Business

Micro and small scale enterprises to dominate Ghanaian economic landscape under Akufo-Addo

Nana Akufo-Addo

Nana Addo Dankwa Akufo-Addo says his government intends following the examples of advanced economies in the world by ensuring that Ghana’s economic landscape is dominated by micro and small scale enterprises.

According to the 2016 presidential candidate of the New Patriotic Party (NPP), “in the economies of the United States of America, the European Union, the United Kingdom, China, Japan, India, Korea, and South Africa, small and medium scale enterprises continue to dominate their economic landscapes”, leading to the creation of millions of jobs for the citizenry.

Citing the example of Germany, the world’s fourth largest economy, the NPP flagbearer explained that “virtually all German businesses are small to medium-sized industries”, adding that “3.6 million small industries provide more than 60% of all jobs in Germany’s mighty economy”.

“That is a compelling example for us”, he said, stressing that “we will follow this example by expanding opportunities for small businesses in agro-processing, agribusiness, light manufacturing and industrial activity.”

Nana Akufo-Addo made this known in Tamale on Monday, August 8, 2016, when he addressed an extraordinary general meeting of the Association of Small Scale Industries (ASSI).

Fully aware of the importance to the growth of Ghana’s economy of small scale business sector, Nana Akufo-Addo noted that the NPP remains committed to making a decisive effort to industrialise the country.

“You have heard me speak about our policy of ‘1-District-1-Factory’. It is an integral part of our policy of rapid industrial development. We have identified over 300 projects across the 216 districts of the country to bring this policy into fruition. We are going to do it, and, in so doing, we will give a major boost to the activities of micro and small scale enterprises in the country,” said.

He continued, “the 1-District-1-Factory policy will go hand-in-hand with our resolve to stimulate private sector investment into a number of strategic, anchor industries – iron and steel, cement, bauxite and aluminum, petrochemical industry, vehicle assembly and the manufacture of machine parts and equipment.”

This, he stressed, will also open up huge opportunities for small scale businesses, adding that “it is this process of rapid industrialization that will help to create the hundreds of thousands of jobs needed by the masses of unemployed Ghanaian youths.”

Source: 3news.com|Ghana

Twitter: @3Newsgh

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