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Ghana seals €162m deal with Deutsche Bank

Ghana’ continuous efforts to expand to its infrastructure base has received another boost following the announcement by the Deutsche Bank AG of an approval of three major transactions worth €162million for the West African country.

The financing package include a €92million for the next construction phase of the Kumasi Market project which is being undertaken by Constracta Construction, UK Limited and the Ministry of Local Government and Rural Development.

An amount of €25million was also announced as part of the financing package which is expected to be used to complete the construction and equipping of the Bekwai District Hospital. This project is being undertaken by Ellipse Projects SAS France (UK) and the Ministry of Health.

The third deal which involves over US$45million is expected to be used to expand social infrastructure in the country. This includes the modernization and equipping of the Tetteh Quarshie Memorial Hospital, Kibi District Hospital, Aburi Hospital and Atibie Hospital.

The project is being executed by the Ministry of Health and Contracta Costruzioni Italia Srl and follows financing for the construction of the University of Environmental and Social Development in Somanya, Eastern Region.

“We are proud of our contribution to infrastructure development throughout the African continent. Today we play a leading role with our offer there. We are pleased that these transactions can make a positive contribution to the economic growth and development of Ghana, “, Simon Sayer, who is responsible for structured trade and export finance at Deutsche Bank said in a statement released by the Bank on Monday, February 11, 2019.

The transaction is also expected to be announced at the 3rd German-African Business Summit which kicked off in Accra, Monday, February 11, 2019.

Kasapafmonline.com understands that the transactions are part of financing arrangements for infrastructure projects worth more than €1.3billion which the Bank has provided to the Ghanaian Government since 2012.

Source: kasapafmonline.com

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