Ghana-German Economic Ties Receive Boost

The economic co-operation between Ghana and Germany received a further boost yesterday following the decision of the German Investment Development Corporation (DEG) to provide Millicom Ghana, operators of the Tigo cellular network 80 million US dollars for expansion.

The long term off-shore funding will see DEG making available 27 million US dollars out of the 80 million US dollars in addition to 60 million dollars that Millicom is to raise from local banks.

Dr Winfried Mengelkamp, an official of the German Ministry for Generations, Family, Women and Integration, announced the deal at the end of a two-day conference jointly organised by Ghanaian-German Economic Association (GGEA) and trade mission of the German Federal State of North Rhine-Westphalia which was in Ghana to explore joint venture opportunities.

The conference was aimed to initiate joint ventures between Ghanaian organisations and companies and others from the State of North Rhine-Westphalia.
Ghanaian Foreign Minister, Mr Akwasi Osei-Adjei and the Prime Minister of North Rhine-Westphalia signed a partnership agreement on November 5, this year to boost trade and economic relations between the two countries.

Dr Mengelkamp said the partnership would not be limited to telecommunications alone but it would also include tourism, agriculture and food processing. As a first step to implementing the partnership.   Dr Mengelkamp said the agreement would include the introduction of vocational training modules to complement those of Ghana Selected Ghanaian companies in the fields of civil construction, road construction renewable energies, metal works, carpentry and roofing would be entitled to send their staff to counterparts in North Rhine-Westphalia for professional training.

He noted that the booming Ghanaian economy needed the know-how and highly qualified personnel thus the initiative would lift the standards of non-academic but practical job education.

North Rhine-Westphalia is responsible for 25 percent of heavy industrial products in Germany.