Ms Tove Degnbol, the new Danish Ambassador, has paid a visit to the facility of Intelligent Card Production Systems, (ICPS), a subsidiary of Margins ID Group, a Ghanaian indigenous company.
The $ 3.5 million state of the art card and security printing equipment was secured under a DANIDA mixed credit facility which enabled a significant upgrade of security and printing facilities of ICPS.
The printing facilities puts ICPS in a pole position to be the leader in security printing and the manufacture of secure documents and cards on the African continent.
Ms Degnbol expressed happiness that the Danish mission in Ghana has played a significant role in the ICPS success story and reiterated the Embassy’s unwavering commitment to deepen the cooperation between Ghana and Denmark through joint activities that would serve the needs of Ghanaian citizens, organisations and companies.
“Ghana and Denmark have had close relations as far back as anyone can remember, and over the years the relations have become more comprehensive and of mutual benefit for our two countries,” she said.
She expressed joy at the upgrade of the facility of ICPS to meet the high standards in the production of cards and security systems.
Ms Degnbol expressed the hope that the upgrade would consistently put ICPS on a pole position to undertake the printing of the full range of secure cards and documents, including personalized ID cards as well as a fully configured data card personalization systems.
Mr Moses Baiden, Chairman of Margins Group, commended the Danish Embassy for the various financial support instruments the company had accessed to upgrade its facility saying the assistance was a bold step to the operational advancement of the company.
“The upgrade of our facility has enabled the company to achieve its vision of producing world-class products in Ghana and to contribute to the knowledge industry in the area of secured printing across different form factors such as ID cards, cheques and labels in the country and the West African sub region,” he said.
Mr Baiden said the Danish Government Fund- the Industrial Fund for Developing Countries has signed a binding commitment to provide ICPS with another facility of $ 5 million to refinance its short term debts with a medium term loan.
The credit facility would also support ICPS deliver products on a supplier credit basis to IMS, Margins ID Group subsidiary which is in a Public Private Partnership with the National Insurance Authority.
The facility would bring the total Danish financing for ICPS this year to $ 8.5 million.
“The successful accessing of these facilities by ICPS is a testament to our credentials as a company, the talent that our people possess, and our credibility and bankability as a company,” Mr Baiden said.
He expressed the hope that the relations between Ghana and Denmark would be strengthened to pave way for local companies to thrive and contribute their quota to the economic renaissance of Ghana as the beacon of hope for Africa by creating the enabling environment through accessing grant support.
Source: GNA
