• 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 Banking & Finance

Private sector can support government reduce infrastructure deficit – Richard Kokoih

5 years ago
in Banking & Finance, Business, highlights, Home, home-news, latest News, Real Estate
2 min read
0 0
0
145
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

The Head of Client Coverage at First National Bank Ghana, Richard Kokoih, has stressed the need for government to work closely with the private sector to reduce the country’s infrastructure deficit.

According to Mr. Kokoih the government must see the private sector as a critical partner in its infrastructure development projects, which should follow the public-private partnership (PPP) model for funding and execution.

He says: “The use of PPPs allow the state to minimize costs, shift development risk and managerial responsibility, and attract investment. Infrastructure by its nature stimulates growth and jobs, and boosts GDP while creating lasting benefits to communities.”

Speaking in an interview, Mr. Kokoih said a focus on infrastructure development can help boost the economy in the post-Covid-19 era.

“Infrastructure spend has a strong multiplier effect on the economy in general,” he said. “People need to design, build, finance, operate and maintain these projects for a long time. In particular, some Public Private Partnerships (PPPs) projects have been successful in Ghana, and there is scope to leverage the lessons learnt to drive strategic infrastructure projects which have high requirements for manpower.”

Mr. Kokoih also commented on the Ghana Investment Infrastructure Fund (GIIF), a corporate body wholly owned by government, set up in 2014 with a mandate to invest in infrastructure projects. Its duty is to mobilize, manage, coordinate and provide financial resources for investment in a diversified portfolio of infrastructure projects in Ghana for national development.

Addressing Ghana’s infrastructure challenges will require annual infrastructure expenditure of about $2.3 billion. The country currently spends about $1.2 billion per year on infrastructure with a $1.1 billion gap, which needs to be addressed for accelerated growth and national development.

RelatedPosts

African Airlines Record 9.4% Growth In Air Cargo Demand In July 2025 – IATA

South African President Ramaphosa Launches G20 Taskforce to Tackle Global Wealth Inequality Amid US Absence

Burkina Faso’s Nationalization Rattles West Africa’s Gold Sector

Mr Kokoih said: “We don’t have much time to get things moving. We need to be bold. GIIF among others is expected to focus on sectors such as energy, eco-tourism, education, affordable housing and waste water management. But we need to ensure priority is given to those projects which improve the lives of many people. The private sector needs to be consulted too as they stand ready to help.”

He emphasised the point that the government should not try to assume the full burden of infrastructure spending. The financial sector, he said, is able and willing to support efforts to improve infrastructure in the country.

This, he pointed out, is one key way for government to leverage its available debt capacity, which is quite limited.

According to him, banks, especially the First National Bank, a subsidiary of the FirstRand Group of South Africa, have dedicated infrastructure financing teams as well as the expertise to help government and related entities like GIIF achieve its goal.

“Greater momentum can be achieved if government partners the financial sector,” he stressed.

In March this year, the International Monetary Fund (IMF) said that despite Africa having very high levels of debt, it should ‘spend’ its way out of economic malaise by expanding fiscal deficits to counter the impact of the Coronavirus pandemic.

“It’s an unusual advice from the IMF,” Mr. Kokoih says, “but investing in lasting infrastructure is much better than just spending for the sake of it.”

Source: First National Bank Ghana
Via: norvanreports
Tags: COVID-19 pandemicFirst National Bank GhanaGIIFHousing DeficitPublic Private PartnershipRichard Kokoih
No Result
View All Result

Highlights

Experts Talk BoG’s New Currency Controls & Crackdown on NPLs on NorvanReports’ X Space Discussions Tonight

Piastri Claims Pole Position in Thrilling Dutch Grand Prix Qualifying

US Open: Osaka, Alcaraz, Djokovic Shine as Gauff Joins Them in Last 16

Morocco Beat Madagascar to Secure Historic Third CHAN Title

$41bn Reserves vs Empty Pockets: When Will Relief Come For Nigerians?

Africa Emerges as Manufacturing Haven Amid US–India Trade Tensions

Trending

Aviation

African Airlines Record 9.4% Growth In Air Cargo Demand In July 2025 – IATA

August 31, 2025

African Airlines Record 9.4% Growth In Air Cargo Demand In July 2025 – IATA African airlines saw...

South African President Ramaphosa Launches G20 Taskforce to Tackle Global Wealth Inequality Amid US Absence

August 31, 2025

Burkina Faso’s Nationalization Rattles West Africa’s Gold Sector

August 31, 2025

Experts Talk BoG’s New Currency Controls & Crackdown on NPLs on NorvanReports’ X Space Discussions Tonight

August 31, 2025

Piastri Claims Pole Position in Thrilling Dutch Grand Prix Qualifying

August 31, 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.