Audio By Carbonatix
A nationwide consultation with Ghanaian private sector to access their readiness for AfCFTA implementation has begun in Accra.
The consultation is focusing on six sectors of Association of Ghana Industries (AGI) members who are in agri-business, food and beverages, pharmaceuticals and herbal, garment, textile and leather, plastics and hardware as well as hospitality and tourism industry sectors.
“The stakeholder consultation with the private sector is very important as it would help in assessing their knowledge and understanding of AfCFTA, rules of origin, capacity to produce and export to other African countries as well as identifying the challenges that would impede their ability to take full advantage of the AfCFTA,” said Appiah Kusi Adomako, the Country Director for CUTS.
President Akufo-Addo when he signed for Ghana to join AfCFTA
Mr Adomako added that the ability of Ghana to take full advantage of the AfCFTA agreement depends largely on the readiness of Ghanaian industry.
Whilst a company can be ready at the firm level, there is also the need for our macroeconomic variables to be ready. For example firm in Ghana which borrows on the average of 28% per annum cannot compete with firms in South Africa, Rwanda, Mauritius that borrow on an average of 7 per cent per annum.
The consultation forms part of a study assessing the readiness of the Ghanaian private sector for AfCFTA implementation. The study is being undertaken by a research and advocacy policy think called CUTS with support from the BUSAC Fund.
BUSAC Fund is a donor pooled fund to support private sector advocacy and it is supported by the DANIDA and the USAID.
It is expected that the study will produce a diagnostic report which will help to develop practical steps in addressing the gaps and challenges identified by the private sector with regards to the African Continental Free Trade Agreement (AfCFTA).
President Akufo-Addo when he signed for Ghana to join AfCFTA
Mr Adomako added that the ability of Ghana to take full advantage of the AfCFTA agreement depends largely on the readiness of Ghanaian industry.
Whilst a company can be ready at the firm level, there is also the need for our macroeconomic variables to be ready. For example firm in Ghana which borrows on the average of 28% per annum cannot compete with firms in South Africa, Rwanda, Mauritius that borrow on an average of 7 per cent per annum.
The consultation forms part of a study assessing the readiness of the Ghanaian private sector for AfCFTA implementation. The study is being undertaken by a research and advocacy policy think called CUTS with support from the BUSAC Fund.
BUSAC Fund is a donor pooled fund to support private sector advocacy and it is supported by the DANIDA and the USAID.
It is expected that the study will produce a diagnostic report which will help to develop practical steps in addressing the gaps and challenges identified by the private sector with regards to the African Continental Free Trade Agreement (AfCFTA).DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Tera Carissa Hodges joins global creatives to discuss cultural sovereignty at AfroCannes 2026
12 minutes -
TCDA CEO leads charge to scale up cashew apple value addition opportunities
20 minutes -
MGL’s May Day Egg market ends in resounding success as crowds turn out for affordable eggs
58 minutes -
Energy expert advocates increased private-sector role in power distribution to tackle dumsor
1 hour -
Tony Asare Writes: A clotted artery, by-passes and detours
1 hour -
No road project cancelled under Mahama’s reset agenda — Roads Minister
1 hour -
Mahama praises IGP Yohunu, hails intelligence-led policing at Krobo-Odumase commissioning
1 hour -
“Energy situation is stable” – John Jinapor assures Ghanaians
1 hour -
Ghana Tuna Association reaffirms sustainability commitment on World Tuna Day
1 hour -
Mahama commissions Odumase Krobo Divisional Police HQ, boosts operations with vehicles
2 hours -
Roads Minister urges contractors to stay on site, assures prioritised payments
2 hours -
Suhuyini credits Ameri plant for averting 2024 power crisis in Kumasi
2 hours -
Thirteen killed in Israeli strikes on southern Lebanon, health ministry says
2 hours -
Tano North MP sounds alarm over galamsey devastation, accuses officials of shielding perpetrators
2 hours -
Digital wealth, analog poverty: Why technology isn’t closing the gap
2 hours