GT Shares Sale Cash Expected This Week - President

By Samuel Amoako & William Yaw Owusu, Sekondi

Monday, 18 August 2008
PRESIDENT, J.A. Kufuor said on Saturday that 900 million dollars will be transferred into the economy this week, following the approval by Parliament of the sale of 70 per cent, Ghana Telecom shares to telecommunication giants, Vodafone.

He also announced that the integrated aluminium industry revolving around VALCO which was bought back by the government for 20 million dollars, is now attracting international offers of over 200 million dollars for partnership.

President Kufuor was speaking at the opening of the 16th Annual Delegates Conference of the ruling New Patriotic Party (NPP) here on Saturday.

He said with the Eurobond that the government raised on the London Stock Exchange having been oversubscribed by more than three million dollars, "Ghana now walks tall on the international capital market".

He said plans are far advanced to modernise the road infrastructure by dualising all major highways, including the Accra-Kumasi, Accra-Aflao and Accra Elubu, adding, "When I say this, it is not an empty boast. We have already got the money".

On the railway sector, President Kufuor said "the workers know that the problem is not from the NPP government".

The government, he said is rather helping to revamp the sector after securing 90 million dollars from a consortium of mining companies, the Ghana Ports and Habours Authority and the Timber Board to enable them to raise the needed capital for the development of the sector.

He said there are also offers from China and the United Arab Emirates to assist the sector and appealed to the workers to exercise patience.

"Surely, we are achieving the middle income status by 2015 and by 2020, the sky will be our limit".

President Kufuor assured the nation that the NPP will lead Ghana’s forward march into prosperity considering the programmes it has initiated over the years.

Under his watch, he said, Ghana’s image is soaring and the nation is on the crest of very auspicious wave.

He said the party’s flag-bearer, Nana Addo Dankwa Akuffo-Addo, is certain to succeed him and take the country further.

He said it is important for Ghanaians not to forget that the NPP government inherited a tottering economy which has since been stabilised and consistent, adding, "The next government under our flag-bearer will accelerate growth.

He said the NPP has Ghana’s best candidate in Nana Akufo Addo whom he described as a competent person capable of helping to solve Ghana’s problems.

President Kufuor said the NPP’s ticket of Nana Akufo-Addo and Dr Mahamadu Bawunia, former deputy governor of the Bank of Ghana, as the running mate, is surely going to win the election to retain the NPP in office.

He said, "It is important for all of us to support the ticket firmly and work wholeheartedly and with commitment to secure the mandate of the electorate and have the party retained in office".

President Kufuor also waded into the argument as to whether or not the parties contesting the election should compare their track records, saying, "I support the view the people should be able to assess all the parties to be able to make informed choices".

"How do you attend a critical interview without your C.V. (Curriculum Vitae)?", he asked.

The President said the NPP will tell its success story to the electorate to seek their mandate.