The Government of Ghana has received €250 million from the Government of the Federal Republic of Germany to upgrade and expand the country’s electricity transmission infrastructure.
As part of Germany’s Compact with Africa programme, a memorandum of Understanding was signed by CEO of the Ghana Grid Company (GRIDCo), Mr Jonathan Amoako-Baah and a representative of Siemens, Sabine Dall’Omo.
The signing which took place at the Jubilee House in the presence of President Nana Akufo-Addo was to cement the agreement to help the boost power in Ghana while exporting to neighboring countries in West Africa.
Per the agreement signed, Ghana received a quarter of the €1 billion fund promised by the German Government to improve and stabilize Ghana’s electricity grid capacity.
Ghana officially becomes the first country in Africa to benefit from the programme which seeks to promote and increase attractiveness in private investment in West Africa through substantial improvements of the macro, business and financing frameworks.
Nana Akufo-Addo assured the delegation that the country will work with transparency and openness to ensure the project comes to a proper conclusion.
“We welcome that expression of confidence and we want to assure you that it is not one that we will abuse. We, on our part, are determined to work in transparency and openness with you, to make sure that this project comes to a proper conclusion.” he vowed.