The Chief of Staff, Julius Debrah, has urged the Association of Ghana Industries (AGI) to assume a pivotal role in leading the country’s industrialization agenda.
During the investiture of the newly elected AGI President and executive members in Accra, Debrah stressed that the private sector is the key driver of economic growth. He encouraged the association to transcend traditional limits and advocate for innovative initiatives that will establish Ghana as a manufacturing center in the sub-region.
The Chief of Staff reiterated the government’s commitment to creating a business-friendly atmosphere. “Our objective is to ensure that Ghanaian industrialists are prepared to compete on a global scale. The government will persist in providing the necessary supportive environment to realize our industrial aspirations. Consequently, the government is refining policies and regulations, enhancing infrastructure, and improving energy, transport, and digital networks to facilitate industrial advancement,” Debrah assured.
The new leadership of the AGI is headed by Dr. Kofi Nsiah-Poku, a distinguished pharmacist and industrialist.
At his investiture ceremony, Pharmacist Nsiah-Poku presented an ambitious vision for inclusive industrial growth aimed at reshaping Ghana’s economic landscape.
Dr. Nsiah-Poku pointed out a “complex landscape” of challenges that AGI members encounter daily, specifically mentioning:
- High Energy Costs: Which continue to escalate production overheads.
- Credit Constraints: Limited access to affordable capital for growth.
- Trade Competitiveness: The difficulty in competing with lower-priced imports and expanding into global markets.
In spite of these challenges, the new President underscored that these issues serve as a catalyst for innovation. “Within these challenges lie significant opportunities for us to reevaluate our strategies and emerge more resilient,” he remarked.
At the heart of his administration’s agenda lies the support for Small and Medium-sized Enterprises (SMEs). Dr. Nsiah-Poku emphasized that for the economy to genuinely prosper, industrial growth must be inclusive, ensuring that smaller entities are not overlooked.
To realize this goal, he committed to promoting concessionary credit facilities specifically designed for industry participants and assisting in the enhancement of production processes. He aims to support SMEs and women entrepreneurs through capacity building.
By obtaining lower interest rates and more adaptable repayment terms, the AGI seeks to empower local manufacturers to expand their operations and enhance their market presence.
