Business News of Wed, 5 Sep 201812

ID1F: Support existing factories to expand first – Nduom

The Chief Executive Officer (CEO) of GN Group of companies, Dr. Papa Kwesi Nduom has urged the government to partner with existing local factories to ensure the success of the one district one factory initiative.

According to him, the government can do this by supporting the existing factories to expand, boost their capacities and employ more people.

Dr. Nduom said, bringing new factories onboard is good but they do not have the expertise the existing ones do.

“We can’t do it by bringing new entities. It won’t work. They don’t have the experience. It should be on the back of those who are there already,” he said at the 2018 edition of the Ghana Economic Forum on Wednesday which had the Vice President, Dr. Mahamudu Bawumia in attendance.

Before the 2016 elections, President Akufo-Addo promised to construct factories within all the districts in the country.

The government has however been criticized in recent times for not being able to ensure the construction of the factories as promised since only a few have seen the light of day.

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Dr. Nduom said he has companies producing rice and others assembling fridges, TVs and other electronic gadgets which are creating jobs for a number of Ghanaians urging the government to support such ventures.

“If you bring new factories to my district we will be happy but we have some there including my own. We are assembling fridges, TVs; we’ve built an industrial enclave. With something like that, we can do a partnership with government and expand it. Learn from our mistakes and move forward…There is nothing that a Chinese man can do that I can’t do. There is nothing that an American can do that I cannot do,” he added.

Support Ghanaian entrepreneurs to succeed

Dr. Nduom also used the opportunity to court support for Ghanaian entrepreneurs.

“Stop teasing Ghanaians entrepreneurs who are struggling. I want Ghanaians to succeed. When I walk around West Africa, I don’t see anyone compared to Ghana.”

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