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30.08.2005 Business & Finance

GPHA pays 35 billon cedis dividend


Accra, Aug. 30, GNA - Government on Tuesday received a total of 35 billion cedis as dividend from the Ghana Ports and Harbours Authority (GPHA).

The two separate cheques; comprised 25 billion cedis dividend for 2004 and a 10 billion cedis as interim dividend for this year. Mr Brain Adomako, Board Chairman of the GPHA, said the relative stability and peace Ghana was enjoying had given it advantage and greater prospects over its competitors in the ports and harbour industry.

He said such advantages must be maintained through Government's support and encouragement, adding that the GPHA was currently embarking on a 70 million-dollar expansion programme that would enable it to position itself for the challenges of the growing market challenges in the West African sub-region.

"Today, due to the problems in Lom=E9, (Togo,) and other countries in West Africa, most countries are using Ghana's ports, which means that the market keeps expanding so we must brace ourselves for it," Mr Adomako said.

He said there was the need to deepen the berthing area at the ports to enable bigger vessels with heavy containers to berth safely. Mr Kwadwo Baah-Wiredu, Minister of Finance and Economic Planning, thanked GPHA and said Government was satisfied with the company's operations so far.

He agreed that Ghana had advantage over her neighbours saying "the GPHA is now a multi-national company since Niger, Mali, Burkina Faso and others are using Ghana's ports".

Mr Baah-Wiredu announced that an agreement to improve operations at the sub-regional ports and harbours have been reached with the World Bank and International Monetary Fund.

He pledged government's commitment to support the GPHA with technical assistance and help it to realise the objectives of its expansion programme.