Business News Thu, 14 Dec 2017

Ghana's economy must be private sector driven - Yofi Grant

Chief Executive Officer (CEO) of the Ghana Investment Promotion Center (GIPC), Yofi Grant has reiterated government’s commitment to transform Ghana’s economy through implementation of significant policies.

Among these strategies is the transformation of the country’s economic structure by adding value to the raw materials and resources before exporting which according to Mr. Grant “is well founded” as it will ensure Ghana “participates better at the value-end of business”.

“We’ve been exporting our bauxite for quite a while. Now a ton of raw bauxite sells from approximately $60 but when it’s gone through the conversion process and come out with the end product of aluminium, a ton is $6,000. If you’re a country where would you like to be? At the extractive end where it’s only $60 or at the end where it’s $6,000?” he observed while addressing a breakfast meeting in Accra on December 13, 2017.

The GIPC CEO also highlighted the President’s vision of making Ghana's economy private sector driven.

In view of this, he said, his outfit has put measures in place to link up local businesses to foreign investors so as to make the private sector more attractive and competitive.

“That is why at GIPC, when we go on our trips and we have foreign direct investors coming in, we try to march them up with indigenous people so that we also engage our private sector to rise up to it,” he explained.

Source: www.ghanaweb.com