News:
February 3, 2016
Visiting Italian Prime, Matteo Renzi, Tuesday, told Ghana’s Parliament that his country is prepared to partner with the West African country to develop its agricultural and energy sectors.
“As Italian people we are ready for agri-business here but we are also ready for the energy sectors”, he said in his twenty-two minutes address to the country’s legislature.
The former British Colony has in recent times experienced a dip in its agricultural and energy sectors because of low investment.
For instance, budgetary allocation for the agricultural sector has since 2012 received a paltry amount. Unlike in 2009 where the sector received a 3% budgetary allocation of the country’s annual budget, in 2012, the amount reduced to 1.9%.
It further went down to 1.03% in 2013 whereas in 2015, the sector was credited with 1.1% of the country’s budget.
Low investment in the energy sector has also seen the country experienced a four-year erratic power supply, compelling many businesses to fold up with thousands of workers laid off.
The introduction of the Karpower and Ameri badges to generate about 500MW has brought some stabilization in the country’s energy mix.
However, Renzi in his address said, there is hope for the West African country since cooperation between Italy and Ghana will ensure growth in those sectors.
The new partnership in the energy sector, according to Renzi, will bring on board the European Country’s ENI S.p.A, a multinational oil and gas firm, to ensure that Ghana’s energy sector is further strengthened to meet is growing demands.
The ENI, he added, will be involved in gas supply to the Ghanaian market. The country already has a deal with ENI to develop the Sankofa block Offshore Cape Three Points.
“The new project will be for power generation and it will bring benefit to Ghana. This is a good message for friendship and cooperation between Italy and Ghana”.
He added “your wealth will be our wealth and your challenges will be shared across our collective efforts in finding solutions that work among the two countries in the spirit of collaboration”.
Renzi is in the country for a two-day official visit. He is the second Italian Prime Minister to visit Ghana after Giorgio Napolitano during the erstwhile Kufuor administration.