Business Analysts have questioned the inability of major players in the financial sector to fund key domestic projects in the country.
An aviation analyst told the B&FT newspaper: “Indeed, with the growing need for aviation infrastructure, banks operating in the country ought to build synergy to fund some of these projects that offer decent returns.”
This comes on the heels of reports that African Development Bank (AfDB) and South African bank ABSA are into talks with management of the Ghana Airports Company (GACL) to provide a US$150million loan facility for development of the proposed Ho and WA airports.
“Management of GACL just returned from South Africa to conclude arrangement for the additional US$150million, which looks favourable. ABSA and AfDB are to provide the funds,” Twumasi Ankrah-Selby, Chief Director of the Ministry of Transport said.
There have been calls to strengthen the banking sector to give them the leverage to undertake big-ticket transactions. However there are dissenting views as to whether it should be engineered by the central bank through deliberate policies or left to market forces.
President John Dramani Mahama today cut sod for the construction of the new airport in the Volta Regional capital of Ho.The move is said to fulfill a 2012 election pledge.
The event follows the official handing over of the site to the construction company working on the project Falcon Cres in April.
Work is expected to be done on the 1,500 acre land by December 2016, the company says.
By: Kasapafmonline.com/Ghana
