Ghana Seeks Investors for $2.4 Billion Railway and Inland Port

ACCRA (Capital Markets in Africa) – Ghana is looking for private investors to build a $2.4 billion railway line and inland port project that will ease the transportation of goods to and from the West African nation’s northern neighbors.

The railway line from Tema, Ghana’s biggest harbor, to the second-biggest city of Kumasi will cost $1.8 billion, while the stalled Boankra inland port will need $600 million to be revived, Transport Minister Kweku Ofori Asiamah said Wednesday in an interview in the capital, Accra. The venture will be executed with a private partner on a “build, operate and transfer basis,” Asiamah said.

PricewaterhouseCoopers was appointed as transaction advisers, he said.

The 11-month old government of President Nana Akufo-Addo has vowed to accelerate economic growth through the building of infrastructure and the promotion of trade and increased manufacturing in rural areas. Landlocked countries in West Africa such as Burkina Faso and Mali depend on their coastal neighbors for the import and export of goods.