Bauxite, aluminium integration: This is what transforming an economy is about - Dr Kwakye

Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye, has described President Nana Addo Dankwa Akufo-Addo's announcement that Ghana is building an integrated bauxite and aluminium industry as refreshing.

According to him, the move is geared towards transforming the local economy.

In a tweet sighted by GhanaWeb, the economist said, "It's refreshing to hear from the President's speech at the UN that Ghana is establishing an integrated bauxite and aluminium industry, refining its gold, processing its cocoa, and intends to explore its entire lithium value chain. This is what transforming the economy is abt [about]."

President Nana Addo Dankwa Akufo-Addo while speaking at the 77th session of the United Nations General Assembly on Wednesday, September 21, 2022, disclosed that Ghana was building an integrated bauxite and aluminium industry.

He added that Ghana was refining more of its natural resources - especially - gold, as well as, processing more of its cocoa.

He said, “We are processing more of our cocoa, refining more of our gold, and we are determined to exploit the entire value chain of our huge lithium deposits.

“We are busily building an integrated bauxite and aluminium industry and an integrated iron and steel industry, building new oil refineries and have, so far, attracted six (6) of the world’s biggest automobile manufacturers to set up assembling plants in Ghana, prior to producing them in the country,” he stated.

He stated that in line with government's industrialization agenda, the creation of a single market is key to achieving this vision.

President Akufo-Addo noted that Ghana has taken policy measures to add value to its natural resources.

It's refreshing to hear from the President's speech at the UN that Ghana is establishing an integrated bauxite and aluminum industry, refining its gold, processing its cocoa, and intends to explore its entire lithium value chain. This is what transforming the economy is abt.

— J. K. Kwakye (@JohnKwabenaKwa1) September 22, 2022