ADVERTISEMENT
RADP / Pulse Ghana  >  news  >  business

Akufo-Addo says he won’t repeat Nkrumah’s industrialisation mistakes

Abu Mubarik

A speech read o behalf of the President by the Senior Minister Nana Yaw Osafo Marfo said Nkrumah's decision to lead a state-led industrial revolution failed to yield the desired results.

READ MORE: Gov’t encourages ‘one chief, one farm’

He was speaking at the16th edition of the Ghana Club 100 Awards on Thursday, November 30, in Accra.

“Ghana’s first industrial surge was recorded in the 1960s, directly after our independence, Dr Kwame Nkrumah initiated the establishment of more than 300 state-owned enterprises to operate in all sectors of economic activity,” President Akufo-Addo noted.

He added, “Virtually, from the skies – Ghana Airways – through investments in power, petroleum, fisheries, textiles, insurance, financial services, to the ground – agriculture. The Government of Ghana initiated, staffed, funded, managed and rendered accounts, by itself to itself.”

ADVERTISEMENT

President Akufo-Addo notes that his government will provide the enabling environment for businesses to thrive instead of directly establishing industries.

"Government is also working hard to improve the infrastructure in our cities – roads, railways, ports, aviation, communication, as well as the rural areas – where we must add value to our time and make it easier to do business in Ghana,” he said.

READ MORE: 320 dams earmarked for development; 192 more in 2018

He added that "faster and less costly import and export practices should lead to investments in better technology and machinery that will boost productivity and scale up volumes from our local industries."

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!
Abu Mubarik Abu Mubarik Abu Mubarik is a writer at Pulse Ghana with special interests in Ghana politics, international relations and geopolitics.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.com.gh

ADVERTISEMENT