Turkish Association To Invest $1.5 billion In Ghana

A Turkish investment association, MUSAID, is to invest $1.5 billion in Ghana’s economy. Consequently, a high-powered delegation of the association is expected in the country by the end of this month to firm up agreements with the government regarding the investment. The Vice-Chairman of the association responsible for Foreign Trade, Mr Mutlu Bozkurt, made this known when he led a business delegation to meet the Vice-President, Mr Kwesi Bekoe Amissah-Arthur, on the sidelines of the 16th Eurasia Economic Summit in Istanbul, Turkey. The summit is organised annually with the objective of enhancing relations among the European Union, countries in Central Asia, as well as those in the Middle East. Established in 1990, MUSAID has more than 5,000 businesses across the world, with offices in 52 countries. Mr Bozkurt said the association was determined to invest in Ghana, particularly in the areas of energy, housing and infrastructure. He said one of the major problems with investing in Ghana was finance, adding that the association was looking forward to solving that problem through its foreign partners. Responding, Mr Amissah-Arthur said Ghana’s infrastructure requirement was huge and lauded the Turkish association for its foresight. On energy, he explained that there was a national demand in that area that private companies could take advantage of and invest in to deliver power to the people. He said currently some independent power producers had taken up the challenge and were doing well to meet the nation’s power requirements. While underscoring the need for private investors to also direct their attention to the housing sector, Mr Amissah-Arthur said the country had a deficit in the housing sector, hence the need for investment in that area.