President Akufo-Addo has said that the government he leads is a natural cheerleader for the private sector.
According to him, it was for that reason his government, since assuming office, had rolled out measures to create a business-friendly environment.
The President also said his administration acknowledged the inability to create sufficient jobs on its own, thus, the importance of putting measures in place“to reduce the cost of doing business and improve the business environment.”
He further stated that the goal of his government for the private sector remained constant, regardless of the global economic upheavals.
This goal, he said, was “to unleash the innovative and entrepreneurial instincts of the Ghanaian private sector to drive rapid growth and job creation. I am confident that we will realise this important goal.”
President Akufo-Addo was speaking on Tuesday, March 14, 2023, at the commissioning of the factory expansion of GB Foods, Tema branch.
The President was excited about the prospect that the expansion of GB Foods would influence the company’s decisions, “not only to source domestically its raw material base, but also to venture into the establishment of two industrial farmlands for the processing of tomato concentrate,” and hoped that “many more companies would commit to such a development.”
“The government I lead is a natural cheerleader for the private sector, and it is my sincere wish that GB Foods and, indeed, the Ghanaian private sector, will continue to invest further in Ghana. Cascading investments in our economy is the most effective way to expand and strengthen it in order to create the many jobs our young people so ardently want. It will happen, and soon,” he indicated.
GB Foods is a leading food manufacturing company and producers of Ghana’s Gino and Pomo range of products.
At a total cost of $5 million, the company expanded its production line by commissioning a state-of-the-art tomato canning line in Tema.
It is aimed at reducing the amount of raw materials imported in the manufacturing of the company’s products, thereby offering more employment opportunities to Ghanaians.
Commission the production line, Arthur Carrula, President of Agrolimen, parent company of GB Foods, said the company was committed to investing in Africa and Ghana.
“With the support of the Ministry of Food and Agriculture and Ministry of Trade and Industry, we are working to identify locations for two contiguous farmlands of 7,000 acres each, on which we will construct two industrial farms, each with an integrated factory to process tomatoes, we will sell in Ghana and also exports to other African countries, taking advantage of the African Continental Free Trade Agreement.
“We estimate that on completion of these two projects, GB Foods would have invested over $70 million of investments and create over 5,000 jobs, earn FX for Ghana,” he said
On his part, the General Manager for GB Foods Ghana, David Kofi Afflu, said the company will continue to invest and help expand Ghana’s economy.
“Apart from the tomatoes processing line, this state-of-the-art facility also has a curry processing line. We believe in Ghana and remain committed in driving investments to grow our footprint in the county. Today’s commissioning is a demonstration of our deep level of commitment to this cause and we shall not relent on this effort,” he stated.