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President Akufo-Addo Champions Ghana’s Economic Transformation at China-Africa Private Sector Forum
In a powerful address delivered at the China-Africa Private Sector Cooperation Forum on September 7, 2024, in Shenzhen, China, President Nana Addo Dankwa Akufo-Addo of Ghana made a compelling case for stronger China-Africa economic collaboration, highlighting Ghana’s efforts toward industrialization, agricultural modernization, and green development.
His speech, delivered as part of the Forum on China-Africa Cooperation (FOCAC), outlined the transformative opportunities for investment in Ghana while emphasizing the country’s strategic role as a hub for economic growth in Africa.
In his address, President Akufo-Addo praised the remarkable achievements of Shenzhen, a city that epitomizes China’s economic transformation through innovation and investment. “Shenzhen symbolizes the extraordinary achievements that are possible through innovation, investment, and partnership,” he remarked.
Drawing parallels, he pointed out how similar efforts in Ghana are beginning to bear fruit and invited Chinese and global investors to join Ghana in replicating these successes across the African continent.
Central to President Akufo-Addo’s address was Ghana’s ambitious industrialization agenda. He emphasized that the key to Ghana’s economic transformation lies in adding value to its abundant natural resources.
One of the flagship sectors highlighted by the President was the burgeoning vehicle assembly industry, which has already attracted major global brands like Toyota, Nissan, Volkswagen, and Sinotruk to set up plants in the country.
The President assured potential investors of Ghana’s conducive investment environment, supported by the country’s Automotive Development Policy, which offers tax breaks and incentives for vehicle assembly operations.
With the African Continental Free Trade Area (AfCFTA) Secretariat based in Accra, the President further stressed that Ghana offers investors a strategic gateway to the entire African market, positioning itself as a vital hub for regional trade and manufacturing.
Beyond the automotive sector, President Akufo-Addo outlined the success of the “One District, One Factory” (1D1F) initiative, a cornerstone of his government’s industrialization strategy.
Through this programme, the government has facilitated the establishment of at least one manufacturing facility in each of the country’s 261 districts.
As a result, 321 new factories have been developed, with 211 of them being brand-new enterprises. The initiative has also led to the creation of 170,000 jobs, and the President projected even more growth as the program continues to expand.
He urged Chinese investors to consider the vast potential within this program, emphasizing its role in decentralizing industry, creating jobs, and driving rural development.
President Akufo-Addo also acknowledged agriculture as the backbone of Ghana’s economy, contributing significantly to the nation’s GDP. However, he stressed that the sector remains ripe for modernization. The President highlighted Ghana’s “Planting for Food and Jobs” (PFJ) initiative, which has already supported over 1.9 million farmers, significantly boosting the production of key staples such as maize and rice.
Yet, the President was keen to underscore the immense opportunity for investment in agro-processing, a sector he believes will move Ghana up the agricultural value chain. With Ghana being the world’s second-largest producer of cocoa, he urged investors to seize the chance to partner in agro-processing, storage, mechanization, and sustainable agricultural practices, including organic farming.
President Akufo-Addo further emphasized his government’s commitment to green development, seeing it as both a moral imperative and an economic opportunity. He highlighted Ghana’s ambitious goals to increase the share of renewable energy in its energy mix to 10% by 2030, presenting a wealth of opportunities for investment in solar and wind energy.
“Ghana’s doors are wide open to investors who share our vision of a prosperous, industrialized, agriculturally modern, and green Africa,” President Akufo-Addo declared, adding that Ghana offers significant incentives, such as tax breaks and guaranteed feed-in tariffs, to encourage investments in renewable energy.
The President also emphasized the need for improved waste management and recycling, viewing it as an area of immense potential for economic value creation.
In closing, President Akufo-Addo called for China and Africa to deepen their economic cooperation through the Belt and Road Initiative, stressing that partnerships must be built on mutual respect and sustainable development. “The time is ripe for investment in Ghana,” he urged, calling on investors to seize the opportunities in industrialization, agriculture, and green development.
As Ghana continues to pave the way for economic transformation, President Akufo-Addo’s message at the China-Africa Private Sector Cooperation Forum was clear: Ghana is open for business, ready to partner with investors to build a future of shared prosperity and sustainable growth.
The Majority Chief Whip and Member of Parliament for South Dayi, Rockson-Nelson Dafeamekpor, says Parliament and government officials are working closely with authorities in the Netherlands following the detention of the Member of Parliament for Asante Akyem North, Kwame Ohene Frimpong.
Speaking on the matter on Channel One news yesterday, Mr. Dafeamekpor disclosed that the MP was detained at Schiphol Airport in Amsterdam on Sunday while travelling on a private trip.
According to him, Mr. Frimpong personally informed him about the incident around 5 a.m. on the day of the arrest.
He said the issue was immediately escalated to parliamentary leadership and other state officials for intervention.
Mr. Dafeamekpor explained that the Majority Leader, who was in transit at Heathrow Airport in London at the time, travelled to Schiphol to engage the detained MP and better understand the situation.
He added that the Minister for Foreign Affairs, Ghana’s Ambassador to The Hague, the Attorney General, the Speaker of Parliament and the Clerk to Parliament had all been involved in efforts to address the matter.
According to him, a Ghanaian lawyer based in The Hague and qualified to practise there has also been engaged to represent the MP.
“The lawyer is dealing with the issues, but let me confirm that he is fine,” Mr. Dafeamekpor stated.
He noted that Parliament and the legal team were still waiting for official documents, including an authenticated copy of the arrest warrant and other details from Dutch prosecutors handling the matter.
The South Dayi MP therefore urged the media and the public to avoid speculation until all facts surrounding the case are confirmed.
“We want to urge all the media houses not to be throwing in things that have not been confirmed,” he said.
Mr. Dafeamekpor further explained that Parliament’s involvement was partly because the MP was travelling with a diplomatic passport.
He noted that extradition and detention cases involving political figures are not uncommon internationally, citing examples such as former Chilean leader Augusto Pinochet and Julian Assange.
According to him, authorities are hopeful the matter can be resolved for the MP to return to Ghana safely.
He appealed to the MP’s family, colleagues in Parliament and the public to remain calm while diplomatic and legal processes continue.
By: Jacob Aggrey
Ghana Water Ltd has announced temporary water supply interruptions in several parts of western Accra following technical challenges at the Weija Water Treatment Plant.
In a press release issued on May 13, the company explained that the challenges had affected water production and distribution in some communities.
According to the management of the company, residents in areas including Dansoman, Mamprobi, Mataheko, Laterbiokorshie, Korle Bu, La Paz, MacCarthy Hill, Gbawe, Mallam, Tesano, Darkuman, North Kaneshie, Dome, Achimota, Anyaa and Ablekuma may experience low water pressure and erratic water supply.
Management noted that engineers and technical teams were working to fix the problem and restore normal water supply as soon as possible.
The company advised consumers to store water whenever there is flow in their communities in order to manage the temporary disruption.
It urged essential service providers to contact their Assembly Members or the Ghana Water Ltd Call Centre for assistance.
The company apologized to customers affected by the situation and appealed for calm and cooperation while efforts continue to resolve the challenge.
By: Jacob Aggrey
