Whayne Supply Company, based in Louisville, KY, announced it has reached an agreement with the West African republic of Ghana to provide used and refurbished heavy equipment to the country’s Ministry of Roads and Transportation.
The multi-million dollar venture partnership was finalized with the help of The EconVillage Group LLC, a Louisville-based company whose mission is to create, invest, deploy and sustain private commercial opportunities between African and Kentucky businesses. The deal is the first International venture-partnership arranged through The EconVillage Group LLC.
“We are excited to be doing business with the Republic of Ghana,” said Richard Scott, asset manager of Whayne Supply Company. “This is the beginning of what Whayne Supply believes will be a long relationship helping the Ghanaians build and repair roads while improving the country’s overall infrastructure.”
The deal calls for Whayne Supply to not only provide used heavy equipment such as bulldozers, graders, trucks and power generators, but also to train Ghanaians in the operation and maintenance of the equipment. Plans are already under way to begin road construction in Ghana upon delivery of the equipment. According to Scott, the first pieces of equipment reached Ghana in April 2004.
“This is a win-win situation for both Whayne Supply and Ghana,” said Nathaniel Green, CEO of EconVillage Group. “The goal of EconVillage Group is to foster business-to-business relationships between Kentucky companies and their African counterparts. We are looking for partners who are willing to make a lasting commitment to the development of countries like Ghana to foster a lasting impact on African economic.”
The agreement between Whayne Supply Company and the Ghanaian Ministry of Roads and Transportation will pave the way for an even brighter future,” added Green.
The relationship between Ghana, Whayne Supply and EconVillage Group had its genesis almost 25 years ago through the Sister Cities of Louisville Initiative with Tamale, Ghana. A Sister Cities Summit between the two cities in 1999 centered on business development and introduced Whayne Supply to the Ghanaian Government and its emerging needs.
The Whayne Supply and Ghanaian relationship is the first venture partnership to be finalized since that summit. EconVillage Group continues to identify and recruit Kentucky-based companies looking to establish long-term, co-beneficial relationships with entrepreneurs and civic leaders in the nation of Ghana.
Located in Louisville, KY, EconVillage Group LLC, uses American free enterprise principles and the desire of entrepreneurs and civic leaders to further fundamental economic progress in Africa.
According to EconVillage Group, such ventures will stimulate quality-driven and socially responsible agriculture, manufacturing and service industry expansion.