$ 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

  • Coronavirus - Rwanda: COVID-19 update (21 January 2021) January 22, 2021
    Total cases: 12,170 (+310) Recovered: 7,973 (+161) | 65.5% Active cases: 4,035 Tests: 812,943 (+4,359) Deaths: 162 (+9) | 1.3% Test positivity rate: 7.1% Distributed by APO Group on behalf of Ministry of Health, Republic of Rwanda.Media filesDownload logo
  • How Somalia, one of the world’s most fragile states, is working for a more resilient, low-carbon future January 22, 2021
    Download logoIn February last year, Somalia was in the midst of a declared national emergency. Swarms of locusts, fed on rains driven by climate change, were steadily eating their way through swathes of crops and grasslands, consuming jobs and food supplies in the process. As a result, the already-fragile country was facing yet another devastating […]
  • Coronavirus - South Africa: COVID-19 update (21 January 2021) January 22, 2021
    Tests conducted: 7,820,613 Positive cases identified: 1,380,807 Total recoveries: 1,183,443 Total deaths: 39,501 New cases: 11,381Distributed by APO Group on behalf of Republic of South Africa, Department of Health.Media filesDownload logo
  • Coronavirus - Ethiopia: COVID-19 update (21 January 2021) January 22, 2021
    Daily: Laboratory test: 3,945 Severe cases: 225 New recovered: 653 New deaths: 13 New cases: 292 Total: Laboratory test: 1,903,582 Active cases: 12,261 Total recovered: 118,006 Total deaths: 2,057 Total cases: 132,326 Distributed by APO Group on behalf of Ministry of Health, Ethiopia.Media filesDownload logo
  • African Development Bank (AfDB) President Akinwumi Adesina’s Speech at the Federal Inland Revenue Service Tax Dialogue January 21, 2021
    Download logoBy Akinwumi Adesina, President of African Development Bank (www.AfDB.org) Your Excellency, President Muhammadu Buhari, GCFR, President of the Federal Republic of Nigeria Your Excellencies, Governors, Excellencies, Ambassadors Honorable Ministers Chairman of the Federal Inland Revenue Service, Muhammad Nami Distinguished Ladies and Gentlemen I would like to wish you Mr. President and all of Nigeria a Happy […]
  • Coronavirus - Uganda: COVID-19 update (20 January 2021) January 21, 2021
    Results of COVID-19 tests done on 20 January 2021 confirm 178 cases. The cumulative confirmed cases are 38,806. 11 COVID-19 deaths reported have been investigated and confirmed. The deaths are reported from various parts of the country Distributed by APO Group on behalf of Ministry of Health - Republic of Uganda.Media filesDownload logo
  • Coronavirus - Zambia: COVID-19 update (20 January 2021) January 21, 2021
    As of 20th Jan 2021, in the last 24 hrs, we had 1,434 new cases (out of 11,179 tests), 1709 recoveries & 7 new deaths [MTSRIP].Distributed by APO Group on behalf of Zambia National Public Health Institute (ZNPHI).Media filesDownload logo
  • Coronavirus - Kenya: COVID-19 update (20 January 2021) January 21, 2021
    Download logo136 people have tested positive to the disease, out of a sample size of 3,787 tested in the last 24 hours. The total confirmed positive cases are now 99,444. The cumulative tests so far conducted are 1,134,494. 176 patients have recovered from the disease. 162 from the Home-Based Isolation and Care, while 14 are […]
  • OUT NOW! 2ND edition of “Billions at play” outlining the road to recovery for the African Oil and Gas Sector, post Covid-19 January 21, 2021
    As we step into the second year of the pandemic, the question at hand, globally is, how are we going to recover from the Covid-19? In the 2nd edition of “Billions at play: The future of African Energy and Doing Deals”, NJ Ayuk, provides some insight on how leaders and investors can build success from […]
  • Coronavirus - Ethiopia: COVID-19 update (20 January 2021) January 21, 2021
    Daily: Laboratory Test: 4,085 Severe Cases: 232 New Recovered: 961 New Deaths: 7 New Cases: 307 Total: Laboratory Test: 1,899,637 Active Cases: 12,635 Total Recovered: 117,353 Total Deaths: 2,044 Total Cases: 132,034Distributed by APO Group on behalf of Ministry of Health, Ethiopia.Media filesDownload logo
About Editor 608 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.