Ghanaian press focuses on $50m tourism development deal by Tourism Ministry, others

APA – Accra (Ghana)
The report that Ministry of Tourism Arts and Culture yesterday signed a US$50 million agreement with GUMA Group to develop specific tourism projects in the country is one of the leading stories in the Ghanaian press on Thursday.
The Ghanaian Times reports that the Ministry of Tourism Arts and Culture yesterday signed a US$50 million agreement with GUMA Group, an integrated tourism group that brings inbound tourists from all over the world to develop specific tourism projects in the country.
The memorandum of under­standing (MoU) which was signed by the sector minister, Dr Ibrahim Mohammed Awal and Mr Robert Gumede, the Executive Chair­man for the GUMA Group, was witnessed by Mr Kwadwo Antwi, Chief Executive Officer of Ghana Tourism Development Compa­ny (GTDC) and Mr Luvhengo Neswiswi, Group Chief Financial Officer of Tourvest.
At a signing ceremony in Accra, the minister said the agreement was to embark on various projects to ensure the effective and efficient development of the tourism sector in Ghana by designing, building, and rehabilitating places of interest.
These places he said included cultural and historical places of interest, wildlife conservation and establishment of commercial wild­life parks, heavy capital tourism iconic projects and other associated infrastructure, as set out in its Tourism Development Plans.
He said the parties desired to cooperate with each other in respect of the development of strategic tourism infrastructure in Ghana within 24 to 60 months, including: the upgrade of the Shai Hills Resource Reserve, develop the Kakum National Park, upgrade the Mole National Park.
Dr Awal indicated that, the sector seeks among other things to drive and grow private sector investments into the tourism, arts and hospitality industry with the aim of improving the performance of tourism in targeted destinations in Ghana, with the objective of creating jobs along the tourism value chain, generate income for the players, reduce poverty and generally make the country an attractive tourism destination.
The newspaper says that the Minister for Finance, Mr Ken Ofori-Atta, has called on Multilateral Development Banks MDBs), the International Development Finance Club and the global financial architecture to swiftly provide the required support to Climate Vulnerable countries to achieve the Climate prosperity plans.
Mr Ofori-Atta, who is also the Chair of the V20 group of Finance Ministers, said a prompt and fast-paced support was a necessary requirement for the achievement of the prosperity plans in the face of mounting global crisis that sought to further deepen the financial gap between the vulnerable and developed countries.
Dr Osei Oteng Asante, an official of the Ministry of Finance, who spoke on behalf of the Minister at a side meeting of the ongoing Conference of Parties (COP 28) in Dubai on the topic “Action for Climate Targets (ACT) for a Net-Zero Future”, disclosed that 40 of the 68 member states of the V20 Group were in debt distress.
“The climate prosperity actions developed by most of the 68 members were constrained by inadequate financing, high cost of capital and the squeeze in fiscal space, especially after the Covid crisis,’’ he indicated, adding, “this has led vulnerable countries in their full swing of development to build in further vulnerabilities with each investment rather than becoming more resilient.”
The Minister noted that the time was ripe for MDBs to incorporate climate vulnerability into their resource allocation metrics and ensure that climate vulnerable economies had access to low cost and concessional resources.
He also called on MDBs to scale up credit enhancement tools and guarantees for vulnerable countries and dedicate resources directly to project preparation facilities rooted in member country’s climate prosperity plan.
‘’By the World Bank and IMF Spring Meetings in 2024, MDB management should formulate plans for a general capital increase, articulating how the increase in capital will support development-positive climate action,’’ he insisted.
The Ghanaian Times also reports that in a landmark event attended by a delegation from Ghana led by the President Nana Addo Dankwa Akufo-Addo, the Swiss government has signed an authorisation document conferring the Internationally Transferred Mitigation Outcome (ITMO) credit on the Integrated Waste Recycling and Compost Facilities of the Jospong Group of Companies.
This signing ceremony took place on the sidelines during the ongoing COP28 in Dubai, symbolising the company’s unwavering commitment to global sustainability objectives.
Also present at the ceremony include Ministers of the Ministry of Environment, Science, Technology, and Innovation (MESTI), the Ministry of Lands and Natural Resources, and the Ministry of Water Resources and Sanitation, as well as the representative of UNDP from Ghana.
The ITMO status encompasses four out of the 38 waste treatment plants belonging to Zoomlion Ghana, a subsidiary of JGC, which were selected for the initial phase of the project aiming to generate approximately 1.5 million tonnes of carbon dioxide valued at US $20 million from the present until 2030.
ITMO operates within the carbon emissions trading framework, allowing countries to acquire or trade carbon credits internationally. This mechanism does not only facilitate the creation of new carbon markets but also contribute to significant global greenhouse gas emission reductions and are defined under Article 6 of the Paris Agreement.
According to the Minister of Environment, Science, Technology and Innovation (MESTI), Dr Kwaku Afriyie, Ghana was the first country in Africa and the second in the world to have finalised its framework on Article 6.
“Now we are at the forefront and we are reaping the benefits,” he remarked.
He noted that “If climate change mitigation and adaptation is to happen, the real provider of capital should be the private sector with government enabling them”.
Mr Felix Wertli of the Swiss Federal Office for the Environment (BAFU) remarked that the signing of the document was of great significance to the Swiss government in pursuit of reducing carbon emissions to meet the Sustainable Development Goals.
He highlighted the mutually beneficial nature of the agreement, wherein Ghana reduces emissions and enhances waste management, while Switzerland advances its climate goals.
The Graphic says that the EU Ambassador to Ghana, Irchad Razaaly, has handed over some equipment and items to the Mole National Park in the Savannah Region to support management in their fight against poaching to preserve wildlife in the area.
It included a four-wheel vehicle, communications equipment, patrol headlamps, a sub ranger camp site, tents, raincoats and staff combat uniforms, among others. The gesture formed part of the EU Monitoring of Illegal Killings of Elephants (EU-MIKES) and the Savannah Integrated Biodiversity Conservation Initiative (SIBCI) projects being funded by the former.
The MIKES project seeks to protect the lives of elephants and other animals at the park, while the SIBCI project is into improving biodiversity, environmental sustainability and biodiversity conservation within the park enclave.
The Є1.8 million projects are being implemented by the National Park, the Forestry Commission and the Ghana Wildlife Society.
GIK/APA