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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

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    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

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    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

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NPP targets private sector growth with 200 plus factories

bycitibusinessnews
June 20, 2016
in Government, Top Stories
MP for Obuasi West, Kwaku Kwarteng

MP for Obuasi West, Kwaku Kwarteng

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The Member of Parliament for Obuasi West, Kwaku Kwarteng is optimistic of a marked growth of the private sector following the establishment of factories in all districts across the country.

The MP believes the investment to be made by the NPP government in that regard will foster private sector growth and development.

“The vision is that you start these activities and as you demonstrate that they are viable, then you invite private sector people to come in then government exits and move the resources to another area. So yes it is a combination of government and the private sector,” he stated.

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The Flagbearer of the NPP, Nana Akuffo has stated that an NPP government will as part of its job creation drive, establish factories in over the 200 districts across the country.

According to Nana Addo, the decision is also part of plans to industrialize the economy.

He further asserted that the setting up of these factories across the country will also provide solutions to the problem of unemployment in the country.

Though Mr. Kwarteng contends of a substantial support from the government, he believes the private sector will be the ultimate beneficiaries of the move.

NPP to provide enabling business climate

Commenting on some initiatives that the NPP government will put in place to favour the private business participation, Kweku Kwarteng intimated that some private businesses have already expressed interest and there are plans to devise policies that will assist them grow.

“As to the balance on the outskirt, it will depend on the local factors as there are areas that private sector people have already expressed interest. In that case government will need to partner them, find ways in which government can support it. Is it government helping them with guarantee, is it government giving them tax concession; those are partnerships that government can have with private sector.”

The MP added that the project is mainly to identify viable economic activity that could be industrialized in the various districts.

He insists the economic activities such as the processing of raw materials for exports will take Ghanaians out of poverty.

Government shoots down factory ambition                                                                                 

In response however, the deputy Trade Minister, Mutala Mohammed challenged the opposition to reconsider the statement made by its leader Nana Akuffo Addo.

According to him, the proposal is not feasible and should not be entertained.

“I think sometimes they make promises out of desperation. They always forget that they had made certain statements in the past and therefore if they want to make promises, they need to be very careful because if you make certain statements in the past and you want to make promises you should be mindful that the promises that you’d be making wouldn’t indeed contradict the very position you talked about,”

Mutala Mohammed also challenged the efficacy of the policy of the NPP following its earlier position that it will scrap all forms of import taxes that it considers a disincentive to manufacturing in Ghana.

“The NPP said some time ago that they were going to abolish some forms of import taxes, so it stands to reason that those forms of taxes include import duties and import duties are meant to generate revenue for the state and to also serve as a means of protecting the domestic industry,”

“Now if you say you are going to abolish all forms of taxes which include import duties, it means that anybody can import anything into this country at cheaper cost.” The Deputy Minister stressed.

–

By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana

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