Home News Africa Ghana secures US $425m for developmental projects

Ghana secures US $425m for developmental projects

The government of Ghana has secured US $425m from the UK for the implementation of various developmental projects in the country. The amount was acquired during the recently held United Kingdom (UK)-Africa Investment Summit as investment monies for projects including roads and water systems.

According to the Minister of Information, Kojo Oppong Nkrumah, the money is part of an over US $8.5bn package earmarked for the development of 27 various projects in Africa to be undertaken by UK companies. “Out of the US $425m, US $34m will be used for water filtration systems which would be initiated by Aqua Africa, the Tema-Aflao road, will be expanded with US $104.2m while US $52.1m will be for the construction of the Kumasi Airport; and US $156.3m for the rehabilitation of some deplorable buildings at the Komfo Anokye Teaching Hospital (KATH),” he explained.

He futher added that, other institutions like the Koforidua Hospital will also benefit from the investments in terms of training and expansion. “US $78.1m will be invested in the expansion of Koforidua Hospital, to make it a teaching hospital and a training centre for medical doctors”, he affirmed.

Also Read: UK to invest over US $65.7m into renewable energy projects in Africa

(UK)-Africa Investment Summit

The (UK)-Africa Investment Summit which was hosted by the Prime Minister and brought together businesses, governments and international institutions inorder to showcase and promote the breadth and quality of investment opportunities across Africa. The Summit was also meant to strengthen the UK’s partnership with African nations to build a secure and prosperous future for all citizens. It involved mobilisation of new and substantial investment to create jobs and boost mutual prosperity.

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