The Association of Ghana Industries (AGI) has called for a reassessment of the country’s industrialisation drive, expressing concerns over the slow pace of progress.
According to the AGI, while Ghana has made strides in key sectors, the nation should be further ahead in its industrial development, drawing comparisons to countries like Malaysia, which have seen significant growth over the decades.
Speaking at the 2024 edition of the Ghana Industrial Summit and Exhibition, President of AGI Dr. Humphrey Ayim-Darke called for a more targeted approach to scaling up Ghana’s industrialisation drive.
“As we reflect on Ghana’s industrialisation journey, it is evident that progress has been slow. We must reassess the policies and strategies employed.
“Our efforts must be targeted at pillars of economic growth that have the potential to create a multiplier effect. Promoting value chains stands out as a critical catalyst to drive innovation, enhance competitiveness and foster sustainable industrial growth.
While the Association acknowledges the usefulness of initiatives like the One District, One Factory programme, Dr. Ayim-Darke, in a side interview told Citi Business News that macroeconomic issues, such as Cedi depreciation, continue to pose challenges for businesses.
He stressed that it will be critical for the government to address the forex exchange in its industrialisation quest.