Ghana sets Agenda for Africa to stop selling Industrial raw materials abroad

Business News

From Left: Segun Ajayi-Kadir, Director-General MAN; Frank Jacobs, outgoing MAN President;  Adu-Agyei Gyamfi, President , Association of Ghana Industries, AGI…during the MoU signing ceremony between MAN and AGI for the establishment of Coalition of Industrial Associations in West Africa.

 By Franklin Ocheneyi

“OUR lazy approach of always rushing to the international market to sell our resources in their raw state which fetch us peanuts must stop.”

Nana Addo Dankwa Akufo-Dankwa, President of Ghana, made this call yesterday in Lagos during the 46th annual general meeting of Manufacturers Association of Nigeria, MAN.

Akufo-Addo noted that as our continent searches for effective strategies to anchor manufacturing and industrialization in our socio-economic agenda, it is far better to leave our resources untapped till our future generations rise up to the challenge and conscientiously develop the best policy-mix that prioritises industrialization as the most convenient cause to drive the much needed effects in our socio-economic development.

Represented by Yaw Osafo- Maafo, Senior Minister, he said: “Our biggest challenge as inhabitants of this resourceful continent Africa has been our inability to transform the abundant natural resources into opportunities for creation of jobs and wealth.

The continent boasts of young, determined and highly educated people across all sectors and yet we have not been able to get the right mix of policies to fully unearth and develop the entrepreneurial talents that abound in Nigeria in particular and on the continent.

“This is the bane that we need to fix. It can be done for it is not a rocket science to ensure a well-balanced and thought through policy-mix to mainstream industrialization in Africa.

‘There is no way we can achieve this if we do not ensure that our economies are fully integrated and connected with each other and operating on the same platform with the same voice.

“Why should Ghana and Cote D-Ivoire produce 60% or more of world annual cocoa beans and yet earn less than 6% of the global value chain activities of the cocoa industry? Ghana and Cote D’Ivoire with their collective production of 60% of global cocoa beans earned only about US$6.0 billion in 2016 but the chocolate in industry earned at the same time about US$120 billion,” he said.


MAN, AGI float Coalition of Industrial Associations in West Africa

Also at the event, MAN and Association of Ghana Industries, AGI, signed a Memorandum of Understanding (MoU) for the establishment of Coalition of Industrial Associations in West Africa.

Segun Ajayi-Kadir, Director-General MAN disclosed that the MoU was borne out of the need to  look beyond our borders and partners with each other and to share experiences that we have  and to reinforce each other’s strength in advocating for  conducive atmosphere for our businesses.

“We held several meetings in Lagos and in Accra and we have agreed on the contents of the MoU. That it will guide us in the process of our incorporation. We intend to form the nucleus of the Coalition of Industrial Associations in West Africa. It is inevitable as it will really lead to the revitalsation of the Federation of West Africa Chambers of Commerce and Industry .The President of Association of Ghana Industries, AGI, spoke about today.

“Today is a good day and a memorable one for AGI and MAN, and we urge you to watch as we sign this important document for the establishment of Coalition of Industries in West Africa,” he said.


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