As part of efforts to expedite action on the implementation of the 2024 campaign promises of President- Elect, John Dramani Mahama when he assmes office on January 7, 2025, the Business Development Committee of the National Democratic Congress (NDC) has met with the Association of Ghana Industries (AGI) and the Ghana Chamber of Commerce and Industry (GNCCI).
The meeting discussed ways to implement the NDC’s promise to shape the future landscape of Ghana’s industrial and trading sectors.
Chairman of the NDC Business Development Committee, Ekwow Spio-Garbrah, explained the move with the two main commercial and industrial arbiters of Ghana’s productive sectors is to prepare the groundwork for the effective implementation of the party’s policies, especially the 24-hour Economy which promises to be a game changer.
Notable among the sujects discussed is the pervasive issue of the exchange rate and the volatility of the local currency against major foreign currencies.
AGI and GNCCI, who represents a substantial fraction of Ghana’s industrial backbone, urged the need for policies that stabilise and potentially reduce exchange rate pressures, thereby enhancing the competitiveness of local industries on the global stage.
The meeting also discussed Tax reforms and reforms in the power sector, particularly issues concerning Independent Power Producers (IPPs) in the country.
Also on the table for discussion were possible innovations in Ghana’s remittance policy that could help mobilise between $3 billion and $5 billion a year for Ghana’s development to be able to leverage remittances for industrial investment.
The review of aspects of the Ghana Revenue Authority (GRA) Act 891 was also discussed.
Mr Spio-Garbrah, echoing the sentiment of all gathered, gave an assurance that the incoming government, under John Dramani Mahama, was committed to not resting on its laurels until the industrial sector’s course is firmly and favourably established.
“This timely meeting heralds the beginning of what is hoped to be a series of engagements towards concerted efforts to weave together policy and practice, ensuring that Ghana’s industries survive and thrive in an increasingly competitive and digitised global economy. The fact that the NDC can engage the leadership of Ghana’s business sectors so soon after winning the 2024 elections is a manifestation of President Mahama’s ability to govern Ghana with lightning speed even before he gets sworn in”, Mr Spio-Garbrah said.
By: Christian Kpesese
