The Association of Ghana Industries (AGI) has sounded the alarm on the slow progress of Ghana’s industrialization efforts, calling for a comprehensive reevaluation of current strategies.
In a speech at the 2024 Ghana Industrial Summit and Exhibition, AGI President Dr. Humphrey Ayim-Darke highlighted the disparity between Ghana’s advancements and the rapid industrialization of countries like Malaysia.
He emphasized the need for a more focused approach to drive sustainable economic growth.
“Our industrialization journey has been sluggish,” Dr. Ayim-Darke stated. “We must reexamine our policies and strategies to ensure they align with our aspirations for economic development.”
He advocated for a concentrated focus on value chains, which he identified as key drivers of innovation, competitiveness, and sustainable industrial growth.
While acknowledging the potential of initiatives like the One District, One Factory program, Dr. Ayim-Darke also cautioned about the challenges posed by macroeconomic factors, such as the depreciating Cedi.
He stressed the importance of addressing these issues to create a favorable environment for businesses and accelerate Ghana’s industrialization drive.
