Ghana’s President, Nana Addo Danquah Akufo – Addo has reaffirmed the commitment of his administration to address the various threats posed to industries in the country.
Addressing audience at the National Policy Summit, President Akufo – Addo stressed that his government is working tirelessly to ensure that a conducive environment is created for the country’s industries to thrive.
He noted that the government has an ‘an exciting menu of new business opportunities’ that will drive economic growth during the course of his administration and beyond.
He expressed his sympathy for businesses that he claimed were swept out by the persistent power crisis in Ghana over the last few years.
“A significant number of Small, Medium and Large Scale operators were all brought to their knees as a result of the four years of dumsor induced by the mismanagement of the Energy sectorâ€, he said.
A recent report by the Institute of Statistical, Social and Economic Research (ISSER) of the University of Ghana had indicated that the persistent fluctuations in power supply – popularly known as the Dumsor as witnessed particularly between 2014 and 2015 cost the nation about $618 million in business activities; representing approximately 2% of GDP as at 2014 as well as hundreds of thousands of jobs for its huge labour market.
However, with some measures currently being implemented there is a general level of optimism across the country that if government delivers on its numerous promises, or the initiatives for raising funds for its projects pay-off to enable it clear some critical debts (those that bother more on the nation’s economic development like that of the energy sector); Ghana is safely on the pathway of rapid industrialization.