China’s One Belt, One Road Project to strengthen trade in Ghana

China’s One Belt, One Road Project to strengthen trade in Ghana
Source: Bismark Awusah | JoyBusiness
Date: 27-11-2017 Time: 05:11:50:pm

Some representatives for China’s Belt and Road Initiative are in Ghana to strengthen trade ties between the two countries to enhance the level of infrastructural development in Ghana and the African continent.

The initiative, for about four years now, has contributed to some infrastructural developments in the country. These include the Ghana Gas and Port expansion projects. 

Members of the execution team currently in Ghana have met with representatives of some Chinese businesses operating in the country to deliberate on how to further strengthen ties with Ghana. 

The Chinese are currently involved in many projects and businesses in the country. The Belt and Road Initiative also known as One Belt, One Road is aimed at improving trade and investment, as well as enhance infrastructural connectivity across Asia, the Middle East, Europe and Africa. Among their activities are constructions of railways, highways and ports as well as building industrial parks. 

Africa accounts for a large percentage of the Belt and road-related projects. Standard Chartered Plc has been the go-to bank for facilitation of the initiative.

Speaking to JoyBusiness in an interview after a media briefing, Executive Director of the Belt and Road Strategy Execution Team for Standard Chartered Bank China, Sebastian Er, said “from the broad perspective, we are looking at the 21st century maritime equivalent of the Silk Road. So it’s a network of ports and coastal infrastructural projects. Basically, that’s a high level of what Belt and Road is about: it’s about connectivity.”

With respect to how Ghana stands to benefit, Head of Global subsidiaries for Standard Chartered Bank Ghana, Jerry Agyeman-Boateng said “Increasingly we see a lot of Chinese investments flowing into emerging markets and Ghana being a key player within Africa. If you look at the port construction, it’s a Chinese company that is undertaking this project…”

“This has been ongoing for about four years it is not new. The presence of the team in Ghana really is to bond with the Chinese companies on the market and to reassure them that our network, indeed the standard chartered network is here to support their business growth in Ghana.”

The initiative hopes to accomplish various infrastructural projects in the country.


Have your say  

More Business Headlines

What others are reading
 ‘Sack Ursula’: MP urges after ‘rude’ letter to BoG Secretary
MultiChoice clean sweep at Africa TV industry Awards