The right climate is here -- President declares at Ghana Club 100 event
President John Dramani Mahama has stated that the right climate has been created to spur real economic transformation of the country.
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"The environment is getting better and better and the right climate for take-off is here. This is why, in my second and final term starting January 2017, God willing, I am determined to implement an economic transformation and livelihood empowerment programme (ETLEP )," he said.
At the 15th Ghana Club 100 awards in Accra last Friday, the President said the main focus of the ETLEP was to create jobs for the people, with private sector participation.
Organised by the Ghana Investment Promotion Centre (GIPC ), the awards saw Newmont Golden Ridge Limited being adjudged the best company.
Goil, Golden Star Resources, Total Petroleum Ghana and Ecobank Ghana placed second, third, fourth and fifth, respectively.
The theme for the event was: "Manufacturing: Steering Ghana’s development."
Ghana Club 100
The Ghana Club 100 is a yearly official list of the top 100 companies in Ghana.
The compilation was first done in 1998 by the GIPC, with the aim of recognising the top 100 companies and encouraging competition and improvement of company products and services.
The list is based on the responses of a survey conducted annually by the GIPC. Companies can voluntarily participate in the survey by submitting information, including their financial statements.
Due to the voluntary nature of the survey, in some years the number of companies listed has been fewer than 100.
Most of the companies listed on the Ghana Stock Exchange (GSE) are included in the Ghana Club 100.
Giving details of the ETLEP, the President said "the programme will provide more jobs for the youth and Ghanaians as a whole, improve disposable income and enhance their purchasing power".
He further explained that the programme would be anchored on value addition and diversification on the back of sustainable power supply.
"The ETLEP will strengthen existing industries and pay particular attention to the entire agricultural value chain," he said.
President Mahama said as the economy became more resilient, more employment options would be created.
Innovation
He urged businesses to be innovative in order to meet the demands of the time.
Touching on the theme, the President said the manufacturing sector played a key role in socio-economic development, for which reason the government would continue to support private companies that were into manufacturing.
He expressed delight at the growing number of entrepreneurs in the country.
Welcome address
The Chief Executive Officer of the GIPC, Mrs Mawuena Trebarh, said the GIPC placed premium on the manufacturing sector, as it was a key driver of economic development.
A buoyant manufacturing sector, she said, meant increased exports.
She said the GIPC Act, Act 865 of 2013, made provision for special incentives for manufacturing entities.
She said the fact that small and medium enterprises (SMEs) were not concentrated in one area of the country but spread across the regions, producing various products for the West African market, was a positive step.
Touching on the awards, Mrs Trebarh said companies making it into the Ghana Club 100 were to serve as role models for the private sector and provide a forum for corporate Ghana to interact with the government at a high level.