GCB BANK PLC has provided funding for the acquisition of four brand new 40-metre multi-role offshore security vessels for the Ghana Navy.
The vessels will provide dedicated security to offshore oil and gas facilities and other maritime security issues and to promote a burgeoning blue economy.
The multi-purpose vessels were commissioned by President Nana Addo Dankwa Akufo-Addo, at the Naval Base in Sekondi, Western Region.
Speakers upon speakers were full of praise for GCB Bank for providing the funding for the acquisition of the vessels.
President Akufo-Addo said all efforts at transforming the economy would be futile unless the security of the nation was secured.
He said his government would not waiver on security and integrity of the nation and that the government was committed to safeguarding Ghana’s territorial integrity.
Managing Director of GCB, Kofi Adomakoh, expressed delight in partnering the Ghana Navy to facilitate further development in Ghana’s hydrocarbon industry.
“The financing of these vessels is yet another example of how deep local-market knowledge and international best practice paired with our core mandate of supporting Ghana’s oil infrastructure development, enables us to forge partnerships in providing complex financing solutions which promote long term and sustainable economic development,” he said.
Mr Adomakoh said GCB was encouraged to look beyond the commercial benefits and focus on patriotic and developmental national agenda in providing the finance.
He expressed the hope that the financing arrangement could “serve as a blue print and a launch pad for further collaboration between the Ghana Armed Forces, GCB and other private and public institutions to raise funding to support projects that otherwise will be funded by Government alone.”
“The transaction once again demonstrates GCB Bank’s readiness and capacity to partner stakeholders to transform our economy. As market leaders, we urge the support for more private and public sector collaboration that yields results for national development,” GCB MD said.
The Defence Minister, Dominic Nitiwul, announced that the government has changed all old and unserviceable vehicles of the Military.
He said a new Army Headquarters is being constructed in Accra and that roads in various barracks are being asphalted.
The Chief of the Naval Staff, Rear Admiral Issah Yakubu, noted that it has been almost 10 years ago since new ships were commissioned for the Ghana Navy.
He said the Ghana Navy has supported the international oil companies in diverse ways to facilitate and protect their assets offshore.
The vessels were respectively named after the River Volta, River Densu, River Pra, and River Ankobra to signify the very important roles these water bodies play in the lives of Ghanaians.