President Akufo-Addo has called for the intensification of the links between Ghanaian and Zambian enterprises as part of efforts to boost trade between the two countries.
With Zambia and Ghana recording similar GDP growth rates in 2016, i.e., 3.3% and 3.6% respectively, as a result of high fiscal deficits, low investor confidence, falling commodity prices and low agricultural productivity, President Akufo-Addo explained that the time has come for the two countries to move away from being mere producers and exporters of raw materials.
“There can be no future prosperity for our peoples in the short, medium or long term, if we continue to maintain economic structures dependent on the production and export of raw materials. Unless we industrialise, with the goal of adding significant value to our primary products, we cannot create the necessary numbers of good-paying jobs that will enhance the living standards of the masses of our country,” he said.
To this end, President Akufo-Addo outlined a number of policies he has initiated since assuming office in January 2017, which has shifted the focus of Ghana’s economy from taxation to production.
He also applauded his Zambian counterpart for his recently approved National Development Plan, on the theme “Accelerating development efforts towards vision 2030 without leaving anyone behind”.
The Zambian programme is hinged on the pillars of economic diversification and job creation, reduced poverty and vulnerability, reduced developmental inequalities, enhancing human development, and conducive governance environment for economic diversification, to create a diversified economy for sustained growth and economic development is highly commendable.
“The transformation of our two economies we seek through these measures should make our enterprises and businesses very competitive in Africa, and beyond,” he added.