• About
  • Advertise
  • Privacy Policy
  • Contact
Saturday, July 12, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Local businesses are well positioned to benefit from the African Continental Free Trade Area

July 3, 2020
thevaultzby thevaultz
in Vaultz Business
0
President of the AGI, Dr Yaw Adu-Gyamfi

President of the AGI, Dr Yaw Adu-Gyamfi

The Association of Ghana Industries (AGI) has said that companies in the country are well positioned to benefit from the African Continental Free Trade Area (AfCFTA).

The implementation of the much anticipated Agreement which was scheduled for July 1 2020, has been moved to 2021.

President of the AGI, Dr Yaw Adu-Gyamfi has indicated that because of the investment and policy direction of government, local industries are poised and well supported to meet international global standards.

RelatedPosts

Ghana Launches Investment Mapping Project to Boost District-Level Economic Growth

24-Hour Economy Policy Alone Not Enough – GNCCI Warns

Business and Investor Confidence Rebounding in Ghana – AGI

“If you look at the ten prone industrial policies that have come from the Ministry of Trade and Industry, {it} is basically on how to prepare us for the continental free trade agreement. So now, when this continental free trade agreement kicks in, you are going to see a lot of local companies that are basically going to export their products from here to other countries, be it pharmaceuticals, garments a lot of local companies are really going to do export.”

 Dr Adu-Gyamfi added that, the working relations between companies and the export development companies will help boost their chances of accessing foreign markets and enhance the contribution of the manufacturing sector to Ghana’s Gross Domestic Product (GDP).

“And with our working in correlation with the export development companies, we are going to do a lot of work. So this government is really being business minded in helping us shape the way industry is. And you will see that, a year to come the GDP, in terms of {the} manufacturing sector are going to grow compared to the past years.”  

There have been some concerns about the effects of the AfCFTA on Ghanaian industries, with some local businesses fearing being wiped out from the local market.

However, the Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr Yofi Grant has also assured local businesses that the implementation of the AfCFTA in Ghana will rather open vast opportunities for them to explore in the international market.

56154717

Mr. Grant has also indicated elsewhere that, the quality of goods and services in the country will shoot up with the opening up of the Ghanaian market for other African countries under the AfCFTA.

This, he believes will put Ghanaian businesses at an advantage position since the quality in production and services in the country are ahead of many countries on the continent.

For some time now, there have been disagreements about the nature of trade laws in the country, which many believe will hinder trade between Ghana and other countries. Mr Grant has also pointed out that Ghana is in the process of putting these laws in order.

“We are looking at the review of our laws to have harmony between all the multilateral and bilateral laws in Ghana such that there is no conflict and it is easier for business to freely invest in Ghana”, he said.

Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr Yofi Gran
Wamkele Mene, was recently appointed Secretary General, African Continental Free Trade Area (AfCFTA) Secretariat. Because of the effects of COVID-19, free trading for countries that have ratified the agreement cannot begin on 1st july 2020, as was originally scheduled.

But, with all the anticipated benefits that the AfCFTA will bring to the continent when it is implemented, this all important Agreement that will harmonise trade among all the countries on the continent has been dragging for a while now.

Tags: AfCFTAAssociation of Ghana IndustriesDr Yaw Adu-GyamfiGhanaian industries
Please login to join discussion
Previous Post

GHACCO Urges Gov’t to Execute the Bioenergy Policy

Next Post

Google’s plan to buy Fitness App for $2.1 billion raises dust.

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

IMANI Flags Transparency Gaps in $360 Million World Bank Loan, Loan, Public
General News

IMANI Flags Transparency Gaps in $360 Million World Bank Loan

July 12, 2025
Ewurabena Aubynn
General News

NDC’s Ewurabena Aubynn Secures Historic Victory in Ablekuma North Rerun

July 11, 2025
Minority Decries Violence, Police Inaction in Ablekuma North Rerun, Polling, Violence
General News

Minority Decries Violence, Police Inaction in Ablekuma North Rerun

July 11, 2025
BoG’s Ban on 10 Money Transfer Organisations Sparks Transparency Debate
Banking

BoG Stress Test Uncovers Banks’ Credit Vulnerability Amid Strong Liquidity Defences

July 11, 2025
AU Urges Human Dignity In Corruption Fight
Africa

AU Urges Human Dignity In Corruption Fight

July 11, 2025
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Asia

Nearly 800 Killed While Trying To Receive Food Aid In Gaza

July 11, 2025
IMANI Flags Transparency Gaps in $360 Million World Bank Loan, Loan, Public
General News

IMANI Flags Transparency Gaps in $360 Million World Bank Loan

by Silas Kafui AssemJuly 12, 2025
Ewurabena Aubynn
General News

NDC’s Ewurabena Aubynn Secures Historic Victory in Ablekuma North Rerun

by Evans Junior OwuJuly 11, 2025
Minority Decries Violence, Police Inaction in Ablekuma North Rerun, Polling, Violence
General News

Minority Decries Violence, Police Inaction in Ablekuma North Rerun

by Silas Kafui AssemJuly 11, 2025
BoG’s Ban on 10 Money Transfer Organisations Sparks Transparency Debate
Banking

BoG Stress Test Uncovers Banks’ Credit Vulnerability Amid Strong Liquidity Defences

by Stephen M.CJuly 11, 2025
AU Urges Human Dignity In Corruption Fight
Africa

AU Urges Human Dignity In Corruption Fight

by Lawrence AnkutseJuly 11, 2025
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Asia

Nearly 800 Killed While Trying To Receive Food Aid In Gaza

by Comfort AmpomaaJuly 11, 2025
IMANI Flags Transparency Gaps in $360 Million World Bank Loan, Loan, Public
Ewurabena Aubynn
Minority Decries Violence, Police Inaction in Ablekuma North Rerun, Polling, Violence
BoG’s Ban on 10 Money Transfer Organisations Sparks Transparency Debate
AU Urges Human Dignity In Corruption Fight
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
[/vc_row_inner]

Recent News

  • IMANI Flags Transparency Gaps in $360 Million World Bank Loan
  • NDC’s Ewurabena Aubynn Secures Historic Victory in Ablekuma North Rerun
  • Minority Decries Violence, Police Inaction in Ablekuma North Rerun
  • BoG Stress Test Uncovers Banks’ Credit Vulnerability Amid Strong Liquidity Defences
  • AU Urges Human Dignity In Corruption Fight
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.