• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

Govt, AGI others urged to raise $5b for AfCFTA

17/07/2019
Reading Time: 2 mins read
405
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

The Alliance for Development and Industrialisation (ADI) one of the leading think tanks in the country, has urged the Nana Akufo-Addo-led administration and some key institutions to raise at least $5 billion in the next five years to enable some industries to take advantage of the Africa Continental Free Trade Area (AfCFTA).

ADI wants the Association of Ghanaian Industries (AGI) the Ghana Chamber of Commerce and Industry (GCCI) and the Ghana Export Promotion Authority (GEPA) to swiftly raise the $5 billion to grow and expand local industries.

“It is also imperative for government and the private sector to catapult the drive of this continental free trade. Associations such as the Association of Ghanaian Industries, the Ghana Chamber of Commerce and Industries, Ghana Export Promotion Authority could also take advantage of this and use it as a launchpad for their members,” ADI said in a release.

ADI has also urged the government to support and promote business associations so they can explore the opportunities to enable them to make an entry into other African countries.

ALSO READ: Here are 7 things to consider when transacting in Africa

“This is the time for Ghana to take the lead as well as take the advantage of this continental free to grow and strengthen its export market, as it has already begun with the 1D1F and the Planting for Exports Rural Development initiatives.

“Ghana’s economy can easily pay back the $5 billion credit facility that we are calling for through the exports of key commodities such as avocado, pineapple, coconut, sweet potato, among others,” the ADI statement said.

The United Nations Economic Commission for Africa estimates that the AfCFTA will boost intra-African trade by 52% by 2022.

“The government should be able to raise the $5 billion to take advantage of this opportunity which would put a stop to the way the government siphons the economy and still demand output. If we fail to take advantage of this opportunity then there is the likelihood that the economic growth of this country would be stagnant. We must take advantage of this opportunity to redeem our credibility integrity, capability in terms of industrialization,” the statement signed by Francis Mensah, Convener of ADI, stated.

“The government’s support to these industries should be sector-based such that the Agric sector will be catered for by the Ministry of Agriculture, also the textile and tourism sectors should be handled by the Ministry of Trade and Ministry of Tourism respectively. Indeed, we need to think over these entire sectors so they can grow,” the statement admonished.

Credit: Myjoyonline

Previous Post

FUEL WATCH: Fuel prices to shoot up by 1.5%

Next Post

Meet the CEO of Zenith Bank Ghana, Henry Oroh

Related Posts

Potential of AfCFTA,,ghanatalksbusiness.com

AfDB approves $11m grant to the African Continental Free Trade Area secretariat

25/07/2022
Potential of AfCFTA,,ghanatalksbusiness.com

E-commerce, payments and unlocking the potential of the AfCFTA

01/07/2022
AfCFTA, Bobby Madhav

AfCFTA offers massive economic opportunities, but there is still much work to be done

28/04/2021
AfCFTA in Ghana

Meet the two Ghanaian companies taking the AfCFTA bull by the horn

02/03/2021
Potential of AfCFTA,,ghanatalksbusiness.com

Ghanaian Businesses and AfCFTA: How to utilize its opportunities for business growth

24/02/2021
AfCFTA in Ghana

Localizing the African Continental Free Trade Area

22/09/2020
Next Post
Zenith_bank__ceo_henry_oroh

Meet the CEO of Zenith Bank Ghana, Henry Oroh

china_gov't_to_provide_scanners_for_all_airports_in_ghana

China to provide scanners for 5 airports in Ghana

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2021 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2021 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In