Ghana Signs €250m Electricity Deal With Siemens

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  • Ghana Signs €250m Electricity Deal With Siemens

Ghana on Wednesday signed a €250 million electricity deal with a German company, Siemens, to upgrade its national grid.

Present at the signing of the Memorandum of Understanding (MoU) was Ghanaian President, Nana Akufo-Addo and the President and Global Chief Executive Officer of Siemens AG, Joe Kaeser.

According to the joint statement released by Siemens and the Ghana Grid Company Limited, the two companies will work to upgrade and extend Ghana’s transmission infrastructure, improve the country’s grid capacity and stability, enable and expand a stable power export to neighbouring nations in West Africa region.

Kaeser said, “Access to electricity is an imperative need for the people and business and, thus, for economic success of any economy. As Ghana has significantly invested in generation capacity, there is now an urgent need to build a reliable, affordable and sustainable electrical network for the country and its people.

“With our proven and unique end-to-end electrification solutions, our expertise and reliability, Siemens can be a technology partner and help the country achieve its objectives.”

Akufo-Addo administration has been pushing to transform Ghana, both economically and socially, to ensure the West African nation become a sustainable industrialised nation.

“We applaud Ghana for all its achievements under the leadership of President Nana Akufo-Addo. We are eager to contribute to Ghana’s successes by creating local value and being a powerful and reliable regional partner to the country’s socio-economic development goals,” Kaeser said.

About the Author

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

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