Minister for Trade and Industry, Alan Kwadwo Kyerematen has said that Ghana must consider developing pharmaceutical and plant medical products that can rake in foreign exchange and reduce the debt burden of the country. The Minister who was the special guest at the relaunch of COA Mixture, a herbal medicine for general wellbeing, asserted that pharmaceuticals and manufacturing are the ways to diversify the economy for robust growth.
Mr. Kyerematen explained that over the years Ghana has depended on two major commodities for its economic growth which has become unsustainable. He indicated that, there is a need to diversify the economy to include the pharmaceutical and Medicine manufacturing which is worth over 5 trillion in 2050.
He insisted that if Ghana can tap less than 1% of this projection by encouraging the production of pharmaceuticals including plant medicines, the country would have earned foreign exchange thereby reducing the country’s debt burden and stabilizing the cedi.
“If Ghana can focus on developing pharmaceutical products including plant medical products, the potential for export is very significant, even if we don’t make one percent of the (5trillion) but 0.001% it will help us reduce our debt burden and help us earn foreign exchange, which is the only way we can support our currency” he noted.
He also indicated that, the World Health Organization (WHO) estimates that about 80% of the developing world's population use traditional medicine, particularly herbal medicines for their health care needs and that in places such as Africa and Asia, herbs are even used as the first line of treatment for some diseases. He asserted that many pharmaceutical products currently in use are plant-derived, and most of these originate from the tropical regions of the world including Africa.
The minister applauded the efforts of the COA Research and Manufacturing Company in employing the highly skilled persons thereby reducing the unemployment burden of the country, and also producing plant medicine for the use of the country. He assured the company of his Ministry and government’s commitment to their endevour.
Founder and CEO of COA Research and Manufacturing Company, Prof. Samuel Ato Duncan, in his remark explained that COA Mixture was a well-researched plant medicine that had been scientifically developed and approved by the Food and Drugs Authority (FDA) as a medicine for the general wellbeing of all persons. He further espoused that the mixture is very powerful and that it preserves itself and have unique vito chemicals that supports the immune system for health living.
"It is not an HIV and AIDS drug. COA Mixture is for healthy living; it is a 100 per cent natural product from plants and without any artificial preservatives,” he emphasized.
Prof. Ato Duncan asserted that the COA Mixture which is manufactured for the general wellbeing of all persons should be taken whether sick or not to promote total health of the individual. He also indicated that COA Mixture is one of the best medicines the world has ever produced because of the marvelous testimonies across the world from its users.
The CEO further revealed that COA Research and Manufacturing Company is close to another research breakthrough in plant medicine that will make the country realize about $32 billion annually.
“When successful, Ghana stands to realize not less than 32billion dollars from this plant medicine, this will bring economic relieve to Ghana and also get treatment for some diseases the world is struggling to treat,” he noted.
Prof. Samuel Ato Duncan also donated an amount of GH¢100,000 to the Ghana Federation of Traditional Medicine Practitioners Association (GHAFTRAM) to assist members to register and certify their herbal products.
By Jeorge Wilson Kingson and Derick Botsyoe
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