Business News Wed, 30 May 2018

Ghana to become Africa’s industrial hub soon – Trade Minister

Plans are underway to make Ghana the new industrial hub of Africa, Trade and Industry Minister, Alan John Kyerematen has disclosed.

Referring to some key policies such as the 1-District, 1-Factory initiative, Mr Kyerematen underscored government’s determination to ensure Ghana’s industrial transformation.

He made this known at the handing over of accreditation by DAkkS, a German accreditation body, to the Ghana Standards Authority on Wednesday, May 30, 2018.

According to the Minister, “One of the strategic goals of this government is to make Ghana the new industrial hub for Africa. I am sure you are all aware that the government has embarked on a very comprehensive programme for industrial transformation; the 1D 1F initiative which seeks to bring industrialization to the doorsteps of every Ghanaian and particularly in our rural communities.”

“We have depended on cocoa and gold for over 100 years and it is time for our country to move on. We have identified a number of new strategic anchor industries which are at the centre of this transformation agenda,” he added.

Mr Kyerematen disclosed plans to develop products in the petrochemical, automobile, garment and pharmaceutical industries, a move he believes would reduce the reliance on gold and cocoa as key foreign exports.

He said, “We are looking at developing a petrochemical industry, an automotive and vehicle assembly industry. We will go into industrial chemicals. We are going to aggressively pursue a programme in garments and textiles. In pharmaceuticals, in the manufacturing of machinery and equipment.”

The Trade Minister bemoaned the influx of foreign products on Ghana’s domestic markets, calling for the need to set up a solid quality infrastructure.

“If we do not pay attention to our quality infrastructure, we cannot even compete on our own continent. It is not always about exports. It is also about imports. I am sure many of us as consumers are aware of the dumping of poor quality goods in our country. If we have a good, solid quality infrastructure, all these goods that are coming in would actually have no space in our domestic market,” he maintained.

German Ambassador to Ghana, H. E. Christoph Retzlaff and some representatives from DAkkS and PTB, the National Metrology Institute of Germany, were present at the handing over ceremony.

Source: www.ghanaweb.com