23.04.2005 Business & Finance

Ghana And Libya In Maxive Agricultural Project

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Ghana and Libya have completed a deal to start a massive mango, lime and soya beans plantations at Sogakope in the Volta Region. This is under a plan of action set by the Ghana Libyan Arab Holding Company (GLAHCO).

The project to be commenced this year would ensure that the products are semi processed into cakes for marketing in the Libya where huge market for the products has been secured

This was the outcome the quarterly meeting of GLAHCO held in the Libyan capital Tripoli. GLAHCO is a joint Ghana-Libyan Economic corporation which seeks to promote economic ventures in the two countries. Ghana currently chairs the company.

The Minister for Finance and Economic Planning, Mr. Kwadwo Baah Wiredu who led Ghana's delegation told newsmen in London that a large number of peasant farmers as well as corporate farming groups will be identified to produce in support of the project. This is because the GLAHCO farms to be established at Sogakope in the Volta region would not be able to meet the market demand in Libya.

He said the system would be just like the cocoa purchasing system where products are brought from farmers for sale by the government.

The meeting discussed the introduction of a Libyan financial institution in syndicating in the purchasing of cocoa in Ghana. 'This will also boost our plans for the project. Because they will also go into the purchasing of mango, soya beans and lime' Mr Baah Wiredu observed.

To this end, the Saharan Bank of Libya in the process of opening branches in Ghana with the first one in Accra. The bank's documentations are already with the Bank of Ghana for consideration and subsequent approval.

To further strengthen the financial corporation between the two countries Mr. Baah Wiredu proposed to the company for Libya to consider using some Ghanaian housing contractors in the planned huge housing project in Libya this year.

The North African country is embarking on a massive housing project to comfortably house several thousands of Libyans as well as foreigners who are not properly housed or have no accommodation at all.

He told the meeting that Ghana has competent as well as very well resourced housing contractors who can help in providing decent accommodation for the people of Libya.

Libya plans to use housing contractors from countries like Japan and the United Kingdom for the proposed housing project which is estimated to provide 20 thousand housing unit.

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