Ghana and Morocco have signed 25 new agreements in various fields with a bid to enhancing the economies of the two countries.

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The agreements signed Friday at the Flagstaff House at a ceremony presided over by President Nana Akufo-Addo and King Mohammed VI also included public-private partnership agreements.

It includes the setting up of a Moroccan-Ghanaian business council, the global private sector's commitment to climate action, Members of the Ghana National Chamber of Commerce and Industry and financing the investment and cash needs of Ghanaian companies members of the Association of Ghana Industries.

Other details of the agreement include:

  • Provision of $10 million to develop technical capacity so as to improve the electrification in Ghana, technical cooperation agreement in the field of insurance and reinsurance.
  • Memorandums of understanding between Attijariwafa Bank of Morocco and GCB Bank Ltd.
  • The development of renewable energy projects, tourism, the exchange of expertise in the fields of exploitation, concession, technology, financial arrangements, training, development Agricultural insurance, SME financing and exchange of experience and expertise between the Casablanca Stock Exchange and the Ghana Stock Exchange.

--Government commended--

The President of the Ghana National Chamber of Commerce (GNCC), Nana Appiagyei Dankawoso, who represented the Ghanaian business community, hailed the government's attitude to business.

He recalled the success of a business forum held in Accra last month between Moroccan and Ghanaian businessmen.

He noted that the forum led to establishment partnership in the areas of agriculture, food industries, telecommunications technologies and the banking sector.

The President of the Moroccan General Confederation of Enterprises, Miriem Bensaleh Chaqroun, also hailed the new partnership between Morocco and Ghana.

She noted that in the era of globalization, Africa must the common challenges linked to the creation of jobs, the emergence of markets and the preservation of its identity.

The development of Africa will depend on "the ability of our politicians to take advantage of our abundant natural resources, the dynamism of our young people and our considerable human capital," she said.

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--King Mohammed VI decorated--

King Mohammed VI was decorated with Ghana’s highest honour of Order of the Companion of the Star of Ghana by President Nana Akufo-Addo.

In return, King Mohammed also decorated President Akufo-Addo with the highest honour of Morocco.

King Mohammed arrived in Accra on Thursday for a three-day working visit.