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Dr Bawumia's Sinohydro Jackpot Turned Out To Be A Hoax- Felix Ofosu Kwakye

A buoyant economy, is partly a function of a robust infrastructural investment. Infrastructure is a necessary condition for take-off as far socioeconomic development is concerned.

Consequently, countries across the globe find it imperative to invest in either bridging the gap or consolidating the existing infrastructural investment.

Apart from unemployment, infrastructure remains the most important need of the general Ghanaian public. Hitherto, poor road network, poor drainage systems, inadequate water and sanitation facilities among others have been a major headache to Ghana.

To mitigate this age-long problem, the Akufo-Addo led goverment entered into a $2 billion barter deal with the Chinese Sinohydro Corporation Limited in 2018.

Under the deal, Sinohydro was expected not only to finance but execute the construction of infrastructural projects in Ghana and in exchange have access to bauxite mining sites in the Atiwa forest for a decade and half.

The phase one of the construction project was categorized into ten different sub-projects(lots) scattered across the country. These projects, including the Tamale interchage, the dualization of Adenta to Dodowa road and others were scheduled to be completed by the end of 2020 at the cost of $646.6 million.

However, this has rather turned out to be a hoax, according to the former deputy Minister of information, Felix Ofosu Kwakye.

In a number of Facebook posts today, Mr Kwakye revealed that four years after Parliament approved the agreement, not even a single project has been completed under the phase one of the initiative. Neither has goverment of Ghana received anything close to the $2 billion from Sinohydro Corporation Limited.

A documentary by a Multimedia journalist, Evans Mensah reveals that only $100 million have so far been drown from the entire $2 billion deal.

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Akufo-Addo Ghanaian Sinohydro

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