President Akufo-Addo yesterday announced a GH¢270million stimulus package for local industries.
Under the programme, the Ministry of Trade and Industry will provide technical assistance, financial and operational management support to 85 companies across the country, while a facility of GH¢237 million in the form of medium term credit will be made accessible to 16 firms, including pharmaceuticals, agro-processing, beverages, cosmetics, textile industries, among others.
This was when he visited Healthilife Beverages Limited located off the Spintex Road to commence his three-day tour of the Greater Accra Region.
The President wondered why despite the implementation of many policies by his administration, the opposition party pretends not to appreciate them, saying “let them open their eyes; they will see that we are transforming Ghana.”
He said the time has come for his political opponents in the National Democratic Congress (NDC) stop the empty criticisms.
“They handed to me an economy which was on its knees, choking with a huge debt burden, high interest rate, high deficit, low growth rate et al.
“However, having taken over the administration of the country a little over two years ago, my government has managed to turn around the economy, making good postings,” he asserted.
President Akufo-Addo commended management and staff of Healthilife Beverages Limited, saying “they are an indication of what is possible if we put our minds to it.”
Managing Director of Healthilife Beverages Company Ltd, Nuamah Fameye, on his part, expressed gratitude to President Akufo-Addo for the support given to the company to save it from collapse.
He also thanked Ministry of Trade for selecting the company as one of those to benefit from the President’s support to indigenous Ghanaian businesses.
The stimulus package, the Healthilife MD explained, “seeks to reduce the burden of high interest commercial loans for indigenous businesses. We are very grateful for your approval and wish to thank you for letting us join this eminent group and to let our business prosper.”
It would be recalled that upon assumption of office in 2017, President Akufo-Addo initiated a stimulus package to support existing Ghanaian industries, revive them and improve their competitiveness.
As a result of the package, Mr. Nuamah stated that the company has been put on a sound footing, and now employs about 300 people.
The establishment of another manufacturing line, he said, will provide employment for additional 1,000 young Ghanaians, while some 5000 peasant farmers across the country would be engaged in the business; from retail to distribution of the company’s products.
“As you can see, your laudable initiatives, especially 1-District-1-Factory (1D1F) and Planting for Food and Jobs are a perfect fit for our ongoing projects. We are already off-takers for locally produced oranges, pineapple and mango, and we are going to add coconut water and water melon. We believe a sure way to making 1D1F a sustainable reality across the country is to partner local businesses like us,” he told the President
President Akufo-Addo later cut the sod for roads in Tema New Town to be constructed.
Many people thronged the place even before he arrived at the location.
Addressing the chiefs and people of Manhia at a durbar, he assured them that all roads in the area and Tema, in general, would see a facelift.
He, therefore, asked Ghanaians to support the developmental agenda of the country.
The chief of Manhia thanked President Akufo-Addo and his government for competently handling Ghana’s economy and introducing the Free Senior High School (SHS) policy.
The chief, on behalf of his elders and subjects, promised to support the President and his government in their efforts to develop the country.