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Opinions of Friday, 30 April 2021

Columnist: Frederick Kwaku Duah and Terry Afram-Kumi

Alan Kyerematen’s industrialization drive and its impact on Ghana’s economic growth

Trade and Industry Minister, Alan Kyerematen Trade and Industry Minister, Alan Kyerematen

Leadership is all about cause and effects.

John C. Maxwell, the famous leadership guru said that “Everything rises and falls on leadership”.

In Ghana, there’s a great industrial move happening, that will significantly change the structure of our economy and lead to a massive boom for Ghana’s economy.

This giant industrial move is been championed by an industrial titan of our time.

Alan Kyerematen, the Trades and Industry Minister is the cause of such a great industrial move that is leading to a more efficient utilization of our resources and economies of scale.

For this reason, devoting time, sacrificing resources, putting in the energy and going all out to ensure that Hon. Alan John Kwadwo Kyerematen becomes the next Flagbearer of the NPP, in order to lead it to victory come 2024, is a cause that is worth pursuing.

Industrialization has made Germany, the biggest economy in Europe and Ghana is gradually becoming the industrial hub of Africa through the vision of the industry titan Alan Kyerematen.

Most of the leading car manufacturers are now queuing to establish their assembly plants in Ghana and this is as a direct result of the practical policies and programs championed by Alan Kyerematen.

Ghana is projected to be the assembly and distribution launchpad to the African market.

AfCFTA, with its secretariat in Accra, is a massive game-changer and a great platform to realize Ghana’s ambition of assembling and producing cars.

With AfCFTA headquartered in Ghana stands to become the centre of all trade-related issues in Africa.

Now, better than any time in the history of our country, Ghanaian owned business stand a golden opportunity to take advantage of Alan’s practical policies to expand, increase and export to other African countries.

This will earn Ghana the needed foreign exchange reserves to stabilize and strengthen our cedi. Ghana stands to hugely benefit from the consistent and substantial cash inflows into the national kitty.

Then, there’s 1D1F, we can also call it the Akufo Addo and Alan Kyerematen way of making sure we add value to our raw materials.

The best thing that has happened to China now is industrialization.

Industrialization has made China compete favourably with the giant economies on the global stage.

The World Bank projects that China’s GDP and economy will overtake the USA in the next few years.
This significant achievement wasn't attained by luck but through dint of hard work and fierce determination to actualize the policies that are discussed in Beijing by its leaders.

In Ghana, Alan Kyerematen has proved to be the master brain behind Ghana's industrial drive.

Ghana’s economy through the practical policies of Alan Kyerematen, (1D1F, Automobile Assembly Policies, Regional Industrial Parks, Steel Industry Policies etc), stands to become best-performing economy in Africa post-COVID 19.

In the next couple of years, when the NPP elects a Flagbearer for 2024, the subject of the Ghanaian economy under President Akufo Addo will be the key determinant for the NPP in breaking the “8”.
Whether the economy has been able to create jobs for the hundreds of thousands of SHS and Tertiary leavers is what will be the deciding factor.

On this wise, Alan Kyerematen represents the best candidate to take over from President Akufo Addo to secure the industrialization agenda and solidify the job creation progress.

The industrial process that has made China an economic and financial superpower is what is underway in Ghana.

Ghana will be the go-to place for global companies, jobs will be created, skills will be acquired and the industrial will be established.
Ghana will be a hub for a continental trade boom.

The following will be the direct benefits to the Ghanaian economy of the actualization of the wise policies of Alan Kyerematen.

(I) Stabilization and strengthening of the cedi. (Appreciation of the cedi)

(II) Trade Surplus; Increased exports over imports.

(III) Increase the country's foreign exchange reserves.

(IV) Creation of employment for the teaming youths.

(V) Reduction in excessive borrowing.

(VI) Moving Ghana permanently from a middle-income country to a higher income country.

These are practical benefits that are bearing positive fruits for the economy.
Alan is steadily moving Ghana forward not through theoretical means but through real and visible actions.

We conclude with the Chinese proverb, which says, “Be not afraid of growing slowly, be afraid only of standing still”.
Ghana’s economy is on the right path and the vision Alan has to grow the economy is a tried and tested path evidenced by China.

Alan’s path to growing the economy is one that is leading to consistent, sustainable and substantial gains for our economic growth and advancement.