Ghana-China deal: We have a roadmap beyond its mandated four years – Oppong Nkrumah

Kojo Oppong Nkrumah, Information Minister Designate

Information Minister Designate, Kojo Oppong Nkrumah, has affirmed government is looking beyond its mandated four years of sustainable development plans that will benefit the nation for years to come.

According to him, government has a roadmap to ensure that the Akufo-Addo led administration’s recent trip to China doesn’t end with 8 Memorandums of Understanding (MoUs).

“We have come up with a plan, not just for the four years, but a plan which we hope can extend to the next seven to eight years,” he revealed.

‘’It is a logical decision to do business with the Chinese. The question is, what are the risks and how can you mitigate them and still get value?’’ he quizzed.

The Minister speaking at the second edition of the Citi Business Forum themed; ‘’After China, What Next’’ in Accra said government has put in place a risk management team made up of persons who are familiar with the Sinohydro experience.

‘’In the Sinohydro deal, we have set up an aluminium corporation that will mine and process bauxite. The proceeds of that are what we will use to retire the US$2 billion worth of work that has to be done.’’

Panelists at the event

He said the Ghana Roads and Highways Authority has valued some roads that will be constructed under the Sinohydro deal to make sure that we get the value that we need.

China’s Sinohydro Group Limited, in a deal with Ghana is expected to provide US$2 billion of infrastructure; including roads, bridges, interchanges, hospitals, housing, rural electrification, in exchange for Ghana’s refined bauxite.

By Mawuli Y. Ahorlumegah