World Bank to give Ghana $75m to develop an industrial park

World Bank to give Ghana $75m to develop an industrial park

Ghana’s Trade Minister Alan Kyeremanten says the country is due to receive $75 million from World Bank to develop industrial parks.
   
   
   
       
       
           
               
                   

Ghana’s Trade Minister Alan Kyeremanten says the country is due to receive $75 million from World Bank to develop industrial parks. 

               
           
               
                   

He made this revelation after commissioning the Dawa Industrial Zone developed by LMI Holdings in the Ningo-Prampram District.

               
           
               
                   

He said that the package is part of a new World Bank project known as Ghana Economic Transformation Project (GETP).

               
           
               
                   

According to him, the UK Department for International Development is also giving Ghana £20 million as part of efforts to create jobs through industrial parks.

               
           
               
                   

Mr Kyeremanten expressed optimism that industrial parks such as the Dawa Industrial Zone would attract the kind of investors that would open manufacturing plants and factories to create jobs for Ghanaians and value for the economy.

               
           
               
                   

Meanwhile, the Energy Minister Peter Amewu, who represented President Nana Addo Dankwa Akufo-Addo at the commissioning, said the Dawa Industrial Zone is an example of how local entrepreneurs can take advantage of the enabling environment to establish significant business opportunities and create jobs.

               
           
               
                   

In a related development, the Chief Executive Officer of LMI Holdings, Kojo Aduhene, was happy about the infrastructure the park provides for businesses to establish their factories, offices, and plants with no utility challenges.

               
           
               
                   

He further indicated that the Dawa Industrial Zone would go a long way to reduce the pressure on Tema since the company dreams of turning Dawa into a complete industrial city like Tema to support national development.

               
           
               
                   

“Since Kwame Nkrumah built Tema as an industrial city 60 years ago, there has not been anyone like it so we intend to start from Dawa and develop another industrial city,” he said.

               
           
               
                   

The newly commissioned 20,000-acre industrial park has a 330/34.5kV power substation, paved roads, water, internet connection, and several other facilities, which makes it easy for both existing and new businesses to set up within that zone without any hustle.

Source: World Bank to give Ghana $75m to develop an industrial park

- gist culled from pulseng