• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Gov’t taps GIIF to construct Agenda 111 hospitals, others

2 years ago
in Business, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
93
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Gov’t taps GIIF to construct Agenda 111 hospitals, others

The Government is banking its hopes on its investment vehicle; Ghana Infrastructure Investment Fund (GIIF) to help invest and construct one of the ruling NPP’s administration flagship project, -Agenda 111 hospitals in remote areas of the country, Finance Minister, Ken Ofori-Atta has revealed to parliament.

According to the minister, the government has already transferred GHS 1,695,524,797as at the end of March 2023 towards this project.

As a hundred percent (100%) GoG-owned investment vehicle with strong technical skills and expertise,   GIIF   offers government opportunities to help execute its infrastructure agenda. 

Towards this, he said “GIIF is exploring avenues to execute the following commercially sustainable solutions: a) Health sector (Agenda 111): The government has requested that GIIF  assist in the flagship project to construct 111 District and regional hospitals.  GIIF’s role will be to help ensure administrative and project management  efficiencies as well as payment integrity throughout the process.”   

The finance minister announced in a statement read on his behalf by the Minister of State at the Ministry of Finance, Dr Amin Adams, on the floor of Parliament on Tuesday.

He was responding to a question posed by the MP for Tolon, Habib Iddrisu, who enquired from the minister how much has been realized from the Ghana Infrastructure Investment Fund (GIIF) which seeks private sector investments for infrastructural development, and what material gains and projects can be identified as products of the Fund. 

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

“we will continue to reposition GIIF to play its strategic role and advance the mission to transform the infrastructural landscape of the country,” he noted.

The Fund is a permanent capital investment vehicle, initially capitalized at  US$250  million, with a   mandate to identify,   develop,   mobilize, and manage investments in a  diversified portfolio of infrastructure assets in Ghana, in a profitable and sustainable way. 

It was initially structured to receive annual allocations from the  GoG budget (VAT  and ABFA).

GIIF is flexible in the instruments of financing it can use, from equity to debt,  and any other hybrid instrument.  

Since 2017, the government have continued to support efforts in raising capital for GIIF. The total ABFA received to date is  US$75  million.  

GIIF has also received an additional US$20m from the Government of Ghana at the end of 2021 to support specifically,  the purchase of shares in the African  Finance Corporation   (AFC).   Hence total fund size is now   US$345m. 

The government has also supported GIIF to secure: US$85m from the French Development Agency (AFD); US$75m from African Development Bank (AfDB); GHS  1,695,524,797from  ABFA  to  support Agenda 111:( already transferred); US$380m from    ABFA    (earmarked)    for    Tema-Accra motorway Construction

Only last month, it was disclosed by Information Minister, Kojo Oppong Nkrumah, that 88 hospitals out of ‘Agenda 111’ are currently under construction.

The project, which involves the construction of 111 hospitals, was inaugurated by President Nana Akufo-Addo on August 17, 2021, with a promise to complete the work within 18 months.

GIIF  has used its initial funds very efficiently and in a  very short time,   has committed US$332 million in a   portfolio of 13 infrastructure projects in seven different sectors, including airports, seaports,  ICT,  energy,  hospitality,  mining, and recently affordable University accommodation.

Tags: Agenda 111 hospitalsGIIFGov’t taps GIIF to construct Agenda 111 hospitalsothers
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.