AGI urges bold reforms to unlock industrial potential                                                           

By Elizabeth PUNSU, Kumasi

The Association of Ghana Industries (AGI) has called for urgent and deliberate reforms to create a truly conducive business environment that will make the country’s industries globally competitive.

According to AGI, the country’s industrial sector has shown sparks of promise over the past year – but industry leaders say the fire will only burn brighter if bold reforms are pushed through to create a more conducive business environment.

Delivering a speech at the Ashanti, Bono, Bono East and Ahafo Regions AGI Annual General Meeting and Job Fair in Kumasi, Regional Chair Kwasi Nyamekye noted that while government initiatives such as YouStart, Ghana Integrated Customs Management System (ICUMS) and One District, One Factory (1D1F) programme have boosted local production, major hurdles still remain.

He expressed worry that local industries continue to grapple with high interest rates, unreliable power supply, multiple taxes and a shortage of skilled labour.

“We are still exporting raw materials without value addition and importing the same products at higher costs in finished form,” he lamented.

Mr. Nyamekye therefore proposed a strategy anchored on three pillars – policy stability, infrastructure and innovation and access to finance – to unlock the country’s industrial growth.

“Policy stability is the foundation. Investors and industrialists need assurance that regulatory changes will not happen overnight. Government must deepen engagement with AGI and other stakeholders to ensure policies reflect realities on the ground,” he emphasised.

He further called for massive investment in reliable infrastructure – power, water, roads, ports, and digital systems – alongside the promotion of innovation ecosystems that can transform the country into a hub for industrial creativity rather than a low-cost production base.

On access to finance, the AGI Regional Chair expressed concern over high lending rates that continue to cripple local manufacturers. He urged financial institutions to design tailored products for industry players, especially Small Medium Enterprises (SMEs), with longer repayment periods and affordable rates.

Mr. Nyamekye reaffirmed AGI’s commitment to remaining the voice of industry and ing with government and international stakeholders in driving industrial growth. He further challenged AGI members to adopt sustainable practices, embrace technology and invest in skills development to secure their competitiveness.

“The future of Ghana’s industrialisation is not a dream – it is a decision. A decision to create the right environment backed by action and accountability. Together, we can build an industrial sector that powers our economy, uplifts communitie and secures the future for generations to come,” he said.

The AGM and Job fair were done in partnership with Mastercard Foundation and Ghana Export Promotion Authority (GEPA) on the theme ‘Creating a Conducive Business Environment for Industrial Competitiveness – 24 Hours in Perspective’.

The post AGI urges bold reforms to unlock industrial potential                                                            appeared first on The Business & Financial Times.

Read Full Story