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Business News of Friday, 16 May 2025

    

Source: www.ghanawebbers.com

UAE proposes strategic development partnership

The UAE is becoming a key partner in Africa, with Ghana as a gateway to West Africa. This partnership focuses on climate resilience, AI, education, health, aviation, energy, defense, infrastructure, and economic transformation.

Background: UAE-Ghana Relations

The UAE and Ghana have had friendly diplomatic relations for decades. They collaborate in trade, energy, and aviation. Ghana’s stable democracy and natural resources make it an attractive partner for the UAE. Recently, UAE companies like DP World and Masdar have shown interest in Ghana's ports and renewable energy sectors. Emirates Airlines and FlyDubai have improved air connectivity between the two nations.

Strengthening Bilateral Ties

Diplomatic engagement has led to collaborative efforts for economic growth in Ghana. The UAE plans investments in biodiversity, climate initiatives, education, aviation, and energy.

US$30m Investment in Biodiversity and Climate Initiatives

The UAE is investing US$30 million in Ghana’s biodiversity and climate initiatives. This funding will support six priority areas:

1. Establishing biodiversity corridors.
2. Large-scale reforestation programs.
3. Promoting agroecological farming practices.
4. Advancing gender equality.
5. Empowering youth through green jobs.
6. Fostering community development.

This initiative aligns with the "Resilient Ghana" strategy to combat deforestation by 2030.

Advancing AI and Educational Collaboration

The partnership prioritizes collaboration in education with a focus on AI integration. The goal is to modernize Ghana’s educational system using AI tools for personalized learning.

Both countries will facilitate exchange programs for teachers and collaborative research in STEM fields.

Energy Sector Cooperation

Energy cooperation is crucial to the strategic partnership between the UAE and Ghana. The UAE aims to support Ghana's transition to renewable energy through solar power projects.

Masdar plans utility-scale solar and wind projects targeting 30% clean energy by 2030.

Tourism, Aviation, and Culture Exchange

Both nations want to expand cooperation in tourism and cultural exchange. They discussed establishing direct flights between Accra and major UAE cities.

The UAE will support tourism infrastructure development in Ghana while exploring cultural exchange programs that promote heritage.

Health Sector Collaboration

Ghana and the UAE agreed to strengthen ties in healthcare infrastructure improvement. The UAE will help construct hospitals, supply medical equipment, and train healthcare professionals.

They are also exploring partnerships in telemedicine and public health research aligned with Universal Health Coverage goals.

Defense Sector Engagement

Ghana and the UAE aim to enhance cooperation in defense matters as part of their strategic partnership. This includes joint training programs and intelligence sharing.

The discussions also cover border security improvements reflecting a commitment to regional peace.

Economic Implications

This strategic partnership could significantly boost Ghana's economy. Bilateral trade rose from $2.5 billion in 2022 to $5.3 billion this year.

UAE investments are expected to create jobs while enhancing local capacity through infrastructure development.

Future Outlook

UAE-Ghana relations look promising as both countries share a vision for sustainable development. Initial joint projects are set for announcement at COP29 in Baku next year.

Ghana can benefit from the UAE’s expertise while deepening its presence within West Africa through this collaboration.

Conclusion

The proposed strategic partnership marks a new chapter for both nations' relations. If successful, it could accelerate economic transformation for Ghana while reinforcing the UAE's investment role in Africa's markets.