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
-
AWLA-Ghana holds consultative forum to shape National Family Law and Justice Conference
12 minutes -
Nigerian youths: Stop facebooking and face the book
15 minutes -
Leadership, Accountability, and the KATH CEO suspension: Reflections on Ghana’s healthcare governance
24 minutes -
Government repatriates 327 stranded Ghanaians from Côte d’Ivoire
42 minutes -
World Cup qualification will deliver significant economic benefits to Ghana
54 minutes -
ASEC urges major reforms after Akosombo Substation fire investigation
56 minutes -
NDC achieved democratic objective with presidential term limit—Majority Leader
60 minutes -
From Humble Beginnings to Public Service and the Global Stage: The journey of Emmanuel Kwame Agyemang
1 hour -
Bank of Africa partners schools nationwide for tree planting, promotes financial inclusion through education
1 hour -
Inflation could be coming down due to expected harvest season – Government Statistician
1 hour -
Croatia World Cup 2026 team guide
1 hour -
England World Cup 2026 team guide
1 hour -
The Law 101 – Plea Deals: Justice made swifter and surer
1 hour -
Panama World Cup 2026 team guide
2 hours -
Middle East conflict sends global growth to lowest rate since COVID-19 – World Bank
2 hours