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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.
About 200 company secretaries, governance professionals and institutional leaders will gather in Accra for the ‘Company Secretaries Summit’ next month.
It is aimed at strengthening governance practices and enhance boardroom effectiveness across the country.
The summit, which is scheduled for July 16 at the Labadi Beach Hotel seeks to equip governance professionals with the knowledge, skills, and networks required to navigate the increasingly complex demands of modern corporate leadership.
It will feature keynote presentations, panel discussions, and interactive sessions focusing on emerging governance trends, boardroom dynamics, regulatory compliance, digital transformation, and stakeholder expectations.
According to the convener, Catherine Engmann, the summit comes at a critical time when governance professionals are under growing pressure to support sound decision-making, strengthen governance culture, and respond effectively to changing institutional and regulatory environments.
“This gathering is not just another conference. It is a platform for governance leaders who are already operating at the highest level and intend to stay there,” she said.
She noted that the programme was designed to provide participants with practical tools, fresh insights, and valuable professional connections.
According to Ms Engmann, a major highlight of the event will be the awards ceremony, which will recognise individuals and organisations that have demonstrated excellence in governance practice and made significant contributions to improving board effectiveness and corporate accountability.
She mentioned that the summit will also offer participants an opportunity to benchmark their practices against industry standards, exchange ideas with peers, and explore innovative approaches to governance challenges.
Beyond the formal sessions, the event is expected to foster networking and collaboration among governance professionals, helping to strengthen governance practices across Ghana’s corporate and institutional landscape.
Speaking about the vision behind the initiative, Ms Engmann, said the summit was inspired by the need to create a dedicated platform that recognises the critical role played by company secretaries and governance professionals.
According to her, the Company Secretaries’ Summit and Awards reflects her conviction that Ghana’s governance professionals deserve an annual platform where they can engage in meaningful discussions, build strategic relationships, and receive recognition for their contributions to effective governance.
Registration for the summit, she said was currently open, with interested professionals encouraged to secure their participation ahead of the event.
By Esinam Jemima Kuatsinu
-1 cup dried soya beans
-4–5 cups for water (for blending)
-Extra water for soaking
-Sugar, honey or dates (optional, for sweetness)
-Vanilla extract (optional)
Preparation
-Pick through the beans to remove stones or damaged seeds and rinse thoroughly
-Place them in a large bowl and cover with plenty of water. Soak for at least eight hours or overnight to soften it to blend easier
– After soaking, rub the beans with your hands as the skin begins to remove
– Removing the skins helps reduce the ‘beany’ taste and improves texture
– Put the soaked beans into a blender with 4–5 cups of clean water
-Blend until smooth and milky. (You may need to do this in batches depending on your blender size).
– Using a clean muslin cloth or fine sieve, strain the blended mixture into a pot. (Squeeze well to extract as much liquid as possible).
-The leftover pulp is called okara. Don’t throw it away — it can be used in baking, porridge, or even added to stews.
– Place the strained milk on medium heat and make it boil. Stir continuously to prevent burning or overflowing.
– Allow it to boil for at least 20–25 minutes. Proper boiling removes the raw taste and neutralises natural compounds that can upset the stomach.
-Once boiled a little sugar or honey. Pulse.gh
Health benefits of Soya beans
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