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Thu, Dec

Micro, small-scale enterprises to dominate economic landscape – Akufo-Addo

Nana Akufo-Addo with small-scale entrepreneurs

The 2016 Presidential Candidate of the New Patriotic Party (PPP), Nana Addo Dankwa Akufo-Addo, has given an indication that a future NPP government will work to ensure that Ghana’s economic landscape is dominated by micro- and small-scale enterprises.

He said his government intended to follow the examples of advanced economies in the world by ensuring that Ghana’s economic landscape would be dominated by micro- and small scale enterprises.

According to Nana Akufo-Addo, “in the economies of the United States of America, the European Union, the United Kingdom, China, Japan, India, Korea, and South Africa, small- and medium-scale enterprises continue to dominate their economic landscapes”, leading to the creation of millions of jobs for the citizenry.

This was contained in a statement from the party. 

Nana Akufo-Addo said this in Tamale on Monday, when he addressed an extraordinary general meeting of the Association of Small Scale Industries (ASSI).

Citing the case of Germany, the world’s fourth largest economy, the NPP flag bearer explained that “virtually all German businesses are small to medium-sized industries, adding that “3.6 million small industries provide more than 60 per cent of all jobs in Germany’s mighty economy.” 

“That is a compelling example for us”, he said, and stressed that “we will follow this example by expanding opportunities for small businesses in agro-processing, agribusiness, light manufacturing and industrial activity.”

Fully aware of the importance of the small-scale business sector towards the growth of Ghana’s economy,  Nana Akufo-Addo said the NPP remained committed to making a decisive effort to industrialise the country. 

“You have heard me speak about our policy of ‘1-District-1-Factory’. It is an integral part of our policy of rapid industrial development. We have identified over 300 projects across the 216 districts of the country to bring this policy into fruition. We are going to do it, and, in so doing, we will give a major boost to the activities of micro- and small- scale enterprises in the country,”he  said. 

He continued that “the 1-District-1-Factory policy will go hand-in-hand with our resolve to stimulate private sector investment into a number of strategic, anchor industries – iron and steel, cement, bauxite and aluminium, petrochemical industry, vehicle assembly and the manufacture of machine parts and equipment.”

That, he stressed, would also open up huge opportunities for small-scale businesses, and added that “it is this process of rapid industrialisation that would help create the hundreds of thousands of jobs needed by the masses of unemployed Ghanaian youth.”

The NPP flag bearer was accompanied by his running mate, Alhaji Dr Mahamudu Bawumia; the Northern Regional Chairman of the NPP, Daniel Bugri Naabu, and Northern regional NPP executive;  Campaign Sector Committee Chairperson on Trade and Industry, Mr Alan Kyerematen; National Women’s Organiser, Otiko Afisa Djaba; Deputy National Women’s Organiser, Diana Karikari; Member of Parliament for Ablekuma Central, and Mr Ursula Owusu Ekuful.