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CILT Ghana held a meeting with the Chief Executive Officer of Ghana Railway Development Authority

CILT Ghana held a meeting with the Chief Executive Officer of Ghana Railway Development Authority

CILT Ghana held a meeting with the Chief Executive Officer of Ghana Railway Development Authority

CILT Ghana held a meeting with the Chief Executive Officer of Ghana Railway Development Authority

The meeting which was led by Mr. Cletus Kuzagbe, FCILT – Former President of The Chartered Institute of Logistics and Transport (CILT) Ghana was to examine how to activate and operationalize the Railway Development Fund and explore the available options of generating financial resources for the fund which would be geared towards the development and maintenance of the Railway sector in Ghana.

The Railway Development Fund is already established with the promulgation of the Railway Act, 2008 Act 779 section 22 but is yet to see the light of the day.

All the options were examined at the meeting to get the right financial mix which can stand the test of time. Broadly speaking Equity Finance, Debt Finance and Taxation & Levies were the areas of focus to get the right and sustainable mix.

The Chief Executive Officer of Ghana Railway Development Authority Mr. Richard Diedong Dombo was excited by this bold initiative by Ridmut Consult who were the initiators of this meeting.

Further deliberations would be held at the subsequent meeting since other follow-up issues are needed to be dealt with. Representatives from All-Time Capital Limited and McOttley Capital Limited were part of the meeting.

Other members of the CILT delegation were Mr. Jonathan Sam, CMILT – Immediate Past Vice President – Rail and Mr. Neil Vorleto, CMILT – Vice President-Finance.

The final proposal would be submitted to Ghana Railway Development Authority Board, the Minister of Railway Development and where necessary Parliament for their approval and implementation.

 

Credit: CILT Ghana