next three and a half years we have
admittedly ambitious programme of constructing
approximately 1,200 kilometres of rail.”

“This programme of developing associated
infrastructure, including new industrial estates,
inland rail terminal, new suburban housing and
commercial centres all create opportunities for
investors,” he said.

According to Hon. Ghartey, the expansion of the
rail sector is economically viable and would also
transform Ghana from a lower middle income to a
first world country.

“Mining, agriculture and freight in Ghana, as
well as to landlocked countries north of Ghana,
assures the economic viability of the rail
network, he said.

He added that the building of a modern railway
network, coupled with our programme of developing
associated rail infrastructure under the programme
dubbed ‘From Stations to Cities’ which seeks
to take advantage of the rail network to bring
accelerated economic development to the rail
corridors will transform Ghana’s economy.

The minister explained that private sector
investment was crucial in bridging the
infrastructural deficit on the African continent.

“It is important therefore that clear strategies
are developed to attract African sovereign wealth
funds and pension funds for investment across
Africa,” he said.

Unfortunately, the pension sector in Africa is not
as large as it ought to be. With the exception of
South Africa, the African continent is on the
fringes of the global pensions industry.

According to the Global Pension Assets Study, the
10 biggest African markets have a combined asset
value of $37 billion.”

While Africa adopts measures to increase pension
penetration, it must also take steps to create an
enabling environment for other pension funds,
including US and Global Pension Funds and
institutional investors, he said.

Source - Dailyguideafrica.com

... go Back