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21 AUGUST 2018 AL CIRCLE

Ghana must review the recent bauxite agreement with Sinohydro: Says Dr. Baezie

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Dr. Camynta Baezie, a former Chief Executive Officer of the State Enterprises Commission suggests the Ghana government should review the US$2 billion worth of bauxite agreement that it recently inked with China.

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Late July, Ghana’s Finance Minister Ken Ofori-Atta had announced a US$2 billion deal with Chinese engineering firm, Sinohydro Group Limited, in the parliament. The deal says the Chinese company would fund the infrastructure projects in Ghana, including roads, bridges, interchanges, hospitals, housing, rural electrification in exchange for refined bauxite. This means Ghana would leverage its bauxite reserve at Atewa forest for the amount from China.

However, Dr. Camynta Baezie thinks that this deal is poorly negotiated and is not in the interest of Ghana. He shared this observation while speaking to Citi News after authoring an open letter to President Akuffo Addo.

He particularly said. “The way the Chinese structure their things, it is always in their own interest and they never look at the interest of the other country. It's the duty of government [of Ghana] to use all its expertise to try to get the best deal for Ghana. And I'm sure if a good negotiation is done, the Chinese are not unreasonable, they will agree to it. But what we have agreed to now is not in the best interest of the country.”

Tagged with:

Bauxite project Ghana China

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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