There's more work to do to grow the country's industrial sector - Zenith Bank CEO

Chief Executive Officer of Zenith Bank Ghana, Henry Oroh has emphasized the need for government to focus more attention on growing the country’s industrial sector as part of efforts to transform the economy and boost development in Ghana.

Speaking at the 3rd CEO Summit Tuesday, May 22, Mr. Oroh maintained that though there has been significant growth in the industrial sector, it relatively is still underperforming compared to other neighbouring countries in the sub-region.

“The banking sector is a major contribution to the service sector. The industry is growing faster than service, it’s in itself a very good thing and I also think that the level of growth for the industry in Ghana is probably not high enough. Ghana's industry based on the statistics we have is growing at a rate of about 3%, Nigeria with a more mature market is growing at a rate of about 10% and the Sub-Saharan sub-region is growing its industry at a rate of over 4%”, he noted.

Policies directed at increasing productivity and growth in the industrial sector he said should be the prime focus of government and the various stakeholders if indeed Ghana has a chance of gaining economic independence and stability.

“We have a lot to do in terms of supporting growth in industry based on the physical policies we make, protection for the industries, incentives for small-scale and the private sector, these are things the government and the various stakeholders can do to see how we can improve the contribution from the industry sector but that the industry sector is performing better than the service sector, it’s a good thing in general for Ghana as a country”, he stated.

The 3rd Ghana CEO Summit came off at the plush Kempinski Gold Coast City Hotel, in Accra. Critical issues about the Ghanaian private were discussed by a carefully selected panel of acclaimed international experts and local peers through plenary sessions, deal rooms and open fora.

Since its inception, the Summit has hosted more than 1200 attendees from some 1,000 participating organizations with more than 30 top-level speakers presenting.

The Summit was organized by the Chief Executives Network Ghana Limited in partnership with Deloitte and Ghana Investment Promotion Centre (GIPC).