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Ghana's Economy Is Doing Well And Better ‐ Akufo-Addo Tells The world

Delivering a keynote address at the ongoing Africa Flagship Programme session of the 45th Annual Legislative Conference of the National Black Caucus of State Legislators, that is being held in Atlanta, Georgia, on Wednesday, 1st December 2021, the President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo had stated that it is a great time to invest in Ghana, for the opportunities are bright, and that its economy is kept right on growing despite the devastating impacts of the Covid-19.

Ghana, according to President Nana Akufo-Addo, was among the first countries anywhere in the world, to put together a medium-term response strategy to address the impact of COVID-19 on the economy, and to outline an economic recovery, revitalisation, and transformation plan to build back better and stronger. 

According to him, they have taken preemptive measures to identify the key sectors of the economy that needs boosting to promote trade and investment in the country. He also touted their seven percent GDP growth rate feat chalked from 2017 to 2020 as one of the fastest in the world.

"We have identified the relevant sectors of the economy requiring the needed investment that will help accelerate the rebound and growth of the Ghanaian economy, as was witnessed in the immediate years before the pandemic struck, which saw, between 2017 and 2020, our average annual GDP growth rate of seven percent (7%) as one of the fastest in the world. We call the recovery package the Ghana CARES ‘Obaatampa’ Programme," he said. 

President Akufo-Addo told the gathering that the GH¢100 billion Programme, aimed at stabilising and revitalising the Ghanaian economy, has two phases, the Stabilisation Phase, which was implemented between July to December 2020; and the Revitalisation and Transformation Stage which is currently under implementation, and will end in 2023. 

"We are focussing our energies on supporting commercial farming, and attracting educated youths into agriculture, building Ghana’s light manufacturing sector, fast-tracking efforts at digitisation, developing Ghana’s housing and construction industry, establishing Ghana as a Regional Hub, and strengthening the enablers of growth of our economy," he said. 

The President continued, "However, the most attractive and the greatest selling point of Ghana is and has always been her people, the Ghanaian people. The welcome that you find in Ghana, with all due respect to you at this gathering, is unique, and like none anywhere else."

With President Akufo-Addo reassuring the investor community that Ghana remains a safe country, he reiterated his position that "Ghana is the safest country in West Africa. Our police and security agencies work hard to keep Ghana an open and happy place, where we are not embarrassed to see ourselves as each other’s keeper."

He, thus, to the investor community that they can choose to invest in Ghana through the Ghana Investment Promotion Centre or set up as a Free Zones enterprise, stressing that his government has instituted a number of fiscal incentives for the investor depending on the nature of the activity or the location of the investment. 

Touting Ghana’s democratic credentials, which has seen the country conducting 8 presidential elections in the twenty-eight (28) year period of the 4th Republic, the President indicated that investors are optimistic about the Ghanaian economy. 

"We have done the heavy lifting required to transition our economy into a growth economy, and are now establishing sustainability and irreversibility. We are spearheading regional integration and cooperation in industrialising Africa, and currently hosting the Secretariat of the African Continental Free Trade Area (AfCFTA), which comprises fifty-four (54) states, with a combined GDP of three trillion United States dollars (US$3 trillion)," he said. 

The programme is still ongoing in Atlanta, Georgia and would be climaxed on the morrow.

Content created and supplied by: Discoverers_Gh (via Opera News )

Africa Flagship Atlanta Georgia Nana Addo Dankwa Akufo-Addo Nana Akufo-Addo


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