Africa: Ghana voted the country to lead continent’s industrial boom by investors
Ghana is viewed by global Investors as the African country to lead the continent’s industrial boom.
This view held by global investors, according to the Senior Minister, Yaw Osarfo Marfo, was made evident in a voting process among global Investors at the recently held Global Business Forum Africa 2021 by the Dubai Chamber of Commerce and Industry at the UAE Expo 2020.
Delivering the keynote address at the 10th edition of the Business and Financial Times Ghana Economic Forum (GEF) on Wednesday, October 20, the Senior Minister noted Ghana was selected from among its African peers being Senegal and Ethiopia.
“Recently at the Dubai Expo 2020, in a session focusing on industrialisation on the African continent, three African countries were selected and voted for, and the voting was to know which of the country will lead the continent’s industrial boom.
“And there were a lot of investors and policymakers from Singapore, China, US and others. The three countries that were selected include Senegal, Ethiopia and Ghana.
“Now at the end of the voting process, Ghana was selected as the country well-positioned to lead the continent’s industrial boom in the years ahead. Ghana won with 59% of votes cast, Ethiopia got 28% and Senegal 13%.
Read: GUTA President reveals new terms reached for Nigerian participation in retail trade
“And this shows that people [investors] have so much confidence in us and feel Ghana is the place to go on the continent,” he stated.
Indeed, the government has disclosed plans and already implemented policies such as the 1D1F to speed the country’s industrialisation agenda.
Speaking on the theme Africa Energy Sector: Ensuring medium to long term sustainability of the West Africa sub-region, the Senior Minister noted the energy sector is the backbone of every emerging economy including Ghana and that the successful industrialisation of an emerging economy is dependant on a robust energy sector.
It is with this view in mind that the government, he notes, embarked on a five-year Energy Sector Recovery Programme (ESRP) plan to improve the financial health of the sector and mitigate the accumulation of debts that hinder the growth of the sector.
According to him, the ESRP looks at five key areas being security of supply, competitive tariffs, subsidies for consumers, strategic industrial growth and universal access to electricity and renewable energy.
