NewsWest AfricaGhana gets new airline


Posted on Tuesday, 25 September 2012 09:44

Ghana gets new airline

By Lawrence Quartey

Africa World Airline (AWA) got a $4 million injection from Ghana’s Social Security and Insurance Trust (SSNIT) A traditional leader in Ghana has teamed up with a local businessman to introduce an airline to service the domestic and regional routes.

The Africa World Airline (AWA) is a brainchild of Togbe Afede XIV, the president of the Volta regional house of chiefs in eastern Ghana.

AWA's inaugural flight was launched on September 21 to coincide with the 103rd birthday of Ghana's first President Kwame Nkrumah.

The owners said this was done to show a commitment to advance Nkrumah's vision to integrate West African countries.

Ghana's Social Security and Insurance Trust injected $4 million in the project.

Other investors are SAS Finance Group, an investment brokerage firm where Afede is the chief executive officer and HNA Aviation Holdings-China and China-Africa Development Fund (CADFUND).

"We intend our growth to mirror that of HNA, which currently has a fleet of about 400 aircraft" Afede said.

AWA capitalised to the tune of $40 million became the fifth domestic airline in Ghana.

It has two Embraer ERJ-145LR jets and is expected to increase the fleet as it market share grows.

Ghana's Tourism Minister Akua Sena Dansua said the limited number of airlines operating local routes was inconveniencing tourists.

She said AWA's coming on board would bring competition in the industry and help reduce the high fares.

Chinese Ambassador to Ghana Gong Jianzhong said the launch of the aircraft marked a milestone in China-Africa cooperation

Chi Jianxin, the CADFUND chief executive officer said the decision to invest in AWA was taken after a realisation that Ghana was a good investment destination, with a stable political climate.

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