You are here: HomeBusiness2015 10 12Article 387206

Business News of Monday, 12 October 2015

Source: Ghanaian Times

‘Ghana has potential to climb industrial ladder’

Ghana has a high potential to move up the industrial ladder to contribute to national, regional and continental development if indigenous companies invest in the right technology, Dr. Ekwow Spio-Garbrah, Minister of Trade and Industry has said.

He said the example of Intelligent Card Production Systems (ICPS), a subsidiary of Margins ID Group, a Ghanaian indigenous company was an indication of the country’s potential to be a major industrial player on the continent.

Mr. Spio-Garbrah was speaking during a tour of ICPS’s $3.5 million state of the art card and security printing equipment facility in Accra.

The visit was to afford the minister the opportunity to have firsthand experience of the company’s operations.

“What I have seen here is enough indication that with the right investment and proper management Ghanaian companies can make it to the top,” he said.

He said the printing facility puts ICPS in a pole position to be the leader in security printing and the manufacture of secure documents and cards on the African continent.

The minister said to bridge the gap between industry and academia, the government was working on mentorship programmes to allow individuals with rich experiences in industry to guide students, teachers and civil servants.

“I urge the management of ICPS to help bridge the gap between industry and academia by running mentorship and attachment programmes for students to have the practical experience,” he said.

On the made in Ghana campaign, Dr. Spio-Garbrah said the ministry was developing policies which would soon be approved by cabinet to ensure that the campaign succeeded.

He said key to the success of the campaign would be a deliberate government policy and conscious decision to procure only goods made in Ghana, where they exist, before looking outside the country.

This, he said, would provide companies high returns on their investment and boost growth as well.

Moses Baiden, Chairman of Margins Group, applauded the minister for the visit and urged the government to introduce and implement policies that would be in sync with the demands of the private sector to be able to accelerate development.

He said the private sector could not do it alone and there was the urgent need for support from the public sector, if efforts for job creation and generation of the necessary foreign exchange were to be achieved.

“We urge our government to ensure that policy frameworks within which we work benefit Ghanaian companies to create an enabling environment for private sector expansion and to enforce our existing laws which prioritise local content margin of preference, PPPs and local productivity,” the chairman said.

He said the company’s focus was to develop its human resource as that was important to leapfrog the company into meeting its goals of becoming a big global player.

Mr. James Asare Adjei, president of the Association of Ghana Industries said local businesses must be supported to grow.