Mahama, Qatari delegation discuss investment
President John Dramani Mahama has welcomed the quick response of the Qatar Investment Authority (QIA) - one of the world's largest wealth funds - to his invitation to businesses to invest in the power sector of Ghana's economy.
Advertisement
He said the positive signals coming out of discussions between the Qatari and their Ghanaian counterparts, including the Ghana Investment Promotion Centre (GIPC), gave hope for the future.
"I appreciate the response we are getting following the discussions we held in Qatar," he told a delegation from the QIA that was in the country to explore investment opportunities at a meeting at the Akosombo Hydroelectric Power station Wednesday.
President Mahama, who has set out a systematic plan to solve the power crisis confronting the nation, said the entry of the QIA would add to the plan to achieve energy sufficiency.
He said one of the key areas of the discussions he held with the authority in Doha was power.
That was so because of the shortfall in generation capacity, which had resulted in erratic supply to the people.
Qatar discussions
During his state visit to Qatar m November last year, President Mahama and the Emir of Qatar, Sheikh Tamim bin Hamad bin Khalifa Al-Thani, discussed a wide range of issues, including investment in Ghana.
The meeting between the two leaders was followed by another with the QIA members.
The QIA has, among its goals, been diversifying Qatar's surplus funds into long-term investment savings for future generations.
Currently, the fund has accrued more than $300 billion in reserves.
One of the future objectives of the authority is to create a more geographically balanced investment strategy and reduce its reliance on Europe by searching for new opportunities in Africa, Asia and the United States of America.
The Qatari delegation that arrived in Accra last Tuesday also looked at opportunities in infrastructure and the agricultural sector.
President Mahama, who later took the delegation on a cruise on the Volta Lake, said the Akosombo Hydroelectric ,r Power station, Ghana's main source of w power supply, was undergoing challenges due to the drop in the water level.
Other areas of investment
President Mahama said with food security being a major global issue it would not be out of place for the QIA to look at investing in the agricultural sector of Ghana.
He also informed the delegation about the planned development of Ghana's integrated aluminium industry and urged them to look at that area too.
Leader of delegation
The Leader of the delegation, Sheikh Faisal Bin Saoud Al-Thani, said the passion with which President Mahama sold Ghana in Qatar pushed them into paying the two-day visit.
He expressed the hope that the results I would be positive for both countries.
