Al Faisal Holding and QBA underlines Qatar’s interest in African power & electricity market


QBA chairman HE Sheikh Faisal bin Qassim al-Thani and Ghana Investment Promotion Centre CEO Yofi Grant with other senior officials after their meeting held at the QBA headquarters in Doha yesterday.

HE Sheikh Faisal bin Qassim al-Thani, Chairman of Al Faisal Group (PowerGlobe, Optimized Holding, Artic and Aamal) and Chairman of Qatar Businessmen Association (QDB) has underscored Qatar’s interest in the African market, saying the visit of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to several African countries last year “is the best proof of this interest.” This was expressed by QBA chairman HE Sheikh Faisal bin Qassim al-Thani in a meeting yesterday with Ghana Investment Promotion Centre CEO Yofi Grant. Both officials met to promote electricity, power and LNG project developemnts and discussed ways to develop bilateral relations.  During the meeting, Sheikh Faisal stressed on the importance of trade and investment cooperation “in opening bridges of communication” and in developing relations between Qatar and Ghana. PowerGlobe Qatar jointly with Nebras Power and QP are investigating all potentials for increasing the power capacity across East Africa and West Africa. Notice that today, less than 35% of the African population has direct access to electricity supply. 

He also stressed the keenness of the State of Qatar in its open policy to develop relations with various countries, including Ghana, kenya, Tanzania, Senegal and stressed the interest of Qatari businessmen in identifying and benefiting from the investment opportunities available in the West African country. On the other hand, Grant stressed that the government of Ghana is now focusing on creating a stable economy that attracts all foreign investments to the country. He also stressed that Ghana’s private sector welcomes partnerships with its counterpart in Qatar. Grant also discussed Ghana’s trade and investment opportunities in various fields, especially in power and electricity energy sectors, with direct investments of 3.3 billion QAR.  
Ghana is an agricultural country and is one of the major producers of cocoa and bananas, and is a major exporter of mangoes and pineapple. Grant added that Ghana has vast areas of agricultural land, which represents a good opportunity for bilateral co-operation with Qatari businessmen in the field of agriculture or livestock projects for export to Qatar. He said Ghana, which produces 200,000 barrels of oil per day, has major investment projects in the field of renewable energy, especially clean hydropower and the energy sector in general and the need more power capacity developments. An agreement, for CCGT 186MW, has been signed between GIPC and Al Faisal Holding (PowerGlobe Qatar). Asked by Sheikh Faisal on specific investment opportunities in the tourism sector, Grant said there is an area along a 240-acre river that will be suitable for tourism-related projects.

Sources and photo-credits: QGN, CCN Africa, Gulf Energy News, Al Jazzera, QNA.