Expanding capacity at Ghana?s ports will remove the pressing problem of bottlenecks, while providing the country with the opportunity to tap investors for attractive infrastructure projects, said the Group CEO of A. P. Moller ? Maersk, Nils Smedegaard Andersen.

P1060035?Andersen told the global publishing, research and consultancy firm Oxford Business Group (OBG) that a lack of space meant vessels were sometimes forced to wait for days out at sea, which was ?risky and costly?.

?We are proposing to the government a port expansion that would double or even triple capacity from the current level of 800,000 TEUs (twenty-foot equivalent units) per year,? he said. ?This is urgent, and we need to take immediate action.?

The full interview with Nils Smedegaard Andersen will appear in The Report: Ghana 2013, the Group?s forthcoming guide on the country?s economic activity and investment opportunities.

?Andersen said the huge commitment that infrastructure projects required in terms of time and investment meant companies would be looking for clear rules at the outset. ?With port investments, you do not make any money for the first 10 years, so it becomes imperative to consider the length of tenure, and also ensure that the agreement you have with the government will stick through thick and thin. Otherwise, it is not an attractive environment for investors,? he said.

The Group CEO of A. P. Moller ? Maersk was upbeat on Ghana?s prospects for sustainable growth, pointing to the country?s wealth of minerals and natural resources. He acknowledged, however, that trade between African nations was unlikely to expand significantly while their economies remained so similar in structure. ?Increasing trade between African countries will also require more specialisation,? he said. ?This is something to keep in mind, that until you reach higher-level manufacturing and more systematic agriculture, there will be limited trade.?

?The Report: Ghana 2013 will be a guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will be available in print or online.

Oxford Business Group (OBG) is a global publishing, research and consultancy firm, which publishes economic intelligence on the markets of Africa, the Middle East, Asia and Latin America. Through its range of print and online products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, insurance, energy, transport, industry and telecoms.?The Report: Ghana 2013 is produced with research assistance from Ghana Investment Promotion Centre, Deloitte & Touche and Stratcomm Africa.

?The critically acclaimed economic and business reports have become the leading source of business intelligence on developing countries in the regions they cover. OBG’s online economic briefings provide up-to-date in-depth analysis on the issues that matter for tens of thousands of subscribers worldwide. OBG’s consultancy arm offers tailor-made market intelligence and advice to firms currently operating in these markets and those looking to enter them.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.