Business News of Wednesday, 31 July 2024

Source: thebftonline.com

US$10 million new development fund to expand GAEC's frontiers

GAEC is optimistic that raising US$10million within five years will be instrumental GAEC is optimistic that raising US$10million within five years will be instrumental

The Ghana Atomic Energy Commission (GAEC), a state organisation tasked with developing nuclear power technology, investigating the use of nuclear energy and supporting related research and development, is seeking to raise US$10million to expand its work.

The move aims to help the Commission, which has been instrumental in developing the nation’s food and agriculture sector, nuclear energy and safety, education and training, environmental protection and natural resources management, among others, to intensify its impact through investments in advanced technologies over the next decade.

This was announced at the Commission’s diamond anniversary launch in Accra. The US$10million GAEC Development Fund (GDF) is targetted at expanding research activities, upscaling human resource capacity and procuring new technologies for more efficient operations.

Director-General of GAEC, Prof. Samuel Boakye Dampare, highlighted that the past 60 years have been full of many success stories. However, the future demands are many, hence need for the fund which will help retool, refurbish and modernse GAEC’s laboratories to be consistent with global standards. Additionally, it will enhance GAEC’s research, innovation and development capacity to support the country’s socioeconomic development.

“Some of our best brains are resigning and leaving the country for greener pastures outside because the equipment to ensure efficient operations and utilisation of their skills is non-existent.

“We have the potential and nuclear is a unique energy that, when we handle it well, will generate tremendous benefit for the nation. We are committed to position GAEC as a global player in novel research and technological outputs for attaining the UN Sustainable Development Goals (SDGs),” he said.

GAEC is optimistic that raising US$10million within five years will be instrumental in leveraging research, innovation and development that advances technology transfer to various industries.

“Some of the new technologies required cost about US$5million. We cannot depend on government to provide all our funding needs, so we need the support of everyone to embark on this transforming journey,” the DG added.

Minister for Environment, Science, Technology and Innovation (MESTI), Ophelia Mensah Hayford, speaking as guest of honour reiterated that contributions of the GAEC cuts across all sectors of the economy, and the Commission can do even more for national socioeconomic development with the right support.

“Our founding father, Dr. Kwame Nkrumah, establishment the GAEC with a world vision of harnessing the power of nuclear science and technology to benefit our nation and beyond. Today, we are not only celebrating six decades but also recognising the impact it has had on society,” she said.

She highlighted that the GAEC beyond it’s energy responsibility has also conducted extensive research which has enhanced agriculture, especially enhancing food security with improved seed varieties and production techniques. For instance, it developed a cassava variety that delivers 70 tonnes per hectare a simple tomato processing technology, and plantain plantlets among others.

In the area of health, GAEC led establishment of the first radiotherapy cancer treatment centre in Ghana at the Korle-Bu Teaching Hospital, currently treating about 8,000 patients per year.

“In the energy sector, GAEC led and contributed to developing nuclear energy infrastructure for the nation which is contributing greatly to the industralisation drive,” she said.

The diamond anniversary celebration was launched under the theme ’60 years of impacting society through nuclear science and technology – expanding our frontiers’.

Activities lined up for the commemoration include cancer-awareness programme, breast cancer awareness campaign, GAEC open day and commissioning gas chromatography among others.