Switzerland supports Ghana to help boost the country’s economy…
The country of Ghana has received an amount of $80 million from Switzerland as part of efforts to strengthen the Ghanaian economy. The sum was channelled to Ghana by the Switzerland government for the purpose of supporting the enhanced competitiveness of Ghanaian enterprises in the global market space.
The government of Switzerland supports Ghana as it considers the country a priority state for economic development.
According to the President of Switzerland, Doris Leuthard, her country’s decision to help Ghana with that said amount was mainly because the West African country remains the main focus of their aid agenda. This is considering the economic policies that the Ghanaian government put in place in the 2016 elections.
This was revealed on 12th July 2017, at a joint press conference held with the President of Switzerland, Her Excellency Doris Leuthard, at the Presidency. A cooperation strategy for 2017 to 2020 was launched in the presence of Ms Leuthard and Ghana’s president, Nana Addo Dankwa Akufo-Addo.
Ghana and Switzerland have signed a memorandum of understanding (MoU) aimed at increasing cocoa production and adding value to raw cocoa beans. With cocoa being one of the country’s greatest asset, Switzerland wishes to contribute a great deal to increase Ghana’s economic competitiveness.
At the conference on July 12, Ghana and Switzerland held discussions in the areas of Foreign Affairs, UN Reforms, Finance, Security and Agriculture, aimed at deepening the bilateral relations existing between them, as well as exploring other areas of co-operation.
Nana Addo at the conference vowed that Ghana will no longer become mere producers and exporters of cocoa beans, and will continue the policy of processing more and more of cocoa in the country.
The issue of terrorism and insurgency was also not left out in the discussion. Ghana and Switzerland assured to help curb the life-threatening menaces by offering their full support in the fight to bring them to an end.
Ghana is the world’s second largest producer and top grower Ivory Coast, which together account for more than 60 percent of the world’s cocoa supply. Ghana exports at least 70 percent of its beans mainly to Europe through forwarding contracts. However the country in recent times have been hit by a sharp drop in world prices that have seen cocoa futures plummet by around a third, hence the aid from the Switzerland government.
However, the grants offered Ghana by Switzerland more or less contradicts earlier assertions by the country’s Vice-President Dr Bawumia; of how the Ghanaian government is considering trade and not aid from development partners.