Deputy Minister for Trade and Industry, Robert Ahomka Lindsay has directed businesses in the Bono East Region to take advantage of AfCFTA to widen their market to position them aptly to export to the African continent.
Speaking at a regional conference held in Techiman under the theme: ‘Empowering Ghanaian businesses to harness the benefit of the AfCFTA’, under the framework of the National Export Development Strategy, Mr. Ahomka Lindsay encouraged local enterprises to take advantage of the pact and expand their businesses.
“Out of the fifty five, fifty four have signed, thirty countries have ratified it like Ghana which basically means that from the 1st of January 2021, thirty countries are going to open their borders for us to start doing business. We want to make sure Ghana, Techiman, Bono East, you are well represented, appropriately represented to hold the Ghana flag to show people that you are also part and you are also going to take advantage”.
The Deputy Trade Minister further indicated that Ghanaian businesses should also work towards winning the African CFTA Olympics when the race starts in January 2021.
“If you don’t make those business decision, there is nothing for us to sell and there is therefore no opportunity for Ghana to hold its flag when it comes to the Africa CFTA Olympics. The race is about to start on 1st January 2021; we want to make sure when the first race is done- the 100 meters, the 200 meters (men and women)… Ghana raises its flag in each one of those.
“When they start talking about the largest exporter of garments, Ghana should open the flag… Techiman should be there saying, yes there is a company from here”.
Some participants present at the forum, expressed their readiness to participate in the AfCFTA to boost their respective businesses, whereas others bemoaned the crippling challenges they are faced with as businesses.
“I think government has very good intentions but… most people are not aware. So, my participation in this program has given me a lot of insight about the opportunities.
“Some of the things hindering our takeoff is the finance. We are unable to produce more because we have no support and [when] we go to the banks for loans, the interest rates are high, so run at a loss and in the end, [and] we are forced to close down. So, we call on government to come to our aid”.
Meanwhile, the Deputy Chief Executive Officer (CEO) of GEPA, Mr. Samuel Dentu, has disclosed that, the African Continental Free Trade Area (AfCFTA) would begin full implementation of the AfCFTA in January next year.
He made this revelation during a Regional Conference on the implementation of the AfCFTA and the National Export Development Strategy (NEDS) in Takoradi.
The conference formed part of the series of Regional conferences aimed at bringing together relevant stakeholders from the private and public sectors to discuss government’s export development interventions geared towards empowering Ghanaian businesses to harness the benefits AfCFTA.
Mr. Dentu said the strategy provided clear guidelines on exports of products produced within the country, adding that Ghana was on the path to becoming an export-driven economy with one district, one export product.
He said the strategy sought to improve the supply base of Ghana’s exports to value-added products with consistency in its supply to sustain the business, improve the regulatory framework for export and build the capacity of the private sector.
It is envisaged that over 10 years, Non-Traditional Exports (NTEs) would grow from $2.8 billion in 2020 to $25.3 billion in 2029 accompanied by a deep structural transformation that positions Ghana as a competitive export-led industrialized economy if NEDS is fully funded and implemented.
