African businesses must expand their production capacities in order to meet the growing demand on the continent, the President of the Ghana Union of Traders Association (GUTA) Dr Jospeh Obeng Siaw has said.
He indicated that increased production capacities will ensure that African businesses also remain competitive against global firms.
“it is very important that we do value addition, we make sure that we are able to produce to add value and process our raw materials into finished goods at competitive pricing,” he told TV3 in an interview.
He added “That is where people of Africa can have something to buy among ourselves. So it is not lip service.
“We have to intensify our production capabilities to be self-sufficient in so many things especially those areas where we have a competitive advantage because we cannot pretend that Africa can produce everything that the world is producing.
“So we should look within those areas we can.”