Chinese investment in Ghana grows rapidly and the cooperation between the two sides is becoming more diverse in recent years, Ghana’s Finance Minister Seth Terkper said Wednesday.
Speaking to Xinhua prior to his trip to Beijing for a gathering of China-Africa finance ministers and foreign ministers, Terkper noted that Ghana and China agreed on “a lot of cooperation programs” in late 2014 and the upcoming meeting could be an occasion to follow up developments.
He is expected to have discussions with officials from the Chinese Ministry of Commerce, the China Development Bank, and several other institutions that have helped to boost bilateral cooperation.
The China Development Bank has financed major infrastructure projects regarding Ghana’s natural gas industry, and The China Exim Bank has played a key role in helping the African country develop hydro-electricity plants and water supply facilities, Terkper said.
“And some of them are setting up offices here. In communications, Huawei has just opened an office, and we know ZTE has an office, and so it is not just about riding on the back of loans. The bilateral cooperation is becoming more diverse and we are seeing more investment coming in.”
Chinese companies see Africa having great potential, he added.
China is now Ghana’s largest trade partner. According to Chinese official data, China has invested a total of 1.3 billion U.S. dollars in the African country, and in 2015, their two-way trade surged 18 percent to reach 6.6 billion dollars.