Germany touts bilateral influence in Ghana as investments hit €1.6bn in decades

Dr. Stephan Oswald, Director General German Federal Ministry

The German government has invested more than €1.6 billion towards Ghana’s development in the last six decades, Director General for the German Federal Ministry of Economic Cooperation and Development, Dr. Stephan Oswald has said.

Speaking to Goldstreet Business during the 4th Ghana Renewable Energy Fair under the auspices of the Energy Commission in Accra, Dr. Oswald said the amount was a package that was channeled into the country’s key economy sectors including energy, agriculture, capacity building, and infrastructural growth.

“We have contributed €1.6 billion towards Ghana’s developmental purposes since 1956. That amount was spent in the face of agricultural, capacity building and training, energy sector and infrastructural development” Dr. Oswald said.

He said, the German’s government master plan with Africa, which Ghana is a signatory to, is aimed at facilitating employment and economic growth.

He explained, “the investment over the years has yielded results in such sectors of the economy.

Germany, Dr. Oswald noted, will keep investing in key development sectors of Ghana’s economy, most especially in the area of renewable energy.

Ghana’s vision

One key development area Dr. Oswald touched on as Ghana seeks to harness its renewable energy was the country’s vision to wane itself totally from aid.

To realize this vision, he explained it was important that government identifies opportunities and challenges in the area of renewable energy.

“Ghana is one of the three countries in Africa that have concluded its bilateral reform and master partnership with the German government today. “We as a ministry have supported throughout because it is the mission statement of my ministry to ensure that all development partners have been developed to be the trading partners” the Director General said.

Investment

Dr. Oswald explained that investors, including Germany are interested in Ghana and it was important government continues setting business friendly environment and implement the reform measures into context of the Compact of Africa.

By Dundas Whigham