‘Investment in technology vital’

Mr Mahama Ayariga,Minister of Environment,Science,Technology and Innovation (2)

Mr. Mahama Ayariga

The Chief Executive Officer of Silicon Accra, David Osei, has appealed to government to provide the necessary incentives to attract investments in technology and innovation in the country.

He observed that technology and innovation held the key to addressing the unemployment problem in the country and promoting growth of the economy.

Mr. Osei disclosed this at stakeholder meeting in Accra, to discuss measures to promote a Technology City in Accra.

He explained that his outfit was establishing Technology Innovation City (TIC) in Accra to support start-up companies in the Information Communication Technology (ICT) industry to thrive.

Mr. Osei said the TIC was being established on a 60-acre land at East Legon Hills, a suburb of Accra,  to house offices, education centres, a retail complex, residential blocks and general amenities.

He said the objective of the TIC which, among other things, was to facilitate the local economy by nurturing Information and Community Technology industry startups and entrepreneurs.

Mr. Osei disclosed that the first phase of the project, which involved the construction of road, lying of ICT infrastructure, has commenced and would be completed within two years.

He said his outfit had decided to allocate 15-acres of the land free to startup companies all over Africa, to operate.

In addition, he said, a $50-million fund has been set up to support startup companies in the areas of finance and innovation, technology, agribusiness, and healthcare to set up and operate from the TIC.

Mr. Osei indicated that the TIC is envisaged to accommodate 20,000 residents would create a lot of jobs for the youth.

A member of the Advisory Board of Silicon Accra, Desi Lopez, arguing for the need for TIC in Accra, said countries such as China, Singapore, Dubai had developed on the back technology.

He said the technological leap and feat those countries had achieved were due to the effective policies put out by the government to promote the ICT industry.

Mr. Lopez said Ghana stood to gain immensely from ICT if an enabling environment was put in place by the government to attract investment to the sector.

By Kingsley Asare

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