GIIF CEO appeals to ambassadors to support  infrastructure drive

The Chief Executive Officer (CEO) of the Ghana Infrastructure Investment Fund (GIIF), Nana Dwemoh Benneh, has appealed to the newly-sworn in ambassadors and high commissioners to champion investment opportunities into Ghana in a bid to addressing the country’s infrastructure needs.

He urged the diplomats to tap into the network of investors in their respective missions to facilitate engagements with GIIF to provide the platform to showcase investment opportunities across various sectors in Ghana.

Mr. Dwemoh made the call when a delegation of  10 ambassadors and high commissioners paid a visit to GIIF as part of an infrastructure investment and financing stakeholders’ consultative engagement arranged by Platinum Equities Ltd.

GIIF, the country’s sole Sovereign Wealth Fund, is mandated to mobilise, manage, coordinate and provide financial resources from both the domestic and international capital and financial markets for investments in a diversified portfolio of infrastructure projects in Ghana for national development.

Mr. Benneh highlighted the fund’s achievements in the last 10 years, noting that it has committed US$365million in 13 transactions in its diversified infrastructure asset portfolio with a total cost of about US$3.60billion.

He said GIIF is commercially focused and seeks to generate market returns for its investors and stakeholders. The fund uses flexible instruments of financing, from debt to equity, including setting up sub–funds, special purpose vehicles (SPVs), strategic partnerships, long–term off–take arrangements, among others.

Mr. Benneh assured the delegation of the fund’s readiness to work with their respective missions to attract the needed foreign investments to transform the economy of Ghana.

The delegation included Ghana’s High Commissioner to the United Kingdom (UK), Sarah Zuta Benson; Prof. Ohene Adjei to Germany; Grace Marabe, Dubai; Dr. Margaret M. Chebere, Denmark; Ben B. Assorow, Holy See – Vatican; and Dr. Kwame Ampofo, Hungary.

Other members of the delegation include Kwesi Ahwoi, Serbia; Kojo Bonsu, China; Kulsoume Sinare Baffoe, Malta; and Theresa A. Mensah, Czech Republic.

Per the Global Infrastructure Hub index, Ghana scores 47 out of 100, below the average of lower-middle-income countries. The rating underscores under investments in critical infrastructure needs of the country across various sectors over the years, and the urgent need to ramp up investments to addressing the country’s infrastructure gap which requires about US$45billion by 2040.

The post GIIF CEO appeals to ambassadors to support  infrastructure drive appeared first on The Business & Financial Times.

Read Full Story