Geodrill exports drilling rig, rod carrier to Egypt
An exploration drilling company, Geodrill, has exported a drilling rig and a rod carrier to Egypt under the African Continental Free Trade Area (AfCFTA).
Advertisement
The equipment was manufactured at Geodrill's manufacturing plant in Tema in the Greater Accra Region.
The export of the drill rig and rod carrier, officials said, was a significant milestone for the country and Geodrill, which recently expanded its operations into Egypt.
The company said the export was a sign of its confidence in the AfCFTA initiative and its commitment to expand its operations in Africa.
As the largest free trade area in the world, the AfCFTA covers a market of over 1.3 billion people and is expected to boost intra-African trade by 65 per cent by 2027.
Geodrill has been operating in Africa for over 25 years and has a strong presence in Ghana, Burkina Faso, Senegal, Cote d’Ivoire and Mali.
The company says the successful export of the drill rig and rod carrier would enable it to export its products and services to a much larger market with less restrictions and better tariffs on import duties.
Customs
The Assistant Commissioner of Customs in charge of Tariff and Trade for AfCFTA, Fechin Yao Akoto, said the export of the equipment was a sign of the country’s commitment to AfCFTA.
He urged other manufacturing companies in the country to take advantage of the agreement to export their products to other African countries.
Ghana, Mr Akoto said, had since the coming into force of AfCFTA exported a range of products to other African countries, including locally produced floor tiles to Cameroun and Kenya.
"AfCFTA is leading a new path for Africa and it is important that players take advantage of the opportunities it presents us to shape up the continent's development," Mr Akoto said.
New technologies
The Head of Logistics Management at Geodrill, Pieter Buuts, said AfCFTA was also expected to help Geodrill access new technologies and expertise from other African countries.
He said that would enable the company to increase competition in the drilling industry and ensure that it remained efficient and innovative.
"The export of the drill rig and rod carrier is a significant development for the African mining industry, and it is a sign that African companies are becoming more competitive by investing in new technologies to drive efficiency," Mr Buuts said.
He added that the AfCFTA was expected to play a major role in the development of the African mining industry and that the export of the drill rig and rod carrier was a good example of how the agreement was already benefiting businesses on the continent.