Ghana’s Infrastructure Investment Fund (GIIF) has moved a step closer to reality with a nine-member board being named to the fund.
John Dramani Mahama, President of Ghana, has named the board that will advise the government on viable future infrastructure projects and investments such as special purpose vehicles, joint ventures and PPPs.
A statement signed by the Chief of Staff named Ato Ahwoi as chairman of the board and Steven Nartey as acting chief executive.
Other members named include Lionel Van Lare Dosoo, a former deputy governor of the Bank of Ghana, Phillip Sowah, an engineer and former chief executive of Airtel Ghana, Clara Arthur and Nana Afoa Appiah-Korang. The others are David Ofosu Dorte, Kate Quartey-Papafio and Clifford Mpare.
In line with the provisions of the GIIF Act 2014, the president has also appointed five people to an advisory committee for the fund: Finance Minister Seth Terkper; Central Bank Governor K.A. Wampah; acting director-general of the National Development Planning Commission Nii Moi Thompson; president of the Association of Ghana Industries James Asare-Agyei; and Phyllis Christian of Shawbell Consulting.
The fund was first announced at the end of 2013 and is a response to estimates that the country requires sustained spending of at least $1.5bn a year over the next 10 years to address its infrastructure shortfall.