Ghana Infrastructure Investment Fund appoints Board of Directors

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Ghana Infrastructure Investment Fund appoints Board of Directors

John Dramani Mahama, the current President of Ghana, has appointed a nine-member board of directors for the Ghana Infrastructure Investment Fund (GIIF). 

The nine member-board of directors is composed by:

  • Ato Ahwoi, Chairman of the board
  • Steven Nartey, Acting Chief Executive
  • Lionel Van Lare Dosoo, a former Deputy Governor of the Bank of Ghana
  • Phillip Sowah, an engineer and former CEO of Airtel Ghana,
  • Clara Arthur
  • Nana Afoa Appiah-Korang.
  • David Ofosu Dorte
  • Kate Quartey-Papafio
  • Clifford Mpare

GIIF has been developed to deal with the country infrastructure deficit. The fund also focuses on strategic infrastructure to support both the public and private sector infrastructure projects. The Board will advise the Minister on viable projects to be financed by GIIF, including those involving special purpose vehicles (SPV) such as joint venture (JV) and public-private partnership (PPP) projects.

The fund will mobilise and provide financial resources to manage, coordinate and invest in a diversified portfolio of infrastructure projects in the country for national development.

GIIF will partner the private sector to finance critical infrastructure projects. The establishment of the fund will also enable self-financing projects to be taken off the government's balance sheet and managed as commercial projects.

The fund will focus on 2 key sectors: energy and transport (specially in roads projects).

In line with the provisions of the GIIF Act of 2014, the President has appointed five persons to an Advisory Committee for GIIF. They are: Finance Minister Mr Seth Terkper, the Governor of the Bank of Ghana, Dr. Henry K.A. Wampah, the acting Director-General of the National Development Planning Commission, Dr. Nii Moi Thompson, President of the Association of Ghana Industries, Mr James Asare-Agyei and Phyllis Christian of Shawbell Consulting

In mid July the Parliament passed the Ghana Infrastructure Investment Fund Bill, whose purpose was to establish the GIIF.

Ghana, as a lower-middle income country, has recorded an impressive growth from 5.1 per cent in 2003 to 14.4 per cent in 2011 and 7.1 per cent in 2012. Private sector participation has been identified as one of the available options for supporting continued growth and improving the quality of infrastructure system.

Share this news