GOV’T TO PARTNER PRIVATE SECTOR FOR ECONOMIC GROWTH

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Story By: Bernice Bessy, Accra

The Minister of Trade and Industry, Mr. John Alan Kwadwo Kyeremanteng has stated that government has evolved a 10 Pillar Strategic Plan to move the country forward in terms of industrialization and growth.

To make this plan works properly, the Minister said, government ought to partner the private sector which is always seen as the engine of growth for development.

He indicated that Nana Addo Dankwa Akufo-Addo’s administration intends to move the country forward to an appreciable level and cannot do this without making the private sector the centre for growing the economy and achieving this aim.

This was contained in a speech read on his behalf (Mr Alan Kyeremanteng), by Carlos Ahenkorah, Deputy Minister of Trade and Industry at the 7th Ghana Entrepreneur and Corporate Executive Awards and Gala Dinner organized by Entrepreneurs Foundation of Ghana and supported by the Ministry of Trade and industry at the State House, Accra.

He said the business community must take advantage of the various policies outlined by the government for purposes of economic growth.

This, he said, includes a stimulus package for companies and industries that are distressed, one-district one-factory initiative, Strategic Anchor Industry, a flagship programme for industries to sustain the economy, the establishment of Specific Product Industrial Parks (free zones), Small and Medium Scale (SME) development, Export Development, Businesses Regulatory Reforms, among others.

The Sector Minister disclosed that plans are far advanced by the government to institutionalize public-private sector dialogues where the public would engage actors in the private sector.

Kojo Oppong Nkrumah, a Deputy Minister for Information, in a speech read on behalf of Ibrahim Mohammed Awal, Minister for Business Development, indicated that the government believes in empowering the private sector to ensure economic growth.

The Deputy Information Minister explained that the tax cut announced in the budget and other measures had been put in place to strengthen the capacity of banks to serve the citizens better.

Mr. Nkrumah noted that the Nana Addo administration had also launched the National Industrialization Revitalization Programme, an economic intervention programme to provide a stimulus package of over GH₵200 million to existing companies that are under distress, adding that “this intervention will create massive jobs to promote rural industrialization.”

He added that “we are of the belief that creating innovative and competitive environment will go a long way to grow the base of the indigenous Ghanaian companies and entrepreneurs to add value to what they are already doing.”

Mr. Nkrumah revealed that the vision of the government would not materialize if the actors in the private sector fail to honour their obligations.

Kojo Oppong Nkrumah, reaffirmed government position to resolved challenges especially within the banking sector to address fund needs of enterprises.

He said government has rolled out an economic intervention programme at the tune of GH$200 million to support distress companies in terms of technical and financial assistance.

Hon. Oppong Nkrumah further reiterated the establishment of One District One Factory, Strategic Anchor Industries, Small Scale Medium to compete with Companies outside Ghana, Improve export development and set up industrial park.

This, he said would be achieved through institutionalization of public private sector dialogue to ensure effective economic growth, business regulatory reforms and improve retail infrastructure.

Dr Nii Kotei Dzani, winner of 2016 award also advised the youth to have the right attitude and build up good integrity towards entrepreneurship.

According to him what one needs to state a business is not money but the right attitude to gain trust and confidence from your respective partners.

Corporate Chief Executives awardees are Mr Felix Nyarko-Pong, Chief Executive Officer of Unibank Ghana Ltd for Banking and Finance CEO of the year, Mr Kojo Addae-Mensah, Group Chief Executive Databank Group for CEO investment Banking Industry, Mr Ebenezer Twum Asante, Chief Executive Officer Scancom Plc for Telecommunication CEO of the year.

Ms Valentina Mintah, Chief Executive Officer West Blue Consulting Ltd, won the Business and ICT consulting CEO of the year Mr Joe Mensah, Vice-President and Country Manager, Kosmos Eneergy Ghana for Oil and Gas Exploration and Produdction CEO of the yerar, Mr Rman Malhotra, Country Manager MAC Ghana Auto Ltd for Automotive CEO of the yerar, Ms Angela Kyeremanten-Jimoh, Country General Manager IBM Ghana Ltd won the Information Communication and Technology Services CEO of the year.

Mrs Freda Duplah, Managing Director of Nestle Ghana Ltd won the Food and Beverage Industry CEO, Mr Philip Oti-Mensah, Chief Executive Officer OmniBank Ltd won the SME Financial CEO, Mr Joshy Varkey, Managing Deirector, Nyonkopa Buying Ltd for Agro Business Cocoa Industry CEO of the yerar and Mr Emmanuel Adu-Sarkodee, Group Chief Executive Officer, CDH Financial Holding for Group Chief Executive of the year.