$ 2 billion China Loan: Chamber of Commerce Urges Gov’t to negotiate more Tech Transfer

china loan

Chairman of the Western Region Chamber of Commerce Stephane Abbas Miezah has urged government to negotiate more for technological transfer in the deal with China in the close to 2 billion dollar funding for the One-District-One-Factory project.

He also warned government against using cash receipt from the deal to shore up the cedi since that has proven unsustainable since it stimulate an import based economy as against manufacturing, value addition and export which has far richer effect on the economy.

Mr Miezah says the transfer of technology would allow for better utilisation of the vast resources of the country while adding value to these resources and also creating jobs to expand the economy. His comments comes at the back of the signing of an MOU between Ghana and China that would see the latter  providing funding worth up to 2 billion dollars between a number of Ghanaian commercial banks and the private sector.

However some Ghanaians were concerned the deal failed to seek parliamentary scrutiny and approval. But Mr Miezah told XYZ News’ Joe Bright Nyarko that it was not too late for government to table the deal before the house for ratification.

“I will believe that having gone sign that MOU, we would have to now bring it to parliament for ratification; it comes to parliament and the people’s representatives think that it would not help us, obviously I’m sure that they would ratify it” he said.

The Takoradi based businessman also warned against politicisation of the disbursement of funds which would be a setback to the intended boost for the private sector saying that: “it shouldn’t be that because NPP has come, those known in the NPP are the people who can access the money”.

He further noted that: “if he belongs to any political divide and whatever he is doing is going to benefit that nation he should be able to access it because what he is going to do would benefit the nation and that is key.”

There are also sections of the business community who are calling for a free credit to stimulate the private sector for the needed growth. But the Chairman of the Western Region Chamber of Commerce believes things of this nature should not be free but rather these businesses should bargain for low interest rates.

By: Joe Bright Nyarko

Publish on Apt

Do you have any Social, informational, educational or entertaining stuff that should be featured on www.aptnewsghana.com?

Please submit your stories, pictures, and videos to us via WhatsApp: +233548388489 or click on the icon on your screen. Alternatively, email us: aptnewsghana@gmail.com

RSS APO Group – Africa-Newsroom: latest news releases related to Africa

  • Silkbank Goes Live with Temenos Infinity to Supercharge Digital Banking in Pakistan July 29, 2021
    Download logoPakistan’s Silkbank reimagines digital banking for retail and business customers with AI-powered Temenos Infinity to accelerate adoption, build engagement and drive market growth; digital banking powered by Temenos Infinity will help Silkbank to attract and retain customers and drive customer growth. Temenos (SIX: TEMN), the banking software company, today announced that Silkbank, a leading […]
  • Coronavirus - Malawi: COVID-19 Daily Info Update (28 July 2021) July 28, 2021
    New cases: 629 Cumulative Confirmed Cases: 50,381 Active Cases: 11,392 Total Recovered: 37,196 (318 New) Currently Admitted in Treatment Units: 395 (54 New) New Discharges from Treatment Units: 38 Total Test Conducted: 330,033 (3,244 New) Total Deaths: 1,561 (21 New) Total Vaccinated First Dose: 410,724 (25,391 New) Total Vaccinated Second Dose: 93,471 (50,395 New) Distributed […]
  • Coronavirus - Ethiopia: Covid-19 Reported Cases (28 July 2021) July 28, 2021
    Daily:                                                                  Laboratory Test: 5,093   Cases:233                                                         Severe Cases: 225                                          New Deaths: 2                                                Recovery: 98                                                                                                                Total: Laboratory Test: 2,999,679 Active Cases: 11,709       Total Cases: […]
  • Coronavirus - South Africa: Covid-19 Statistics for Republic of South Africa (28 July 2021) July 28, 2021
    A total of 71 061 tests were conducted in the last 24 hrs, with 17 351 new cases, which represents a 24.4% positivity rate. A further 520 related deaths have been reported, bringing total fatalities to 70 908 to date. Distributed by APO Group on behalf of National Institute for Communicable Diseases, South Africa (NICD).Media […]
  • President Obama Joins NBA Africa as a Strategic Partner July 28, 2021
    The video below is copyright free and can be used at will, without asking for authorization[youtube https://www.youtube.com/watch?v=rcokSGkV8v4&w=854&h=480]Watch the video: https://www.youtube.com/embed/rcokSGkV8v4Read the full press release: bit.ly/3i938sI Distributed by APO Group on behalf of National Basketball Association (NBA).Media filesDownload logo
  • Coronavirus - Eritrea: Announcement from the Ministry of Health (28 July 2021) July 28, 2021
    Twenty-two patients have been diagnosed positive for COVID-19 in tests carried out today at Quarantine Centers in the Central, Anseba, Northern Red Sea, Gash Barka, and Southern Regions. Out of these, ten patients are from Quarantine Centers in Asmara, Central Region. Six patients are from Quarantine Centers in Keren (4) and Geleb (2); Anseba Region. […]
  • Supporting international non-governmental organisations to promote tax transparency and sexual and reproductive health and rights in developing countries July 28, 2021
    Download logoThe Ministry for Foreign Affairs has granted EUR 17 million to international non-governmental organisations (INGOs) for 2021–2024. The support was granted to five organisations for their work on promoting sexual and reproductive health and rights (SRHRs) worldwide, and especially in Afghanistan, and for strengthening tax transparency in sub-Saharan Africa. The funding has a significant […]
  • Somalia: Climate change and conflict threaten herders July 28, 2021
    Download logoConflict and the growing climate crisis are pushing herders in Somalia to abandon their way of life, the International Committee of the Red Cross (ICRC) has warned. Erratic weather patterns, droughts and floods have taken their toll on Somali pastoralists, while conflict, COVID-19 and the recent locust infestations have made matters worse. Stark new […]
  • UNMISS, partners continue to provide protection and support to displaced people in Tambura July 28, 2021
    “I was caught completely by surprise when armed attackers started shooting and burning our homes to the ground in my village,” reveals Victoria Miidie, a mother of seven. Victoria is from Tinakpuro, a village in the greater Tambura area of Western Equatoria, which is currently beleaguered with conflict. “I immediately ran to Tambura town and […]
  • USAID Advances the Prosper Africa Build Together Campaign July 28, 2021
    Download logoThis week, U.S. Agency for International Development (USAID) Administrator Samantha Power helped to kick off the Prosper Africa Build Together Campaign at the Corporate Council on Africa’s U.S.-Africa Business Summit. As announced by Special Assistant to the President and National Security Council Senior Director for Africa Dana L. Banks and reinforced by Department of […]
About Editor 618 Articles
Joe Bright Nyarko Journalist/Communication Researcher. Environment & Sustainability Advocate. Managing Editor of aptnewsghana.com, a non-profit news portal with bias towards environment and sustainability issues, rural development policies and gender & inequality.