AGI calls for improved macroeconomic indicators to sustain industry sector growth
23rd October 2024
The Association of Ghana Industries (AGI) is making a strong case for an improvement in Ghana's macroeconomic indicators.
Chief Executive Seth Twum Akwaboah says this could aid in sustaining the industry sector growth of 8.2 percent recorded in the second quarter of 2024.
Speaking to Joy Business at the Inclusive Business and Green Business Forum, he called for a conducive business environment for small businesses to thrive.
He expressed concern over underutilization of local production capacities, urging stronger enforcement of trade policies to create a level playing field for domestic manufacturers.
“So many factors contribute to this and the key thing is the macroeconomic indicators. We have interest rate, inflation amongst others. All we need is stability and when we get that, we can ensure sustainability. We can only push for a good business environment to keep these businesses running,” he stressed.
He emphasized the need for more robust measures to promote local production, which is crucial for job creation and economic growth.
“We have adequate installed capacity to produce several products locally, and in many cases we even have excess capacity. Yet we continue to import these products, which undermine our local industries”.
“Our concern as AGI is how to address this situation, because producing locally allows us to expand our economy and create jobs,” he added.
The first Ghana Inclusive Business and Inclusive Green Business Forum was aimed at supporting green businesses across the country.