Business News of 2014-07-02

Ghana must go back to industrialization – Ato Gaisie

Founder and President of Entrepreneur Foundation of Ghana (EFG), Sam Ato Gaisie has charged government, policy makers and other stakeholders as a matter of urgency to revert to Dr. Kwame Nkrumah’s ideals of industrialization to help reduce the current heavy imports and unemployment rate in the country.
According to Mr. Gaisie, industrialiasation is the only key strategy to accelerate economic development and job creation in Ghana. He made this known at a media launch of 2nd edition of 2014 Ghana Made Awards 2014, scheduled for October.
Mr Gaisie who was not happy about the current neglect of Ghana’s manufacturing sector argued that, over 80 percent of products found in most supermarkets in the states are all made in USA and Ghanaian leaders should put in place urgent measures to replicate the same module to help grow our local economy.
“Anything you pick on the shelve of supermarkets in America is ‘Made in USA’ but when you come here [Ghana] over 80 percent of our goods are imported and only 20 percent is our local goods, this is serious and we cannot ran a country like that, if we don’t produce and patronize our own products how do we expect somebody to do so outside the country?, this is what is depreciating our cedi everyday” he said.
Mr. Gaisie mentioned that government cannot boast of high employment rate and promise citizens good standards of living with continues neglect of industriliazation and manufacturing. He therefore cautioned “Ghana government and leaders need to seriously address the teaming unemployment rate among the youth before they come against governments, if we want to grow and continue enjoying the peace that we have as a nation, this should be everybody’s business”.
Besides, he encourage Ghanaians to show patriotism and participate in the well-being and financial stability of the nation by making conscious effort to buy and use made in Ghana products in their homes, board meetings and official functions, in order to save indigenous and multinational industries from collapsing.
The Ghana Made Awards to be held in October this year, on the theme “Industrialisation, the key strategy to accelerated economic development and job creation” is geared towards exposing Ghanaian indigenous products to all citizens across the country as part of effort to create awareness, promote and build product loyalty to save the economy and create jobs. Specific products that are adjudged by the consuming public as embodying the highest standards of quality will receive the Best Ghana Made Product of the Year Awards.
Entries are opened and will be closed July 25; nomination will be for Made in Ghana products from indigenous and multinational industries in Ghana. The product categories include: Ghana Personality of the Year, Product of the year, Lifetime, Emerging, Distributor of the year, Innovative, Indigenous, Natural Mineral Water, Food & Beverages, Textile and Building and Construction.
Others are: Pharmaceuticals, Herbal, Rubber and Plastics, Toiletries and Cosmetics, Wood Furniture, Aluminum, Electrical, Tissue &Paper, Alcoholic and Non Alcoholic, Print Media, Electronic Media, Financial, Petroleum, ICT, Agro Processing and Metal and Steel products.
The assessment for Ghana Made Award will be made on the basis of seven parameters, Product Excellence and Quality, Product Content (local materials) Product Innovation Product Leadership & Benefits, Product Features & Packaging, Product Value and Sustainability and Product Certification.