This list of FAQ is compiled to assist visitors of the Website get quick responses on some basic questions on GIIF. Visitors can ask questions and this will help to extend the FAQ.
When was the GIIF established?
The Ghana Infrastructure Investment Fund (“the Fund”or “GIIF” ) is a body corporate wholly owned by the Republic of Ghana and established pursuant to the Ghana Infrastructure Investment Fund Act, 2014, Act 877. The Act was passed by the Parliament of the Republic of Ghana on July 21, 2014 and duly assented to by the President of the Republic of Ghana on August 15, 2014.
What are the objective of the fund?
The object of the Fund is to mobilize, manage, coordinate and provide financial resources for investment in a diversified portfolio of infrastructure projects in Ghana.
What are the powers of the FUND?The Fund shall have the power to:
- (a) create sub-funds, affiliates or subsidiaries in any jurisdiction in furtherance of the object of the Fund;
- (b)invest in, purchase, maintain, divest from, sell or otherwise realize assets and investments of any kind; and
- (c)borrow and raise money, on its own or in partnership with or through its affiliates, from domestic and international financial markets.
Who are the shareholders of the GIIF?
The fund is 100% owned by the Republic of Ghana. GIIF shall not enter into any investment or implement any strategy which will have the effect of diluting the Republic of Ghana’s ownership of the Fund.
Which sectors are targeted by the Fund?
- Agriculture infrastructure
- Transportation including roads, railways, air and sea ports
- Social infrastructure including schools and hospitals
- Industrial infrastructure including industrial parks and special economic zones
- Infrastructure that enhances tourism and hospitality
- Strategic national projects with potential multiplier positive impact on the economy
- Infrastructure projects that from time to time may be determined by the Board to be necessary for Ghana growth and development
What does GIIF invest in?The Fund may invest in:
- Commercially viable infrastructure or infrastructure-related projects
- Investments that have received (or will receive prior to disbursement) the relevant approvals, permits, licenses and concessions from the relevant government agency
- Going concerns that require finance for upgrades, expansions or other forms of growth
- Partnerships in infrastructure projects through strategic investment vehicles such as special purpose vehicles, joint venture or public-private partnership arrangements.
What are some of the guiding principles for investments by the Fund?
1) The Fund may pursue investment opportunities directly by itself, or through a selected manager.
2) All of the Fund’s investment decisions shall be taken having regard to the impact of such investments on the environment, compliance with local laws, adherence to the environmental, social, health and safety guidelines.
3) The Fund shall have an asset allocation policy which ensures that the Fund is not unduly exposed to any one particular infrastructure sector, project or asset manager, while taking into account its investment objective, risk tolerance and liquidity requirements.
What are the Sources of Funding?
This will include government sources and market-based financing.