Moroccan Firm To Invest In Ghana

MoroccoPalmeraie Holding, one of the largest Moroccan investment groups, has expressed interest in investing in some key areas in Ghana.

It plans to invest in the affordable housing, tourism and manufacturing sectors.

Currently, the executives of the group are in the country exploring business opportunities, and have so far held preliminary discussion with the relevant ministers for their investment proposals, which have been crafted along the lines of Public-Private Partnership with the government.

According to Mr. Hicham S. Berrada, Co-President of the group, who led the executives to Ghana, the firm was ready to initially invest over 100 million dollars in the affordable housing construction and other areas.

He told the Ghanaian Times after a meeting with Alhaji Rashid Pelpuo, Minister of State in-charge of Private-Public Partnerships, in Accra that they were directing their investment to Ghana in response to a call by the leader of Morocco, King Mohammed VI, for Moroccan business to engage in more south-south co-operation.

“We are also here to respond to calls by the Ghanaian government for foreign investment and partnership to grow the economy for the benefit of Ghanaians,” he said.

He explained that the company was interested in partnering the government to address the housing deficit by complementing efforts to provide affordable housing structures for the citizenry.

“We have the expertise and vast experience in that area, and we are fully prepared to work in Ghana,” he said.

Alhaji Pelpuo, for his part, described the group’s investment proposal as “welcoming,” indicating that it falls in line with the government’s policy to actively involve the private sector to address challenges in developing the infrastructure base of the country.

He said his outfit would study the proposal and make the necessary recommendations towards firming up an agreement with the company to pave way for the intended projects.

Mrs. Negha Alaoui M’hammdi, Moroccan Ambassador to Ghana, lauded the intention of the company, and expressed optimism that their participation in the Ghanaian economy would further boost the co-operation between Ghana and Morocco.

She said Morocco was pursuing a renewed policy of south-south cooperation, in which that country was sharing expertise, investment and knowledge transfer with other African countries within the broad scoop of regional integration.

Founded over 40 years ago, Palmeraie Holding started its activities in the creation, production and distribution of home textiles products. It has since diversified its activities and has invested substantially in the construction and management of major tourist and residential projects.

Palmeraie Holding is now a major player in the industry through its subsidiaries, the Palmeraie Industry (Dolidol) that deals in luxury real estate development, Palmeraie Development that deals in development of affordable housing, Spaces Saada which deals in tourism sector investment, hotels and resorts. By Edmund Mingle

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