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Business News of Sunday, 26 October 2014

Source: citifmonline.com

Change attitude towards local products – Minister to Ghanaians

Ghanaians must change their attitudes towards buying and consumption of local products to help create more jobs and strengthen the Cedi, Ricketts Hagan, a deputy Minister of Trade and Industry has challenged.

Mr. Hagan made the remarks at this year’s Ghana Made Awards held at the State Banquet Hall.

The event organised by the Entrepreneurship Foundation of Ghana was to honour and recognise local companies for their contribution to the growth of the economy.

In his address, Mr Hagan said the consumption of made in Ghana products was essential to transforming the Ghanaian economy.

“Indeed patronizing local goods will create jobs to the growing youth, result in industrial expansion and enable local industries to compete with their counterparts in the advanced nations,” he said.

He criticized Ghanaians for what he described as “a strong taste for foreign products” adding that “to the extent that we regard anything that is produced in another country as of high quality and high value than the ones that are locally manufactured.”

In an attempt to support made in Ghana goods, Mr Hagan said the Ministry of Trade and Industry had developed a web-based products gallery to enable Ghanaian manufacturers exhibit their products.

“To date, over 5,000 products from 700 manufacturers and 86 service providers are currently exhibited on the portal reaching local and international markets,” he revealed.

For her part, a deputy Minister of Finance and Economic Planning, Mrs Mona Quartey said marketing failures in Ghana was as a result of ignorance and underestimation of consumer perception and behaviour by most entrepreneurs.

She stated that government was working towards improving existing marketing infrastructure and strengthening stakeholders along the value-chain in a bid to promote locally made products.

“Specifically the Ministry of Finance will facilitate the value chain linkage of agro-business firms with smallholder farmers, design and launch a market promotion programme for made in Ghana commodities and also facilitate the enforcement of anti-dumping regulations,” she said.

The Frytol Vegetable Cooking Oil, a product of Wilmar Africa Limited was adjudged the Best Made in Ghana product for the year 2013/2014 at this year’s Ghana Made awards held last night at the State Banquet Hall in Accra.

Receiving the award, the Chief Financial Officer of Wilmar Africa Limited Kossonou Bini expressed his appreciation to Ghanaians for patronizing the Frytol Vegetable Cookng Oil and gave the assurance that the company would continue to provide quality products to Ghanaians.

Twenty-five other companies were also awarded for consistently producing quality products and they include Prefos Limited, Electrical Product of the Year for their product the “Prefos Street Light.”