Ghana-SA's R36 billion investment deal is the biggest in Africa

Ghana-SA's R36 billion investment deal is the biggest in Africa

- South Africa and Ghana made an investment deal that is the biggest in Africa to date

- The deal - worth about R36 billion - will lead to the development of a light-weight railway system called Ai Skytrain

- Construction on the railway system should start as soon as 2020

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The Africa Investment Forum is happening in Sandton, Johannesburg this week. The biggest deal in Africa was made at the forum between South Africa and Ghana.

The deal is worth an impressive $2.6-billion (about R36 billion) will improve Accra's public transport system.

An elevated light railway system that will offer low-cost transport is planned. The Mail&Guardian reports that Africa Investor, of the South African consortium, partnered with the Ghana Infrastructure Investment Fund.

Together, they will be developing Ai Skytrain.

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The mass transit system will use air propulsion technology and will be able to drive high volumes of passengers.

The Investment Forum is the first of its kind in Africa and has been attended by more than 1 400 people.

Guests included senior government officials from across the continent and many heads of state.

The aim of the forum is to secure intra-African deals and investments.

Ghana's president, Nana Akufo-Addo, was happy to sign a memorandum of agreement and give Ai Skytrain' development the green light.

This benefits all our people. Accra in independence was sitting with a population of 50 000 people. That is 60 years ago, it is now six-million people. You can imagine what that means for the movement of people in the city.

The plan is to have construction started by 2020.

READ ALSO: Update: Judge agrees Jacob Zuma undertook to repay his legal fees

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Source: Briefly.co.za

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