Business News of 2014-01-15

Sealink project takes off in July

The West and Central African Coastal Shipping Link (Sealink Project) is expected to begin operations in Ghana from July 1 this year. It will be dedicated to ply the West and Central Africa sea routes.

The project is a Federation of West Africa Chamber of Commerce and Industry initiative, in collaboration with the NEXIM Bank of Nigeria and Transimex of Cameroon, with the support of ECOWAS Commission, and would be spearheaded by the Ghana Chamber of Commerce and Industry (GCCI), the umbrella body of business operators, firms and industries in Ghana.

When completed, the shipping line would provide businesses the easy route of transporting their goods overseas to other countries in the West African sub-region.

President of the GCCI, Dr Seth Adjei Baah, who made that known, said currently, there was no direct shipping line to the West African sub-region and, as such, businesses which resorted to using the seas to transport their goods often delayed, since the cargos went through Europe before reaching their destinations in West Africa.

“Indeed, we are aware of the enormous benefits that coastal shipping service can have in the socio- economic development of our economies,” he said, adding that the GCCI is playing a key role in the establishment of this shipping line.

The shipping line, when completed, would have both cargo and passenger sections, while warehouses would also be constructed at each port for easy shipment.

It would also promote trade and investment in the West African sub-region, as well as reduce the dangers and frustrations associated with the use of road transport.

Dr Adjei Baah also disclosed that the chamber would be committed to empowering female entrepreneurs, as well as small and medium enterprises (SMEs) to build their capacities and improve their operations.

According to him, about 90 per cent of local businesses are indigenous and as such helping them to operate efficiently; implying that whatever wealth they make stay within the economy.

The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mrs Mawuena Trebah, commended the chamber for the investments and partnerships they have attracted into Ghana over the years, stressing that the prospects were still high for foreign direct investments into Ghana.

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