Indigenous enterprises growth my priority - Akufo-Addo

Wed, 5 Dec 2018 Source: thefinderonline.com

The President, Nana Addo Dankwa Akufo-Addo, has indicated his government’s resolve to support and build the capacity of indigenous enterprises in the country to be globally competitive.

He noted that his government has so far facilitated access to GHC237 million in the form of medium-term credit to 16 firms in the oil palm, pharmaceutical, agro processing, beverages, cosmetics, textiles and poultry industries under favourable credit terms.

The President, who inspected work at the Healthy Life Beverages Limited, a local fruit juice concentrate and milk solids manufacturing company, as part of his three-day tour of the Greater Accra Region, expressed optimism about his government’s programmes and initiatives aimed at driving the industrial revolution agenda and setting the country on the path of prosperity.

Support for local firms to compete globally

He was impressed at the progress of work at the company, and described the company as an exemplary Ghanaian-owned industrial enterprise which has been supported to utilise its full capacity to compete on the global market.

With government’s support, the President noted that, Healthy Life Beverages Limited is now able to utilise its idle capacity and to increase its productivity and output by doubling its working capital to some $3.3 million for raw material requirement, as well as an additional financing of some $1.6 million for machinery, which has led to an increased plant capacity utilisation from 40% to 80%.

This has further led to an increase in the company’s direct workforce to over 300 technical and administration staff.

“This company is one of the leading companies that is supporting our whole programme of economic transformation that is going to make Ghanaian enterprises globally competitive, not just competitive here in Ghana, not only competitive here in West Africa, not just competitive here in Africa, but globally. We want Ghanaian enterprises to be globally competitive.”

We are transforming Ghana

The President said there are visible projects to speak to his government’s commitment to transforming the economic fortunes of the country, and thus called on those who refuse to see them to open their eyes wider to see the transformation he has brought to the country.

“People who for eight years did nothing for this country and who are saying that nothing is going on, they should listen very carefully to the things I am saying; if their eyes are closed, let them open their eyes and they would see that we are transforming Ghana.”

The President congratulated the staff and management of the company, adding that “they are an indication of what is possible if we put our minds to it.”

President impressed with work on motorway project

The President also inspected construction works on the $60 million three-tier interchange at the Tema end of the Accra-Tema Motorway.

The interchange, scheduled to be completed in 2020, would replace the motorway roundabout to ease traffic on the Accra-Aflao highway and the Tema-Akosombo road and improve Ghana's international corridors.

The project, funded with a grant by the Japan International Co-operation Agency (JICA), is being executed by Messrs Shimizu-Dai Nippon Joint Venture (SDJV), with CTI Engineering International Co. Ltd as consultants.

Impressed with the progress of work on the project, the President expressed Ghana's appreciation to the Japanese government for the show of friendship, saying, "This is one more example of Japanese solidarity in Ghana."

He was hopeful that the project would be completed on schedule to promote Ghana's economic growth and prosperity.

The President also inspected work on the ongoing construction work of the GH¢47 million 5.4km concrete road project in the Tema industrial enclave being funded by government.

The project, being undertaken by two local construction firms – Messrs Joshob Construction Limited and Lemet Construction Limited – is expected to be completed in December 2019.

When completed, the roads would provide an integrated solution to urban development in Tema by promoting sustainable economic growth, as well as enhance access to market and the Tema Port for enhanced economic activities of industries in the catchment area of the roads.

We will put Ghana on a new track

Addressing a durbar of chiefs and people of Tema, the President assured the people of his government’s commitment to transform the economic fortunes of the country and put the country on a new track to prosperity.

“We are going to put this country on a new track,” he noted.

The President thus called on the people to support his government’s programmes and policies to succeed.

“I want all of you to help me to complete the good work that I have started for the benefit of all,” he added.

Source: thefinderonline.com
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