Ghana Looking For Credible Airline Investors

Domestic Airlines
  • Ghana Looking For Credible Airline Investors

Ghana has announced its readiness to partner credible private investors in its new national air carrier project.

According to Mr. Joseph Kofi Adda, Minister of Aviation, the government is only interested in 10 percent shares as there is a conscious decision to ensure the company is not under state control.

“What we are looking at is not more than 10 per cent, that is the extent to which the government will be involved” he said in Accra.

“We will have one or two representation on the board, but the government or the minister will not interfere in the operations of the new company in terms of policy, strategy and operations.”

Adda, who was attending a stakeholder meeting on the establishment of a home-based carrier, explained that the event was to allow interested investors indicate their interest in terms of equity they are bringing, how they want to participate, and percentage of shares, among others.

“Ghana has travelled the road of having a national airline before. Indeed, more than once, Ghana Airways and Ghana International Airlines existed before, and we have learnt some lessons, and it goes without the saying that this time around, we would not repeat those mistakes.”

“We intend to get it right and the government will not attempt to be involved in owning and running an airline. This is not a government’s business”.

“The lessons from the past are very clear and we all know them. Ghana Airways and Ghana International Airlines were companies set up and dominated by the state, and that made it difficult for the board and chief executives to manage it independently.”

“The government was always interfering; telling them what to do and that was a real difficulty that we had in the past,” he stated.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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