President Akufo-Addo tutors Africa Leaders at MAN Annual Lecture & Presidential Luncheon

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Your commitments to corporate social responsibility policies to drive community development are all critical areas that businesses can adopt to deepen industrialization in Africa.

His Excellency Nana Addo Dankwa Akufo-Addo, The President of the Republic of Ghana was represented by Honourable Yaw Osafo-Maafo, Senior Minister of the Republic of Ghana who delivered the guest lecture speech on the occasion of the manufacturers’ annual lecture & presidential luncheon of the 46th annual meeting of the Manufacturing Association of Nigeria (MAN) under the theme: “Mainstreaming Policies To Catalyze Industrial Renaissance” held in Lagos, Federal Republic of Nigeria.

 

“Your Excellency, there can be no appropriate theme to celebrate this 46th Annual Meeting of MAN than the one guiding discussions today – “Mainstreaming Policies To Catalyze Industrial Renaissance” as our continent searches for effective strategies.

President Akufo-Addo said businesses must invest in environmental sustainability to win the confidence of our people so as to negotiate better on policies that drive their own long term sustainability.

“There seems to be the niche that businesses substantially aim at profit making to the detriment of other equally important stakeholder objectives which enhances corporate values.

“Policies on labour and their working environment, health and safety, ethical investment and sourcing of resources must all be encompassed within the framework of industrial development and sustainability.

Ghana and Industrialization:

President Akufo-Addo is committed to initiating industrial policies and mainstream them in his governance systems from the local level right up to the centre. We believe that we have eluded ourselves far too long as a country and a continent with basic policy industrial development packages to drive job creation and wealth maximization.

 

He pointed out that “it is on this note that we have instituted a conscious effort to pursue industrialization through value addition policies and programmes to leverage our economy for a holistic industrialization of Ghana. Our private sector driven “ONE DISTRICT, ONE FACTORY (1D1F) Programme” which seeks to take the bull by the horn in ensuring that industrial renaissance should be decentralized into the communities through effective public-private sector partnership is the new game changer in our industrial development. This way, we will reverse the rural-urban drift and migration of our able and energetic skilled labour to foreign countries with their attendant problems, added he.

 

“Governments in Africa must use the procurement muscle of the state to support industrialization on their respective countries by His Excellency Nana Addo Dankwa Akufo-Addo, the President of the Republic of Ghana.”

 

As a result, he said, the government of Ghana as a way of implementing its industrialization agenda has set aside some funds to assist struggling but viable industries to enable them overcome their short-term challenges. In addition, government has also been able to convince some of the local banks to set aside over Two Billion ($2 billion dollars) dollars to assist in the establishment of the 1D1F Policy. Government is only playing an effective facilitating role to ensure successful implementation of the programme.

 

He proudly said “We will build a Ghana that has the capacity to produce its basic needs and add value for exports. It is in line with this policy philosophy that we are developing a comprehensive national policy on Integrated Bauxite and Aluminium Development to develop the Ghanaian economy. We are not in a rush to sell our bauxite in its natural form. We deserve to have the highest value of every tonnage of mineral we sell.

 

“And this can only be done if there is a functional, responsible and effective institutional policy framework to achieve that. A bill is put before Parliament on this integrated approach to process our bauxite such no bauxite will leave the shores of Ghana without any value addition. This is the way to strengthen industrialization for the benefit of our people.

 

“This way, we can create the champions of entrepreneurs and business giants who can stand toe to toe with the foreign businesses. We have many examples of our own to celebrate – the Dangotes, etc. What we must never stop to do is to effectively ensure that both the private and public sectors continuously engage in productive dialogues and consultations to define what is good for our industrial sustainability and I believe thus meeting will deepen that process.

 

The Caption Photo: His Excellency Nana Addo Dankwa Akufo-Addo, The President of the Republic of Ghana

 

 

 


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