The Ghana Maritime Authority (GMA) has embarked on an ambitious infrastructural project to enhance its operational capacity by constructing a new head office in Accra, along with two additional branches in Tema and Takoradi.

To finance this significant development, the Authority is seeking a $45 million loan facility from Ecobank Ghana Ltd.

In March 2019, the GMA's Senior Finance Officer, Abena Serwaa Annor, led the financial planning and analysis efforts to secure the loan.

The project, which is set to span three years, aims to address the growing need for adequate office spaces to support the Authority's expanding operations.

"The Ghana Maritime Authority has been operating without dedicated office buildings across its branches for nearly two decades. This loan will enable us to construct modern facilities that meet our operational needs and allow us to expand our services," said the Director-General of the Ghana Maritime Authority.

Abena Serwaa Annor, the Senior Finance Officer spearheading the financial aspects of the project, emphasized the thorough planning and strategic approach taken to secure the loan. "Our team developed detailed financial projections, including cash flow statements, income statements, and balance sheets, to demonstrate the viability of this project. We carefully assessed potential risks and formulated strategies to mitigate them, ensuring that the construction of these complexes is completed within budget and on time," she explained.

The new head office in Accra, along with the branches in Tema and Takoradi, will significantly enhance the Authority's capacity to manage maritime activities across the country.

The Director-General added, "These new facilities will not only provide much-needed office space but will also position the Ghana Maritime Authority to better serve the maritime industry and contribute to the overall economic growth of Ghana."

The construction is expected to be completed within three years, with the new facilities offering state-of-the-art amenities to support the GMA's mission of promoting safe, secure, and efficient maritime operations in Ghana.