In a bid to strengthen the Ghanaian economy, President Akufo-Addo has encouraged foreign investors and the private business sector to keep investing in the country.
Speaking at the commissioning of GB Foods state-of-the-art tomato canning line in Tema on Tuesday, March 14, 2023, President Akufo-Addo indicated that his government and NPP as a political party is a supporter of the private business sector hence why he is bent on creating an enabling environment for the sector to expand their investments in Ghana to create more jobs for the citizenry.
He said his administration since taking over the mantle in 2016 has been able to positioned the Ghanaian economy to be one of the fastest economy in Africa between 2017 and 2020, making it one of the most business-friendly economy in the continent.
“The government I lead is a natural cheerleader for the private sector, and it is my sincere wish that GB Foods, and, indeed, the Ghanaian private sector will continue to invest further in Ghana. Cascading investments in our economy is the most effective way to expand and strengthen it in order to create the many jobs our young people so ardently want. It will happen, and soon.”
Whilst acknowledging the limited ability of government to create jobs on its own, President Akufo-Addo noted, “it is for this reason that, when we assumed office in 2017, my government put in place measures to reduce the cost of doing business and improve the business environment.”
He explained that, Ghana had been “modestly successful in making the Ghanaian economy not only one of the most business-friendly economies in Africa, but also one of the fastest growing economies in the world between 2017 and 2020, averaging 7% GDP annual rates of growth, up from the 3.4% rate we inherited in 2016, the lowest in two (2) decades.”
President Akufo-Addo continued that, “in spite of upheavals on the global economic terrain, our goal remains constant – and that is to unleash the innovative and entrepreneurial instincts of the Ghanaian private sector to drive rapid growth and job creation. I am confident that we will realise this important goal.”