The Government of Ghana, on Tuesday, 14th January, 2020, received, as part of Germany’s Compact with Africa programme, €250 million from the Government of the Federal Republic of Germany to upgrade and expand the country’s electricity transmission infrastructure.
The signing of the MoU has seen Ghana receive a quarter of the €1 billion fund put in place by the German Government to boost the private sector in Compact countries, of which Ghana is one.
Witnessing the event, the President of the Republic, Nana Addo Dankwa Akufo-Addo, described the signing ceremony as a very important development in the energy sector of the country, adding that “the people from GRIDCO know, as well as I do, how necessary it is to undertake this project – the retooling, and refitting of our transmission and grid system across the country”.
With Ghana being the first country in Africa to benefit from a significant transaction from the ‘Compact with Africa’ programme, the President indicated that this “is, in itself, a big vote of confidence by the German leadership and Chancellor Merkel and yourself, one of the great German companies, to work in our country.”
On his part, Mr. Joe Kaeser, President and Chief Executive Officer of Siemens AG, stressed that “the MOU will, together with our partner GRIDCO, modernize the whole grid of Ghana in steps, one at a time, and also organize the grids and bring the power to the people in a more efficient way. It will also help young people and train them and educate them for the future.”
“It is about showing them the way and on how to lead; and the first thing in this future in this vision is about electrification. It is about energy. The agreement is not only about supplying grids or products or solutions, it is about being a proud, responsible and an honoured partner to Ghana, and to the Ghanaian people, so that we can build this country for the future,” the Siemens President added.